ZIGUP plc | Annual Report and Accounts 2026
We keep
customers
moving,
smarter.
ZIGUP plc | Annual Report and Accounts 2026
ZIGUP plc | Annual Report and Accounts 2026
Strategic report
01 Highlights of the year
02 Our purpose framework
03 ZIGUP at a glance
05 Supporting our customers
06 Why we win
08 The evolution of our UK&I businesses
10 Chairman’s statement
12 Chief Executive’s review
16 Our markets
18 Our business model
19 Our competencies and resources
20 Delivering stakeholder value
and positive impact
22 Our strategy
23 Sustainability overview
24 Sustainability progress
32 Key performance indicators
34 Financial review
42 GAAP reconciliation
45 Identifying and managing risk
49 Principal risks and uncertainties
57 Viability statement
58 TCFD and SECR Report
68 Non-financial and sustainability
information statement
70 Section 172 statement
Integrated mobility,
delivered smarter.
We are focused on placing
customers at the centre of our
business, offering a broad range
of services that can be flexed and
tailored to each of their needs.
What’s inside
Corporate governance
74 Chairman’s introduction to
governance
76 Governance at a glance
78 Governance structure and
responsibilities
79 Board of directors
80 Corporate governance
84 Report of the Nominations
Committee
88 Report of the Audit Committee
94 Introduction to the Remuneration
Report
97 Remuneration at a glance
99 Directors’ Remuneration report
110 Report of the Directors
114 Statement of Directors’
responsibilities in respect of the
financial statements
115 Independent auditor’s report to
the members of ZIGUP plc
Financial statements.
123 Consolidated income statement
124 Consolidated statement of
comprehensive income
125 Consolidated balance sheet
127 Consolidated cash flow statement
128 Notes to the consolidated cash
flow statement
130 Notes to the consolidated financial
statements
175 Company balance sheet
176 Company statement of changes in
equity
177 Notes to the Company financial
statements
Other information
188 Glossary
192 Shareholder information
In 2025, ZIGUP plc was
recognised by the King’s Award
for Enterprise for Promoting
Opportunity. This is the most
prestigious business award
programme in the country, with
successful businesses able to
use the esteemed King’s Awards
emblem for the next five years.
Find out more on our website www.ZIGUP.com
Corporate governance Other information ZIGUP plc | Annual Report and Accounts 2026Financial statementsStrategic report
Highlights of the year
Driving sustainable growth for all our stakeholders.
Underlying financial highlights Operational highlights
Non-GAAP statement
Well placed in our markets
Leveraging trends of outsourcing mobility needs and changing
consumer expectations, together with adopting technology
delivering resource efficiency and energy transition.
Delivering with purpose
A customer-centred focus on delivering mobility, smarter, supported
by responsive delivery and measurable performance.
Driven by our people
Our colleagues are our driving force – nurturing our talent through
investment in learning and growing the skillsets of our people to fulfil
our commitment to outstanding customer service delivery.
Discover more Pages 16 to 17 Discover more Page 2 Discover more Pages 26 to 29
Throughout this report, we refer to underlying
results and measures. The underlying measures
allow management and other stakeholders to
better compare the performance of the Group
between the current and prior year without the
effects of one-off or non-operational items.
Underlying profit measures exclude intangible
asset amortisation from acquisitions, certain
adjustments to depreciation and certain one-off
items such as those arising from restructuring
activities and the tax impact thereon.
Specifically, we refer to disposal profit(s). This
is a non-GAAP measure used to describe the
adjustment in depreciation charge made in the
year for vehicles sold at an amount different to
their net book value at the date of sale (net of
attributable selling costs).
A reconciliation of GAAP (reported or statutory)
to non-GAAP (underlying) measures is included
on pages 42 to 44. A further explanation of
alternative performance measures and a
glossary of terms used in this report can be
found on pages 188 to 191.
Revenue (excluding vehicle sales)
£1,636.3m
+5.2%
Fleet size (‘000)
139.4
+5.9%
EBIT (excluding disposal profits)
£164.0m
+9.7%
Underlying profit before tax
£160.1m
-4.1%
Colleague engagement
74%
-1ppt
Net promoter score
66
+2 points
Underlying EPS
53.1p
-9.2%
ROCE
11.2%
-1.4ppt
Steady state cash generation
£95.7m
+79.0m
01
Corporate governance Other information ZIGUP plc | Annual Report and Accounts 2026
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Corporate governance Other information ZIGUP plc | Annual Report and Accounts 2026Financial statementsStrategic report
Our vision and purpose are supported by our strong culture.
Our strategy
We leverage the strengths of our
complementary businesses.
Together these deliver integrated mobility solutions across the vehicle lifecycle.
Remuneration
We align reward for our people
with the success of the Group.
We review these against a range of relevant financial metrics, and where appropriate
also against a number of personal and strategic objectives.
Stakeholders
We look to create long-term
sustainable value.
Investing in the business for the benefit of our diverse stakeholder groups
and our social environment.
Our purpose framework
Our vision.
Our purpose.
We keep customers moving, smarter.
We are focused on placing customers at the centre of our business, offering a broad
range of services that can be flexed and tailored to each of their needs.
Our culture.
Supported by a strong culture
and identity.
Our corporate values promote an inclusive and supportive culture
of teamwork, integrity and support.
See our Strategy Page 22
Read our Remuneration report Pages 94 to 109
Read more on our stakeholders Pages 20 to 21
Read more on our culture Page 26
Our purpose framework
02
Corporate governance Other information ZIGUP plc | Annual Report and Accounts 2026
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Corporate governance Other information ZIGUP plc | Annual Report and Accounts 2026Financial statementsStrategic report
ZIGUP at a glance
We are an integrated mobility provider delivering end‑to‑end vehicle solutions ranging from fleet rental and
management to accident support, repairs and disposal – to keep our customers moving smarter.
Vehicle provision
Vehicle rental, service and
maintenance across the UK,
Ireland and Spain to a range
of blue-chip, public sector,
corporate fleets and SMEs.
Wide range of fleet options
including small to large panel
vans, customised vans, e-LCVs
and specialist vehicles including
refrigerated, traffic management
and support.
Bodyshop repair
Vehicle damage repairs for
cars and LCVs, including
plastic welding, structural and
aluminium body repairs, together
with mobile repair, glass repair
and replacement services.
Claims support
and accident
management
End-to-end handling of any
accident claim on a UK customer
fleet or policyholder’s behalf from
initial incident reporting to repair
and insurer management.
Vehicle disposal
Extensive range of used
vans and cars offered to
businesses and individuals
through retail sites in UK, Ireland
and Spain and online auction
platforms, with comprehensive
after-sales support.
Principal disposal route for the
Group’s fleet. Our e-auction
platform is also used by other fleet
operators to sell their vehicles.
Replacement
vehicle
Replacement vehicle provision
following an accident, either
through credit hire arrangements
or direct hire for insurer’s
own policyholders.
Like-for-like replacement
vehicles in event of a non-fault
accident, or where customer
has subscribed to an upgraded
courtesy car policy.
Fleet support
and services
Management of the performance,
compliance and maintenance of
commercial fleets such as service
scheduling, telematics, driver liaison,
training, downtime management and
EV fleet consulting.
What we do.
ZIGUP at a glance
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Corporate governance Other information ZIGUP plc | Annual Report and Accounts 2026Financial statementsStrategic report
Corporates
We support corporates from blue-chip to SMEs
across a broad range of industries from support
services to infrastructure.
Public sector
Accredited through a number of framework
agreements, as well as specialist services
including emergency and highways services.
Insurance and leasing
Working with many of the UK’s leading insurers
and insurance brokers, as well as contract hire
and leasing companies.
Consumers
Whilst our services are delivered principally
through B2B relationships, we offer rental and
incident claims handling through retail and
partner channels.
We keep customers mobile
through nationwide networks
and partnerships.
We are trusted by customers
across many sectors and
industries to support their
regular mobility needs or
by helping them when
unforeseen events occur.
Vehicle fuel types
LCV
Cars
Diesel Petrol EV and hybrid
UK and Ireland Spain
Total fleet
139,400
Total rental locations
90
Total repair locations
173
Total colleagues
7,6 0 0
Rental fleet
47,4 0 0
Rental locations
62
Repair locations
122
Colleagues
6,100
Replacement
vehicle fleet
14,100
Rental fleet
77,900
Rental locations
28
Repair locations
51
Colleagues
1,500
Canary Islands
Total Group sites of 185 include those where rental and repair centres are in a shared location.
Repair locations include both workshop and bodyshop locations and where these are located at the same site, they are counted as separate locations.
Keeping customers mobile.
ZIGUP at a glance continued
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Corporate governance Other information ZIGUP plc | Annual Report and Accounts 2026Financial statementsStrategic report
Supporting our customers
Supporting customer mobility.
Initial fleet choices
andonboarding
Helping make the most appropriate vehicle choices, looking at routes, payloads and specialist requirements, including fit-out
and any corporate branding. Identifying the right service locations and building an account management relationship which
ensures the rental fleet meets the mobility needs.
Using telematics and other data insights to help manage fleets with optimal efficiency, including route choices and downtime
planning and predictive maintenance. Supporting any transition to EVs together with maximising fleet flexibility and growth
throughout our relationship.
Maintaining and repairing a customer’s rental fleet when in-service, including managing planned service actions at
convenient times and locations. Flexible support from a nationwide workshop network and mobile solutions at customers'
locations. Replacement LCVs helping keep customers mobile when an unscheduled workshop visit is required.
From managing the initial reporting of an incident 24/7, including roadside recovery and identifying
claimants’ needs and entitlement as an insurance partner policyholder, through to full resolution of
the claim including replacement vehicle and repair.
Responsive and high-touch management of requirements for a replacement vehicle when a
vehicle is off the road under a partner’s insurance or corporate cover. A like-for-like or courtesy
vehicle where appropriate, delivered to the door, from EV to 4x4 and prestige cars.
A full capability from aluminium structural repair to plastic welding, paint spraying and
electronic sensor / ADAS resetting from an expert nationwide bodyshop repair network,
supporting both insurance partners and fleet customers.
End-of-rental and end-of-vehicle-life management through in-house disposal channels
both online and in branches. Customer account managers support seamless transfer to
new rental vehicle or flexibility in adjusting the fleet to better suit changing mobility needs.
Fleet management
andinsights
In-service fleet support
Vehicle disposal and renewal
Accident management
Replacement vehicle
Vehicle repair
Supporting our customers
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Corporate governance Other information ZIGUP plc | Annual Report and Accounts 2026Financial statementsStrategic report
Why we win
Our competitive
advantage.
Goodstaff
customer
professional work
time efficient
experience
hire really quick
car help
recommend
Our competitive advantage comes through our ability to deliver
outstanding customer service nationwide across a breadth of
products and services that deliver smarter on customer needs.
It is this combination and unique breadth of offering which
differentiates us from other providers.
The complexity of delivering this at scale and through an integrated
solution, is a meaningful barrier to new entrants. At the same time
our investments in infrastructure, technology and training reinforces
our market leading position and benefits the broadest range
of customers.
This is a compelling proposition for many businesses looking to
grow with a long-term, trusted outsourcing mobility partner. It helps
us retain contracts when up for renewal, and win new contracts
when benchmarked against other providers.
What our customers say about us
Word cloud created from Trustpilot
reviews for FY2026
Why we win
06
Corporate governance Other information ZIGUP plc | Annual Report and Accounts 2026
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Corporate governance Other information ZIGUP plc | Annual Report and Accounts 2026Financial statementsStrategic report
Why we win continued
Investing in growth, delivering greater economic moat Providing expert insights to keep customers moving, smarter Increasing bodyshop productivity through investing
in the latest technologies
Adding specialist vehicles to our fleet account platform Longstanding trusted partner for managing critical
recovery on the UK’s national road network
Bringing our services to the customer’s doorstep
Simplified access to
broadening fleet range
Trusted outsource partner
for critical services
Delivering smarter
mobility insights
Reinforcing market
leading position
Mobile solutions as part
of our integrated offering
Improving productivity with
infrastructure investment
For more details of our case studies please see website www.ZIGUP.com/spotlight/whywewin
07
Corporate governance Other information ZIGUP plc | Annual Report and Accounts 2026
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Corporate governance Other information ZIGUP plc | Annual Report and Accounts 2026Financial statementsStrategic report
The evolution of our UK&I businesses
61,500
total fleet
62
rental locations
57
Workshops
Northgate Mobility combines all of our
UK&I rental activities with a fleet of
over 60,000 vehicles nationwide.
From a broad range of LCVs to
specialist traffic management and
temperature controlled vehicles, and
a replacement vehicle fleet for when
customers’ vehicles are off the road.
Together, these keep our corporate customers and
insurance partner policyholders mobile, supported on a
nationwide basis with fleet management, value-added
solutions and insights.
Experts:
in fleet management
and maintenance
Nationwide scale:
57 branches with
integrated workshops
to quickly resolve
any issues and keep
customers mobile
Trusted adviser:
on smart fleet
choices, e-LCV
transition and
fleet management
insights
Excellent customer
service:
reflected in excellent
Trustpilot scores and
high customer loyalty
The evolution of our UK&I businesses
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Corporate governance Other information ZIGUP plc | Annual Report and Accounts 2026Financial statementsStrategic report
The evolution of our UK&I businesses
FMG comprises our claims
management and roadside solutions,
together with our bodyshop operations.
Together they provide end-to-end
solutions for accident management,
from roadside recovery through to
bodyshop and mobile repair services.
We are experts in managing complexity and challenging
situations, recovering and getting a vehicle back on the
road quickly following an incident, minimising repair and
replacement vehicle costs for insurers and drivers alike.
+20m
policyholders supported
65
bodyshops
500
bodyshops in our third party network
Experts:
200,000 repairs
delivered annually by
expert technicians
using the latest repair
technology
Nationwide scale:
65 bodyshops,
38 mobile repair
vehicles and a repair
network of 500 third
party bodyshops
Trusted adviser:
by major UK insurers,
fleet operators, lease /
corporate customers
as well as blue-light
services
Excellent customer
service:
24/7 driver support,
digital and telephone
claims journeys for all
vehicle types
09
Corporate governance Other information ZIGUP plc | Annual Report and Accounts 2026Financial statementsStrategic report ZIGUP plc | Annual Report and Accounts 2026
Chairman’s statement
Overview
This has been another year of significant progress
across the business, delivering on our vision
of being the leading provider of integrated
mobility solutions.
With strong performances across our rental
business, together with contract extensions and
new wins within the Claims & Services business, we
are demonstrating our competitive advantage.
Spain is experiencing substantial VOH growth as
the market for flexible van rental grows, and the
UK&I business model simplification is a key pillar
in our evolution, making it easier for customers to
contract with us and helping our business operate
efficiently. I am delighted with the progress this
programme has made to date.
The focus on simplifying our customer experience
has been reflected in industry leading Trustpilot
and NPS scores, strong customer retention and
new business growth. How we are perceived by our
customers and partners really matters and is key to
our market leading reputation and how we attract
new customers.
Equally, how we nurture staff and their development
is critical to our long-term sustainable growth, and we
place great emphasis on providing support across
the career lifecycle, from our early careers induction,
award-winning apprenticeship programme, to talent
development and leadership training.
Financial performance
Our financial performance this year reflects the hard
work of all colleagues across the business, and the
strength of our diverse business model.
The inflexion in steady state cash generation
demonstrates the growing cash returns being
delivered from our implemented fleet replacement
cycle, and this is a pivotal position where the Board
has broader optionality across growth opportunities
and capital allocation.
Having recovered from the vast majority of global
supply chain challenges we faced during and
after COVID-19 and a relatively stable market
environment emerging, we have been able to
invest for growth across fleet, infrastructure and
technology this year.
Strategic progress
The strategic pillars of Enable, Deliver and Grow
continue to resonate well across the business. In
Spain, the team have continued to broaden their
footprint and touchpoints with customers, managing
substantial fleet growth over the past few years,
including a new contract win with the national train
infrastructure operator which went live in January
2026, whilst maintaining sustainable rental margins.
The UK&I simplification touches all of these pillars,
and brings together our experience and capabilities
delivered to our customers with accelerated
momentum. Planned as an 18-month programme
to deliver tighter integration and efficiencies,
substantial progress has been made in the first six
months, including the rebranding under Northgate
Mobility and FMG. The early phases of supplier
consolidation are also bearing fruit and the business
is on track to deliver £20m of annual cost benefit
from the programme by FY2028.
Our businesses operate in markets embracing
structural change, and continue to benefit from
secular trends such as greater outsourcing and
connectivity. It is an exciting time for the automotive
and mobility sectors and we are well positioned
tobenefit.
Continuing to deliver
with momentum.
2 7.0 p 66
Dividend per share Group NPS score
This has been another year of significant
progress across the business, delivering
on our vision of being the leading provider
of integrated mobility solutions.
Avril Palmer-Lavery
Chairman
Chairman’s statement
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Corporate governance Other information ZIGUP plc | Annual Report and Accounts 2026Financial statementsStrategic report
Chairman’s statement continued
Capital allocation
The Board sees significant opportunities to
develop the underlying business, and has a strong
balance sheet that can support both organic and
inorganicgrowth.
Our disciplined capital allocation and approach to
leverage remains an important priority for the Board.
It is an essential element of the capital structure,
and together with growing steady state cash
generation, brings substantial financial capacity
andflexibility.
Reflecting this strong cash generation, the
Board has proposed a final dividend of 18.2p,
which together with the interim dividend of 8.8p,
represents an 2.3% increase over the prior year.
Shareholder returns are important constituents
within our capital allocation framework.
Our people and sustainability
On behalf of the Board, I would like to express
our thanks to all of ZIGUP’s colleagues who
have worked tirelessly for the business and our
customers over the past year, demonstrating our
core values every day.
We have been investing in training and technical
skills across the businesses, and our award-winning
apprenticeship programme is providing the skills
needed for the future. Our talent development
programme is also providing greater structure and
clarity for those who we see as future leaders.
We were proud to have achieved our carbon
reduction targets ahead of schedule last year. This
accomplishment, combined with our commitment
to support our customers' decarbonisation efforts,
encouraged us to establish new, more ambitious
near term science-based targets across all Scopes,
and we have submitted these targets to the SBTi
for validation.
The pathway we will take to achieve our near term
targets and become net zero will be detailed in our
Transition Plan, which is expected to be finalised in
the coming months.
CFO appointment
Rachel Coulson joined us in August 2025 as
CFO and we have very quickly benefitted from
the insights she has brought from her senior
finance roles in FTSE 100 businesses and strong
background in technology transformation. She
brings a clear perspective to the Board table and
has made fast progress delivering change across
finance, and technology, as well as supporting
commercial business operations.
Board and governance
We benefit from the diverse skillset and experience
of our Non-Executive Directors, including depth
across automotive, technology and people.
Ourdiscussions are wide-ranging and the Non-
Executive Board members provide constructive
challenge and support to the executive team in
equal measure.
I will continue to explore further opportunities to
enhance the breadth and skills of the Board, and
was pleased to see ZIGUP leading the UK FTSE
250 Women Leaders Review rankings over the last
five years on board gender diversity.
Stakeholder engagement
Last year we proposed a Value Creation Plan (VCP)
which was approved by shareholders at our last AGM.
Having consulted widely with our large shareholders,
there was a clear endorsement of our proposals,
taking into account the policy restrictions on some
funds' ability to support such an innovative structure.
Following the AGM, we engaged as normal with all
our major shareholders as part of our interim results
roadshow, where the VCP was regarded in nearly
all meetings as being a positive initiative to align
shareholder value.
This year we expanded our in-person investor
engagement activities with a US East Coast
roadshow in January with three days of investor
meetings. We also undertook several UK site visits
for lenders, equity analysts and investors, where
our operational teams were able to showcase our
competitive advantage. The feedback was excellent
and the attendees quickly realised the scale, depth
and capabilities of the business and positioning in
the market.
The Group's investor relations programme has again
been recognised this year as best in class: both for
innovation in investor relations and for our corporate
website for the third consecutive year in the UK and
also as Best in Europe, which supports our efforts to
raise awareness of how we are creating value.
Looking forward
Our rental markets continue to provide healthy
demand for our service-led product offerings, and
we are confident in the outlook for FY2027 with
VOH growth expected in both geographies. In
our FMG businesses we see a good pipeline of
opportunities, high contract renewal rates and
increasing repair productivity.
We are well positioned to deliver growth in line
with market expectations for profit for the year,
which take into account the cost savings identified
from our UK&I simplification and are tracking well
towards our target of generating in excess of £200m
in steady state cash in FY2028.
Avril Palmer-Lavery
Chairman
7 July 2026
Hear how we have expanded our fleet
and supporting service solutions to grow
our Spanish presence by over 25% over
the past three years. Leaning into strong
macro-economic growth, our Spanish
team has developed a set of differentiated
products which are centred around
service-focused solutions.
These are driving demand for fleet rental
across both large corporate fleets and SMEs,
both of which are looking for a solution which
comes with a full service wrap so they can focus
on their business. With over 50 locations in
Spain we have a clear market leading position,
through our ability to deliver at scale nationwide,
and this differentiation continues to grow as we
expand our fleet and presence.
Reinforcing market
leading position
Find out more on our website www.ZIGUP.com/spotlight/whywewin
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Corporate governance Other information ZIGUP plc | Annual Report and Accounts 2026Financial statementsStrategic report
Strengthening our
leading position.
Overview
This has been an excellent year and I am delighted
with the progress made across our business as we
strengthen our position as the leading integrated
mobility solutions provider. We delivered a near
10% growth in EBIT, excluding disposal profits,
reflecting both the underlying strength of our offering
and sustained demand. With the normalisation
of supply dynamics supporting fleet replacement
we have also seen an inflexion in our steady state
cash generation and remain on track to generate in
excess of £200m in steady state cash in FY2028.
The UK&I simplification has been progressing at
pace with both operational milestones and cost
savings on track, with Northgate Mobility and FMG
brands operating from 1 May 2026.
Spain delivered stand-out performance, with
underlying revenue up 16%, capitalising on our
strong market position and favourable macro
economic conditions. UK&I Rental also performed
well, with new business wins and growth across
specialist vehicles and additional services. Both
rental businesses finished the year with good
momentum in VOH growth.
New supply and used vehicle markets have been
stable, supporting the later stages of our fleet
refreshment programme, with both rental fleets
well within efficient average ages. As a result, the
inflexion in steady state cash flow was seen as
expected in the year, up to £96m from £17m in the
prior year. Growth capex of over £130m reflects the
excellent opportunities seen for driving both VOH
and share growth, with the Group’s fleet growing
7,800 vehicles in the year.
Our differentiated business model continues to
attract insurance partners to our integrated mobility
platform. We secured a number of significant
contract extensions and new signings, including
National Highways, global insurance broker
Howden Insurance and a multi-year renewal with
Tesco Insurance.
Well positioned in healthy market
environments
The markets we serve continue to embrace the
structural trends of outsourcing and demonstrate
an increasing preference for using a limited number
of suppliers able to provide a breadth of product
offering, combined with national scale and reach
where appropriate. Larger customers in particular
are looking for expertise and support from a long-
term partner with a breadth of mobility solutions and
greater digital integration. As mobility is a core need,
our markets are also more resilient to macro-led
volatility than many other support sectors.
Our business model is therefore working well
and we are extremely well placed in attractive
markets as a top-three participant, where our scale
and breadth of capabilities put us in an excellent
competitive position. Over the course of the year
we have looked to further our advantage, attracting
and retaining customers with a differentiated and
simplified proposition while increasing our capacity
through productivity and efficiency. In Spain, we
have highly competitive products for both minimum
term and flexible product offerings, allowing us to
lean into demand in a strong macro-environment
and appealing to both large corporates and SMEs.
In the UK, the breadth of our rental product range,
including a growing range of specialist vehicles
and range of value-added solutions, places us as
a very strong contender for large fleet tenders. As
the only integrated provider of both recovery and
repair solutions at scale, we are also able to address
opportunities with a compelling proposition in many
market verticals, which delivered year-on-year
growth in hire volumes through both new wins and
organic growth.
Chief Executive’s review
+9.7% +5.2%
EBIT (excluding disposal profits) Revenue (excluding vehicle sales)
This has been an excellent year and
I am delighted with the progress made
across our business as we strengthen
our position as the leading integrated
mobility solutions provider.
Martin Ward
Chief Executive Officer
Chief Executive’s review
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Corporate governance Other information ZIGUP plc | Annual Report and Accounts 2026Financial statementsStrategic report
We focus on NPS scores as an indicator of our
success in delivery to corporate partners, and
Trustpilot reviews to identify how our customer
service is being received on the ground. Overall
the Group NPS score rose by two points to 66 and
UK&I rental businesses maintained a 4.9 Trustpilot
score throughout the year. In Spain, NPS scores are
ahead of industry benchmarks with customer loyalty
KPIs at historic highs.
Differentiation through customer
experience
Excellence in customer service and technical
capability delivered across a breadth of products are
key determinants of competitive advantage in our
markets. Our track record in service delivery across
our markets is why large corporates, vehicle leasing
companies and insurance partners increasingly look
to us for support at scale for their mobility needs.
For example, in Spain we are unique in the level
of our service provision and are the market leader
for flexible rental; due to our branch and workshop
capability, which managed over 250,000 workshop
visits last year. In UK&I Rental the breadth of
our vehicle range and expertise in value-added
solutions such as fleet management and EV
consultancy are important differentiators for
customers. Telematics insights are an important
value-added service for a number of customers
supporting fleet optimisation and EV transition, and
have proved to support overall customer retention
for us.
Our Claims & Services integrated offering is unique
and allows us to support a far broader range of
solutions, with partners increasingly taking multiple
solutions from us. The National Highways 10-year
contract renewal reflects our consistent success
in delivering critical services, and provides a track
record and expertise for growing our broader
recovery and out-of-hours solutions.
Disposal profits
The used vehicle market has been relatively
stable over the past 12-18 months after a period of
significant supply/demand imbalance, with disposal
profits moderating as expected. These are likely
to continue to moderate as the historic lack of new
supply in 2021-23 reduces defleet volumes for a
period, before the market readjusts as a greater
number of used vehicles appear on the market.
Strategic positioning for growth
Our strategic actions this year have focused on
leveraging our competitive advantage with new and
existing customers. The Spanish contract with the
largest rail maintenance operator is a reflection of
our scale and nationwide footprint, with 25 branches
involved in delivering and supporting 700 vehicles in
the year. New hub facilities in core urban locations
and two new service centres have expanded the
service capacity necessary to support a rapidly
growing rental fleet, which grew above the rental
market rate for another year.
The UK&I simplification is a continuation of the
evolution of our operating model. Northgate Mobility
was launched on 1 May 2026 and aligns all vehicle
provision and branch operations together, while
FMG’s incident management and repair operations
are undertaking greater integration. Alongside
simplifying the customer proposition and improving
engagement channels, both divisions have also
worked on streamlining their procurement actions,
looking to achieve a more focused supply chain and
operational support.
We also took the decision to accelerate our exit from
two loss-making and non-core markets; personal
injury claims and EV charging infrastructure, where
we determined there were limited prospects for
acceptable returns in the medium term; which will
support improved future group profitability.
Our strategic collaboration with Microsoft,
announced after the year end, reflects our
ambition to use AI technology and its potential
for leveraging data analytics for the benefit of
customers and colleagues alike. Our initial focus
will be on deploying the capabilities that make up
a‘frontier firm’ across over 3,500 colleagues, and
to encourage use cases that will deliver incremental
efficiencies and insights.
Hear how we have worked with National Highways
for the past 18 years as a trusted partner, providing
specialist statutory recovery on the UK’s strategic
network of motorways and major roads.
We recently were awarded an extension to the
contract for up to a further 10 years, reflecting our
performance against stringent service standards,
and the strength of the working relationship over
the past two decades.
With an upgraded operations control centre
and development of bespoke apps for traffic
officers, we continue to seek ways to improve the
quality of service and of the information available
to those working to keep our roads clear and traffic
moving freely.
Chief Executive’s review continued
A trusted outsource partner for critical services
Find out more on our website www.ZIGUP.com/spotlight/whywewin
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Disciplined investment delivering
productivity gains
We have invested in infrastructure and technologies
that underpin profitable growth and support
improved customer delivery. In Spain, alongside
three new facilities and additional vehicle handling
expansion at a further four depots, further digital
integration and a new customer portal strengthen
long-term partnerships; and a new CRM system
has quickly delivered greater pipeline visibility and
prioritisation of rental opportunities.
In the UK&I Rental business, the focus has been
on our One Road and One Fleet programmes,
simplifying the customer journey and maximising
access across all our fleet, alongside delivering
higher margin value-added service opportunities.
Northgate Highways has expanded to deliver
services from four depots across the UK, better
able to be more responsive to customers’ traffic
management needs.
Chief Executive’s review continued
Notable awards won in the year
The UK bodyshop network has invested in
technician tools and training to improve productivity
and key-to-key times, and brought structural
aluminium capabilities in-house. Our newly located
and fully modernised Cardiff bodyshop, with 28
repair bays and a mobile paint booth, is a good
example of our target facility size and workflow.
We have also expanded the mobile bodyshop fleet
to manage smaller repairs at customer locations,
freeing up bodyshop capacity.
The roll-out of a new telephony platform, with
greater in-call support and process automation, was
successfully implemented in one of our major claims
contact centres, alongside further API solutions and
self-service portals for major insurance partners;
which are key enablers for enhancing claims
process efficiencies and customer service.
Mobile solutions as part of our integrated offering
Hear how our mobile solutions support
customers keeping mobile by providing
maintenance or repair services at a
customer's workplace or home,
integrated into our mobility solutions.
This enables managers to improve fleet
uptime by having vehicle servicing and
minor fault corrections undertaken at
onsite mobile clinics, minimising vehicles
going to workshops.
Our repair vans are mini-bodyshops, able
to set up on a driveway or workplace and
undertake a wide range of repairs including
panel painting. With mobile repair vans
working from most of our bodyshops,
they help improve productivity and
key-to-key times by managing smaller
tasks at a convenient time and location
for customers.
Feedback on our mobile solutions has
been very positive, with both servicing
and repair customers finding our ability
to resolve their mobility needs at their
convenience a great example of customer
service excellence.
Find out more on our website www.ZIGUP.com/spotlight/whywewin
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A differentiated and commercial
sustainability proposition
As a key outsourcing partner in customers’ value
chains, our actions also support their sustainability
goals as well as our own emissions reduction
roadmap. For large corporates with science-based
targets or public sector customers, the ability to
provide verified data and practical expertise in
advising on the transition to lower-carbon mobility
are meaningful considerations for fleet customers.
The insurance sector’s journey toward
decarbonisation has also made sustainability a key
lever for cost control, helping win and retain accident
repair contracts. We have also aligned our repair
operations with the ARIES best practice approach,
and have been invited to join its governance board.
Having achieved our initial carbon reduction targets
ahead of their FY2027 target we have established
new and ambitious science-based targets across
all Scopes, looking out to FY2035. These will be
published later this year, together with our Transition
Plan setting out our pathway to net zero.
Supporting our people
Investing in our colleagues’ development and
training strengthens our delivery capability and
supports consistent, high-quality service for
customers. It also deepens our expertise as trusted
partners to customers looking for support with
complex mobility needs. High NPS scores and
Trustpilot reviews reflect the commitment across the
Group for delivering outstanding customer service.
Our people strategy, launched last year, has been
embedded across the business including a unified
talent and succession platform. This has helped
broaden our talent mapping and development
targets to build longer term readiness and resilience
across the business, such as internal promotions
in Spain rising 25%. Our overall engagement
score of 74% reflects the strong level of pride and
commitment across the organisation.
Enhancing our in-house technical training has also
been a core focus, including developing a Master
Technician programme for Northgate Mobility, and
certification for our Vehicle Damage Assessors.
We now have 40 apprentice pathways spanning
from early careers to degree level, and from
technical disciplines to finance and AI, with over
525 apprentices working across the Group,
of which 125 joined this year.
Hear how our investment both in advanced tooling
and in larger facilities helps to deliver not only
improved productivity and workflow through the
repair process,
but also a motivated technical team.
Bodyshop technology is developing rapidly, with
plastic welding and ADAS solutions now used
across our network, and mobile paint booths being
our latest investment. This reflects the greater
connectedness of vehicles and use of advanced
materials which allows us to continually deliver for
our customers.
Together with building colleague loyalty, and
helping deliver lower levels of voluntary turnover,
especially for technicians, these programmes are
helping deliver a much stronger pipeline of technical
capability at a time of continued skills shortage
across the industry.
Strong financial capacity and
sustainable shareholder returns
We have strong support from a broad range of
lenders, attracted to our diverse customer base and
asset-backed profile, where fleet assets rose by
over £250m on the prior year to £1.76bn. Combined
with the strength of our balance sheet, our
operational scale and depth of fleet generate strong
OEM relationships and flexibility in supply options.
Together these are a key strategic advantage
in managing our fleet, especially in a period of
attractive market opportunities, and as a result we
have been able to successfully grow the fleet in
Spain and increasingly also in the UK&I.
Given our continued confidence in the business
and its prospects, subject to shareholder approval,
the Board has proposed a final dividend of
18.2p per share (FY2025: 17.6p) to be paid on
30September2026 to shareholders on the register
as at close of business on 28 August 2026. This
would result in a total dividend for the year of 27.0p
(2025: 26.4p), a 2.3% increase on the prior year.
Martin Ward
Chief Executive Officer
7 July 2026
Chief Executive’s review continued
Improving productivity
through investment in
infrastructure
Find out more on our website www.ZIGUP.com/spotlight/whywewin
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Our markets
Leading positions in our target markets.
Overview
LCV
Fleet customers are increasingly looking to
outsource their LCV fleet needs – either for a
portion of their fleet or in its entirety. This structural
trend is due to a combination of factors, from
the rising cost of new vehicles to the increasing
complexities of managing a multi-site fleet, or
the fact customers require support to manage
atransition to e-LCVs.
Rental offers greater flexibility in managing fleet
size, lower capital expenditure, improved flexibility
of hire duration and better service support.
Many businesses in the UK and Europe offer
such services, but larger corporate fleets are
increasingly focused on the larger rental
operators, where LCV supply is part of a
broad range of vehicle types.
While many larger operators can offer customers a
range of additional fleet services and efficiencies,
as well as superior vehicle choice and access
to the latest analytics, ZIGUP has the additional
advantage of being able to provide true nationwide
coverage and high levels of in-sourced service
support, principally focused on LCVs.
Market opportunity
Our customer base of over 17,000 rental customers
and over 200 claims and services partners is
growing, supported by both acquisitions and
underlying market growth, driven by the secular
move to outsourcing non-core activities.
Clients are attracted to the services and breadth
of vehicle types they can access from the Group's
integrated platform, the simplicity this brings
to complex processes, and our specialist
technical expertise.
Our market-leading NPS and Trustpilot scores
reflect the focus we have on excellent customer
service as a key differentiator, and our ability to
provide a consistent level of support nationwide.
Accident management and repair
The broader market comprises a range of accident
and claims management, replacement hire and
bodyshop repair specialists. They typically offer
services in a particular vertical, with few offering
multiple solutions, often as part of a consortium,
rather than fully integrated.
As an integrated solutions provider, ZIGUP's
differentiated offering provides clear benefits to
customers: breadth and quality of services offered
through its claims and services platform; the ability
to fully connect into insurance partner systems; and
efficiencies including scaling automated processes
and self-serve portals for policyholders.
The UK bodyshop market has been consolidating
over the past two to three years, with fewer
single-garage service centres and bodyshops;
these have been acquired to form part of national
chains better able to cope with the investment
required for more modern complex vehicles. There
also remain a number of in-house operations within
large insurance companies, although the trend of
insurers outsourcing requirements to networks of
independent repair centres or nationwide bodyshop
group operators, such as ZIGUP, continues.
Vehicle supply
ZIGUP is one of the largest single
purchasers of LCVs in the UK and Europe
and has relationships with over 40 OEM
automotive brands. This strong supply-side
network typically allows early access to new
vehicle supply at scale and at attractive rates,
helping us refresh and expand our fleet
of over 139,000 vehicles according to
customer demand.
Markets have been increasingly normalising
over the past two years, following on from
the tight supply conditions for new vehicles
and parts from 2021 to 2023. This has been
alliedto a stabilising of residual values for
used vehicles.
EV and new technologies
As next-generation technology offers
greater range and flexibility potential for
fleet users, e-LCV adoption is expected to
grow significantly in the coming years, as
they come to market. Customer's takeup of
e-LCVs is determined by a number of factors,
including the requirements of public sector
mandates and net zero commitments.
Payload and range limitations remain a
critical factor in real world usability, and a
growing number of fleet customers are
using our EV consultancy services to help
support their transition plans and alignment
with expected future regulatory changes,
such as the phasing out of sales of new
ICEcars and LCVs.
• Shifting consumption
and behaviour
• Changing customer expectations
Structural trends
Several structural trends are shaping our business, driving momentum and creating opportunities:
• Natural resource
management and circularity
• Sustainable mobility
• Transformative technology
and increased outsourcing
• Employment and skills gap
• Lower-carbon vehicles
• Climate change
infrastructure transition
Find out more on our website www.ZIGUP.com
1. Consumer experience 3. Resource efficiency2. Technology and skills 4. Energy transition
Our markets
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Our markets continued
UK and Ireland:
LCVs
The total number of LCVs on the road in the UK and Ireland is
estimated at 5.2 million, and the outsourced segment makes up a
modest but growing percentage. The decision for short term rental
over long-term leasing is determined by several factors, including:
financing exposures, greater flexibility in managing fleet size from
shorter leasing durations and the advantage of full service and
maintenance support offered by rental solutions.
Within the UK, ZIGUP is estimated to be the second-largest rental
company by number of LCVs, and the largest specialising in B2B
flexible and term rental. The companies in third and fourth position
are estimated to be under half our fleet size and with no national
branch network. Around half of our vehicles are on hire with
industries which support the backbone of the UK economy, from
local government, and healthcare to engineering and utilities; a
further third support retail and consumer services.
Customers are increasingly attracted by our range of ancillary
services. These include bespoke fitout, telematics, fleet
management and support services, consulting and end-to-end
support for the transition to EVs.
Spain:
LCVs
The total number of LCVs is estimated at 4.2 million, with the rental
segment representing around 6%, well below the level seen in more
mature markets. Smaller car-derived vans represent over half the
rental fleet, a significantly higher proportion than in UK and Ireland;
at15 years the average fleet vehicle age in Spain is also higher.
LCV rental has seen significant growth over the past five years,
competing with ownership and leasing which have remained the
traditional routes for most corporates. Flexible rental has attracted
strong interest both from large corporate fleets looking to manage
overall capacity, and smaller businesses where ownership is not
viable within their business model.
There are several large market participants; principally traditional/
leasing companies focused on the minimum term rental product
that typically has limited physical operations or internal service
capabilities. Within the flexible rental segment, where a strong
branch network is necessary to support a higher level of customer
engagement and shorter hire durations, there are very few national
or regional players. Northgate Spain has the largest fleet and branch
network, with the second-largest provider of flexible rental having
less than one third of our fleet size.
Accident management,
claims and repair
In the UK, there are estimated to be over 42 million vehicles on
UK roads and around 2.5 million road traffic accidents annually,
resulting in c.1.7 million insurance-related vehicle repairs
being undertaken.
Each claim results in different and complex legal processes but
will typically involve incident recovery, replacement vehicle loan
and bodyshop or mobile repair. Our existing insurance partners are
estimated to represent over 20 million policyholders, and typically
contract with providers to secure their hire and repair capacity needs,
or as referral partners. We also support large leasing companies
that are in the UK's top 50 contract hire and leasing companies, with
incident management from the first notification of loss call.
The number of bodyshops in the UK are estimated to be around
3,000, and many of these operate as part of networks which provide
nationwide reach and capacity. Large insurers are increasingly
focused on contracting support from those who are able to utilise
the latest repair technology and provide a consistent delivery of high
quality repair to stringent service standards, requiring highly skilled
technicians and integrated processes.
Current market dynamics:
• Strong new business opportunities, as large fleets
increasing look to outsource expensive fleet replacement
• Rental is a more attractive fleet strategic option than leasing
in a higher interest rate environment and given the greater
need for service support for more complex vehicles
• Increasing interest in e-LCVs as businesses start to plan
their net zero transition, though regulatory uncertainty and
product limitations are restricting demand
Current market dynamics:
• Continued robust GDP growth, supporting market growth
from corporate expansion and startups
• Growth in both minimum term and flexible product
penetration as rental market matures
• Very few operators with a presence in all major cities, no
other nationwide service-focused operator
• Limited take-up of EVs as national charging infrastructure
limited to urban centres
Current UK market environment:
• Softer insurance cycle, a number of regulatory reviews
(Motor Insurance Taskforce, Consumer Duty)
• Consolidation both in the insurance market and also around
bodyshop groups
• A number of new specialist insurer entrants operating a fully
outsourced model
• Capacity easing in bodyshops, but technician supply
shortage remains
• Greater requirement for digital processing, increase in
ADAS and other technologies in vehicles requiring greater
investment in bodyshop technology
Total LCVs
in UK and Ireland
5.2m
Total LCVs
in Spain
4.2m
Insurance-related vehicle
repairs undertaken
1.7m
Total vehicles
on UK roads
42m
Market information based on management estimates.
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Our business model
Delivering complex outsourcing solutions at scale.
We generate revenues by providing vehicles and other mobility services
through an integrated and differentiated service across the vehicle lifecycle.
Breadth and flexibility
With national networks across the UK, Ireland and Spain, we provide
significant capability for customers requiring national coverage and
experience to manage the demands of a large fleet or policyholder base.
End-to-end service offering
Our integrated platform enables us to provide a seamless suite
of mobility services to B2B customers across the whole lifecycle,
ensuring that we maximise revenue from our customers.
Operational scale
Leveraging our strong relationships with OEMs, repair network and
wider supplier chain, customers benefit from our responsiveness and
a seamless suite of services at scale, helping keep them mobile.
They are supported by core competencies set out on page 19.
Trusted expertise
Our investment in technology and training enables us to deliver
expert customer service, including supporting EV transition.
Integrated mobility
platform
Vehicle lifecycle
management and execution
Systematic claims
and repairs
Nationwide
customer service
Future automotive
skills development
Supporting
energy transition
Our business model
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1 This number relates to early careers apprentices only.
Delivering complex outsourcing solutions at scale.
Our competencies and resources
Our scale is a meaningful barrier to new entrants.
Our scale and longstanding expertise across vehicle rental, incident and claims management
and repair services provides significant value to our customers.
Integrated
mobility platform
Systematic claims
and repair
Future automotive
skills development
The development and operation of an integrated platform delivering a
seamless suite of mobility services to B2B partners and their customers
and policyholdersacross the vehicle lifecycle. The combination of
our expertise, scale and product offering simplifies the customer
experience, flexing to our customers' mobility needs as they evolve.
Longstanding expertise and development of industry leading,
highly structured and fully documented claims and repair process,
delivering cost and audit transparency for all parties involved in
a claim and repair.
Remaining at the forefront of advancing automotive technology
through industry leading training and two IMI-accredited technical
training centres. A vocational recruitment and training team,
supporting our unparalleled commitment to developing and
mentoring the next generation of vehicle technicians.
20m
Policyholders supported
1m
Vehicles under fleet management
500
Total repair network
200,000
Vehicles repaired in FY2026
178,000
Training hours in FY2026
529
Apprentices
1
Vehicle lifecycle
management and execution
Supporting
energy transition
Nationwide
customer service
Deep understanding of market dynamics and expertise in the
management of purchasing, holding and disposal of large-scale
LCV and car fleets through market cycles in the UK, Ireland and
Spain, achieving lower hire costs for both rental and replacement
vehicle fleets and customers.
Enabling LCV fleet transitions towards low-carbon mobilitywith
industry leading advisory and EV vehicle capabilities through to
management services.
Customer-focused branch and quality-assured repair networks
anddelivery teams trusted to be the direct point of contact for
customers of our outsourcing partners. Fast turnaround times,
supported by customer service centres open 24/7.
139,400
Vehicles
42,700
Vehicles purchased in FY2026
9,600
EV’s and hybrid vehicles
40,000
Active telematic units
1,100
Customer service centre colleagues
24/7
Customer service
Our competencies and resources
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Being a long-term trusted outsourcing mobility partner.
Understanding value chain impacts and stakeholder expectations is critical to our long‑term success.
Customers and consumers
Governments and regulators
Partners and suppliers
Customers and consumers are central to our
business; from sole traders, large multi-national
fleet owners and their drivers or policyholders of
our insurance partners.
We strive to provide the highest levels of customer service and
a flexible range of mobility solutions to keep them mobile and
focused on what is important to them.
We aim to build long-lasting customer relationships and collect
direct feedback, feedback from partners as well as through
surveys such as Trustpilot, which we review at both branch and
business level.
We look to engage with governments and
regulators to maintain a constructive dialogue and
ensure we understand an ever changing landscape
for mobility.
Policies relating to the EV transition are a key focus, together
with operational safety compliance aspects and personal
datahandling.
On policy matters we engage principally through our active
participation with industry bodies, including BVRLA in the UK,
SIMI in Ireland and AEDIVE in Spain.
We seek to build mutually beneficial relationships
with all our partners and key supply chain partners,
enabling us to focus on every step in the full supply
chain and to operate efficiently. We have responsible
business and supplier policies and commit to
working in a transparent and consistent way.
We engage on a regular basis, including holding meetings to
review performance and improvement plans, and collaborate
where there are issues to improve delivery and customer service.
Key partners and suppliers have designated account managers;
dialogue increasingly includes reviews of sustainable
alternatives for products and adherence to our policies.
Delivering stakeholder value and positive impact
Delivering stakeholder value and positive
impact
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Investors
Community
Colleagues
We are committed to promoting investor
confidence and understanding, to enable
bothequity investors and lenders to make
informeddecisions.
We seek regular dialogue with market participants to
communicate our strategy and business objectives and
maintain regular dialogue with lending institutions. We maintain
regular dialogue with key lenders of the Group.
Engagement is supported by the award-winning corporate website.
Further details on our shareholder engagement can be found on
page 83 of the Corporate governance report.
We engage with the local communities in each
major location we have a presence, through our
involvement with local schools, business groups
and community organisations.
We aim to positively impact our communities by encouraging
our colleagues to volunteer locally, both individually and as part
of team activities.
We seek out and engage directly with community group leaders
and enterprises to determine how we can best support social
and environmental projects.
Activities include the loan of vehicles, volunteering and
fundraising activities.
With 7,600 people across three countries and over
180 locations, our colleagues are central to our
business performance and our ability to provide
customer service.
We are focused on attracting and retaining talent in competitive
markets and ensuring our colleagues fulfil their potential.
We promote a transparent, two-way communication
approach with our colleagues, through townhalls, internal
communications and in-person events such as the recent
leadership conference and other site visits.
We also engage in formal communications through the Voice
Network and the Have Your Say survey.
We are continually looking to develop our team members with
appropriate development opportunities.
Delivering stakeholder value and positive impact continued
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Delivering smarter on customer needs.
Through this:
We ensure our people and facilities are equipped with the right tools and skillsets to work in an
increasingly complex and connected mobility environment.
We shape imaginative mobility products which use the power of digital and connected technologies
to provide greater efficiencies and insights for customers.
Investment in our infrastructure ensures we are well placed to benefit from advances in technology
and the automotive energy transition.
Ensuring we:
Have customer service excellence at the heart of our integrated product and services offering.
Maintain a reputation for expert and reliable delivery of support to ensure customer mobility.
Seek continuous improvement across our network of modern and increasingly energy efficient
branch operations and vehicle fleets.
Achieved through:
Expanding relationships with our existing customers, built on trust, partnership and the shared benefits
of scale and the integrated mobility platform.
Extending our customer base and our operational footprint across our current regions through
differentiated products and services.
Being agile in exploring opportunities in complementary and new products and geographies.
Joined up, sustainable
mobility solutions.
A differentiated
and responsible
customer experience.
Broadening customers
and markets, and an
expanded product
offering.
Enable.
Deliver.
Grow.
Our strategy
Develop products, services and
operational capabilities which
embrace technologies to enable
increasingly connected smart mobility
within our customer proposition.
Across our broad service offering,
we are trusted to provide customer
service that exceeds expectations
and delivers industry leading
responsiveness and operational
efficiency.
Exploring opportunities to
responsibly grow the business
breadth, size and capabilities,
including into both complementary
and new products and geographies.
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Making a meaningful difference.
Social
Supporting our people and communities
Providing positive social impact by nurturing talent
from diverse backgrounds, investing in automotive skill
development, and supporting local communities.
ZIGUP’s purpose is to keep our customers moving smarter. As a leading integrated mobility
solutions provider, we make a meaningful impact by working across the full vehicle lifecycle, from
rental through to recovery and repair, supporting customers at moments that matter most.
Being a responsible organisation allows us to build trust with
our stakeholders and is important to our continuing prosperity.
The governance framework and ESG approach we have
established align with our purpose framework and the UN
Sustainable Development Goals. This framework empowers
our people to act responsibly, reduce environmental impact,
positively influence our surrounding communities, and uphold
high ethical standards.
Our leadership team promotes a culture that values
sustainability, underpinned by robust and effective
governance. Clear accountabilities, strong oversight, and
transparent decision-making ensure ESG considerations
are embedded into strategy, risk management, and
day-to-day operations, enabling the Board and executive
leadership to monitor progress, manage risks,
and continually improve performance.
Our key sustainability framework
This section forms part of a comprehensive sustainability
reporting framework outlining our approach to governing,
measuring, and reporting sustainability to our stakeholders:
• Sustainability governance
• Sustainability strategy
• Climate action
• Engagement and materiality
• Data and disclosures
Sustainability overview
Environment
Reducing environmental impact
Using our expertise to promote sustainable mobility,
extend vehicle lifespan, optimise efficiency, and mitigate
environmental risks.
Discover more Page 30 Discover more Page 26
Governance
Growing our business responsibly
Creating sustainable value for our stakeholders, operating
with integrity, transparency and responsible governance.
Discover more Page 25
Discover more www.ZIGUP.com/sustainability
Sustainability overview
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Progress Status Future actions
Growing our
business responsibly
The Customer First programme, which aims to enhance the customer experience, has led to
atwo-point increase in our NPS, now standing at 66.
• Launch the new Code of Conduct along
with e-learning material.
• Finalise the double materiality assessment
and conduct a disclosure gap analysis.
We have deployed an enterprise-wide risk management platform to strengthen governance,
insight and organisational resilience.
We conducted mock workplace fatality trials to enhance safety systems, decision-making,
andresponse to legal action, ensuring preparedness in the event of a real incident.
In the FTSE Women Leaders Review, ZIGUP was recognised for making the most progress over
five years in the FTSE 250, with 50% of the Board comprising women.
Supporting our
people and
communities
A 2% decrease in voluntary attrition in FY2026 demonstrates the increasing strength of our
colleague offering.
• Develop our diverse talent-attraction
approach through partnerships and
career events.
• Accelerate the development of identified
successors in our talent management
strategy.
We deployed a Group wide talent management framework to establish success profiles for
criticalsenior roles.
There has been a 31% increase in apprenticeship and internship numbers from our award-winning
programme over the last two years.
Participation in our people engagement survey remained strong in both UK and Ireland, and Spain,
with satisfaction rates reaching 74% and 79%, respectively.
In the UK&I, colleagues added £1.2m into their personal savings accounts during the year,
representing a 50% increase on FY2025. The scheme was also expanded to include Spain.
Northgate UK businesses increased technical training days by 40% from FY2025, with the FMGRS
facility being approved by City and Guilds for Vehicle Damage Assessor training.
Reducing
environmental
impact
We have reduced our Scope 1 and 2 emissions by 8% since FY2025 and launched e-learning
carbon literacy training, with 450 colleagues having completed the course.
• Implement an internal engagement
programme for our Transition Plan.
• Enhance the supplier code of conduct
to increase focus on decarbonisation
expectations.
• Advance on carbon reduction objectives for
EV service vehicles, alternative fuels, and
green gas.
We created a Transition Plan outlining how we'll meet our new science-based targets while
adapting our operations and strategy for a low-carbon economy.
99.9% of the electricity we use at our facilities comes from renewable sources, and the 16 solar
arrays installed across our Spanish branches generated 574MWh.
We are implementing the ARIES framework to assist our repair bodyshop in their carbon-reduction
efforts with a member of our ESG team joining the ARIES governance board.
Over the last three years we have seen a 49% increase in the purchase of green vehicle parts in
the UK from FY2024. Our Spanish operations recovered 20,500 car parts from vehicles, ready
forreuse in FY2026.
Sustainability progress
Progress key: Completed On track
Sustainability progress
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Sustainability progress continued
Governance and accountability.
Our approach
The ESG framework we have in place provides a
structured approach to managing risk, creating
long-term value, and meeting the growing
expectations of investors, customers, employees,
and regulators. This systematic approach fosters
accountability and transparency. Underpinning this
framework is a suite of policies and procedures that
set clear expectations for behaviour and decision
making, ensuring we continue to operate in line with
our values and purpose.
Leadership
The Board oversees ESG matters, with the CFO
accountable for executive oversight. The CFO, as
Chairman of the Sustainability Committee, serves
as a liaison between the Sustainability Committee
and the Board. Other key roles in managing ESG
issues include the Group Head of ESG, the Head of
Group Safety and Environment in the UK, and the
ESG Manager in Spain.
The Sustainability Committee convened four
times during the year. Its goal is to assess the
significant issues affecting our ability to generate
economic, environmental and social value. The
Sustainability Committee evaluates the steps to
address significant risks and opportunities, and
recommends alternative programmes to improve
social and environmental performance.
This year’s key outcomes of the Committee included
the following:
• Approved a Scope 3 footprint methodology change
• Evaluated the sustainability communication strategy
• Recommended new near term absolute carbon
reduction targets
• Evaluated the key people-related priorities for
FY2027
Key metrics
2 points
No.1
increase in Group NPS
position in the FTSE 250 for the progress
made in creating a diverse PLC board and
leadership teams
Commitments
• Ensure effective board
oversight of ESG
• Reinforce sustainable value
creation within our strategy
• Promote ethical and responsible
behaviour throughout ZIGUP
• Encourage a culture of continual
improvement of customer service
• Maintain accountability by
reporting on our ESG impacts
Hear how we provide a differentiated customer service in Spain, based on our nationwide network
of branches and service centres and with a differentiated in-house technical capability.
This year we have expanded the number of service points and now manage over 200,000 vehicle
repairs a year, with an increasing use of reconditioned parts. We also have grown our technical
training to help expand our overall capacity.
Northgate Spain prides itself on its technical expertise and proximity to customers, which
alongside our adaptability and responsiveness to their needs is why more and more Spanish
companies choose us to help keep them mobile.
Outstanding customer service, keeping customers
of the largest flexible rental fleet moving
Find out more on our website www.ZIGUP.com/spotlight/whywewin
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Sustainability progress continued
Our people and culture.
Culture
Culture significantly impacts how decisions are
made and how our colleagues interact within
the organisation. This ensures that our strategic
priorities are not just stated but are actively reflected
in our day-to-day actions. This year, we focused
on helping our colleagues understand our strategy
and the direction our business is heading in. In
our annual survey, 78% of colleagues reported
feeling clearer and more confident about our future,
showing strong alignment between our strategy
andleadership.
For customers, colleagues and partners, culture
directly influences outcomes. Our strong, customer-
first culture supports consistent, high-quality
delivery, enhancing our trust and reputation.
A record high NPS of 66 across the business
demonstrates that we are getting this right.
Engagement remains high across the Group,
with colleague insight consistently highlighting
teamwork, positive relationships, and effective
line management as key cultural strengths. The
improvement we have seen in our voluntary attrition
levels, which have dropped by 8ppt over the last two
years, highlights the success of our people strategy.
Nurturing the right culture is key to fulfilling our purpose
of keeping our customers moving smarter.
Strategy
Leadership plays an important role in maintaining
the right culture, so we have continued to invest
in developing our leadership capabilities. Our
engagement data shows that culture is strongest
where leadership quality and line management
experience are most consistent.
Building a strong cultural foundation involves
identifying future talent and ensuring growth
opportunities. Successors for senior roles have
been identified, with development plans in place up
to the CEO level, ensuring continuity in leadership.
As part of this work, over 500 colleagues have been
assessed, with 180 leaders actively involved in
talent mapping.
Spain implemented a development programme
that trained all leaders in key leadership and
employee relations skills, fostering a consistent
management culture.
Recruitment and development
We actively recruit and support talent from diverse
communities, providing clear pathways for all
individuals to reach their full potential. A well-
rounded combination of technical and behavioural
training can enhance business growth, strengthen
our competitive advantage, and reinforce our
corevalues.
Over the last five years, we have invested
significantly in a Group wide learning and
development programme to empower our
colleagues to learn, innovate and provide
exceptional customer service. This year 178,000
training hours were delivered. In Spain, new
regional in-person onboarding programmes have
strengthened new hires' engagement.
Key metrics
2ppt
31%
decrease in voluntary attrition since FY2025
in apprentices over the last two years
Commitments
• Work towards the goal of no harm
or injuries
• Foster a mutually supportive
workplace
• Recruit and nurture talent from
diverse communities
• Generate positive social impact in
the community
• Invest in the development of an
early careers programme
• Invest in vehicle repair training
and technology
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Sustainability progress continued
Supporting our colleagues
The level of support we offer our colleagues is
key to their growth and happiness at work. We
take a holistic approach that includes learning
and development, rewards and benefits, financial
wellbeing, and overall wellness and flexibility. Only
by looking at these areas together can we best help
meet both professional and personal needs in a
balanced and empathetic way.
We want to help our people succeed every step
of the way. We are committed to supporting our
colleagues on their journey through structured
learning pathways, mentoring, and on-the-job
opportunities. All of this contributes to building
knowledge, skills, and confidence, ensuring our
people acquire the experiences necessary to
advance in their careers.
We routinely review rewards and benefits to
ensure fairness, transparency, and alignment
with long-term value. Growing engagement with
financial wellbeing tools provides further insight into
colleague confidence and financial resilience.
Early careers
We continue to strengthen our industry leading early
careers programme, expanding opportunities that
help build the skills our business and industry need
for the future. Over the past two years, we have
grown our UK apprenticeship programme by 31%,
increasing Group apprentice numbers from 403 in
FY2024 to 529 in FY2026. Across the Group, we
now offer more than 40 apprenticeship pathways,
ranging from entry-level to degree apprenticeships
and covering disciplines from technical operations
to finance and AI.
This year, we launched a new Vehicle Damage
Assessor apprenticeship to support efficient
vehicle repair and to nurture future talent. In Spain,
internship participation rose by 25%, bringing
the total to 250 interns and enhancing our early
careersprogramme.
Mentoring and skills
In FY2025, we enhanced our mentor development
programme and continued to build on this by
training an additional 78 mentors in FY2026,
bringing the total trained across the organisation
over the last three years to 360. We believe
that mentors enhance apprentices' skills and
confidence, contributing to a more engaged and
future-ready workforce.
In FY2025, we launched a new Technical Skills
Competition aligned with the IMI WorldSkills
framework. This year, our continued support for this
initiative saw two of our apprentices from FMGRS
and Northgate UK take home gold and silver awards
at the Institute of the Motor Industry WorldSkills UK
National Finals.
Mentoring in practice
An experienced technician supporting a
newly qualified colleague and an apprentice
through structured on the job learning,
helping translate formal training into real
world capability.
“ Having the right
support is key in a
workshop environment.
I have a confident and
knowledgeable mentor
whom I can rely on for help.”
Freddie Rine
Motor Vehicle Technician – Northgate Mobility
It is important that we continue to use insight
to shape the support levels we provide. We
use a range of information sources, including
colleague feedback mechanisms such as the
Have Your Say engagement survey. Additionally,
we have a direct channel for understanding
colleagues' sentiments through our Voice
network, which comprises representatives from
across the business who regularly convene
throughout the year.
We continued to strengthen support for
financialwellbeing through access to the
Streamplatform. In the UK and Ireland
colleagues added £1.2m into their personal
savings accounts during the year, representing
a 50% increase on last year. In its first year
of implementation, Spain has enabled over
2,500 salary advance transactions, allowing
employees earlier access to their earnings.
“ It has been wonderful to
see colleagues increasingly
using Stream, a platform that
helps our colleagues access
fair financial services and
flexible pay.”
Emma Ayton
Group HR Director
For further details see website at
www.ZIGUP.com/media
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Technical pathways and training
To support talent retention and development,
Spain launched a new career plan providing a
clear pathway for progression in workshop and
bodyshop roles, with the first stage of this being the
assessment of team capabilities.
11,000 hours of technical training on vehicle repair
and maintenance were conducted in the UK this
year. Northgate UK has begun developing an in-
house Master Technician programme to ensure we
have the essential technical skills and to future-
proof our workforce. The first phase of this initiative,
expected to be completed by FY2027, involves
obtaining assessor status for our internal trainers,
enabling them to conduct the Accredited Master
Technician course.
We made further investments in technical training
programmes and facilities to ensure we continue
delivering high-quality training that keeps our
technicians' skills aligned with evolving vehicle
technologies. In addition, we enhanced our industry
accreditation with the Northgate rental businesses,
achieving international accreditation from the
Institute of the Motor Industry. Furthermore,
FMG RS became the first UK-approved City & Guilds
training centre for Vehicle Damage Assessors.
In Spain, the paint teams have strengthened
their technical skills through enhanced training
programs in collaboration with 3M, ensuring
consistent quality standards.
Colleague inclusion and engagement
We aim to engage our workforce, empowering them
to shape a more positive working environment and
enhance the overall employment experience. This
year 77% of colleagues took part in our engagement
survey, generating almost 20,500 comments and
an overall engagement score of 74%, reflecting
strong pride, commitment and openness across
the organisation.
We remain committed to creating an inclusive
culture where colleagues feel respected, valued
and able to belong. During the year, we began a
transition from a Diversity, Equity and Inclusion
(DE&I) strategy to an Inclusion strategy, reflecting
a clearer focus on everyday behaviours, lived
experience and creating an environment where
everyone can contribute and thrive.
Whilst 86% of colleagues feel accepted for
who they are at work, inclusion must be felt by
everyone, not just most people. Therefore, we are
continuing to make important changes to further
drive an inclusive culture. We have updated our
recruitment training to reduce bias and ensure
consistency in hiring decisions. We have revised
our messaging to potential colleagues to clearly
convey our commitment to inclusion in recruitment
communications. Additionally, we have enhanced our
outreach by participating in targeted career events to
expand access for underrepresented talent.
Delivery of the inclusion strategy is supported
by a Group Inclusion Squad, bringing together
representatives from each business and key
group functions. This structure supports shared
accountability, ensures alignment to common
priorities, and enables locally relevant actions that
reflect different operating environments.
Workforce composition
2026
Group workforce Male Female Total
UK and Ireland 4,005 2,089 6,094
Spain 982 493 1,475
Total 4,987 2,582 7,569
Senior management
Directors 4 4 8
Senior managers 3 2 5
2025
Group workforce Male Female Total
UK and Ireland 4,277 2,151 6,428
Spain 940 457 1,397
Total 5,217 2,608 7,825
Senior management
Directors 4 3 7
Senior managers 4 2 6
Information as at 30 April 2026. Senior managers comprise members of the Executive Committee excluding
Executive Directors.
Sustainability progress continued
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Talent and succession
We advanced our talent and succession planning
approach, developing a more structured,
organisation-wide framework. A unified talent
andsuccession platform is now established
across the Group.
This provides improved visibility into leadership
capability, performance, potential, retention risk,
and successor readiness.
Progress has also been made on diversity within
leadership pipelines. Female representation in
successor pools for senior leadership roles is
currently 26%. At the Board level, our progress was
recognised in the FTSE Women Leaders Review
2025, with female representation increasing from
14% to 50% over the past five years.
Health and safety
We continued to carry out targeted management
training and leadership engagement on health and
safety matters. Our AFR increased marginally to
1.8 (2025: 1.7). We held three immersive health
and safety mock trial events in which leaders faced
realistic scenarios. This experience helped them
understand the consequences of their decisions
and enhanced their skills to ensure the safety of
our people.
Wellbeing
We continued to enhance awareness of our benefits
offering by printing and distributing benefit booklets
across all branch locations. This initiative contributed
to a 5% increase in usage of the Benefits Hub.
Holiday Flex was launched, allowing colleagues to
buy or sell up to five days of annual leave.
We enhanced our pension offering by moving to
a Master Trust, giving colleagues access to real-
time pension visibility, financial wellbeing tools
and exclusive discounts. Pensionable pay was
standardised, and banded earnings were removed,
so employer contributions apply to the full basic
salary, supported by an approved salary sacrifice
scheme allowing tax efficient contributions.
Over the last three years, we have introduced a
range of services and support to promote greater
financial inclusion, including free shares, financial
education sessions, and tools to help individuals
plan and budget more effectively. This included
Stream, a platform to improve workers’ financial
wellbeing by giving them access to fair financial
services based on flexible pay.
Spain expanded flexible working options to better
respond to individual needs, supporting a healthier
work–life balance.
Community
We published a community impact and social value
policy that outlines how we encourage and support
our colleagues in creating a positive social impact in
communities. This policy, along with a Volunteering
policy, offers clear guidance on how colleagues
can engage in volunteering activities that align with
our values and business priorities while making a
meaningful difference.
Mental health
FMGive
To enhance resilience and promote physical
wellbeing, an ambassador from Andy's Man
Club, a mental health charity dedicated to
suicide prevention, conducted both in-person
and virtual sessions throughout the UK.
Additionally, we increased our investment in
mental health support by expanding the number
of Mental Health First Aiders, improving access
to trained support across our locations.
Our FMG business has significantly
strengthened its commitment to the local
community in Yorkshire through its FMGive
program. Employees contributed a total of
145 volunteering days and raised £22,000 for
local hospices. They supported the community
through various initiatives, including food
drives, Christmas toy donations, and hands-on
activities such as gardening and repairs for a
local animal charity.
Sustainability progress continued
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Sustainability progress continued
Environmental sustainability.
Using our expertise to promote sustainable mobility and minimise
environmental impact.
Impact reduction
We are continually improving our management
systems to reduce environmental impact, minimise
water consumption, and enhance energy efficiency.
Our Scope 1 and 2 emissions have been reduced
by 8% this year, and by 25% since FY2024 (our
carbon footprint baseline). This reduction mainly
relates to our management of vehicle movements.
Operational improvements have reduced emissions
from vehicle logistics, whilst new systems and
processes have produced more accurate vehicle
data to calculate our emissions.
Circular economy
We continue to embed circular economy principles
into our procurement strategy and operations to
minimise waste. We produced 6,600 tonnes of dry
waste in the UK and Spain, with 100% of this waste
diverted from landfill in the UK and 94% in Spain.
Over the last three years we have seen a 49%
increase in the purchase of green vehicle parts
in the UK since FY2024. Our Spanish operations
recovered approximately 20,500 vehicle parts to
bereused, valued at £4m.
Transition Plan
We have produced a transition plan that details
our journey towards net zero including our value
proposition, market context, near term science-based
targets, and commitment to creating sustainable,
long-term value in a low-carbon economy.
We are investing in our people, capabilities and
partnerships, focusing on decarbonising the areas
we can directly control, and working constructively
with policymakers and industry bodies to remove
barriers to progress. Through this pragmatic and
collaborative approach, we believe we can deliver
sustainable growth while supporting our customers
on their own journeys to net zero.
Commitments
• To achieve our Scope 1, 2 and 3
science-based targets by 2035
• Embed circular economy principles
in our operations
• Environmental impact reductions
achieved across our sites
• Work with key suppliers to set
sustainability targets
• Enabling a just transition towards
low-carbon mobility
Key metrics
8%
49%
reduction in Scope 1 and 2 emissions
since FY2025
increase on green parts spend
since FY2024
Science-based
carbontargets
Emission reductions by 2035
We are committed to setting near term science-
based targets to 2035. This will include Scope
1 and 2 targets in excess of a 40% reduction
from FY2024 to 2035, and a Scope 3 target
focused on the transition of our client vehicle
fleetwhichcovers approximately 70% of our
Scope 3 emissions.
Our targets have been submitted to SBTi for
validation and will be published shortly in our
Transition Plan.
By linking our ambitions against these science-
based targets, we are embedding climate
responsibility into the Group's long-term
strategy and governance.
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Vehicle accident repair.
ZIGUP manages vehicle accident repairs through our FMG RS
business, with repair centre locations across the UK and mobile
solutions, complemented by a network of external repair centres.
Sustainability is crucial for long-term viability
in the repair sector. It is increasingly important for
vehicle accident repairers to reduce their carbon
emissions and pursue more sustainable outcomes,
both commercially and strategically. Insurers are
facing growing pressure to decarbonise their value
chains and reduce Scope 3 emissions.
Sustainability progress continued
Our approach focuses on restoring existing vehicle
components to minimise costs, reduce waste, and lower
lifecycle carbon emissions. We are implementing the ARIES
framework to support our carbon reduction objectives.
Sustainable vehicle repair
“ In everything we do now in training sessions,
in performance reviews, we're bringing people on
the journey. It's important that the environmental
approach to repairing vehicles is as important as
the technical aspects.”
Paul Wrigglesworth
FMG RS Managing Director
Additionally, energy-intensive processes, rising
material costs, and waste disposal create direct
financial incentives for operating more efficiently.
As a result, sustainability is no longer a peripheral
concern; it is becoming central to competitiveness,
contract retention and long-term business viability
within the repair sector.
Find out more on our website www.ZIGUP.com/spotlight/whywewin
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Key performance indicators
Risk key
1. The world we live in
2. Our markets and customers
3. Fleet availability
4. Our people
5. Regulatory environment
6. Technology and digitalisation
7. Recovery of contract assets
8. Access to capital
Our core financial KPIs
Our core financial KPIs measure progress of our strategic priorities
in delivering profitability, revenue and returns.
Remuneration
Our financial metrics form the majority of the elements within Executive Director and leadership team performance compensation: 75% of annual bonus is based on PBT
targets and 25% from non-financial objectives, including both operational and environmental elements whose outcomes are seen within our non-financial KPIs.The VCP
plan vesting in FY2028 is based on share price growth (plus dividends paid) over a three year performance period which is closely linked to shareholder returns reflecting
performance across all KPIs.
Growth
Revenue (excluding vehicle sales)
£1,636.3m
+5.2%
How we calculate it
Underlying revenue includes hire of vehicles, and Claims &
Services revenue, but does not include sale of vehicles at end
of rental life.
Why it matters
Underlying revenue measures levels of the Group’s activity
across internal organic growth and acquisitions, and excludes
the distorting effect of revenues from vehicle disposals, which
can vary depending on timing of fleet replacement.
How we performed
Underlying revenue growth was driven by the rental
businesses, with increased VOH and hire rates in Spain,
alongside hire rate increases in UK&I Rental. Claims
& Services revenue increased, through claim volumes
supportedby new contract wins and strong rates, offsetting
lower repair volumes.
Risks
1, 2, 3, 4, 6, 7, 8
Profit
Underlying profit before tax
£160.1m
-4.1%
How we calculate it
Underlying PBT is stated excluding exceptional items and
other recurring amounts including amortisation of acquired
intangibles and certain adjustments to depreciation.
Why it matters
Underlying PBT is our key measure of profitability and
performance and identifies the success in delivering
business growth, efficiencies and operating margins.
How we performed
EBIT excluding disposal profits grew by 9.7%, driven by
strong rental performances as well as an increase in Claims &
Services profits. An expected reduction in disposal profits, due
to lower volumes and lower PPUs in the UK&I, as well as an
increase in finance costs due to a continued investment in fleet
resulted in 4.1% reduction in PBT.
Risks
1, 2, 3, 7
Returns
Underlying earnings per share
53.1p
-9.2%
How we calculate it
Underlying EPS is calculated as underlying profit after tax,
divided by the weighted average number of ordinary shares,
excluding shares held in treasury and employee trusts.
Why it matters
Underlying EPS is a key measure of value creation
and helps the Board consider how to allocate capital,
including returns to shareholders.
How we performed
The reduction in the year is driven by lower profit before tax
mainly attributable to disposal profits and a higher effective tax
rate in the year, with the prior year tax charge benefitting from
certain one-off tax reliefs.
Risks
1, 2, 3, 7
Capital allocation
ROCE
11.2%
-1.4ppt
How we calculate it
ROCE is calculated as underlying EBIT divided by average
capital employed.
Why it matters
In a capital-intensive business ROCE measures how efficiently
the Group allocates capital.
How we performed
The decrease in ROCE is mainly driven by reductions in
disposal profits. Fleet growth also impacts ROCE due to
the upfront capital investment. This was partially offset by
growth in Claims & Services which is a less capital-intensive
business. The Group remains focused on maintaining strong
cost control and a disciplined capital allocation approach.
Risks
1, 2, 3, 7
2024 14.5%
2025 12.6%
2026 11.2%
2024 61.4p
2025 58.4p
2026 53.1p2026 £160.1m
Discover more Page 94
We use our KPIs to assess and monitor the performance of the Group
and to measure progress against how we execute our strategy.
2025 £1,555.0m
2026 £1,636.3m
2024 £1,520.6m
2025 £166.9m
2024 £180.7m
Key performance indicators
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Key performance indicators continued
Risk key
1. The world we live in
2. Our markets and customers
3. Fleet availability
4. Our people
5. Regulatory environment
6. Technology and digitalisation
7. Recovery of contract assets
8. Access to capital
Non‑financial KPIs
Our non-financial KPIs consider both operational performance
and how we create sustainable value:
Strategy
Our strategic priorities are centred around operational efficiency, business growth and expansion into new areas and technologies; we have quantifiable metrics against these, both in
terms of financial performance and returns, and non-financial KPIs which underpin different aspects of our strategic progress – these form part of regular Executive and Board reviews.
1 The customer experience rating is a weighted average scoring of a number of different satisfaction scores such as Trustpilot and Google reviews and has a maximum scoring of 5.
2 The NPS score represents a weighted average across the Group.
3 A prior year comparator has not been stated due to a revision in calculation methodology.
Operational
Fleet size
(’000)
139.4
+5.9%
Utilisation
91%
0ppt
How we calculate it
The growth in our fleet across both rental and Claims & Services
segments; while utilisation looks at the average percentage of the
Group’s rental fleets on hire in the year.
Why it matters
Fleet growth is a key indicator of achieving growth, while rental
utilisation reflects operational and asset efficiency.
How we performed
The fleet size increased in the year as investment was made
to grow, particularly in Spain where demand was strong. The
Group continually monitors its fleet composition dependant
on the needs of the business and our customers. Utilisation is
considered to be at an optimal level and has been maintained
in the year.
Risks
1, 2, 3
Customer
Customer
experience rating
1
4.4
-0.2 points
NPS
2
66
+2 points
How we calculate it
We review a range of customer feedback channels, including
Trustpilot and other surveys, to provide an aggregated picture
of how customers perceive our service provision.
Why it matters
High levels of customer service are crucial to ensuring
customer and contract retention, and feedback helps us
identify areas where we can improve.
How we performed
Our continued focus on improving customer service led to an
industry leading NPS of 66, a two-point increase on last year.
A consistently strong customer experience rating has dropped
slightly from 4.6 last year but remains above our peers.
Risks
2, 3, 4, 6
People
Colleague
en