Mobico Group (formerly NX Group)

[winston]

Trading Statement:
https://www.nationalexpressgroup.com/newsmedia/corporate-news/2019/national-express-group-plc-q3-trading-update/

[Tony]

Looks like selling this may have been another perfectly timed decision by the NX board

https://www.facebook.com/143666524748/posts/10158726734309749/

[winston]

Looks like selling this may have been another perfectly timed decision by the NX board

https://www.facebook.com/143666524748/posts/10158726734309749/

It seems like all Rail Operators are hitting the buffers.... the risk/reward ratio does not favour the operator.

NX set the precedence for exiting UK Rail - seems to be a nicely timed move!

[mikestone]

I did wonder if Trenitalia were on the verge of dumping the West Coast franchise, there seems to have been very little change since the initial hyper-activity in removing all reference to Virgin. 

[richie]

I did wonder if Trenitalia were on the verge of dumping the West Coast franchise, there seems to have been very little change since the initial hyper-activity in removing all reference to Virgin.

They missed the logos on the hot air balloons in the toilets!

[mikestone]

I haven't had occasion to use one but I understand the talking toilets are gone. It does seem incredibly childish to have removed the where to find your seat posters.

[winston]

Full Year Results:
https://www.nationalexpressgroup.com/newsmedia/corporate-news/2020/full-year-results-for-the-year-ended-31-december-2019/

Zero emission vision:
https://www.nationalexpressgroup.com/newsmedia/corporate-news/2020/national-express-group-sets-out-zero-emission-vision/

[pb2012]

https://www.nationalexpressgroup.com/media/3941/national-express-full-year-results-presentation-2019.pdf
  Newlivery for electrics on this version of results.

[Ian Hardy]

https://www.nationalexpressgroup.com/media/3941/national-express-full-year-results-presentation-2019.pdf
  Newlivery for electrics on this version of results.

And they have used an "up to date picture" of 6702 on the 900 on the back cover:-)

[winston]

NX Group Announcement:
https://www.nationalexpressgroup.com/newsmedia/corporate-news/2020/covid-19-update/

[MW]

NX Group Announcement:
https://www.nationalexpressgroup.com/newsmedia/corporate-news/2020/covid-19-update/

What do you think Winston? Time to buy some shares in NX (& Go-Ahead for that matter)?

[winston]

What do you think Winston? Time to buy some shares in NX (& Go-Ahead for that matter)?

I'd been buying Stagecoach as a recovery play for a while, as NX shares were getting expensive. I'd made two top ups earlier last week at 118p & 113p as markets were heading down, they're both worth -50% on what I paid for them right now, let alone my original SGC share purchases. They seem to be holding up better than the rest along with Rotala at present.

NX & Go-Ahead are both at 20% yields at the moment, but there's every likelihood dividends for 2020 will be deferred, cut or even halted to conserve cash. NX UK coach businesses have been hit hardest so far & could be hit even harder yet, their holidays / day trips / corporate & events work will have been vaporised overnight, plus a lot of their most lucrative coach routes serve airports - BA are parking planes up. All that will take some time to recover once we're out the other side. It largely depends how bad it all gets & for how long, worst case scenario large portions of fleets could be mothballed for months, also what financial support the transport industry will be given by the Government. Everything is very uncertain at the minute, even NX couldn't give any figures or guidance in today's announcement, as they don't know themselves. London is currently closing down, they're ahead of the rest of the country. The next few weeks slowing the spread are critical.

On the slightly positive side, The Cosmen's who NX acquired Spanish ALSA off, have increased their stake in NX in the last couple of days, they're obviously in the thick of things in Spain with ALSA currently:
https://www.lse.co.uk/rns/NEX/holdings-in-company-ja6zxwq66r9sl65.html

If you're considering buying at present, I would consider drip feeding funds, as they could yet go lower yet to average down. Bitcoin is currently less volatile than Transport Group shares. I certainly wouldn't touch First Group shares, they were struggling to sort the business out when times were good.

I suspect NX being so diversified globally will bounce back the quickest, they are also well managed and should be a good longterm purchase.

Off topic - but relative (Statement from Ensign Bus - makes grim reading)
https://www.ensignbus.com/

[winston]

Trading Update:
https://www.nationalexpressgroup.com/newsmedia/corporate-news/2020/trading-update/

[winston]

Market Update:

https://www.nationalexpressgroup.com/newsmedia/corporate-news/2020/market-update/

On top of the following:

'The Group has made significant progress to secure additional liquidity with approximately £1.3 billion in cash or undrawn committed facilities'

NX is also propsing an equity placing to issue up to 20% extra of the current issued share capital to raise cash for paying down existing debt:

Propsed Placing:

https://www.nationalexpressgroup.com/newsmedia/corporate-news/2020/proposed-placing-of-new-ordinary-shares/

[WyreForestShuttle]

Market Update:

https://www.nationalexpressgroup.com/newsmedia/corporate-news/2020/market-update/

On top of the following:

'The Group has made significant progress to secure additional liquidity with approximately £1.3 billion in cash or undrawn committed facilities'

NX is also propsing an equity placing to issue up to 20% extra of the current issued share capital to raise cash for paying down existing debt:

Propsed Placing:

https://www.nationalexpressgroup.com/newsmedia/corporate-news/2020/proposed-placing-of-new-ordinary-shares/

Unlike the solid reserves of FirstGroup todays announcement to the city by NX shows the folly of over expanding coach operations that became so reliant on incoming tourism income flows.

When the cash cow money tree of National Express West Midlands wilts in a global pandemic NX has to run to the hills or more precisely the brokers to go cap in hand to raise money in the worst way financially possible proving to the city the sheer incompetence of its board.

The activities of the NX board today make FirstGroup look like a normal properly run company!