GoCollective Bus A/S

Beskrivelse af virksomhedens væsentligste aktiviteter

Business reviewThe company's purpose is to carry out passenger transport by bus and harbour bus as well as the repair, rental and maintenance of bus equipment and related business.

Beskrivelse af usikkerhed ved indregning eller måling

Unusual mattersNo unusual matters were identified or recognised during the financial year 2025.

Beskrivelse af udviklingen i virksomhedens aktiviteter og økonomiske forhold

Operating and financial reviewThroughout 2025, GoCollective Bus successfully mobilised several major awarded contracts, including the full mobilisation of the MT66-contract in the middle part of Jutland and Svendborg contract on Funen. The mobilisation of MT66 represented a particularly complex task, involving six operational sites and five depots. Despite the scale and complexity, the mobilisation was delivered on time and with full operational readiness from day one.GoCollective was awarded the MT73 contractin eastern Jutland, a three-yearagreementcommencingin June 2026 with theoptionfor a two-year extension. The contract includes 23 diesel buses and approximately 60,000 scheduled hours annually, effectively representinga continuation of an existing operational area.During autumn 2025, GoCollective also secured long term financing for its electric bus expansion program, including committed CAPEX financing ofapp. TDKK 660,000for the purchase of new electric buses. This financing is essential for the Group’s ability to execute andoperatethe awarded contracts and provides a solid foundation formaintaininggoing concern and supporting the planned transition to a fully electric bus fleet in the coming years.The year concluded in December with the mobilisation of the first phase of the A23 contract operatingat Copenhagen and aroundNykøbingSjælland,marking another important milestone in the expansion ofGoCollective’selectric bus activities. Throughout the mobilisation period, operations were stabilised despite ongoing recruitment challenges in certain local labour markets, supported by targeted workforce planning, flexible resource allocation, and focused onboarding processes.GoCollective Bus successfully completed and introduced new major transformation initiatives, including:Mobilisation of several new contractsImplementation of Drivers Coach program to promote improvements in driving behavior and ensureoptimalfuel and battery consumptionSecured long term financing, including committed CAPEX financing ofapprox. TDKK660,000.Change of governanceDuring 2025, the Managing Director of GoCollective Bus was appointed Managing Director of Rail in addition to his responsibilities within the Bus segment, ensuringconsolidatedleadership oversight across the Group’s operational businesses during the transition period.New company structureAs of January 2025, GoCollective completed a process of streamlining its legal structure to have a common holding company structure with a separate business unit for Bus operations. The new GoCollective Bus A/S will focus exclusively on operational Bus activities and act as the parent for all entities within the Bus subgroup of companies. As part of the reorganisation, GoCollective Service A/S has been split into two entities with GoCollective Bus Service A/S continuing as the service company for GoCollective Bus.

Omtale af betydningsfulde hændelser, som er indtruffet efter regnskabsårets afslutning

Strategic DevelopmentsBuilding on the momentum from 2024, GoCollective Group advanced its strategic objectives in 2025. Tendering activities in 2025 reflected a selective and disciplined approach to contract acquisition in a competitive market. In 2025 GoCollective took the first significant step toward a fundamental transformation of the bus business, initiating the transition to a fully electric fleet over the next five years.

Beskrivelse af virksomhedens forventede udvikling

Challenges and risk mitigationThe Bus business continues to be affected by ongoing discussions regarding the indexation framework applied to public transport contracts. The current indexation mechanisms do not fully reflect the actual development in driver’s wage levels following recent collective agreements, which has resulted in a structural misalignment between salary cost development and contract revenue adjustments.Management remains engaged in constructive dialogue with relevant public transport authorities, together with industry peers, with the objective of improving indexation alignment for both existing and future contracts. In parallel, the Bus business continues to focus on cost discipline, operational efficiency and selective tender participation to mitigate the financial impact of the current indexation framework.