Europcar reports losses during the first quarter

Friday, May 18, 2018

A loss of €21 million for the first quarter of 2018 has been reported by Europcar and the figure compares to a loss of €6 million for the same period last year.

For the first three months of the financial year revenue at the car rental giant was €556 million up 28 per cent at constant exchange rates.

Caroline Parot, chief executive, Europcar Group stated that Europcar Group is pursuing and accelerating its transformation as a global provider of mobility services.

They aim to become the preferred mobility service economy for the customers  that will offer alternative to vehicle ownership along with a wide range of services from vehicle to chauffeur-services , vehicle-sharing and peer-to-peer rental services.

The first quarter of 2018 generated strong revenue growth of 28 percent for the group due to the solid momentum because of the recently acquired companies within the historical perimeter.

The company’s organic revenue reached 3.9 per cent in the first quarter of the year. The adjusted corporate EBITDA at Europcar was impacted by the integration of Goldcar. This as expected significantly increased the seasonality of the group’s profitability generation along with a negative mix effect generated by the strong growth of the low cost and the trucks business units.

Digital transformational costs saw an increase.

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• Strong third quarter for Europcar, generated €989 million

• Strong third quarter for Europcar, receives €989 million revenue