Announcement of Results for the Full Year Ended 30 April 2025

ZIGUP plc (LSE:ZIG), the leading integrated mobility solutions platform providing services across the vehicle lifecycle, is pleased to announce its results for the full year ended 30 April 2025.

Martin Ward, CEO of ZIGUP, commented:

The Group has delivered a strong operational performance, reflecting a year of significant progress across the business, growing market share and benefitting from material improvements in customer service scores. We have an excellent market position as at least a top three player in each of our markets which are highly receptive environments for our differentiated mobility solutions. We are continually improving these with a technologyenabled and value-added offering which is attractive to a growing and increasingly diverse customer base. I am delighted with the progress made across the business and it sets us up very well for the coming year. Spain has grown VOH well in excess of its market, and UK&I is positioning itself well for growth with a simpler customer journey and a healthy new business pipeline. With six new partners joining the mobility platform and many of our major insurance partner contracts having successfully renewed in the year, Claims & Services has good visibility after what has been a challenging industry dynamic this year. Vehicle supply has normalised and the market headwinds of vehicle residual values and replacement hire lengths have been stable since the autumn. The refinancing undertaken in the year further enhances our financial capacity and allows us to be responsive to opportunities to generate attractive and sustainable shareholder value; we start the new financial year with confidence for underlying growth opportunities.

Key financial highlights

• Vehicle hire revenue rose 5.2%; Spain up 9.5% underpinned by strong VOH growth, UK&I up 2.0% with pricing actions offsetting a reduction in VOH in the final quarter
• Disposal profits down 15.2% to £52.5m (2024: £61.9m); total sales volumes of 34,500 (2024: 36,800): LCV residual values stable since October 2024, having moderated over H1, as previously guided
• Rental margin: Spain up 1.1ppts to 19.3%, UK&I up 0.2ppts to 15.7%; Claims & Services EBIT margin of 4.3% (2024: 6.0%) reflecting normalising hire durations early in year and H1 cyber incident
• Underlying PBT down 7.6% to £166.9m as disposal profits 15.2% lower and reduced Claims & Services profits only partially offset by rental profit growth of 9.1%
• Reported PBT of £101.5m (2024: £162.1m) includes £26.5m unwind of 2022 depreciation adjustment (2024: £nil); exceptional items of £20.6m includes £12.8m expected full costs of NewLaw withdrawing from personal injury market and £2.8m for H1 cyber incident
• Underlying EBITDA grew 4.1% to £464.5m (2024: £446.3m) due to strong operational performance; net capex outflow of £453.4m, principally replacement capex (£388.3m) with UK&I and Spain fleet ages reduced by 5.5 months and 2.7 months respectively as vehicle supply improving
• Strong balance sheet with prudent 1.8x leverage (2024: 1.5x), supported by fleet assets of £1.51bn (2024: £1.30bn) and £412m of facility headroom after refinancing actions
• Shareholder returns: 2.3% increase in full year dividend to 26.4p

Business highlights

• Fleet growth: Group fleet 131,600 vehicles (2024:128,600); improved supply has enabled Spanish fleet growth, plus significant reduction in UK&I fleet age to 28.5 mths as older vehicles defleeted
• New wins & strong demand: continued healthy Spanish environment, UK new business wins, insurance contract extensions & six new wins; new partner channels added for ChargedEV and fleet management
• Simplified customer engagement: Account management and sales channel simplification fully embedded in UK plus new Spanish CRM; reducing vehicle churn with existing customers and supporting over 250 new rentals from cross-sell referrals; ancillary income up 9% including fleet management
• Talent development: King’s Award for Enterprise 2025 recognising our work in social mobility; growth in apprenticeships and early careers; average age of technicians reduced from 54 years to 41 years sinc FY2023
• Customer service & digitalisation: ‘Customer First’ programme delivering record Trustpilot and NPS scores; scaling up of customer self-service capability across UK rental and claims processing productivity; upgraded Spanish e-auction platform; RTA vehicle recovery product growth
• Investment in facilities and new products: Six new facilities operational in the year (three in Spain) with more scheduled for H1 FY2026; workshop investment including ADAS and plastic welding; enhanced product offerings including corporate car rental, micro-mobility, upgraded telematics and asset tracking

Outlook

We see good opportunities in FY2026, with robust demand for our mobility solutions across our markets. Our differentiated position and clear strategic framework will enable the business to drive sustainable growth in underlying revenues, profitability and cashflow and deliver attractive shareholder returns. We would expect this to include achieving mid/upper single digit underlying EBIT growth for our operating divisions, before taking into account disposal profits.

Analyst Briefing and Investor Meet presentation

A hybrid presentation for sell-side analysts and institutional investors will be held at 9.30am today, 9 July 2025. If you are interested in attending, please email Burson Buchanan on [email protected] to request the joining details. This presentation will also be made available via a link on the Company’s website www.zigup.com.

The Company will also provide a roadshow presentation via the Investor Meet Company platform on Monday 14 July 2025 at 3.00pm for institutional and retail investors. Questions can be submitted pre-event up to 9.00am on 13 July

Investors can sign up to Investor Meet Company for free and add to meet ZIGUP plc via the following link: https://www.investormeetcompany.com/zigup plc/register-investor Investors who already follow ZIGUP plc on the Investor Meet Company platform will automatically be invited.

This announcement is made on behalf of ZIGUP plc by Matt Barton.

For further information contact:

Ross Hawley, Head of Investor Relations Burson Buchanan
+44 (0) 1325 528769

Chris Lane/Jamie Hooper/Verity Parker
+44 (0) 207 466 5000

Please view the full release here.