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Europcar reports Strong 1H2008 Performance

Search ASIA Travel Tips .com Latest Travel News Send to Friend Tuesday, 19 August 2008

The May 2008 acquisition of Europcar Asia Pacific has helped boost Europcar Internationals annual revenue by more than 17%.

The financial results for the first half of 2008 confirm Europcar continues to perform strongly with revenue for the first six months of 2008 at 987.9 million, a 17.4% increase based on the comparable period.

The Europcar business is the main contributor to consolidated revenues, said Europcar Australasia group marketing manager Ashley Jurberg. The outstanding results for the first half of 2008 reflect on the one hand the organic growth of the business and on the other, the positive financial impact of Eurazeos acquisition of PremierFirst in February 2007, Betacar in the third quarter of 2007 and the Europcar Asia Pacific franchise in May this year.

All the countries in which Europcar had direct operations contributed to revenue growth with the strength of each performance varying according to the economic environment of each country.

Europcar Australasia is the third largest vehicle-hire operator in Australia and one of the largest in New Zealand, Jurberg added. The company has strong brand recognition and continues to aggressively grow its business throughout the region which made the acquisition of the Europcar Asia Pacific franchise a well-placed strategic move for Europcar Internationals organic growth.

In 2007 Europcar Australasia managed more than two million rental days generating A$123 million in revenue, an increase of 18% from 2006.

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