Roadchef: M25 and M1 delays force motorway services to a loss
Significant disruption on the M25 and M1 forced motorway service station chain Roadchef into the red in 2024, it has been revealed.
The Staffordshire-headquartered group, which operates a 30-strong network of motorway service stations, has posted a pre-tax loss of £5.9m for its latest financial year.
The total comes after the business achieved a pre-tax profit of £13.4m in 2023.
However, Roadchef had fallen to a pre-tax loss of £6.6m in the prior year.
New accounts filed with Companies House also show the group’s revenue declined in 2024 from £256m to £247.4m.
Roadchef’s EBITDA (earnings before interest, taxes, depreciation and amortisation) fell by 10.5 per cent to £39.9m in the year.
The company said that result was “reflective of challenging trading conditions for the group, with continued economic uncertainty and cost-of-living pressures for our customers”.
It added: “Trading has been impacted in the year due to significant roadwork disruption on the M1 and M25 from which the group operates a number of motorway service areas.
“Management expect to see a recovery to revenue as the works are lifted in 2025.”
Sales and profit at Roadchef rival Moto rise
Roadchef operates 20 service areas over 28 sides of the motorway network. It also runs a two-sided service area at Sutton Scotney on the A34.
During 2024, the company’s headcount decreased from 3,936 to 3,817.
Since 2022, Roadchef has been owned by a fund managed by Macquarie Asset Management.
Macquarie has operated in the UK since 1989 and is headquartered in Australia.
Roadchef’s results come after rival Moto posted a turnover of £1bn for 2024 and a pre-tax profit of £42.2m.
The company’s latest turnover total was a rise of £8m compared to 2023 while its profit increased by the same amount.
CVC Capital Partners and the Universities Superannuation Scheme (USS) have jointly owned Moto since 2015.