2017 Full Year Results announced
28 FEB 2018
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.
2017 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 2017. 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 financial highlights:
Group revenue increased by £52 million (10%) to £558 million, reflecting growth in our Roadside, Insurance broking and Motoring services businesses.
EBITDA before exceptional items increased by £6 million to £190 million reflecting the strong performance in our Insurance broking and Motoring services businesses and a robust performance in Roadside in spite of strong competition and implementation costs for the substantial levels of new business won.
Strong operating cash flow generation, with a £12 million increase in net cash flow from operating activities to £174 million and improvement in EBITDA cash conversion to 92% (2016: 88%).
Rob Templeman, Chairman, commented:
“The Group delivered significant growth in revenue, EBITDA and operating cashflow in 2017, a strong performance that reflects the Group’s business model of delivering excellent customer service to our Members. We have carried this momentum into the new financial year and are confident in the Group’s prospects for further success in 2018 and beyond.”
28 February 2018
Investor Conference Call
An investor conference call will be held on 20 March 2018 at 10.00am (GMT), at which the Group will present its financial results. A summary presentation will be released along with the results and will be used as the basis of the Investor Conference Call. Investors wishing to participate in the Investor Conference Call need to pre-register at:
http://event.onlineseminarsolutions.com/wcc/r/1591711-1/AFC1056A54276A9CF7EBE232AB1DC87C
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:
David Whatley, Group Finance Director [email protected]
For Media enquiries, please contact:
Rod Dennis, Press Officer [email protected]
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.