2019 Full Year Results announced
26 FEB 2020
RAC BOND CO PLC
(a public limited company incorporated in England and Wales with registered no. 10084638)
(the "Issuer")
NOTE: THIS NOTICE CONTAINS IMPORTANT INFORMATION THAT IS OF INTEREST TO THE LEGAL AND BENEFICIAL OWNERS OF THE SUBJECT NOTES. IF APPLICABLE, ALL DEPOSITORIES, CUSTODIANS, AND OTHER INTERMEDIARIES RECEIVING THIS NOTICE ARE REQUESTED TO EXPEDITE RE-TRANSMITTAL TO BENEFICIAL OWNERS OF THE NOTES IN A TIMELY MANNER.
NOTICE
to the holders of
£300,000,000 Fixed Rate Class A Senior Secured Notes due 2046
(ISIN XS1404980846)
and
£600,000,000 Fixed Rate Class A Senior Secured Notes due 2046
(ISIN XS1404981141)
and
£275,000,000 Fixed Rate Class B Senior Secured Notes due 2046
(ISIN XS1645523579)
(together, the "Notes")
This Notice is issued by the Issuer to the holders of the Notes.
2019 Full Year Results Announcement
RAC Bond Co PLC has today reported the consolidated results of RAC Bidco Limited (“Group”) for the year ended 31 December 2019. The results can be found on the ISE website or via http://www.raccorporate.co.uk/for-investors/results-reports-and-presentations.
RAC Bidco Limited consolidated highlights:
Revenue up 7% to £631 million (2018: £592 million)
EBITDA up 9% to £226 million (2018: £207 million)
Net cash flow from operating activities up 13% to £205 million (2018: £181 million) and 91% cash conversion (2018: 89%)
£47 million of capital invested to underpin long term growth
Ended 2019 with 12.1 million members, up 1.5 million during the year
Rob Templeman, Chairman, commented:
“RAC has had one of its best years ever. This is our eighth successive year on year increase since our separation from Aviva in 2011.
More customers than ever are choosing RAC, giving us a record total membership base of over 12 million.
Our strong 2019 performance and momentum has carried through into 2020. We are delighted with the progress we continue to make, giving confidence for this year’s results, and for our long-term sustainable growth”
26 February 2020
Investor Conference Call
An investor conference call will be held on 11th March 2020 at 10.00am (GMT), at which the Group will present its financial results. A summary presentation will be released and will be used as the basis of the Investor Conference Call. More details on the investor conference call and pre-registration information will be available on the investor website shortly. Full participant information (including dial-in number) will be provided upon registration.
This Notice is given by:
RAC BOND CO PLC
This announcement has been issued through the Companies Announcement Service of the Irish Stock Exchange
For Investor enquiries, please contact:
Bruce Claassen, Group Finance Director [email protected]
For Media enquiries, please contact:
Rod Dennis, Press Officer [email protected]
Who we are
For over 125 years, the RAC has been at the forefront of developing motoring solutions. Today, you can trust the RAC for complete peace of mind, for all 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.