Mobico Group (LSE:MCG) has announced that its subsidiary, ALSA, has secured a major eight-year contract in Saudi Arabia worth €500 million. The deal, signed in partnership with a local operator, will involve the deployment of 156 vehicles — including 126 electric buses — to support transport operations at Qiddiya, a major entertainment hub located near Riyadh.
The contract represents a strategic expansion for Mobico in the Middle East and reinforces ALSA’s position as a competitive player in sustainable, large-scale transportation solutions.
Despite this milestone, Mobico continues to face financial headwinds. The company has struggled with persistent net losses and elevated leverage levels. Technical signals currently indicate a bearish trend, and its valuation remains pressured by a negative P/E ratio and the absence of a dividend. While recent earnings pointed to encouraging revenue growth, operational and debt-related challenges remain key concerns for investors.
About Mobico Group
Mobico is an international shared mobility provider, offering bus, coach, and rail services across the UK, North America, continental Europe, North Africa, and the Middle East.
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