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News Category: Corporate

Go-Ahead appoints Chief Financial Officer

09 March 2022

Go-Ahead appoints Chief Financial Officer

Following a thorough selection process, the Board of The Go-Ahead Group plc (“Go-Ahead”) is pleased to announce the appointment of Sarah Mussenden as Group Chief Financial Officer with effect from 9 May 2022.

Gordon Boyd, Interim Group Chief Financial Officer, will remain in the role until the end of March 2022, as previously announced. Mark Ferriday, Group Financial Controller, will report to Christian Schreyer, Group CEO, between Gordon stepping down and Sarah starting her new role.

Sarah, a qualified Chartered Accountant, has extensive experience across multiple sectors, including her present role as Interim Chief Financial Officer at Royal Mail UK.  Previous roles include Chief Financial Officer at Centrica Consumer Services (British Gas), Barts and The London NHS Trust and Financial Director at British Airways. Sarah is a Non-Executive Director and member of the Audit and Risk Committee at The Premier Miton Group plc.

“”
I am delighted to welcome Sarah to Go-Ahead. Her senior commercial business leadership experience, together with her strong financial accounting and audit background, will be particularly valuable as the Group will have completed its business review, led by Christian Schreyer, and moved to the next phase of the Group’s development. She also has worked extensively in transport and regulated businesses, where the customer proposition and the environmental agenda are central to long term sustainable growth.

Clare Hollingsworth, The Go-Ahead Group plc Chair

“”
I am so pleased to be joining the Board of Go-Ahead. Throughout my career I have worked for businesses that have important purposes and add real value to society. Go-Ahead very much fits this description. It’s been a challenging couple of years for the Group but the underlying business is robust and has strong long term prospects. I look forward to working with Christian and the Board to enhance governance and financial control across the Group, whilst also driving to maximise its inherent value.

Sarah Mussenden

Go-Ahead marks International Womens Day by showcasing inspirational women in transport

08 March 2022

Go-Ahead marks International Womens Day by showcasing inspirational women in transport

  • New video spotlights women working across Go-Ahead’s bus and rail operations
  • Hundreds of female apprentices recruited during 2021
  • 40% of train drivers recruited at GTR in 2021 were female

In a video released today, a cross-section of women from across Go-Ahead’s companies business discuss why they love working in transport, and the exciting opportunities they have to progress their own careers in bus and rail.  The video features women from different countries in a variety of roles – with a range from newcomers to the highly experienced.

Cathrine Elgin, managing director of Go-Ahead Norway, said “I was the first female managing director in the Go-Ahead Group.  So there are no barriers.  Just do what you want and if you’re good at it, there’s nothing holding you back”.

Chermaine Russell, a driver with Go-Ahead London, said: “I have recently passed my passenger transport qualification.  I know that whatever I do want to become, I can be it in Go-Ahead”.

Among apprentices at Go-Ahead’s rail division, 37% are women, along with 17% of apprentices at Go-Ahead bus companies – a rate considerably higher than average diversity in an industry which has traditionally been male dominated.  30% of this year’s group graduate intake are female.

Govia Thameslink Railway (GTR) successfully doubled the number of female train driver applications from 413 in 2019 to 825 in 2020. 40% of train drivers they recruited in 2021 were females.

Go-Ahead’s initiatives to attract more women to work across the group include creation of an industry leading “Women in Bus” network offering mentoring and support for female bus workers across the country. Go-Ahead has a target of increasing the overall proportion of women in bus from 11% to 20% by 2025.

The company has sought to increase awareness of issues affecting women in the workplace with initiatives including webinars on inclusion, publication of a “little guide to the menopause” and lunch and learn sessions.

Scott Maynard, Group HR Director, said: “For too long, women have been under-represented in the transport industry.  At Go-Ahead, we’re working hard to recruit more women but we know that we need to do more, and to go further. This International Women’s Day, we’re proud to celebrate some of the outstanding women who work for our business.”

Go-Ahead’s International Womens Day video can be viewed here.

Go-Ahead welcomes government funding to build back passengers on local bus services

01 March 2022

Go-Ahead welcomes government funding to build back passengers on local bus services

In response to the Department for Transport’s announcement of a £150 million funding package for local bus and light rail services, The Go-Ahead Group’s Chief Executive, Christian Schreyer, said:

“”
We welcome this funding for local buses, which will allow the industry time to build back passenger numbers. We’ve bounced back well from the Omicron variant, and our buses are carrying about 80% of the number of passengers they had before the pandemic. But working habits have changed, and it will take a little longer for a ‘new normal’ to settle in.

“In time, there are excellent prospects for bus usage to grow across Britain. Funding under the National Bus Strategy for bus lanes and priority schemes will speed up services in towns and cities, making them more attractive to passengers and allowing us to increase frequencies. If Britain is to move towards a net zero future, it is vital that people leave their cars at home and switch to public transport. This short-term finance will go some way towards bridging the gap and will help us build a broader network of successful bus services

Media availability

For an ‘on the ground’ perspective on the Government’s decision today to extend COVID recovery funding to bus operators for a further six months, Ed Wills, Managing Director of Brighton & Hove Buses and Metrobus, is available for interview.

Filming and broadcast opportunities on request.

Please contact Andrew Clark – 07977 343846 / communications@go-ahead.com.

Full year results for the year ended 3 July 2021

24 February 2022

Full year results for the year ended 3 July 2021

Business and finance overview

  • Strong financial performance in Bus and GTR overshadowed by matters relating to London & South Eastern Railway (LSER) and challenges in International Rail
  • Adjusted operating profit of £115.5m (2020: £76.4m restated); statutory loss before tax of £6.9m (2020: £39.5m loss, restated)
  • Maintained strong balance sheet reflecting prudent financial management throughout the COVID-19 pandemic, with adjusted net debt/EBITDA of 1.56x as at 3 July 2021
  • International rail exceptional items: onerous contract and asset impairment provisions of £76.9m recognised in Norway; previous provision in Germany increased to £36.6m and restated in the prior year
  • New Group Chief Executive, Christian Schreyer, joined in November 2021 and additional senior management appointments made

Christian Schreyer, Group Chief Executive, commented:

“”
It’s been a very challenging year for Go-Ahead and our shareholders, for which I apologise on behalf of the Board. I’m pleased to be publishing these results today and I am looking firmly to the future with optimism.

The Group’s operating performance is strong and we are seeing a reassuring recovery in passenger volumes across bus and rail following the impacts of COVID-19 with our trading expectations for 2022 unchanged.

In relation to London & South Eastern Railway, we are optimistic that the outstanding matters will soon be settled with the DfT.

In International Rail, I am confident that we have the right team in place to address the challenging contractual situations we face in those markets.

In my 25 year career in public transport and mobility services, I have never been so proud to be part of the industry as throughout the pandemic. Transport workers all over the world stepped up and kept vital services moving at a time when much of the world appeared to stop.

Go-Ahead’s 27,000 people have demonstrated incredible resilience and commitment through this period, and I have great confidence in my teams around the world to support the next exciting phase for the Group. We see significant opportunities ahead as public transport benefits from trends towards lower carbon travel, urbanisation, digitalisation and demographic change.

I look forward to announcing the conclusions of my business review in the coming weeks.

London & South Eastern Railway

  • The Group ceased operating the Southeastern franchise on 17 October 2021
  • The Department for Transport (DfT)’s decision not to award a National Rail Contract (NRC) to LSER was as a consequence of matters regarding the calculation of profit share payments and treatment of certain overpayments made by the DfT to LSER
  • Notwithstanding the complexity of LSER’s franchise agreements, Go-Ahead accepts that serious errors were made in relation to the LSER franchise with respect to engagement with the DfT over several years and has apologised to the DfT
  • The Board is implementing enhanced corporate governance arrangements, particularly relating to the way in which complex rail operations are overseen

Financial implications relating to LSER

  • Amounts totalling £51.3m (including the previously disclosed £25.0m) have been identified by the Independent Review as being due to the DfT; £49.2m of which has been paid by LSER to the DfT
  • Other commercial negotiations with the DfT are ongoing, with an estimated additional liability of £21.3m
  • The Group is recognising a provision of £30.0m for a potential financial penalty from the DfT

Current trading and outlook

  • Reassuring recovery in passenger numbers; temporary decline following emergence of the COVID-19 Omicron variant reversed; Regional Bus volumes currently around 80 per cent of pre-pandemic levels
  • Discussions ongoing with the DfT regarding a potential NRC for GTR from April 2022
  • Trading across each of the Group’s divisions is in line with previous guidance and the Board’s expectations for the 2022 full year remain unchanged
  • Business review is being undertaken by the new management team, the conclusions of which will be announced in the coming weeks
  • The Board understands the importance of dividends to shareholders and is committed to resuming payments at the
    appropriate time
  • The Group remains in a strong position, underpinned by its well-established market positions, continuing sector-leading operational performance and robust balance sheet. Public transport remains critical to environmental sustainability, economic recovery, the delivery of health and wellbeing outcomes, and keeping communities connected

Go-Ahead coach completes mammoth journey from the Isle of Wight to Zambia

15 February 2022

Go-Ahead coach completes mammoth journey from the Isle of Wight to Zambia

A Go-Ahead vehicle has completed its journey from the Isle of Wight in the UK to Lusaka in Zambia for use in training drivers to ensure public transport journeys are safe across Sub-Saharan Africa.

The Southern Vectis coach – part of Go-Ahead subsidiary Go South Coast – was donated to transport charity Transaid, who provides driving and maintenance training across Africa.

The coach travelled for over a month for 4,900 miles via road and sea. It reached the Lusaka Industrial Training Centre (ITC) in Zambia in December and was officially unveiled at a launch event in February.

The government-backed training centre trains thousands of drivers a year. Transaid trained 1,435 drivers at the ITC between April 2020 and March 2021.

“”
We’re delighted to donate our second vehicle to the Lusaka Training Centre. Our work with Transaid is so important for us to help the wider transport community. Road traffic accidents are the third highest cause of death in Zambia and driver training is vitally important.

Martin Dean,Go-Ahead’s Managing Director for Business Development

This is the second vehicle Go-Ahead has donated to the ITC. The company also donated a Go-Ahead London red single-decker bus in 2019.

Transaid campaigns to transform lives through safe, available and sustainable transport. Part of the charity’s mission is to ensure that every driver should be able to leave for a day’s work without the fear they may not come home because of a lack of training, or dangerous vehicles and roads.

“”
We are incredibly grateful to the Go-Ahead Group for its generous donation to our partner organisation in Zambia. The vehicle will even further enhance standards of training at the ITC, and make a significant impact on the ground.

Caroline Barber, Chief Executive of Transaid

“”
We are delighted to have received the vehicle. The coach is in excellent condition and a delight to see. Our driving instructors, the rest of the ITC staff and students look forward to achieving the very best with it. Thank you all for your effort and contributions towards this achievement.

Lloyd Mbasela, ITC Director

Go-Ahead response to Transport Select Committee report on road pricing

04 February 2022

Go-Ahead response to Transport Select Committee report on road pricing

Mark Anderson, Go-Ahead Customer and Commercial Director said:

“We welcome this report and support its conclusion that road pricing will be needed as fuel duty reduces.  For an effective transition, we want local authorities to bring forward schemes for urban charging based on both congestion and emission.   As the benefits of cleaner air, reduced emissions, less congestion and more attractive places emerge, we can build more support for changing the way we allocate costs to road users”.

The Go-Ahead Group expands in Ireland

03 February 2022

The Go-Ahead Group expands in Ireland

  • Recruitment campaign launched to hire 180 people, bringing total workforce close to 800
  • Roles to support ongoing expansion of bus operations in and around Dublin
  • Ireland is one of Go-Ahead’s four public transport markets outside the UK

The Go-Ahead Group is seeking to recruit 180 staff at its Go-Ahead Ireland bus business, bringing its total workforce in Ireland to close to 800 people across all functions.

The company is looking to recruit bus drivers, engineers, administration, supervisory and business support functions.

Go-Ahead Ireland was appointed by the National Transport Authority in 2018, and currently operates 25 Outer Dublin Metropolitan Area (ODMA) routes, and 5 Dublin Commuter routes, with a fleet of over 200 buses. The company also operates two services on the recently launched ‘C-Spine’ BusConnects network.

The new roles are being created due to the ongoing expansion of the business, and to meet the requirements of the implementation of the new BusConnects network redesign in Dublin. The company will provide fully paid training to new drivers who do not currently have a license to drive a bus.

Over the last decade, Go-Ahead has expanded from its base in Britain to operate public transport services in four additional countries – rail in Norway and Germany, and buses in Singapore and Ireland.

Go-Ahead Ireland has achieved industry-leading punctuality and reliability. The company is also a key supporter of Gaelic sports, as title sponsor of the Dublin GAA’s football, hurling and camogie championships.

Christian Schreyer, Group Chief Executive, Go-Ahead Group, said: “Go-Ahead is committed to international expansion and Ireland is a key market. We are pleased with the way our bus operations in Dublin have performed since 2018 and we’re delighted to be creating new jobs for the local community.”

Andrew Edwards, Managing Director, Go-Ahead Ireland, said: “This is an important milestone for Go-Ahead Ireland, and we are delighted to announce this growth. Since entering the market, we have steadily increased our presence, focusing on providing service excellence to the communities that we serve.”

Top marks for Go-Ahead’s carbon cutting initiatives

20 January 2022

Top marks for Go-Ahead’s carbon cutting initiatives

The Go-Ahead Group has received an ‘A minus’ rating from CDP (formerly the Carbon Disclosure Project) for the second year in a row – the highest score of any UK public transport company.

CDP is an international, expert group that reviewed more than 13,000 companies worldwide for its 2021 rankings.

Go-Ahead has reduced CO2 emissions per vehicle mile by 25% in just under five years (2016/2017 baseline) across its UK, Ireland and Singapore bus operations. The Group is the largest electric bus operator in the UK, and it owns one of the largest electric bus garages in Europe – Northumberland Park, in London – which is set to be the site of innovative ‘Bus2Grid’ technology.

Go-Ahead was the pioneer of ‘geo-fenced’ technology in Brighton with buses that operate in zero emission mode in the city’s clean air zone, and ‘air filtering’ buses in Southampton.  It has also ordered 20 hydrogen-fuelled buses that will come into service in Summer 2022.

The company saw a 5% improvement in Govia Thameslink Railway’s (GTR’s) electric fleet efficiency in 2019/2020 and is committed to improving carbon efficiencies in its rail fleets in the UK, Germany and Norway.

“”
Go-Ahead’s Commercial and Customer Director Mark Anderson said: “Public transport is part of the solution for fighting climate change and poor air quality. We therefore need to ensure we’re doing everything we can to provide green, clean services for our passengers. Our A minus rating shows there’s still more we can, and plan to do, to fighting climate change, but we’re well on our way.”

Go-Ahead’s 2021 climate change initiatives included:

  • The launch of the group’s Climate Change Strategy, where it outlined its goal to be a net zero company by 2045. Its target to reduce emissions by 75% by 2035 was validated by the Science Based Targets Initiative in Summer 2021.
  • Solar panel trials on buses in Southampton and Singapore
  • ‘Rent a roof’ solar panel trials at Denmark Hill railway station and Oxford Bus Company’s Didcot depot
  • Creation of a climate change taskforce involving senior managers from across our companies,
  • A ‘Best Driver’ colleague competition at Go-Ahead London, where colleagues compete on a racetrack to see who can drive a bus the most efficiently
  • Local energy saving initiatives – Manchester’s Go North West depot cut its energy use by 76% by installing LED lighting.
  • Trial of recycling initiative at Brighton station with sustainability start up Green Block – aiming to increase recycling rates from 30% to 95%

Go-Ahead welcomes end of Plan B restrictions

19 January 2022

Go-Ahead welcomes end of Plan B restrictions

Responding to today’s announcement about the ending of Plan B Covid restrictions in England, Go-Ahead Customer and Commercial Director Mark Anderson said,

“We welcome today’s announcement from the PM which will help bring bustle and vitality back to our towns and cities. Whilst work and life patterns have changed for many, in person interaction helps businesses thrive, and commuting can provide valued space between home and the office.

“Service levels on our buses and trains are increasing as colleague absence reduces, and we look forward to welcoming more customers back. Our apps and websites provide information on which services are busier, helping customers who would prefer to travel at quieter times”.