Mobico Group (formerly NX Group)

[BN]

With the sale of Stewart's have the four electrics at Watford remained with Nat ex or been sold?

Most likey owned by Zenobe so wouldn't matter.

[Stu]

Nobody seen the latest departure

Instead of insulting/mocking users here, how about providing some details or better still a link so others can find out for themselves?

[CJS47]

Instead of insulting/mocking users here, how about providing some details or better still a link so others can find out for themselves?

It's the Mobico UK CEO Alex Jensen, departed the company yesterday. 

[winston]

Mobico never ceases to disappoint......

They announced this morning that a sale for their US School Bus division has been agreed with I Squared Capital for up to $607 million:

https://tools.eurolandir.com/tools/Pressreleases/GetPressRelease/?ID=7385593&lang=en-GB&companycode=uk-nex&v=r2023

Then they announced the following ahead of next Tuesday's FY results announcement, Friday is the day for releasing bad news:

Current Trading for the Group
Since 30 June 2024, the Group has continued to deliver good revenue growth and expects to deliver FY24 Group Adjusted Operating Profit in line with, albeit at the lower end of, guidance.  The Group expects to deliver a significant statutory loss as a result of goodwill write-offs, derecognition of deferred tax assets and further Onerous Contract Provisions relating to its German business.

Result = Mobico Shares hitting an new all time low of 34.82p ( -40.82%), Group Mkt Cap now just £362 million.

[winston]

About sum's it up:
https://www.thisismoney.co.uk/money/markets/article-14648765/National-Express-crashes-US-arm-sold-cheap.html

[Mayfield]

How much money wasted renaming and rebranding 
Certainly glad I don't own any shares
Can't ever afford to paint a bus in Heritage colours 
Bet they can't wait for franchising.

[winston]

How much money wasted renaming and rebranding
Certainly glad I don't own any shares
Can't ever afford to paint a bus in Heritage colours
Bet they can't wait for franchising.

You'd never have thought they were once the stock market darling of the transport groups. 

[Mayfield]

Poor management to blame

[karl724223]

Another top gaffer gone 

[the trainbasher]

RNS Report

RNS Number : 5181G
Mobico Group PLC
29 April 2025
 
Strictly Private & Confidential                                                                             

 

29 April 2025

MOBICO GROUP PLC

Ignacio Garat to step down as CEO

Mobico Group Plc ("Mobico" or "Group") announces that Ignacio Garat, CEO, will be stepping down from his position with effect from 30 April 2025. Ignacio joined Mobico in 2020 and will remain with the Group for the next three months, moving to an advisory role to support a smooth transition.

The Board will launch a search for his successor with Phil White, Chair designate, taking on the role of Executive Chair on an interim basis with effect from 1 May 2025. As previously noted, Phil has over 40 years' experience in the transport sector and has held a range of non-executive roles across different industries. He was previously CEO of National Express Group plc between 1997 and 20061, during which time he expanded the business internationally and oversaw the transformational acquisition of Alsa.

Helen Weir, Chair, commented: "Ignacio has worked tirelessly on behalf of Mobico and, on behalf of the Board, I would like to thank him for his contribution. With the sale of North  America School Bus concluded, and our full-year results announced, we agreed with Ignacio that now was the right time for a change in leadership."

Ignacio Garat, CEO, said: "The last two years have not been without their challenges as we have had to respond and adapt to a series of market headwinds. However, I'm proud of the role our 51,500 employees carry out each and every day to help support our customers and the communities they serve. It has been a privilege to work alongside the team."

Phil White added: "We must now focus on building a business that is fit for the future. Working alongside the Board and leadership team, my priorities as Executive Chair will be to accelerate the pace of operational and financial improvements, appoint a  CEO for Mobico's next chapter and to ensure that the value inherent in the Group's portfolio is better reflected."

 

Enquiries

Mobico Group

John Dean

Tel: +44 (0)121 803 2580

Headland

Stephen Malthouse

Matt Denham

Antonia Pollock

Tel: +44 (0)7734 956 201

Tel: +44 (0)7551 825 496

Tel: +44 (0)7789 954 356

 

1 National Express Group plc was renamed as Mobico Group plc in June 2023.

 

Notes

 

1.  Information about Ignacio Garat's remuneration arrangements on leaving the Company will be disclosed on the Company's website in due course in accordance with section 430(2B) Companies Act 2006

 

2.  Legal Entity Identifier: 213800A8IQEMY8PA5X34

 

3.  This announcement is made pursuant to LR 6.4.6(2)-(4) of the Listing Rules and is classified as information under 2.2 for the purposes of DTR 6 Annex 1

The information contained within this announcement is deemed by Mobico to constitute inside information as stipulated under the Market Abuse Regulation (EU) No.596/2014 as it forms part of domestic law of the United Kingdom by virtue of the European Union (Withdrawal) Act 2018. By the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

The person responsible for arranging for the release of this announcement on behalf of Mobico is Simon Callander, General Counsel and Company Secretary.

[winston]

RNS Report

He'll be sorely missed, NOT! 

Let's hope Phil White can ship the ship from sinking....🤔

[winston]

At the close following further shareprice falls, and the day before Phil White takes over interim control of Mobico Group as Executive Chairman, shares closed down at 31.1p, valuing the entire Mobico Group at just £196.26 Million. 

[ellspurs]

First or GoAhead Group to attempt a takeover?

[winston]

First or GoAhead Group to attempt a takeover?

Doubt it, The Cosmen's would block any low ball takeover attempt owning 21% of Mobico's shares directly & even more indirectly. 

[Solo1]

If national express didn't do the rail in Germany & usa school work would they of in a better position