Last updated: 01:28 PM ET, Mon March 23 2015

Europcar Group Reports Revenue Growth in 2014

Car Rental & Rail | Donald Wood | March 23, 2015

Europcar Group Reports Revenue Growth in 2014

There are many popular car rental companies in Europe, but France-based Europcar continues to thrive, as it is reporting a 3.4 percent increase in revenue for last year.

According to a press release from Europcar, the company is reporting growth from 1.914 billion euros in 2013 to 1.979 billion euros in 2014. It also claims its corporate EBITDA jumped an incredible 35.3 percent in 2014, soaring from 15.73 billion euros in 2013 to 21.28 billion euros this year.

The company is also reporting growth in rental days volume (a 4.1 percent increase), but average revenue per day was down by 0.8 percent. Europcar’s fleet of cars also increased in 2014, jumping from 183,594 vehicles in 2013 to 189,269 last year.

Europcar Group chief executive officer Philippe Germond spoke via the press release about what the improvements and development across Europe means to the company:

“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. 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.”

The expansion of Europcar this year also featured the purchase of a majority stake in carsharing company Ubeeqo, which has helped with the development of the brand on mobile platforms.

Europcar is reporting that the growth was aided by the development of the company’s presence on mobile platforms, rebuilt partnerships with corporate consumers and southern European countries experiencing a positive trend in leisure rentals.

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