Europcar Presents 2010 Full Year Results
FindaHireCar.com, the car hire comparison website, is pleased to report that Europcar, one of the key car rental partners in our network of 550 leadin...
FindaHireCar.com, the car hire comparison website, is pleased to report that Europcar, one of the key car rental partners in our network of 550 leading car rental suppliers, has reported strong financial results for the year 2010.
Philippe Guillemot, Chief Executive Officer of Europcar Groupe, commented, “Our 2010 results show the return to growth for Europcar, after 18 months of business contraction. This, together with the full effect of the reorganization measures implemented in 2009, resulted in improved profitability. With the extension of the maturities of our main fleet financing facility and half of our corporate debt, we have time in front of us to grow our business. To this end, in 2010 we built our 3-Year Plan, to enhance growth and improve financial performance over 2011-2013.
The recovery in demand remains modest though, and many situations across the globe have an impact on the travel industry. These challenges may also represent opportunities. The agility of Europcar’s organization is more relevant than ever to face today’s fast-changing business environment.”
For the year ended December 31, 2010, Europcar’s consolidated revenue rose by 4.6% to €1.973 billion, from €1.886 billion in 2009, restated at constant exchange rates.
Average Revenue Per Day (RPD) rose by 3.7% in the year, in line with the 3.4% increase reported for the full year 2009. Overall for the year, rental day volume increased by 0.9% compared with the 2009 level.
Europcar has recorded continuous and significant improvements in RPD over the past 10 quarters. Europcar’s leadership in the European market has enabled the Group to maintain pricing discipline and continue the actions begun in the 3rd quarter of 2008 to improve the customer mix.
Europcar is the leader in car rental services in Europe. Present in 150 countries, the company provides customers with access to the world’s largest vehicle rental network through franchise operations and partnerships. Through Europcar’s portfolio of brands, the company and its franchisees generated more than €3 billion in revenue in 2010, including nearly €2 billion in consolidated revenue. With 6,500 employees committed to delivering customer satisfaction and an average fleet of close to 200,000 vehicles, Europcar is conscious of its corporate citizenship responsibilities. Winner of the first World Travel Award recognizing the World’s Leading Green Transport Solutions Company, Europcar also was honored with the Award in 2010, the second time it was presented.
FindaHirecar.com was founded in 2008 with the intention of offering our customers a wide choice of cheap high quality car hire. By utilizing the technology of CarTrawler, we offer the cheapest fully inclusive rates to our customers from the largest selection of car rental from over 550 leading and independent car rental suppliers including Avis, Alamo, Budget Car Hire, Dollar Rent-A-Car, Enterprise Rent-A-Car, Europcar, Fox Rent A Car, Payless Car Rental, Sixt Holiday Cars, Thrifty Rental and many more trusted global brands.
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