AA PLC AA Intermediate Co Half-year Report (5240L)

TIDMAA.

RNS Number : 5240L

AA PLC

03 October 2016

AA Plc

AA Intermediate Co Limited Interim results for the six months ended 31 July 2016

In compliance with the requirements of AA Intermediate Co Limited's ('AA Intermediate Co') Class A and Class B notes, interim year results for AA Intermediate Co have been issued to the Irish Stock Exchange. The results are also available on the AA plc website at www.theaaplc.com.

AA Intermediate Co Limited is the parent company of the companies that provide security and guarantees under the Whole Business Securitisation ('WBS') financing arrangements entered into by the AA on 2 July 2013.

AA Intermediate Co Limited's results differ from the results of AA plc that were announced on 28 September 2016.

The material differences relate to the consolidated assets and liabilities as follows:

1. Inter-company balances, which were GBP1,212m lower for AA plc than for AA Intermediate Co as all non-trading balances were eliminated in AA plc as part of the 2013 financing

transaction;

2. Cash balances, which were GBP36m higher for AA plc than for AA Intermediate Co as GBP13m of restricted cash was held at AA plc level for the AA plc group's Insurance Underwriting activities and GBP23m of available cash held mainly to pay the interim dividend to AA plc shareholders.

While there are some immaterial differences between the revenue and Trading EBITDA of AA Intermediate Co Limited and AA plc, principally due to the Insurance Underwriting segment not being in the AA Intermediate Co Limited group, the trading performance of the companies is substantially comparable

Enquiries

IR

Jill Sherrat, Head of Investor Relations [phone]

James Curran, Investor Relations Manager [phone]

Media

Francesca Tuckett, Headland [phone]

This information is provided by RNS

The company news service from the London Stock Exchange

END

IR UOOURNBARRAA

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October 03, 2016 08:40 ET (12:40 GMT)