Full Year 2025 ZIGUP PLC Earnings Presentation Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: David Brockton - Numis Securities LLC - Analyst : It's David Brockton from Deutsche Numis. Can I ask two , please. One on Spain and one on the claims and services business. Spain growth is clearly very strong in a good market. I was just interested to get your perspective on where you think the share gains of the business are coming from. Do you think there's a sort of step change in growing rental penetration in the region and you're capturing those new customers? Or do you think it's coming from competitors that maybe don't have that sort of flex presence that the business has? That's the first question. I don't know if you want to do that, and I'll do the second one, or do you want me to. Yeah.

Question: David Brockton - Numis Securities LLC - Analyst : And then on claims and services, I guess it sort of two pronged question. First, I guess when we look at the pre-merger returns of the claims business, the margins were higher, but obviously there's been a mixed shift towards direct repair activity and direct hire that's lower margin. I wonder if you could just maybe one financially just tell us how you think about that from a business perspective, but two, going forwards from a growth perspective, how you see the balance of opportunities between all of those moving parts would be useful.