Mobico Group (LON: MCG) shares have gained on Tuesday, adding around 1.3% to trade near 23.7p, after the transport operator’s Q2 2026 trading update showed continued momentum in its core Alsa business and confirmed full-year guidance remains unchanged.
Group revenue grew 5.0% year-on-year in the quarter to 30 June, driven by strong performance at Spanish operator Alsa and a recovery in German Rail. Alsa revenue rose 8.0% (13.7% excluding UK Coach), with Long Haul up 7.0% on sustained demand and higher yields, Regional up 10.5% on a 14.3% jump in passenger volumes, and Urban revenue up 6.4%. International and diversified operations grew 21.3%, more than offsetting a reduced footprint in Morocco.
German Rail revenue jumped 19.3% as the division returned to full operations following revised rail contracts, while UK Coach fell 16.7% amid lower passenger numbers, weaker yields and the deliberate pruning of unprofitable routes.
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Elsewhere, WeDriveU revenue declined 11.8% following the exit of loss-making contracts, though management said corrective action had stabilised operations after execution challenges earlier in the quarter.
UK Bus revenue slipped 1.8% on softer commercial patronage, but investors welcomed further clarity on the previously announced sale of the division’s net assets to the West Midlands Combined Authority, agreed in principle on 18 August and expected to complete in November 2026.
Mobico said the disposal would monetise UK Bus assets and de-risk the group ahead of regional bus franchising changes.
Combined with the WeDriveU contract exits, management framed the update as evidence of a “simplified” group increasingly focused on margin expansion, cash generation and asset-light growth — messaging that appears to have reassured the market despite mixed divisional performance.
