ZIGUP (ZIG) Trading Update summary

Financial performance and trading update

• FY2025 performance expected to finish modestly ahead of market expectations, driven by strong rental demand, especially in Spain.

• Vehicles on Hire increased by 6% year-on-year, reflecting ongoing investment in fleet renewal and growth.

• Vehicle supply normalization led to stabilized disposal profits, a trend expected to continue into FY2026.

• Claims & Services businesses improved in H2, with hire lengths moderating and new contract wins, including DLG.

• Leverage remains prudent, expected just below 1.8x, in line with guidance.

Strategic and operational highlights

• Successfully refinanced debt with maturities extended beyond 2030 on improved terms, supported by strong lender demand.

• High customer engagement scores and recent King's Award for Enterprise highlight focus on service and talent development.

• Continued emphasis on technology-enabled services and structural growth drivers like outsourcing.

• Strategic framework of Enable, Deliver, and Grow underpins sustainable compounding growth.

• Over 130,000 vehicles in fleet, supporting more than 1 million managed vehicles across 180+ branches.

Market positioning and outlook

• Leading integrated mobility solutions provider, serving businesses, insurers, OEMs, and fleet operators.

• Positioned to benefit from trends in digital connectivity and transition to lower carbon mobility, including EVs.

• Entering the new financial year with confidence in underlying growth opportunities.

• Trusted partner to major insurance, leasing, and corporate clients across diverse sectors.

• Focused on delivering exceptional customer experience and sustainable value for stakeholders.