London · Delayed Price · Currency is GBP · Price in GBX FirstGroup Earnings Call Transcripts
Fiscal Year 2026
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Adjusted revenue rose 25% to £1.7 billion, with EPS up 5% and strong cash generation supporting an 11% dividend increase and a new £100 million buyback. Bus and coach segments drove growth, while rail faced headwinds from nationalization and competition.
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Strong half-year results with 30% adjusted revenue growth and 16% EPS increase, driven by acquisitions, cost efficiencies, and electrification investments. Outlook remains positive with modest EPS growth expected for FY26 and a robust balance sheet supporting further U.K. expansion.
Fiscal Year 2025
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Adjusted revenue grew 7% to £1.4bn and adjusted EPS rose 16% to 19.4p, with strong cash generation supporting an 18% dividend increase and a new £50m buyback. Strategic acquisitions, electrification, and open-access rail expansion underpin a positive outlook for FY2026.
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Strong H1 2025 results with 8% revenue growth, margin expansion, and robust cash generation. Bus and open access rail segments drove performance, supported by acquisitions and electrification investments. Outlook for FY25 is positive, with EPS expected to be maintained in FY26.
Fiscal Year 2024
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The acquisition secures a major entry into the London bus market, diversifies earnings, and leverages RATP London’s strong operational base and electrification progress. Financially, the deal is earnings-neutral until FY2027, with synergies and margin improvements expected as contracts are rebid.
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Strong financial performance in FY2024 with adjusted EPS up 44% and robust growth in both bus and rail segments. Strategic focus on electrification, sustainability, and acquisitions drove margin improvements and positioned the group for continued growth, despite regulatory and inflationary risks.