ZIGUP plc
("ZIGUP"
or the "Group" or the "Company")
24
September 2024
AGM
Statement
New vehicle supply greatly
improved, outlook unchanged
ZIGUP plc (LSE:ZIG), the leading
integrated mobility solutions platform providing services across
the vehicle lifecycle, will hold its Annual General Meeting
at 10.30 a.m. today at the offices
of Bryan Cave Leighton Paisner LLP, Governor's House, 5 Laurence
Pountney Hill, London, EC4R
0BR.
At the meeting the following
statement will be made:
With new vehicle supply greatly improved in
recent months we are progressing well with our plans for both fleet
replacement and satisfying healthy demand for LCVs, resulting in
continued de-ageing of our fleets across our geographies. As
expected, used markets are seeing normalising LCV residual values
as older vehicles are replaced.
Greater opportunities in supply will result in
higher fleet capex this year which, as highlighted in July, is
aligned with our plans and business model of delivering profitable
growth, attractive cash generation and strong returns on investment
well above the Group's cost of capital. Leverage remains in line
with our target range of 1-2x, and our balance sheet is further
supported by £1.4bn of fleet assets.
Our broader macro environments remain
supportive, with supply chains normalising and inflation starting
to ease, which is reducing both customer vehicle repair and
replacement hire timeframes.
We are focused on progressing with our
strategic pillars of Enable, Deliver, Grow, investing in
infrastructure capacity including opening two new locations in
Spain and the UK&I alongside technology infrastructure as part
of our continuous programme to deliver an excellent customer
experience.
The Board remains confident of the Group's long
term growth strategy and prospects and our outlook for the year
remains unchanged.
Spanish
CME
Our Spanish rental business is being showcased
at a Capital Markets Event taking place in Madrid on Thursday 26
September, where the market outlook remains very
attractive.
Shareholder
returns
Shareholders are being asked today to approve a final dividend
of 17.5 pence per share, which
will be paid on 27 September 2024, to
those shareholders who were on the register at close of business
on 30 August 2024.
This dividend, if approved, will result in a total ordinary
dividend payable in respect of the year ended 30 April 2024 of 25.8
pence per share.
Interim results and Sustainability
Report
The Group's next scheduled trading update will be its interim
results for the six months ended 31 October
2024 expected on 4 December
2024. The Group has also recently
published its Sustainability Progress Report, which sets out our
progress over the past year, our reporting framework and
commitments, together with progress made in the year and plans for
FY 2025.
-Ends-
For further
information contact:
Ross Hawley, Head of Investor
Relations
+44 (0) 204 566 7090
Buchanan
Chris Lane/Jamie Hooper/ Verity Parker
+44 (0) 207 466
5000
Notes to
Editors:
Notes to Editors:
ZIGUP is the leading integrated
mobility solutions provider, with a platform providing services
across the vehicle lifecycle to help people keep on the move,
smarter. The Group offers mobility solutions to businesses, fleet
operators, insurers, OEMs and other customers across a broad range
of areas from vehicle rental and fleet management to accident
management, vehicle repairs, service and
maintenance.
The mobility landscape is changing,
becoming ever more connected and ZIGUP uses its knowledge and
expertise to guide customers through the transformation, whether
that is more digitally connected solutions or supporting the
transition to lower carbon mobility through providing EVs, charging
solutions and consultancy.
The Group's core purpose is to keep
its customers mobile, smarter - through meeting their regular
mobility needs or by servicing and supporting them when unforeseen
events occur. With our considerable scale and reach, ZIGUP's
mission is to offer an imaginative, market-leading customer
proposition and drive enhanced returns for shareholders by creating
value through sustainable compounding growth. The Group seeks to
achieve this through the delivery of its new strategic framework of
Enable, Deliver and Grow.
ZIGUP supports its customers through
a network and diversified fleet of approximately 130,000 owned and
leased vehicles, supporting over 900,000 managed vehicles, with
over 180 branches across the UK, Ireland and Spain and a specialist
team of over 7,500 employees. We are a trusted partner to many of
the leading insurance and leasing companies, blue chip corporates
and a broad range of businesses across a diverse range of sectors.
Our strength comes not only from our breadth of our award-winning
solutions, but from our extensive network reach, our wealth of
experience and continual focus on delivering an exceptional
customer experience. Further information
regarding ZIGUP plc can be found on the Company's website:
www.zigup.com.
