A new record of profitability and turnover is recorded by the company for the second year in a row Autohellas at the consolidated level during the nine months of 2022. In particular, the listed company increased its nine-month turnover by 17% year-on-year to €569m, up 57% to €90m, pre-tax profit with a net income of €71.5m (+54% ). In total, the fleet used for short and long term rentals exceeded 49,000 vehicles, with 9,000 new vehicles purchased.

In the third quarter, which is seasonally the strongest of any financial year, turnover increased 22.6% year-on-year to 217.2 million euros, while net income increased 42.6% to 42.1 million . euro.

By field of activity car rental in Greece, they recorded a 25.3% increase in turnover to €195.5 million in the nine months of 2022 compared to the corresponding period in 2021. further renewal of the network of stations, as well as an increase in the market share of Autohellas. In 2021 and for the first nine months of this year, Autohellas net investment of 202 million euros to expand and upgrade the fleet with new types, with a special focus on crossovers, SUVs, as well as hybrid and electric vehicles. The profitability of this sector was also largely supported by the sale of used cars.

In 2021 and the first nine months of this year, Autohellas net investment in the expansion and quality renewal of the fleet amounted to 202 million euros.

Leases through seven Autohellas subsidiaries abroad showed a 7% increase in turnover to 51.3 million euros due to a lesser recovery in tourism demand in the Balkan countries. However, limiting operating costs helped the sector also post a significant improvement in profitability.

One of the most important developments in nine months for Autohellas was the agreement signed in early October to acquire the Portuguese company HR Aluguer de Automoveis (HR), Hertz International’s franchisee in Portugal. This activity is not included in the nine months results and will only be consolidated in the fourth quarter of the Autohellas group. From 2023, this acquisition is projected to double the group’s international operations each year.

The automotive trade sector and mainly the import and distribution division (Hyundai, Kia, Seat) showed a turnover increase of 14.5%, resulting in a total turnover of around 322 million euros. Accordingly, the contribution to the operating result of the group, whose aggregate share in the classifications reached 15%, was significant. Autohellas also announced with Samelet that it has entered into an agreement to acquire the local subsidiary of the Stellantis Group in Greece (FCA Greece) to import and distribute Alfa Romeo, Abarth, Fiat, Fiat Professional and Jeep vehicles. The completion of this acquisition is subject to the approval of the Competition Commission.

It is noted that the listed company, approved by the extraordinary general meeting in mid-October, will begin returning capital of 1 euro per share to shareholders on December 9, paying a total of about 49 million euros.