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Arriva PLC (~264)

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Tuesday 20 July, 2004

Arriva PLC

Acquisition

Arriva PLC
20 July 2004

20 July 2004



ARRIVA EXPANDS ITS DANISH BUSINESS



•         Acquisition of Wulff A/S

•         Strong geographic fit with Arriva's existing business

•         Immediately earnings enhancing before the amortisation of goodwill



Arriva plc, the transport services organisation, has announced the 100 per cent
acquisition of Wulff Bus A/S ("Wulff"), an operator of bus services in Denmark.
Completion is anticipated in early August and is conditional upon consent on
change of control from the local tendering authorities.



The purchase price is 111 MDKK (£10.3 million) and will be satisfied in cash
from the Group's existing facilities.



Wulff's major activity is the operation of city and regional bus services in
Jutland.  The company has around 600 employees and a fleet of 300 vehicles.



Figures for the year ended 31 December 2003 show Wulff had a turnover of 254
MDKK (£23.6 million) and an operating profit of 23.6 MDKK (£2.2 million). Net
assets were 28.8 MDKK (£2.7million) including net debt of 145 MDKK (£13.5
million).  The acquisition is expected to be immediately earnings enhancing
before the amortisation of goodwill.



Arriva first entered the Danish market in 1997 and is now the major bus services
operator in the country, with around a third of the national market and a 40 per
cent share in the Greater Copenhagen Area. The company also operates two
passenger rail franchises in Jutland.



Bob Davies, Arriva's chief executive, said:



"Wulff's bus operations in Jutland and Copenhagen have a strong geographic fit
with our existing business. This acquisition provides an excellent opportunity
to deliver increased service efficiency and quality. In Jutland we will be able
to focus on developing greater integration of public transport."



Arriva has public transport operations in eight member states of the European
Union - the United Kingdom, Denmark, Sweden, the Netherlands, Germany, Portugal,
Spain and Italy.



Enquiries:


Arriva plc
Bob Davies, Chief Executive                                                                 0191 520 4000
Steve Lonsdale, Group Finance Director                                                      0191 520 4000
Julian Evans, Director of Corporate Communications                                          0191 520 4090

Tulchan Communications
David Trenchard                                                                             020 7353 4200
Andrew Honnor                                                                               020 7353 4200




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