FirstGroup - FirstGroup Recent Years - B

FirstGroup - B

FirstGroup Recent Years

In June 2010, FirstGroup sold its railfreight business First GBRf to the Eurotunnel Group for £31 million, ending the group's involvement in rail freight transport. In September 2010, former London Underground managing director Tim O'Toole, already a board member since May 2009 and chief operating officer and Deputy Chief Executive since June 2010, was announced as the successor to retiring group chief executive officer Moir Lockhead with effect from 31 March 2011.

In September 2011, FirstGroup's German bus operations were sold to Marwyn European Transport. In December 2011, DSBFirst ceased operating the Swedish part of the operation after difficulties encountered by Danish State Railways over cross subsidies.

In July 2012, First Travel Solutions provided bus and coach services for the London 2012 Olympic Games as First Games Transport. This involved the provision of venue shuttle and park and ride services, services connecting the peripheral park and ride sites on the M25 with the Olympic Park and Ebbsfleet, and a nationwide network of express coaches to the Olympic Park and the Weymouth and Portland sailing venue. The services required around 900 vehicles in total, although some were sub-contracted.

In June 2013, most of the First London bus operations were sold to Go-Ahead London, Metroline and Tower Transit. In April 2015 FirstGroup was unsuccessful in bidding for the ScotRail franchise, which was run by Abellio ScotRail until the end of that franchise in March 2022. In December 2015, FirstGroup was awarded the next TransPennine Express franchise. The new franchise commenced on 1 April 2016 with a commitment to introduce new trains, routes and faster journey times.

In October 2016, First Transit commenced operating the A-train under contract to the Denton County Transportation Authority, its first rail operation in the United States. In August 2017 FirstGroup's joint venture with MTR Corporation commenced operating the South Western franchise, FirstGroup having a 70% shareholding in South Western Railway.

In May 2019, FirstGroup announced it would sell its UK bus operations. The only sales completed were parts of First Greater Manchester to the Go-Ahead Group and Rotala. In May 2020, FirstGroup announced it would retain its UK bus operations and sell its North American assets instead.

In April 2021, FirstGroup agreed terms to sell the First Student and First Transit businesses to EQT Partners. The sale completed later in 2021.

In October 2021, FirstGroup announced the sale of Greyhound Lines to FlixMobility, completing its stated strategy to focus on its leading UK public transport businesses. In October 2021, Lumo commenced operating services on the East Coast Main Line.

In June 2022, FirstGroup rejected a £1.2bn takeover proposal from a US private equity bidder.

In February 2023, FirstGroup announced that subject to regulatory approval, it would purchase both the bus services and bus dealer operations of Purfleet-based Ensignbus.

FirstGroup Operations

FirstGroup is Britain's largest bus operator, running more than 20% of all local bus services. A fleet of nearly 9,000 buses carries some 2.9 million passengers a day in more than 40 major towns and cities. FirstGroup also runs passenger rail services in the UK. Passenger rail franchises consist of Avanti West Coast, Great Western Railway and South Western Railway. It also runs two non-franchised open access passenger operations - Hull Trains and Lumo. FirstGroup operates tram services on the London Tramlink network carrying approximately 24 million passengers a year on behalf of Transport for London.

FirstGroup owns and operates the Aircoach service in Dublin, linking Dublin Airport with the city centre, the south side of Dublin, Greystones and Bray as well as long-distance express services runs to Cork and Belfast.

FirstGroup Overview

FirstGroup Type: Public

FirstGroup Traded As:

LSE: FGP

FTSE 250 component

FirstGroup Industry: Transport

FirstGroup Founded: 1 April 1995

FirstGroup Headquarters: Aberdeen, Scotland, UK

FirstGroup Area Served: United Kingdom

Republic of Ireland

FirstGroup Key People: David Martin

(Interim Executive Chairman)

Graham Sutherland

(Chief Executive)

FirstGroup Products: Bus, coach, rail & tram

FirstGroup Revenue Increase: £4,591.1 million (2022)

FirstGroup Operating Income: Decrease £122.8 million (2022)

FirstGroup Net Income: Increase £642.0 million (2022)

FirstGroup Number of Employees: 53,323 (2022)

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