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Yes, please, alex. Would really like to see!!
I see the acquisition completed in March. Does anyone know how much we are paying in full? I know there was a 6m deposit that had been paid?
Deal was signed in Feb 22. Sounds ridiculous when you say it back!!
Their words can't be trusted. I don't believe anything they say. The haven't been on the ball for a long time. Get them booted NOW!
Why are these 2 muppets still employed. I wouldn't trust them to drive bus. Sack them and get some competent management in
Re the valuation. I think the issue here is that the value of the group as a whole is smaller than what investors believe is the true value if its parts.
First group is a good comparison. The MC when the sale was agreed was £1b and it had £3b of debt. Yet the sale of the US business netted £3.5b. 3.5x its MC and only £500m short of its full EV. They didn't want the rest. Only the US bit. And they really wanted it.
Similar situation with WG and the environmental business business. It sold for 17x its division ebitda @ £1.7b.
Looking at historical valuations the US school bus businesses go for good prices. X11 to x12 ebitda. They like the stability of earnings and the shift to greener solutions. Along with the huge subsidies and grants being pumped into the industry by the US government (latest $1b just announced https://news.bloomberglaw.com/environment-and-energy/white-house-awards-1-billion-in-grants-for-clean-school-buses)
I don't know what the value will be. But I certainly don't think it will go cheaply. FG sold the US school bus business only for $3.3b and we are half the size and number 2 in the US market. The synergies alone could create huge value If First student or Student Transport of America showed their hand.
I can't believe interest wasn't shown before the board declared their strategic review had taken place.
It is frustrating and I'm irritated by management. However I'm far more relieved than that the ebit is in line and that leverage is similar to HY. This is a big relief for me.
Uk and NA are both in line with expectations. Expectations were thst we we making £125m ebit in h2 vs £57.5m in h1. This suggests things are improving operationally.
NA being in line also means there is no spanner in the works for its potential sale.
I'd be very happy with confirmation of interest
Systemica down by 0.1%. Not huge but helps
Jorge...."Igacio, I really want Grupo. We need to consolidate the Canaries. Its €80m by the way..."
Ignacio..."Jorge my cash cow....Good to speak. How much does it make?"
Jorge.. "€2.6m net but I'll significantly improve. Cost savings will be huge too. Trust me Chico....I'll make it work"
Ignacio...."Crack on Jorge. I trust you"
Jorge...."Ignacio..just seen latest trading update. Are you sure we can afford it?
Ignacio..."Jorge. We have loads of interest. Loads want the Yankie business. I've had offers already but playing them off against each other. They are desperate for it. Get Grupo bought....big cash is on Its way"
Ignacio..." Great news, Jorge. I'll get it bought!"
Ignacio...."I know we are close so just letting you know out of courtesy I'm loading up on shares too"
Not sure if this has been posted before. Seems to suggest there is a much bigger pie to take control of across the Canaries and Grupo 1844 will assist them in achieving that. It makes sense Alsa would not want to be the market leader in Soain but not have a similar market position in the Canaries.
https://www.elconfidencial.com/espana/islas-canarias/2024-01-02/transporte-regulado-viajeros-canarias-millones_3801156/
I wonder if they are expecting to complete in the next 3 years?...
Hi seatank thanks for that. Great interview...he sounds very positive
I'm not sure if I'm worried or excited by this. Who is selling these off book? Have they identified a seller?
The SP best start waking up here. It tells me there is a lot of confidence in the business
Jorge cosmen is on the board of Alsa. Cosmens bid for the group in 2009 unsuccessfully. They clearly see a lot of value here
Wow. They have increased from 14% to 17.3%. This is on top of the previous increase from 13%. Great news
Alsa starts the operation of six urban lines with a 100% electric fleet in Geneva
· This is the largest deployment of electric buses carried out by the Spanish company
· It has required the incorporation of 22 new zero-emission electric buses, which will prevent the emission of 1.5 million Tn of CO2 each year
Madrid/Geneva, 18 December 2023The mobility company Alsa has started operating this December in Geneva six new lines of the TPG (Transports Publics Genevois) network with a fleet composed entirely of electric buses, making it the company's largest operation with zero-emission vehicles and the first TPG urban service operator to use ZEV vehicles.
For its launch, the Spanish company has made a strong investment, both in the acquisition of 22 new state-of-the-art electric buses and four hybrid reserve buses, and in new facilities located in the industrial area of Satigny, equipped with the charging infrastructure necessary for the new electric fleet and for future growth.
These new lines were awarded by TPG in 2022, and are in addition to the two that Alsa already operated since 2018 in the Swiss city. These are lines 41, 43, 47, 48, 70 and 75, which will be used by more than three million passengers per year. Its operation with 100% zero-emission vehicles will prevent the emission into the atmosphere of 70,000 Tn of CO2 per bus per year, so the whole fleet will save more than 1.5 million Tn. of CO2 each year.
For Miguel Pérez-Juez, Director General of International and M&A of Alsa, the start of this new contract "has been a huge challenge and manages to position ourselves as one of the main private operators of Geneva and at the forefront in terms of sustainable mobility. Thanks to our excellent local team and the know-how we are acquiring in the ZEV fleet operation in a network as innovative as TPG, we will be able to face with guarantees new international growth projects that the company has, both in Switzerland and in neighbouring countries."
Since its inception in 2016, the presence and activity of Alsa in the Swiss country has had a significant increase, reaching 200 vehicles and more than 300 employees next year. In these years it has created a mobility hub with a diversified portfolio of services that operates, in addition to urban transport, alpine transfers; school transport; tourist and discretionary; as well as international lines from Switzerland to Spain and other European countries
A couple of big buys appeared. Hopefully Systematica reducing or Cosmens increasing!
It really wouldn't surprise me if the MM are helping Systemica to get out out of their short with the most profit.