Stagecoach Group (Group-wide matters)

[overthewater]

Ive seen 45min breaks on the dups. While at wooly edge you can get 20mins however its very strict.

 

[LancasterRed]

Stagecoach MCSL have just played a business blinder. As of the 20th April they will extend the 125 to Royal Preston Hospital with some extensions to the nearby college. A route has not been confirmed yet but if this is a direct route up the A6 straight to the hospital then Preston Bus cutting back the 19 or 23 seems inevitable. It will become the new express service and can only grow from here on in. It will replace the 4C which serves the grounds only helping it compete with Preston Bus, who have been struggling for performance with the 19 lately, having to turn it at the turning circle in recent days.

 

[overthewater]

Looks like spending plans are on hold, It looks like we might not get bus order this year? Had last years order been completed?


http://www.passengertransport.co.uk/2020/04/stagecoach-too-early-to-estimate-impact/

Stagecoach today offered an update on the impact that the Covid-19 outbreak is having on its business. But the Perth-based group said it was too early estimate the impact on the group’s financial position.

Stagecoach said it was helping with the national effort to deal with the COVID-19 crisis where it can, in addition to following government and public health advice across its operations.

Examples include providing an evening demand responsive transport service for NHS staff between their homes and NHS Raigmore hospital in Inverness; providing depot space to the London Ambulance service for commissioning new and recommissioning restored ambulances; operating NHS shuttle services in Mansfield, Hull and Grimsby; and providing additional bus services to key distribution and food manufacturing sites.

Since the group’s last statement on March 23:

Commercial sales at Stagecoach’s local regional bus operating companies are now at around 15% of “normal” levels. Vehicle mileage at those companies is now at around 50% of “normal” levels with plans to reduce that closer to 40% over the next week.
The group’s regional bus business has already furloughed a significant proportion of its staff as part of plans to furlough around 55% of its bus drivers and engineering staff. Other employees have also been furloughed.
Stagecoach is temporarily winding down its megabus.com inter-city coach services in England and Wales, and will suspend all such services by April 5.
The group has reduced its previously planned 2020/21 capital expenditure (£105m of cash capital expenditure and £38m of new leases). For the time being, its planned 2020/21 capital expenditure is limited to £40m of cash capital expenditure and £20m of new leases.
The respective governments have confirmed measures in each of England, Scotland and Wales to support the continuity of bus services. Stagecoach said that there measures would “reduce the risk of substantial ongoing operating losses”. The group has around £506m of available cash and undrawn, committed bank facilities.

Given the fast moving and extreme situation, it remains difficult to reliably estimate and forecast the effects of the COVID-19 situation on our regional bus income statement

Today’s Stagecoach Group statement said: “Given the fast moving and extreme situation, it remains difficult to reliably estimate and forecast the effects of the COVID-19 situation on our regional bus income statement. Forecasting is affected by the need for further information on the detail of the various arrangements with government, the challenges of forecasting passenger demand and staff sickness levels over the coming weeks, and the difficulty of definitively determining our ongoing cost base in such an extreme situation.”

Stagecoach is compiling its regional bus financial results for the four weeks ended March 28, 2020. During that four-week period, there were extreme and continual changes in passenger demand and significant cuts in mileage across our UK operations. The now announced support for English bus operators also has a bearing at this stage on the results for that period. In light of these factors, the group does not yet have a reliable estimate of the result for the period.

“Taking account of the government support confirmed, we do not expect the regional bus business to earn a profit for the time being and for the weeks ahead,” the statement said. “Subject to our comments on the challenges of forecasting at this time, we currently expect regional bus to operate at break-even or at a modest operating loss for the time being.”

No further dividends will be proposed in respect of the year ending May 2, 2020.

The sharp reduction in capital investment (down £65m cash capital expenditure and £18m of new leases) is bad news of Britain’s beleaguered bus builders. The remaining investment of £40m of cash capital expenditure and £20m of new leases reflects vehicles ordered which are either already built or largely built, vehicles required for new London bus contracts secured, electrical infrastructure work required for new London bus contracts secured, completion of some ongoing land and buildings work, and a reduced spend on technology and change projects.

We are continuing to work hard to ensure Stagecoach comes through this difficult period well placed for the significant long-term opportunities that we still see for public transport

Stagecoach chief executive Martin Griffiths said: “I am proud of the tremendous efforts and sacrifices of our people and the country’s healthcare workers during such a challenging and uncertain time. We are continuing to work hard to ensure Stagecoach comes through this difficult period well placed for the significant long-term opportunities that we still see for public transport.

“We would like to thank the respective governments and our local authority partners for their support through this very challenging period. It is welcome recognition of the importance of maintaining bus services at this time, and it will enable key workers to continue to travel to and from work, as well as ensuring communities can still access food, medical care and other essential services.”

 

[Volvodart]

Looks like spending plans are on hold, It looks like we might not get bus order this year? Had last years order been completed?

It says above the order will be the ones already built, or largely built (presumably Manchesters), plus their London commitments.

 

[overthewater]

It says above the order will be the ones already built, or largely built (presumably Manchesters), plus their London commitments.

Is manchester this year's or last years?

 

[NewcastleOne]

Is manchester this year's or last years?

An extension to last years order but for PR will probably be included in this years.

 

[mbonwick]

Manchester's are this years. Newcastle's 69 plates were the extension to last year.

 

[CharlesR]

Gloucester has confirmed 21 (or 25 - can’t find a definitive number) Scania Enviro 400 MMCs to replace vehicles on routes 10, 97/98 displacing some older scanias to North Bristol.

 

[carlberry]

Gloucester has confirmed 21 (or 25 - can’t find a definitive number) Scania Enviro 400 MMCs to replace vehicles on routes 10, 97/98 displacing some older scanias to North Bristol.

Is this recently confirmed (i.e. in the last couple of days) or previously planned and now on the back burner because of the above change to spending plans?

 

[CharlesR]

Is this recently confirmed (i.e. in the last couple of days) or previously planned and now on the back burner because of the above change to spending plans?

I’ve been told that this was announced about 4 weeks ago, but now will he delivered later on in the year.

 

[overthewater]

If that is the case, said buses might not appear until 2021.

 

[37114]

If that is the case, said buses might not appear until 2021.

Are these new buses or cascades? Last year's order had no Scania's in it so if new looks like they are back in the good books.

 

[CharlesR]

Are these new buses or cascades? Last year's order had no Scania's in it so if new looks like they are back in the good books.

I am going off very reliable sources, although sometimes they have been referred as Scanias, other time’s just as E400 MMCs. They are excepted to be brand new.

 

[Volvodart]

In the trading update today, Stagecoach now say they are going to be spending £14 million on vehicles "available for delivery in the short-term" this year, as liquidity is not as bad as they thought it might be.

 

[overthewater]

So how many is that? Whos getting the pleasure?

 

[TheGrandWazoo]

So how many is that? Whos getting the pleasure?

If you assume a mix of vehicles and an average cost of £250k....

 

[overthewater]

How big was the Manchester order -55 buses?

 

[al_557]

They need to replaced clapped out Darts at Stagecoach east

 

[gka472l]

How big was the Manchester order -55 buses?

If I've worked it out right, £14million with an average of £250k works out at 56 buses so I guess just the Manchester batch or thererabouts….

 

[RomeoCharlie71]

Note that, as far as I understand, this is an additional £14m, along with the originally stated £40m of capital expenditure and £20m of new leases.

 

[Volvodart]

That was mostly London in respect of vehicles plus ones either built or largely built prior to the close down. Steve Knight reckons the latter part was the 52 E400MMCs supposedly for Stagecoach Manchester.

 

[winston270twm]

Note that, as far as I understand, this is an additional £14m, along with the originally stated £40m of capital expenditure and £20m of new leases.

That's exactly how I read it,

- The original planned capital expenditure for 2020/21 was £105m of cash capital expenditure and c.£38m of new leases,
- In the 3rd April Covid 19 announcement, the above was cut to as follows: £40m of cash capital expenditure and c.£20m of new leases
- In todays Trading Update, the £40m of cash capital expenditure and c.£20m of new leases has since been increased by +£14 million, which is a positive sign

 

[overthewater]

Until we know what the actully order was it will be unclear if this is another trick

 

[TheGrandWazoo]

Until we know what the actully order was it will be unclear if this is another trick

In what way is this "a trick"?

It's a series of announcements as summarised by @winston270twm - don't think it's anything underhand

 

[overthewater]

What was the original order and what is the revised new order? Where still half of what we were supposed to be getting with only £54m for cash capital expenditure. I just think Stagecoach may have used a bit tricky to the announcement since maybe the scottish aspect of the orders have been curtailed, its not all about money.

 

[winston270twm]

What was the original order and what is the revised new order? Where still half of what we were supposed to be getting with only £54m for cash capital expenditure. I just think Stagecoach may have used a bit tricky to the announcement since maybe the scottish aspect of the orders have been curtailed, its not all about money.

The LSE / Investors aren't interested in whether it's only 100 x E400MMC's or 500 x E200MMC's, they're only interested in monetary values of capital expenditure.

 

[cnjb8]

I don't think East Mids is getting any brand new vehicles, despite the number of buses built before 2006. We are supposed to be getting former Manchester E400s

 

[Jordan Adam]

They need to replaced clapped out Darts at Stagecoach east

Just be lucky you ain't stuck with 20 year old Ex-Dublin deckers that have a top speed of 18MPH cough cough 16973.

If I've worked it out right, £14million with an average of £250k works out at 56 buses so I guess just the Manchester batch or thererabouts….

I may be wrong but from my understanding it's just the orders that were currently in build that are still going ahead with everything else postponed.

 

[overthewater]

What were under contrustion?

 

[RomeoCharlie71]

Manchester E400MMCs, and I believe, a batch for Aberdeen too.