Corporate Profile
Founded in 1897, with over125 years of history, RAC is a recognised and trusted brand with more than 14m members. Our vision is to become the UK’s number one for driving services, providing complete peace of mind for our members’ driving needs.
Our strategy is to continue to differentiate and innovate. Providing more driving products and services to more members throughout their driving lifecycle across our three complementary offerings (Breakdown, Insurance and Service, Maintenance and Repair), delivering operational efficiencies and high-quality member experiences.
We use our motoring expertise to campaign for positive change for our members. As the voice of drivers, we analyse, lobby and comment on important issues, from fuel prices to road safety and are regularly invited to consult with government on motoring legislation.
Our recurring subscription-based model provides high visibility of financial performance while delivering a proven essential service to loyal members. RAC has delivered more than a decade of uninterrupted growth since we became a standalone business.
All financial information shown below relates to the RAC Bidco Limited group of companies, of which RAC Bidco Limited is the parent.
RAC Members
| Total Members | Membership Services Members | Insurance Segment Members |
2023 | 13.6 | 12.9 | 0.7 |
2022 | 13.0 | 12.4 | 0.6 |
% | +5% | +4% | +13% |
Profitability
| Revenue | EBITDA | Operating profit (before exceptional items) |
2023 | £720m | £272m | £204m |
2022 | £664m | £260m | £143m |
% | +8% | +5% | +43% |
Debt and Associated Ratios
| 3rd Party Net Debt | Class A FCF DSCR | 3rd Party Leverage Ratio |
2023 | £1,562m | 3.65 | 5.7x |
2022 | £1,601m | 3.00 | 6.2x |
Cash and Capex
| Capex | Operating Cash Flow | Operating Cash Conversion |
2023 | £82m | £249m | 92% |
2022 | £54m | £223m | 86% |
% | +52% | +12% |
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For full definitions of the terminology used please see our 2023 Annual Report
Our directors
Details of the Group's executive and non-executive directors.
Discover our history
The RAC has been consistently at the forefront in assisting UK drivers. Take a look at a snapshot of our history so far, beginning in 1897.
Corporate responsibility
The RAC has embedded Corporate Social Responsibility (CSR) throughout the business, with a continued focus on enhancing road safety, improving fuel efficiencies and in developing innovative new products and services for members.