Paris-based Europcar reported a 3.4% increase in revenue for the full-year 2014 — from 1.914 billion euros in 2013 to 1.979 billion euros.
This growth, across both the leisure and business segments, was supported by development of digital distribution channels (especially on mobile platforms), positive trends for the leisure segment in southern European countries and restored relationships with corporate customers, according to the company.
Europcar reported its corporate EBITDA improved by 35.3% in 2014 compared to 2013 (from 15.73 billion euros in 2013 to 21.28 billion euros in 2014).
“The year 2014 represents a major step forward for Europcar, which now returns to growth, with constant improvements in operating profit margin over the past three years,” said Philippe Germond, chief executive officer of Europcar Group.
“The group is halfway along its transformation plan in a growing European rental market. In this favorable environment, the Group can capitalize upon its strengths to reinforce its growth and seize opportunities linked to the market’s evolution. We must follow through on efforts underway to address even better customer expectations and, in so doing, become our customers’ preferred mobility partner,” Germond added.
Overall, Europcar’s rental days volume increased by 4.1%, according to the company. Average revenue per day (RPD) dipped by 0.8% due to growth in southern European countries, where average RPDs are lower.
At 189,269 vehicles, Europcar reported an increase of 3.1% in its average fleet size in 2014 — from 183,594 vehicles in 2013.
Launched in 2012, Fast Lane, Europcar’s transformation plan, has helped the company lay the foundations for profitable and sustained growth. Initiatives were designed to improve fixed and variable cost structures and revive sales efforts, according to the company.
This year, Europcar announced its acquisition of a majority stake in Ubeeqo, a French startup specializing in carsharing. This acquisition will enable Europcar to increase its mobility offering.