Autohellas reports 2019 FY financial results with consolidated Group revenue at €555.4m, increased by 18.1% compared to €470.4m in 2018. During the same period Earnings Before Interest, Tax and Depreciation (EBITDA) reached €157.3m. recording an increase of 5.6%.
Earnings After Tax (EAT) reached € 46.6m, from € 38.8m in 2018, up 20.1%.
Group Equity reached € 294.5m. as of 31.12.2019, against € 246.4m the respective period last year.
It is worth noting that during 2019 there was an investment of € 169.9m in new vehicle purchases, with the Group’s total fleet having increased by over 3,000 cars as of 31.12.2019, reaching 48,300 cars, out of which 35,600 in Greece and the remaining 12,700 in the 7 countries where the Group operates in.
Note that the acquisition of ELTREKKA SA by the Group, impacted its turnover by only € 14.4m. during the year, since the completion of the transaction on 31 May 2019.
CONSOLIDATED RESULTS HIGHLIGHTS:
| 2019 | 2018 | % LY | |
| Total Turnover | 555,413 | 470,379 | 18.1% |
| Car Hire | 206,953 | 198,336 | 4.3% |
| Used Car Sales | 52,813 | 48,693 | 8.5% |
| Car Trading & Services | 295,647 | 223,350 | 32.4% |
| EBITDA | 157,315 | 148,913 | 5.6% |
| EBIT | 66,026 | 71,941 | -8.2% |
| Earnings Before Tax (EBT) | 57,345 | 55,193 | 3.9% |
| Earnings After Tax (EAT) | 46,600 | 38,808 | 20.1% |
The current year, 2020, is turning into a year of “uncertainty” due to COVID–19, which will undoubtedly affect Autohellas Group’s activities. However, with the Group’s strong capital base and its structure, it is our belief that mitigating potential effects is possible. The Group’s two pillars of activity, Car-Hire and Auto-Trade, create strong synergies and provide the required flexibility.
