Europcar sees strong increase in revenue for first quarter

Europcar sees strong increase in revenue for first quarter

Europcar has announced results for the first quarter 2017, revealing the group generated revenues of €439.3 million during the period.

This is up 6.6 per cent at constant exchange rates compared with the first quarter of 2016.

On an organic basis, i.e. at constant exchange rates, constant perimeter and excluding petrol, the group revenues grew by 3.2 per cent.

This significant increase in revenues was the result of solid growth across all major business units with cars growing by 4.3 per cent, vans and trucks growing by 4.5 per cent, and InterRent growing by a stellar 49 per cent.

More importantly, the solid revenue numbers were delivered thanks to good momentum in both the leisure and corporate businesses and are once again proof of the strength and robustness of the Group balanced business model, argued Europcar.

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For Caroline Parot, chief executive, Europcar Group: “We start the year on a solid footing.

“Our revenue growth of 6.6 per cent is driven by a strong momentum across all of our three major business units.

“We have continued to deliver significant improvements in both fleet costs per unit down 3.4 per cent year on year.

“As planned, we have accelerated our investments into our InterRent network as well as into the digitalisation of our customer journey.”

Parot added: “We are also pleased to announce the acquisition of our Danish franchisee and delighted to welcome Europcar Denmark as our newest corporate country.

“Together with the existing management team, we aim to support the continued growth of the business and to achieve significant synergies with our other corporate countries.”

The number of rental days increased to 12.9 million in quarter one of 2017, up 9.3 per cent versus the first three months of 2016.