Europcar Kicks Off 2015 with Profitable First Quarter
While Europcar is already known for its dominance in the European market, the global expansion of the brand has helped the company report its fourth consecutive quarter of increased revenue.
According to a report from Reuters, the first quarter of 2015 was yet another profitable period, earning the company $438.56 million (€413.7 million), a 6.2 percent jump from the first quarter of 2014, excluding exchange rates.
As previously reported, Europcar had a great 2014 in terms of growth, and the success has carried over into 2015 with yet another profitable quarter. The success is also expected to continue, as officials for the company told Reuters that the expectations for growth will continue in 2015, 2016 and 2017.
The growth over the next three years is expected to be about three to five percent each year and should help Europcar continue making its mark on the global economy and on the car rental industry.
The report also claims that Europcar’s adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) is estimated to total around $259.88 million (€245 million) in 2015.
Europcar had a solid growth margin in 2014 over 2013—the company reported €1.914 billion in 2013 to €1.979 billion in 2014—and the success thus far in 2015 has the company on the trajectory to have another banner year.
Add in the company’s estimate that the EBITDA margin should reach 13 percent by 2017, and the growth of Europcar in 2014 and the continuation of the momentum in 2015 is great sign for the future of the car rental business.
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