Published on : Friday, November 10, 2017
The adjusted corporate EBIDTA stood at €164 million that was up by 3.9 per cent at constant exchange rates.
Caroline Parot, the chief executive of Europcar Group said that they delivered a strong revenue growth in the third quarter due to the supportive summer season across most of the European markets.
There was a dynamic leisure momentum across all the brands, inspite of a highly competitive environment across the European markets, Europcar showed strong resilience and generated a robust free cash flow with sound corporate adjusted EBIDTA growth.
Excluding New Mobility, the first nine months of the year had an adjusted corporate EBIDTA margin of 12.4 per cent.
The net income for quarter three was €105 million that was up 9.2 per cent year-on-year, whereas the nine month net income was €78 million which was down by 21 per cent.
Parot further said that Buchbinder transaction was closed in September and the Goldcar transaction was expected to close by the end of the year. The necessary financing for the two transactions in the bond markets was raised in October. The existing fleet bond was also refinanced generating significant financing cost savings.
Customer First and Air Force One are some of the dedicated programmes through which Europcar is improving its customer service.
In the first nine months of 2017 the group’s leisure business generated 59 per cent of all rental revenue.