Member Info for John33

Are trading well off since the NASB debacle, near 5yr lows, and as someone preiously pointed out Moody's I think has them under review, the BoD said they wanted to keep the bonds as investment grade but that may be out pof their hands with the UK/German debacle.

Ratnam, I must be posting out of boredom, but

Ratnam,

"Firefpower1, why are you so worry about we loosing money ? if this company goes bankrupt or not, it will bounce back to 58p within 6 months"

If bankruptcy were to transpire can you please elaborate as to how it will bounce back to 58p!!!

Cosmens are probably waiting for the next shoe to drop and a forced sale which won't cover the outstanding debt owed. The video conference Helen mentioned that net debt will rise FY25.

it's either a sale of WeDriveU or ALSA coming up next probably when the SP is single figures.

The UK is probably worth £zero, Germany the same, as are the shares.

"There was a 2 million shares buying showing in yahoo for this yesterday"

Err no there was not, according ADFVN there was 2.8m buys in total of which,

718,380 UT

330,000 late reported trade

251,761 late reported trade

At the management presentation on Tuesday 29 April 2025 they said the NASB sale is the start of the deleveraging process hinting at more to come.

In fact they said all options are on the table.

There is only ALSA and Wedrive (crown jewels) left to sell of any value, UK is struggleing to keep its head above water and Germany is a basket case, ball & chain dragging the whole company under. on top of the gargantuan debt. The FY25 results said to expect more penalties at the German business.

If /when they have to offload ALSA it will be another desperation move, considering the Cosmens can block (hold to ransom) a sale as they most likely control 25%, they will want ALSA for themselves at another underwhelming price and the BoD will be able to nothing about as the alternative will probably be D4E/adminsistration.

For a dose of reality:-

https://www.linkedin.com/pulse/mobico-needs-white-stuff-david-leeder-utyke?trk=feed-detail_main-feed-card_feed-article-content

Acquisitions cash outflow of £57.9m (FY23: £59.6m) relate primarily to the acquisition of CanaryBus in ALSA, a leading provider of tourist and discretionary services in the Canary Islands, as well as deferred consideration paid for previous acquisitions. The prior year reflects multiple smaller acquisitions in ALSA.

A cash outflow of £99.2m was recorded in respect of the items excluded from adjusted results as explained above. £21.3m of coupon payments on the hybrid instrument were made in the period, in line with prior periods. No final FY23 dividend nor an interim FY24 dividend have been declared, therefore no external dividend has been paid in FY24; the prior year included a dividend payment of £41.1m. Other inflows of £26.7m reflect the movement in exchange rates, principally on the Group's Euro denominated debt, and settlement of foreign exchange derivatives.

Net funds outflow for the period of £0.8m (FY23: £6.2m inflow) resulted in adjusted net debt of £1,202.5m (FY23: £1,201.7m).

See the Supporting Reconciliations section below for a reconciliation to the statutory cash flow statement.

The Group maintains a disciplined approach to its financing and is currently rated by Moody's and Fitch at (Ba2/Stable) and (BBB-/Stable) respectively.

Above my paygrade but,

Moody's state:-

The coverage of interest expenses remained very weak and well below 1x in 2024, when Mobico also generated negative free cash flows.

...................................

Mobico FY/2024 states:-

Free cash inflow is £210.2m in the period (FY23: £163.7m), representing strong free cash flow conversion and a significant increase of 28.4% on the prior year.

The Group has two key bank covenant tests; a 3.5x test for interest cover. At 31 December 2024, covenant gearing was 2.8x (FY23: 3.0x) and interest cover was 4.6x (FY23: 5.2x).

We are talking about the here and now, not last year June.

Where have you read that I can't find anything?,....though I can see the bond prices have taken a hammering the last 2 weeks.

RBC cuts Mobico Group price target to 35 (70) pence - 'sector perform'

Will there be more onerous contract provisions or have they finally drawn a line under it, they don't know but are hopeful, it's out of there control.

Maybe the mkt will want to see the deal complete with cash paid into MCG accounts.

' Expected upfront net proceeds2 of approximately $365-385 million (~£275-290 million1)'

The below earn out, they were really coy about the performance thresholds, will

performance targets be difficult to achieve who knows so there is doubt there, a really crap deal all told!

'The Transaction includes an earn-out of up to $70 million, payable by I Squared to Mobico, contingent on School Bus meeting certain financial performance thresholds over a 3-year period post-completion of the Transaction'

Looked out of his depth before even starting his role, needs to hit the ground running, brought up to speed. He actually looks like he should be retiring or maybe one last pay day is too good to turn down.

Can't seriously believe the stated goodwill impairment of school bus c.£500m is unconnected to the sale and not out of desperation to get the sale over the line.

Garat did say something or other along the lines of "a sale would be considered if the price was appropriate",...£500M below book value is appropriate!!!

A last gasp rally reprieve for tomorrow to look forward to!

Watching the AT's on the sell side machine gun through and occcasional sporadic AT buys they are deternined to get this right down, tomorrow is another day or more of the same, that is the question.

Testing session lows is there any hope!

This Garat is a snake oil salesmen, probably try to sell a recovery jackanory again.

Looks like we have all been played for fools, fools gold is what this crock is.

Tuesday probably going to kick it further down

Mobico chief executive Ignacio Garat said: 'This agreement is a significant milestone for Mobico. It is a first step in strengthening the group's balance sheet and will allow us to reallocate resources away from a capital-intensive business as we focus on continued deleveraging alongside funding our pipeline of growth projects.'

Https://www.thisismoney.co.uk/money/markets/article-14648765/National-Express-crashes-US-arm-sold-cheap.html?ico=mol_desktop_moneymarkets-newtab&molReferrerUrl=https%3A%2F%2Fwww.dailymail.co.uk%2Fmoney%2Fmarkets%2Findex.html&_gl=1*j77egc*_gcl_au*MTI5MjA0NTM2OC4xNzQ0MjQwNjA4*_ga*NjQ4OTUyMjI3LjE3NDQyNDA2MDg.*_ga_C9F47K6NW6*MTc0NTYxOTIwMC44Mi4xLjE3NDU2MTkyNDEuMTkuMC4xMjM2NzY5Mjc0