2021 Full Year Results announced
02 MAR 2022
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
£345,000,000 Fixed Rate Class B2 Senior Secured Notes due 2046
(ISIN XS1645523579)
(together, the "Notes")
This Notice is issued by the Issuer to the holders of the Notes.
2021 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 2021. 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:
Strong growth in EBITDA and operating cashflow, with overall revenue returning to growth post the Covid challenges of 2020:
Revenue growth of 5% to £653 million (2020: £624 million)
EBITDA up 5% to £254 million (2020: £241 million)
Operating profit up 7% to £135 million (2020: £126 million)
Operating Cashflow up 2% to £226 million (2020: £222 million)
Operating Cash conversion of 89% (2020: 92%)
Ended 2021 with 12.9 million members, an increase of 130,000 during the year
Dave Hobday, Chief Executive Officer, commented:
“In a second year challenged by Covid-19 I am proud that we have delivered another strong performance in 2021 completing a decade of uninterrupted growth.
This performance again demonstrates the strength of our proposition and subscription model, with more members joining RAC, staying longer and spending more. The power of this is exemplified by another record year of low churn in our Consumer division and all roadside Corporate partner tenders renewing.
As we celebrate our 125th birthday in 2022, I am thrilled to welcome Silver Lake to RAC sitting alongside CVC and GIC. Their skills and expertise across technology, digital and data are unparalleled. These give us the opportunity to further accelerate growth in our core markets, and to expand our reach to provide more products and services for our members and partners.”
2 March 2022
Investor Conference Call
An investor conference call will be held on 15th March 2022 at 11.30am (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:
Jo Baker, CFO [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
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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.