Europcar returns to growth in 2010
For 2010 the firm has reported a 4.6% year-on-year rise in revenue to €1.973 billion with adjusted operating income up 12.0% to €243 million. The average fleet increased 1.1% to 193,154 units. Rental days were up 0.9% to 51.9 million.
Philippe Guillemot, CEO of Europcar Groupe, commented: 'Our 2010 results show the return to growth for Europcar, after 18 months of business contraction. This, together with the full effect of the reorganisation measures implemented in 2009, resulted in improved profitability.
'With the extension of the maturities of our main fleet financing facility and half of our corporate debt, we have time in front of us to grow our business. To this end, in 2010 we built our 3-Year Plan, to enhance growth and improve financial performance over 2011-2013.'
However, he added: 'The recovery in demand remains modest though, and many situations across the globe have an impact on the travel industry. These challenges may also represent opportunities. The agility of Europcar’s organization is more relevant than ever to face today’s fast-changing business environment.'For more of the latest industry news, click here.