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Prices & Quotes - UK Markets - National Express Group (NEX)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Down 289.20p
Change Today:
-4.40p
Market Cap:
1,775.94m
Sector:
Travel & Leisure

National Express swings to loss in 2020 due to pandemic

By Michele Maatouk

Date: Thursday 18 Mar 2021

LONDON (ShareCast) - (Sharecast News) - National Express said on Thursday that it swung to a loss in 2020 as it took a hit from the Covid-19 pandemic.




In the year to 31 December 2020, the bus and coach operator swung to a statutory operating loss of 381.4m from a profit of 242.3m a year earlier, with group revenue down 28.7% to 1.96bn. The group posted a statutory pre-tax loss of 444.7m versus a profit of 187m in 2019.

National Express said that as the first lockdown hit in March, there was an immediate impact in both bus and coach, with passenger numbers dropping dramatically. At the peak of the lockdown, its bus operations saw passenger numbers fall by more than 80%, with 47% of service operating, while in coach, the nationwide travel ban effectively cut demand to zero,.

Although demand came back quickly when restrictions were lifted, it fell just as quickly when they were re-imposed.

For the year as a whole, passenger numbers were down 47% in the bus division and 71% in the core coach operations.

The company said that given the "unprecedented financial implications" of the pandemic, it has decided not to recommend a dividend for the year.

Still, the group said momentum built throughout the second half of the year and it has seen an improving trajectory, with revenue, EBITDA and cash generation at their strongest levels in the fourth quarter of the year.

"With lockdowns and restrictions still in place in many territories, the outlook for the current year and the timing of the recovery remain difficult to predict, but it is encouraging that we continue to win new and retain existing contracts," it said. "Furthermore, when travel restrictions have been lifted, we have seen a rapid recovery in demand."

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NEX Market Data

Currency UK Pounds
Price 289.20p
Change Today -4.40p
52 Week High 328.20p
52 Week Low 114.10p
Volume 2,312,300
Shares Issued 614.09m
Market Cap 1,775.94m
Beta 0.05

Performance Indicators

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What The Brokers Say

Strong Buy 9
Buy 0
Neutral 1
Sell 0
Strong Sell 0
Total 10
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

NEX Dividends

  Latest Previous
  Interim Final
Ex-Div 29-Aug-19 18-Apr-19
Paid 20-Sep-19 14-May-19
Amount 5.16p 10.17p

Trades for 13-May-2021

Time Volume / Share Price
16:37 49,067 @ 289.30p
16:37 49,067 @ 289.30p
16:35 352,735 @ 289.20p
16:29 13 @ 289.26p
16:29 82 @ 288.80p

NEX Key Personnel

Chair John Armitt