At a glance
RAC’s business model is built around providing Complete Peace of Mind to our members and firmly establishing ourselves as the UK’s number one for driving services. With over 125 years of operating history, we are well established to achieve long-term, sustainable growth from our loyal and growing base of subscription members.
Our core breakdown service is provided direct to consumers and via our corporate partners. Our growth is underpinned by a quality member experience, enabled by our outstanding team of dedicated patrols and frontline colleagues and, increasingly, cohesively delivered 24/7 through our data and digital platforms, including the myRAC app.
We support our corporate partners, in particular manufacturers, with broader services, including connected car services, undertaking “recall” campaigns and providing award-winning customer contact centres.
We also act as an insurance broker, offering predominantly motor insurance policies, and work with a leading panel of underwriters and leverage our unique and differentiated data assets and data science capabilities to obtain the best possible rates for our members.
Our Service, Maintenance and Repair offering is for UK consumers, fleets and corporate partners. RAC Mobile Mechanics get the work done wherever the client is: at home, work or even on holiday. All backed up by a 1,100-strong garage network and products that help avoid large repair bills.
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% |
|
For full definitions of the terminology used please see our 2023 Annual Report
Who we are
For more than 120 years, the RAC has been at the forefront of developing motoring solutions. Today, you can trust the RAC for complete peace of mind, whatever your driving needs.
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.