Autohellas Financial Highlights Q1 2018
Positive momentum in turnover and significant improvement in operating profitability in seasonally weak first quarter
Autohellas announces the results of the first quarter of 2018, showing a significant increase of 53.7% in consolidated revenue, which amounted to €96.9mil. compared to €63.0 mil. in 2017.
Car rental revenue in Greece and abroad, the Group's core business, increased by 14% in the first quarter of 2018 and reached € 33.5 mil. from € 29.4 mil. in 2017. This momentum, in tourism’s weakest quarter, comes mainly from corporate leases. Additionally, fleet used car disposals reached € 10.3 mil., an increase of 19%.
At the same time, car trade and services, boosted by the slight recovery of the market but also by the acquisition and incorporation, since 31/12/2017, of the importing and distribution activities of HYUNDAI & KIA, added a total of € 53.0 mil. to the Group's revenue compared to € 24.9 mil. in 2017 and contributed positively to the operating result.
Earnings before interest, tax, depreciation and amortization (EBITDA) increased by 30,3%, reaching €24,5 mil., while earnings before interest and tax (ΕΒΙΤ) increased by 81,1%, reaching €6,7 εκ. Finally, the Group’s consolidated earnings after tax (ΕΑΤ) for Q1 2018 reached €1,6 mil. compared to €0,2 mil. in the same period last year.
CONSOLIDATED RESULTS HIGHLIGHTS: