Our strengths

Adopting a collaborative approach alongside governments, local communities and strategic partners is paramount to us

“The fundamental strengths of our business have supported us well throughout the COVID-19 crisis. As we move into the Group’s next phase, we are well positioned to further establish our role as a leading operator of vital public transportation services."

Clare Hollingsworth

Clear and important purpose

Delivering vital services essential to society and for economic growth

  • Bringing our communities together, providing vital links to friends and family
  • Vital importance of public transport reflected in ongoing government support during the pandemic
  • Essential to economic recovery, enabling access to work, education, leisure and retail

Part of the solution

Integral part of climate change and air quality agendas in our towns and cities

  • Recognition by policy makers that mass transport is key to achieving air quality and climate-related targets
  • Aside from walking and cycling, rail travel is the most carbon efficient mode of transport, followed by bus. An average journey by petrol car emits 120% more CO2 than the same journey by a diesel bus
  • Leading industry change in transition to cleaner transport, operating the UK’s only all electric bus depot and our own innovative air-filtering bus technology

Experts in our field

Extensive experience and expertise in bus and rail markets

  • Largest bus operator in London with strategically located depots providing competitive advantage
  • Well established regional bus operator with a focus on urban areas
  • Leading change and transformation as the operator of the UK’s busiest rail franchises
  • Successful operations in Singapore, Ireland and Norway

A proven approach

Devolved customer focused management, innovative approach and engaged colleagues

  • Agile and responsive local management teams embedded in their local communities optimising performance and awardwinning customer service
  • Continual improvement driven by an innovative approach in all areas of the business
  • Engaged colleagues promoting our inclusive culture which encourages diversity in all its forms, aiming to reflect the diverse communities which we serve

A reliable partner

Strong partnerships and collaborative working with transport authorities and policy makers

  • 90% of revenue generated through transport authorities and industry partners
  • A leading voice on the issues most critical to our business and industry
  • Integral to major infrastructure change projects in UK rail delivered collectively with industry partners
  • Working towards shared goals with local stakeholders, including local authorities, in our communities

Strong financial profile

Disciplined and sustainable decision making

  • Robust balance sheet; adjusted net debt to EBITDA within target range at 1.96 times on a pre-IFRS 16 basis
  • Positive cashflow and good liquidity; c£230m of cash and available facilities
  • Strong profile will support the resumption of dividend payments when appropriate to do so
  • Disciplined approach to capital allocation and risk management