National Express Group PLC EUR1 Billion German Rail Contract Award (4659N)

TIDMNEX

RNS Number : 4659N

National Express Group PLC

23 January 2023

NATIONAL EXPRESS GROUP PLC

EUR1 Billion German Rail Contract Award

National Express Group PLC ("National Express" or the "Company"), a leading international transport provider, is pleased to announce that its National Express Rail GmbH business has won a contract worth EUR1 billion over the lifetime of the agreement to operate the RE1 and RE11 Rhein-Ruhr-Express ("RRX") lines in Germany to 2033.

The Company took over the operation of the two lines in February 2022 through an emergency contract award, successfully mobilising in a short timeframe.

Following this new contract award, National Express now operates all three asset light RRX lots under long term contracts. Alongside our Rhine Munster Express operation, this allows us to unlock operational synergies, and cements our position as the trusted operator in the region.

The award of this contract establishes National Express as the second largest rail transport company in the region, delivering an anticipated 20 million train kilometres in 2023.

Ignacio Garat, National Express Group Chief Executive, said: "To have secured this contract on the back of an emergency contract award is testament to our operational excellence and the strength of our proposition in Germany. It is also clear evidence of our Evolve strategy in action, and we look forward to making further progress in realising similar asset-light opportunities across the Company."

Enquiries:

National Express Group PLC

 
Alison Cole, Group Corporate Affairs 
 and Sustainability Director           +44 (0)7552 267295 
Louise Richardson, Head of Investor 
 Relations                             +44 (0)7827 807766

Headland

 
Stephen Malthouse    +44 (0)7734 956201 
Henry Wallers        +44 (0)7876 562436 
Matt Denham          +44 (0)7551 825496

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

CNTVBLFLXFLFBBE

(END) Dow Jones Newswires

January 23, 2023 02:00 ET (07:00 GMT)

Mobico (LSE:MCG)
Historical Stock Chart
From Jun 2024 to Jul 2024