STRONG REVENUE GROWTH IN JULY & AUGUST 2021 DRIVEN BY DOMESTIC DEMAND AND A POSITIVE IMPACT ON PRICES
UPDATED OUTLOOK FOR 2021:
SSIGNIFICANT GROWTH IN REVENUES
VSCOMPANY EBITDA1 OVER € 110 MILLION
VSNET ORPORATE DEBT IN THE RANGE ANNOUNCED IN H1 2021
PARIS, September 20, 2021– (BUSINESS WIRE) – Regulatory news:
Europcar Mobility Group (Paris: EUCAR):
CURRENT TRADING: STRONG PERFORMANCE IN JULY & AUGUST 2021
A strong rebound in July and August 2021: turnover up + 45% to € 538m vs the same period in 2020, but still -30% vs 2019
Sales driven by domestic markets, highlighting a strong rebound in the United States and Southern Europe
Performance over the first 2 months of Q3 2021 benefiting from both higher volumes and a solid RPD
OUTLOOK FOR 2021
Good momentum in July & August strengthened the Group’s confidence for the 2021 financial year despite expected long-haul traffic that is still limited, an environment which should remain volatile depending on travel restrictions and the impact of “Delta variants / Mu ”and the persistent shortage of semiconductors
The Group reiterates its ambition to generate significant revenue growth for fiscal year 2021 vs 2020
Company EBITDA1 in 2021: greater than € 110m (compared to – € 276m in 2020 and € 278m in 20192)
Corporate net debt: in the range of € 300m to € 350m announced in H1 2021 (July 28, 2021), including transformation investments as previously communicated3
The Group continues to pursue a strict policy of cost control and to focus on preserving cash flow.
FINANCIAL YEAR 2022 AND 2023: KEY MEDIUM-TERM TRAJECTORY
Given the uncertain business environment linked to the Covid pandemic and the evolution of the semiconductor shortage, the outlook for fiscal years 2022 and 2023 remains broadly in line with those communicated in the Group’s press release in date of November 26, 20204
About Europcar Mobility Group
Europcar Mobility Group is a major player in the mobility markets and listed on Euronext Paris. The objective of Europcar Mobility Group is to offer attractive alternatives to owning a vehicle, in a responsible and sustainable manner. With this in mind, the Group offers a wide range of car and van rental services – whether for a few hours, a few days, a week, a month or more – with a fleet already “C02 light” and equipped with them. latest engines, and which will be increasingly “green” in the years to come (more than 1/3 of electric and hybrid vehicles by 2023).
Customer satisfaction is at the heart of the Group’s ambition and that of its employees. It also fuels the continuous development of new offers in the Group’s three service lines – Professional, Leisure and Convenience – which meet the specific needs and use cases of businesses and individuals. The Group’s 4 major brands are: Europcar® – the European leader in the rental of cars and light commercial vehicles, Goldcar® – the leader in low-cost car rental in Europe, InterRent® – the rental of cars’ mid -tier ‘and Ubeeqo® – one of the European leaders in round-trip carsharing (BtoB, BtoC). Europcar Mobility Group offers its mobility solutions worldwide via an extensive network in more than 140 countries (including 100% subsidiaries – 18 in Europe, 1 in the United States, 2 in Australia and New Zealand – completed by franchises and partners).
More details on our website: www.europcar-mobility-group.com
This press release includes forward-looking statements based on current beliefs and expectations regarding future events. These forward-looking statements may include projections and estimates and their underlying assumptions, statements regarding plans, objectives, intentions and / or expectations with respect to future financial results, events, operations and services. and product development, as well as performance or event statements. Forward-looking statements are generally identified by the words “expects”, “anticipates”, “estimates”, “intends to”, “estimates”, “plans”, “plans”, “could”, the negative of these terms and similar expressions. Forward-looking statements are not guarantees of future performance and are subject to inherent risks, uncertainties and assumptions regarding Europcar Mobility Group and its subsidiaries and investments, trends in their activities, future capital expenditures and acquisitions, developments regarding contingent liabilities, changes in global conditions or in Europcar Mobility Group’s main markets, competitive market conditions and regulatory factors. These events are uncertain; their outcome may differ from current expectations, which in turn may have a significant impact on expected outcomes. Actual results may differ materially from those projected or implied in these forward-looking statements. Any forward-looking statement contained in this press release is made as of the date of this press release. Except as required by applicable law, Europcar Mobility Group does not undertake to revise or update any forward-looking statements in the light of new information or future events. The results and performance of the Group may also be affected by various risks and uncertainties, including, without limitation, the risks identified in the “Risk Factors” of the Universal Registration Document registered by the Autorité des marchés financiers. and also available on the Group’s website: www. europcar-mobility-group.com. This press release does not contain or constitute an offer or an invitation to purchase securities in France, the United States or any other jurisdiction.
Regulated information relating to this press release is available on the website:
1 Pre-IFRS 16
2 PF (pro forma) Corp. 2019 EBITDA € 0.26 billion refers to the inclusion in 2019 of Fox Rent-a-Car and Finnish and Norwegian franchisees
3 As a reference for non-fleet investments of € 75 million communicated in the Group’s press release dated November 26, 2020
4 The projections of certain aggregates of the Group’s financial P&L and operating cash flow for the years 2021, 2022 and 2023 communicated in the Group’s press release dated November 26, 2020, were prepared in September 2020 with a view to the establishment of the Group’s 2023 business plan; These projections should not be considered as forecasts or profit estimates as defined by Commission Delegated Regulation (EU) 2019/980 of March 14, 2019.
See the source version on businesswire.com: https://www.businesswire.com/news/home/20210920005364/en/
Caroline Cohen – [email protected]