Zigup (LON:ZIG) Issues Quarterly Earnings Results

Zigup (LON:ZIG) released its quarterly earnings results on Wednesday. The company reported GBX 53.10 EPS for the quarter, Digital Look Earnings reports. Zigup had a net margin of 4.68% and a return on equity of 8.01%.

Here are the key takeaways from Zigup’s conference call:

• ZIGUP reported a strong year of operational and financial progress, with revenue up to £1.86 billion, underlying revenue up 5.2%, and underlying EBIT rising 9.7% to £164 million.
• Steady-state cash improved sharply, increasing by £79 million to £96 million, and management said this marks an inflection point with cash now on an upward trajectory.
• Spain was a standout performer, with rental revenue growing more than 16% and margins remaining strong; management also raised its margin guidance for the market to 18.5%-20.5%.
• The company is pushing ahead with its UK and Ireland simplification program, targeting £20 million of run-rate savings by FY2028, with £10 million expected in the current year and benefits already starting to show.
• Statutory profit before tax was hit by £26 million of impairments tied to the exits from NewLaw and ChargedEV, though management said the exits should improve profit by about £7 million per year from FY2028.

Zigup Trading Up 0.0%

ZIG opened at GBX 464.55 on Wednesday. The stock has a market capitalization of £1.06 billion, a PE ratio of 12.49 and a beta of 1.04. The firm has a 50-day moving average price of GBX 443.77 and a two-hundred day moving average price of GBX 409.03. Zigup has a 1-year low of GBX 294.50 and a 1-year high of GBX 490.

Analyst Ratings Changes

Separately, Berenberg Bank reissued a “buy” rating and set a GBX 550 price objective on shares of Zigup in a research report on Friday, May 8th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Zigup has an average rating of “Buy” and a consensus price target of GBX 537.50.

About Zigup

ZIGUP (formerly Redde Northgate plc) 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 Company 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 Company’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.