2021 performance highlights
Driving mobility solutions
We have a clear vision and purpose
2021 has been the year of transition we had anticipated, with our services beginning to return to pre-Covid levels across all the territories in which we operate.
"There has never been a more exciting time for our sector which has a crucial role to play in tackling climate change and creating sustainable cities.”
Evolve & demand recovery delivering significantly improved results
Renewed strategic focus
- Launched Evolve, targeting an incremental £1bn of revenue and at least £100m of EBIT from 2022 to 2027
- Purpose embedded in our strategy and everything we do
- Significant benefits from modal shift to shared mobility
Improving financial results
- Full year Underlying PBT of £40m, at the top end of expectations
- Constant currency revenue growth of 16%
- £123 million of free cash flow generated
- Disciplined capital allocation; significant deleverage with gearing reduced to 3.6x
Environmental leadership
- Ambitious Group-wide zero emission fleet plans agreed, with a Group scope 1 & 2 net zero target of 2040
- Signed our first ‘availability contract’ for around 200 electric buses in the UK
Positioned for profitable growth
- Pipeline of growth opportunities amounting to £1.5bn of revenue
- Intention to reinstate the payment of a dividend in respect of the full year 2022
Divisional review
-
ALSA
Overview
Year ended 31 December 2021 2021 2020 £ Revenue £718.4m £559.3m Underlying operating profit £56.6m £6.7m Statutory operating profit/(loss) £30.2m £(93.5)m € Revenue €835.8m €629.3m Underlying operating profit €65.9m €7.5m Statutory operating profit/(loss) €35.2m €(105.2)m Underlying operating margin 7.9% 1.2% -
North America
Overview
Year ended 31 December 2021 2021 2020 £ Revenue £872.0m £869.2m Underlying operating profit £74.4m £12.4m Statutory operating profit/(loss) £46.5m £(176.0)m $ Revenue $1,199.7m $1,121.5m* Underlying operating profit $102.3m $16.3m* Statutory operating profit/(loss) $63.8m $(226.1)m Underlying operating margin 8.5% 1.5% * Revenue and Underlying Operating Profit at constant currency in respect of the Canadian Dollar to US Dollar foreign exchange rate movement in the year
-
UK
Overview
Year ended 31 December 2021 2021 £ 2020 £ Revenue £397.8m 388.2m Underlying operating loss £(22.6)m (49.0)m Statutory operating loss £(46.4)m (99.4)m Underlying operating margin (5.7)% (12.6)% -
Germany
Overview
Year ended 31 December 2021 2021 2020 £ Revenue £182.1m £139.2m Underlying operating profit/(loss) £5.0m £(4.9)m Statutory operating profit/(loss) £(24.1)m £(24.0)m € Revenue €211.8m €156.6m Underlying operating loss €5.8m €(5.5)m Statutory operating loss €(28.0)m €(27.0)m Underlying operating margin 2.7% (3.5)%
Financial overview
Group Income Statement, Group Balance Sheet, Group Cash Flow Statement & Five Year Summary
Downloads
Strategic Report
Corporate governance
Directors’ Remuneration Report
Directors’ Responsibilities Statement
Financial statements
Additional information
All Excel files
