Europcar Mobility Group, which since 2017 includes Europcar Denmark, Goldcar and Buchbinder, also sold a stake in car2go.
Europcar Mobility Group has posted a full-year net profit of €139 million for 2018, up 128% compared to the previous year’s net profit of €61 million, despite widening losses during the first quarter.
This is mostly due to the impact of a strong rise in adjusted corporate EBITDA over the period, the group said, as well as a one-off gain generated from the sale of a 25% stake in car2go to Daimler Mobility Services for €70 million, which was announced on March 1.
The group generated revenues of €2.93 billion during the year, up 22% on 2017. Including the 2017 performance of Europcar Denmark, which the group bought in May 2017, Goldcar, which it acquired in December 2017, and Buchbinder, a purchase sealed in September 2017, the group’s revenues grew by 3.4%.
This “significant increase” in revenues was the result of positive growth across all of the group’s key markets and in its three major business units, with Cars growing by 9.4%, Vans & Trucks growing by 29% and Low Cost growing by 200%.
On a pro-forma basis, these three major business units grew their revenues by, respectively, 2.2%, 8.4% and 2.9%.
The number of rental days reached a new record of 87.7 million in 2018, up 27% versus 2017. On a pro-forma basis, growth in rental days was 3.4% for the group, spread across all its key business units.
Late last year, Europcar announced a partnership with SAS for visibility during the flight booking process.
However, the group’s corporate net debt stood at €795 million as of December 31, 2018, against €827 million on December 31, 2017.