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Autohellas Reports Increased Profitability

Autohellas reports increased profitability for the first nine months of 2024, driven by strong rental performance and despite a slight decrease in car sales.

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Greek

Greece

Labour MarketFinanceBusinessEarningsAutomotiveRental

AutohellasAegeanTrade EstatesItalian MotionFiat/Jeep/Alfa Romeo

What caused the change in car sales revenue in Greece?: The decrease in car sales revenue in Greece, compared to 2023, resulted from the absence of accumulated unfulfilled orders from previous years due to supply chain issues. The Italian Motion division (FIAT/JEEP/Alfa Romeo) generated 116.4 million euros in sales during the nine-month period.
What were the key factors contributing to Autohellas's financial performance?: The company's strong performance was driven by positive short-term (mainly tourist) rentals and a significant increase in its long-term rental fleet. While car sales showed a slight decrease compared to 2023, they remained profitable.
How did Autohellas's international operations perform during the nine-month period?: Autohellas's international operations saw a 4.2% increase in turnover to approximately 142 million euros, maintaining profitability despite stable costs through outsourcing. Profitability remained satisfactory in all markets except Portugal.
How did Autohellas's third-quarter results compare to the first nine months' results?: In the third quarter, while consolidated turnover decreased by 3.4% to 276 million euros, EBITDA increased by 2.6% to 99 million euros. However, consolidated net profit fell by 10.4% to 39 million euros.
What were the overall financial results of Autohellas for the first nine months of 2024?: Autohellas, a car rental and sales group, concluded the first nine months of 2024 with increased profitability. Despite a slight decrease in turnover, EBITDA rose by 2.6% to approximately 218 million euros, and net profits increased by 1.8% to 76 million euros.

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