Europcar Mobility Group: Current Trading FY 2021 Outlook & Trajectory for FY 2022-2023
20 Septembre 2021 - 9:09AM
Business Wire
STRONG REVENUE GROWTH IN JULY & AUGUST
2021 DRIVEN BY DOMESTIC DEMAND & POSITIVE PRICING
IMPACT
UPDATED OUTLOOK FOR FY 2021:
SIGNIFICANT REVENUE GROWTH
CORPORATE EBITDA1 ABOVE €110M
CORPORATE NET DEBT IN THE RANGE
ANNOUNCED IN H1 2021
Regulatory News:
Europcar Mobility Group (Paris:EUCAR):
CURRENT TRADING: STRONG PERFORMANCE IN JULY & AUGUST
2021
- A strong rebound in July & August 2021: revenue up +45% to
€538m vs same period in 2020, but still -30% vs 2019
- Top-line driven by domestic markets, highlighting a sharp
rebound in the US and Southern Europe
- Performance over the first 2 months of Q3 2021 benefiting from
both higher volumes and strong RPD
OUTLOOK FOR FY 2021
- Good momentum in July & August raised Group’s confidence
for the FY 2021 despite an expected still limited long-haul
traffic, an environment that should remain volatile depending on
travel restrictions, the impact of the “Delta / Mu variants” and
ongoing shortage of semiconductors
- The Group re-iterates its ambition to deliver significant
revenue growth for the FY2021 vs 2020
- Corporate EBITDA1 in 2021: above €110m (compared to -€276m in
2020 and €278m in 20192)
- Corporate net debt: in the €300m-350m range announced in H1
2021 (on 28 July 2021), including transformative capex as
previously communicated3
- The Group continues to run a strict cost control policy and
focus on cash preservation
FY 2022 AND 2023: KEY MID-TERM TRAJECTORY
- Considering the uncertain business environment related to the
Covid pandemic and the semiconductor shortage development, outlook
for FY 2022 and 2023 still remains broadly in line with the one
communicated in the Group’s press release dated 26 November
20204
About Europcar Mobility Group
Europcar Mobility Group is a major player in mobility markets
and listed on Euronext Paris. Europcar Mobility Group’s purpose is
to offer attractive alternatives to vehicle ownership, in a
responsible and sustainable manner. With this in mind, the Group
offers a wide range of car and van rental services – be it for a
few hours, a few days, a week, a month or more – with a fleet that
is already "C02 light" and equipped with the latest engines, and
which will be increasingly "green" in the years to come (more than
1/3 electric and hybrid vehicles by 2023).
Customers’ satisfaction is at the heart of the Group’s ambition
and that of its employees. It also fuels the ongoing development of
new offerings in the Group's three service lines - Professional,
Leisure and Proximity - which respond to the specific needs and use
cases of both businesses and individuals. The Group’s 4 major
brands are: Europcar® - the European leader of car rental and light
commercial vehicle rental, Goldcar® - the low-cost car-rental
Leader in Europe, InterRent® – ‘mid-tier’ car rental and Ubeeqo® –
one of the European leaders of round-trip car-sharing (BtoB, BtoC).
Europcar Mobility Group delivers its mobility solutions worldwide
through an extensive network in over 140 countries (including
wholly owned subsidiaries – 18 in Europe, 1 in the USA, 2 in
Australia and New Zealand – completed by franchises and
partners).
Further details on our website:
www.europcar-mobility-group.com
Forward-looking statements
This press release includes forward-looking statements based on
current beliefs and expectations about future events. Such
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 statements, regarding performance or
events. Forward-looking statements are generally identified by the
words “expects”, “anticipates”, “believes”, “intends”, “estimates”,
“plans”, “projects”, “may”, “would”, “should” or 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 about Europcar Mobility Group
and its subsidiaries and investments, trends in their business,
future capital expenditures and acquisitions, developments in
respect of contingent liabilities, changes in economic conditions
globally or in Europcar Mobility Group’s principal markets,
competitive conditions in the market and regulatory factors. Those
events are uncertain; their outcome may differ from current
expectations which may in turn materially affect expected results.
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. Other than as required by applicable law,
Europcar Mobility Group does not undertake to revise or update any
forward-looking statements in light of new information or future
events. The results and the Group's performance may also be
affected by various risks and uncertainties, including without
limitation, 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 invitation to purchase any
securities in France, the United States or any other
jurisdiction.
Regulated information related to this press
release is available on the website:
https://investors.europcar-group.com/results-center
www.europcar-mobility-group.com
1 Pre-IFRS 16 2 2019 PF (pro-forma) Corp. EBITDA of €0.26bn
refers to full year inclusion in 2019 of Fox Rent-a-Car and Finland
and Norway franchisees 3 As a reference of non-fleet capex of €75m
disclosed on the Group’s press release dated on 26 November 2020 4
The projections for certain Group financial P&L and Operating
cash flow aggregates for the years 2021, 2022 and 2023 communicated
in the Group’s press release dated 26 November 2020, have been
prepared in September 2020 for the purpose of the establishment of
the Group’s 2023 business plan; These projections should not be
considered profit forecasts or estimates as defined by commission
Delegated regulation (EU) 2019/980 of March 14, 2019
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version on businesswire.com: https://www.businesswire.com/news/home/20210920005364/en/
Investor Relations Caroline
Cohen - caroline.cohen@europcar.com
Press Relations Valérie
Sauteret - valerie.sauteret@europcar.com Vincent Vevaud -
vincent.vevaud@europcar.com