Mobico hails Spanish subsidiary Alsa as revenue up in second quarter

Mobico Group PLC on Tuesday said it is moving forward with a simplified business focused on margin expansion as it emphasised that its Spanish subsidiary is performing well.

The Birmingham, England-based public transport operator said revenue grew 5.0% on-year in the second quarter of 2026, citing continued "strong" momentum in its Madrid-based bus and coach services subsidiary Alsa, amid an ongoing recovery in German rail.

The company said following the exit of loss-making contracts in WeDriveU and the proposed sale of UK bus, it is moving forward with a simplified business focused on margin expansion, cash generation and select asset-light growth opportunities.

Mobico said Alsa revenue rose 8.0% on-year in the second quarter, while long haul revenue was up 7.0% amid a 4.2% increase in yield.

Notably, German rail revenue surged 19% amid a return to full operations.

UK coach revenue declined 17% amid a fall in passenger numbers and a targeted reduction of unprofitable routes. National Express is a notable subsidiary of Mobico.

Back in August, Mobico announced that it expects to receive upfront proceeds of £24 million from the sale of its West Midlands bus business to the West Midlands Combined Authority.

Meanwhile, WeDriveU revenue was down 12% on-year in the second quarter, mainly reflecting the exit of loss-making contracts.

Mobico left its guidance for 2026 unchanged.

Mobico shares were marginally higher at 23.39 pence each on Tuesday afternoon in London.

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