Member Info for BusInvestor

Mobico *exceeded* expectations for once? I must be dreaming.

Down 20% today. Seems to be in freefall.

Thank F*CK for that. Absolutely catastrophic tenure.

99.5% of shareholders inexplicably voted to re-elect Ignacio at the most recent AGM, so I doubt they'll vote to block the sale.

"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."

Nothing has gone right since Ignacio's appointment.

Or pretty much since Garat was appointed. FGP had a stronger post-vaccine recovery and managed to keep it going, but MCG has fallen continuously since the Delta variant emerged.

The management have been failing this company since May 2021.

https://www.google.com/finance/quote/FGP:LON?hl=en&comparison=LON%3AMCG&window=5Y

Need more IR like MNZS—they were always releasing RNS about new contract wins and expansions. MCG basically sticks to the regulatory minimum...

They need to refresh their IR strategy as well.

https://www.unitetheunion.org/news-events/news/2023/march/west-midlands-bus-strike-back-on-over-national-express-union-busting/

This is the only news I could find that corresponds with the 3:15 drop and general weakness in the travel sector today:

https://twitter.com/DeItaone/status/1559906483550158848

https://www.route-one.net/operators/national-express-coach-coming-back-strongly-says-md/

Oh, it seems that EEE is owned by the Cosmen family, and Jorge Cosmen is currently the chair of NEX's ALSA division.

European Express Enterprises is a private equity firm and their most recent filing reported total assets minus current liabilities of £151m. I'm not really sure how they funded this new acquisition or why a PE firm of this size would have ~£133m in a single stock... it's very bizarre.

Those £1-3m transactions that appeared after hours were all listed as NPFT (non-price forming transactions) on London Stock Exchange.

Back down again... something very strange is happening with this stock.

I can't find any news that would cause this, but then again there wasn't any reason for the fall from 200 to 176 yesterday. Maybe we'll wake up on Monday with a takeover RNS... :)

Unfortunate, but at least I can commit fully to NEX now.

Unfortunately, recent Australian equity markets have been volatile and external events have adversely impacted the Kelsian share price since 14 June 2022 when Kelsian first announced it was considering a possible offer for Go-Ahead. The Kelsian Board consider that Australian equity market conditions at this time do not enable Kelsian to pursue a possible transaction for Go-Ahead despite the long-term strategic and economic rationale of the potential transaction for Kelsian.

I just noticed this: https://www.lse.co.uk/rns/GOG/revised-norway-rail-contract-j0w0yjx0cktperh.html

"Go-Ahead is pleased to announce that, following discussions over a number of months, a new agreement has been reached between the Norwegian Railway Directorate and Go-Ahead Norway A/S, regarding the structure of its rail contract.

Under the original contract, which began in December 2019, the revenue risk associated with changes in passenger demand rested with Go-Ahead. During the COVID-19 pandemic, the Norwegian Government provided financial support to rail operators, preventing material losses.

The amended contract takes effect from 1 July 2022 and runs for the duration of the original contract, until December 2027 (plus a two-year extension option until December 2029). The contract provides a revenue support scheme until the end of the contract. The amended contract also includes an incentive scheme linked to revenue growth. As a result of these improved contractual arrangements, the Group expects to significantly reduce the £66.2m onerous contract provision relating to its rail operation in Norway in its full year results for the year ending 2 July 2022."