Mobico Group PLC on Tuesday maintained its annual guidance after a ‘solid performance’ in the first half of 2025.
The Birmingham, England-based public transport operator and National Express owner said its pretax loss for the six months to June 30 narrowed to £7.1 million from £29.3 million the year before.
This included a £254.7 million loss on discontinued operations, largely due to a £238.0 million non-cash impairment on the classification of North America School Bus as ’held for sale’. Mobico agreed the sale of its NA School Bus business to I Squared Capital in late April, which carried an up to $608 million enterprise value.
Adjusted operating profit for the six-month period, excluding NA School Bus, sank 13% to £59.9 million from £68.6 million a year prior.
Revenue increased 7.0% to £1.32 billion from £1.24 billion a year earlier.
‘Mobico has delivered a solid performance in the first half of 2025, with revenue growth supported by continuing positive passenger demand, further contract win momentum and another record performance at ALSA,’ said Executive Chair Phil White.
‘Although our operating profit performance in the first half was mainly impacted by the under-performance of two contracts in WeDriveU, due to operational issues and a competitive trading environment in the UK, we remain confident of achieving our full year adjusted operating profit guidance of between £180 million and £195 million.’
Mobico reported £187.7 million in adjusted operating profit in 2024.
Shares in Mobico fell 17% to 27.02 pence in London on Tuesday morning. The stock is down 60% over the past year.
White continued: ‘In July we also successfully completed the sale of our North America School Bus business, which strengthens our liquidity and is an important first step in our continued focus on deleveraging.
‘Our new management team has been focused on closely evaluating each of our business divisions, and we see significant opportunities to simplify and strengthen the group and are taking decisive action to sharpen our operational and financial performance, including additional cost reduction plans and further leveraging ALSA’s best practice across the business.’
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