Update on Europcar Mobility Group’s Cash Preservation Plan, Announced on March 23rd
28 Avril 2020 - 8:51AM
Business Wire
Regulatory News:
Europcar Mobility Group (Paris:EUCAR):
As part of the cash preservation plan announced on March 23rd
and updated on April 15th 2020, with first the finalization of
lines of financing 70% guaranteed by the Spanish State for an
amount of €36 million, the group announces the finalization of the
second tranche of this Spanish State guaranteed program, with new
3-year maturity lines for a global amount of € 31.25 million for
its two operating subsidiaries in Spain - under the Europcar and
Goldcar banners – which consolidate the Group's liquidity to enable
it to meet its vehicle financing needs and its corporate needs
related to the impacts of the COVID-19 pandemic.
The Group is continuing its negotiation, within the framework of
the processes supervised by the Ministry of the Economy and
Finance, with some of its lending banks to obtain additional
financing guaranteed by the French State via the BPI. The Group is
also continuing its efforts through its foreign subsidiaries in
countries where similar support measures have been deployed. The
outcome of these initiatives will be communicated in due
course.
Q1 results will be communicated on the 5th May after the closing
of the stock exchange.
About Europcar Mobility Group
Europcar Mobility Group is a major player in mobility markets
and listed on Euronext Paris. The mission of Europcar Mobility
Group is to be the preferred “Mobility Service Company” by offering
attractive alternatives to vehicle ownership, with a wide range of
mobility-related services and solutions: car rental and light
commercial vehicle rental, chauffeur services, car-sharing,
scooter-sharing and private hire vehicle (PHV – rental to “Uber
like” chauffeurs).
Customers’ satisfaction is at the heart of the Group’s mission
and all of its employees and this commitment fuels the continuous
development of new services. Europcar Mobility Group operates
through a diversified portfolio of brands meeting every customer
specific needs and use cases, be it for 1 hour, 1 day, 1 week or
longer ; its 4 major brands being: 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 solutions 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 available at:
www.europcar-mobility-group.com
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200427005944/en/
Investors Relations Caroline Cohen –
caroline.cohen@europcar.com +33 6 82 75 96 39
Press Relations Valérie Sauteret –
valerie.sauteret@europcar.com Vincent Vevaud –
vincent.vevaud@europcar.com +33 6 72 93 31 05 +33 6 43 64 21 49
Publicis Consultants Camille Madec –
camille.madec@publicisconsultants.com +33 7 86 42 95 15