39% Increase in EAT to a level of € 31.6m.
Autohellas reports 2017 FY financial results with consolidated Group revenue at €340.6m, increased by 28.6% compared to €264.8m in 2016.
Revenue from the Group’s core business, car rentals, in Greece and International increased by 17% in 2017, achieving the highest growth rate of the last 10 years and reaching €180 million up from €154 million in 2016. Fleet used car disposals reached €39.4m increased by 23%. Profit contribution from the overall Rental activity in Greece and International continues to comprise more than 90% of the total operating profit of the Group.
Car trade contributed €121.5m in revenues as the Greek market gradually recovers from its historical lows. It is important to note that consolidated revenue and profits were not affected by the acquisition of “AUTODEAL S.A.” (ΚΙΑ) and “HYUNDAI HELLAS” (HYUNDAI) on 22/12/2017. Due to end December acquisition both entities were consolidated at balance sheet level on 31/12/2017.
Earnings before interest, tax, depreciation and amortization (EBITDA) increased by 14.3%, reaching €119.3m while earnings before interest and tax (ΕΒΙΤ) increased by 29.3%, reaching €54m. Finally, as a result of the exceptional momentum of the Group’s operations consolidated earnings after tax (ΕΑΤ) increased significantly by 39.4% and reached €31.6m. from €22.7m in 2016.
During 2017 the Group executed a net investment of €110M, purchasing 11,000 vehicles in order to both support growth in the 8 countries it operates and to enhance the quality of its product offering. Within this amount, €68m was allocated to fleet expansion, mainly due to the substantial increase of 3,700 contract vehicles under long term lease with corporate customers. Following this investment, aggregate fleet in all 8 countries exceeded 40,500 cars during the peak summer months, representing a new record for the company.
Revenue from car rentals in Greece increased by 15.8% in 2017, reaching €134.7m and continues to generate 70% of the Group’s overall operating profitability. For 2017 both short-term tourism related rentals as well as long-term corporate lease contracts grew at similar rates. In short-term rentals, the company leveraged its exceptional network and took advantage of the increase in Tourism Arrivals, improved its product offering with new car categories and models and succeeded to increase its fleet utilization and unit revenues achieving significant growth with a minimal fleet expansion. In the long term rental sector comprised of contracts with a tenor of 3-5 years, the company achieved its best performance since the beginning of the crisis expanding its contracted fleet by nearly 3,000 contract cars and adding hundreds of new corporate customers.
In International Rental activity the Group’s growth rate was equally strong at 18%, with car rental revenue reaching €45.1m and reaching a contribution of 27.5% to Group’s total operating profitability. Cyprus and Croatia short term rental growth performance should be highlighted with Croatia a recent 2016 addition to the Group’s portfolio quickly becoming the largest short term rental market, for the Group outside Greece. Bulgaria and Romania subsidiaries are now of significant size and maturity in contribution to the Group’s profitability, while Serbia and Montenegro are also enjoying positive growth rates.
CONSOLIDATED RESULTS HIGHLIGHTS:
Autohellas CEO, Eftichios Vassilakis stated: “AutoHellas achieved a significant improvement in consolidated Group profit and a record fleet level in excess of 40,000 vehicles. Sources of growth were well balanced between short-term rentals and long-term contract corporate rentals. As our international activity matures, its contribution to profit and revenue also stabilizes. Increased volume enhances economies of scale, particularly in Greece, and allows us to best leverage the quality or our network and personnel to reduce unit costs and support profitability even with intensifying competition. Our own capabilities coupled with positive Macroeconomic conditions in most countries that we are active, should allow us to further pursue a prudent rate of growth in both sectors of the car rental business in Greece and abroad.
Finally, car trade, our new business segment in Greece to which two significant brand additions were made in late December 2017, is expected to have an initially small but gradually increasing, contribution to Group profitability in the years to come”.
We are Autohellas Tourist and Trading Societe Anonyme and its subsidiaries operating under the Hertz, Thrifty, Dollar, Firefly and Hertz Operating Lease brands (together “we”, “us”, and “our”). This policy does not cover our affiliates or other third parties through whom you may interact with us. This is a high level summary to explain how we collect, processes, store and otherwise use information about you and your rights in relation to that information. For full information, please see the full policy below.
|SHARING||RETENTION & SECURITY|
|YOUR RIGHTS||QUESTIONS & CHANGES|
We are the Greek Company Autohellas Tourist and Trading Societe Anonyme, official franchisee of Hertz International for Greece and other seven (7) countries in which we are running business activities through our subsidiaries, as shown in the following table. Our activities include between others:
The commercial brands that we use are Hertz, Thrifty, Dollar, Firefly and Hertz Operating Lease (together “we”, “us”, and “our”).
|1||Autohellas Tourist and Trading Societe Anonyme||Greece||GR|
|2||Autotechnica Hellas S.A.||Greece||GR|
|3||Autotechnica (Cyprus) Ltd.||Cyprus||CY|
|5||Autotechnica Fleet Services SRL||Romania||RO|
|6||Autotechnica Serbia DOO||Serbia||RS|
|7||Autotechnica Montenegro DOO||Montenegro||ME|
|9||Autotechnica Fleet Services LLC||Ukraine||UA|
This Policy covers the information we collect about you in connection with the abovementioned business activities, which identifies, or can be used to identify, directly or indirectly, you as an individual (“Personal Data”). It does not apply to information that cannot reasonably identify you. For example, but without limitation, aggregated anonymous data are not Personal Data.
We respect the privacy rights of our customers and are committed to protecting your privacy. This Policy explains our data handling practices with regard to your Personal Data, as well as your rights associated with that data.
We collect Personal Data that you provide during the execution of our services, on our websites, on third-party websites, on applications that we use in order to provide our services, in connection with any inquiries, reservations, rentals or purchases you make in relation to our services. We may collect your Personal Data directly or through our service providers, our subsidiaries, our franchisor, business partners and booking channel providers. For further details, see below:
1.Α. TYPES OF INFORMATION COLLECTED may include, but are not limited to:
We may collect certain Personal Data that constitutes sensitive data in some countries, such as (indicatively but not limited to):
1.Β. METHODS AND SOURCES OF COLLECTION may include, but are not limited to:
Generally, our cookies may perform the following functions:
|Essential cookies||Some cookies are vital to the operation of our websites. Without them you will not be able to navigate in the web site and to use some of its features. The basic cookies allow smooth transition from page to page on the site and are absolutely necessary for its appropriate functioning.|
|Functionality cookies||We do not use functionality cookies and we cannot remember your preferences and selections you have requested in previous visits to our sites.|
|Performance cookies||We use performance cookies to analyse how our visitors use our websites and to monitor website performance. This allows us to provide a high quality experience by customising our offering and quickly identifying and fixing any issues that arise. These cookies don’t collect information that identifies a visitor. All information collected is aggregated and therefore anonymous and is only used to improve how our website works.|
|Third Party cookies||Third party cookies are set by a different organisation to Hertz. For example, our websites may contain content embedded from, for example, YouTube, and banners delivered for Hertz through an advertising partner’s network. These sites may set their own cookies which are beyond of our control.|
Our websites are not directed to individuals under the age of 13 and we do not knowingly obtain Personal Data from such individuals.
Depending on the purposes for which we collect and use your Personal Data, as set out in this Policy, the Personal Data we collect from you may be required due to a statutory or contractual obligation, or provided by you on a voluntary basis, or necessary for us to enter into a contract with you and provide you with our services. If you do not provide your Personal Data to us we may not be able to provide the requested services (renting, leasing, maintenance, sales etc.).
Below we have set out the various purposes for which we process your Personal Data. We have also set out the legal grounds for the processing of your Personal Data for each purpose:
2.1. OPERATIONS AND SERVICES: We may use your Personal Data to provide you with the services or products you request from us and to perform other activities related to such services or products, including billing and collection following a rental or leasing, or to communicate with you regarding:
Legal grounds: to perform our contract with you or to take steps at your request prior to entering into a contract with you.
2.2. OUR MARKETING: With your consent, we may use your Personal Data to provide you with marketing information, customer satisfaction or services assessment surveys, special offers and promotions via various means, including e-mail and SMS messages, in accordance with applicable law.
Legal grounds: on the basis of your consent. However, where permitted by applicable law we may lawfully use your Personal Data to send you such marketing communications (including via email) for these marketing purposes where necessary for our legitimate interests, which include promoting our products and services, special offers and promotions which may be of interest to you.
You can unsubscribe from receiving such messages at any time by contacting us at the details at Section 6 below as well as by the unsubscribe link in each e-mail message. Please note that if you exercise these choices, you will continue to receive communications concerning your account and products and services you requested, and in response to any requests for information by you. Please also note that this unsubscribe process may take some time to complete, consistent with applicable law.
2.3. THIRD PARTY MARKETING: We may also share your Personal Data with a sponsor or other third party that provides you with special offers or promotions that may be of interest to you (“Third Party Provider”) where permitted.
Legal grounds: on the basis of your consent. You may instruct us at any time not to share your Personal Data covered by this Policy with such Third Party Providers where you have previously consented.
2.4. NORMAL COURSE OF BUSINESS: We may also process your Personal Data and other information if such processing is necessary:
2.5. WEBSITES: If you use our websites we may process your Personal Data as follows:
We are not responsible for the information that you or others choose to disclose publicly and such information is not subject to this Policy.
3.Α. THIRD PARTY COMPANIES
We may share your Personal Data with third parties in the following circumstances:
3.Α.1. To provide services to you: We will share your personal data among ourselves, our agents, our licensees and other companies to provide services to you, including among others
3.Α.2. Disclosure to companies you use: We will also share your information with companies you use in connection with your rental, including:
3.Α.3. Protective and legal uses: We may use, share and disclose your personal data for legal reasons as we believe necessary or appropriate, including among others to:
3.Α.4. Disclosure to our service providers and agents: We may use other companies as our service providers or agents to act on our behalf and assist us in the conduct of our business, performing services for us under our instruction. These services may include hosting certain websites or databases, operating “apps” for us on our social media networks’ pages, running contests, sweepstakes and other promotions for us, sending marketing communications, carrying out data analysis and conducting customer satisfaction surveys or other researches. We will always require our service providers and agents to maintain appropriate security standards to protect your personal data and use the personal data we provide to them only for the purposes we specify and according to law.
3.Α.5. Disclosure for corporate transactions: We may disclose your personal data to a third party in connection with any contemplated or actual reorganization, merger, sale, joint venture, assignment, transfer or other disposition of all or any portion of our business, assets or stock (including in connection with any bankruptcy or similar proceedings).
3.Β. INTERNATIONAL TRANSFERS
Some of the uses and disclosures mentioned in this Policy may involve the transfer of your Personal Data to various countries around the world that may have different levels of privacy protection than your country of residence or interaction with us, such as when you request rental services to be provided to you in a country outside the European Union (“EU”).
Where our transfer of your data is necessary to provide rental services requested by you, the legal basis for the transfer is the contractual necessity of the transfer, and your Personal Data will be processed by the company providing the services you requested in accordance with applicable local law and the relevant bi-country agreements.
Where we transfer your Personal Data to a third party outside the European Union and no legal basis applies, such as where we transfer the data to a company processing it to our instruction to enable us to provide our services, we will ensure that the required safeguards are in place for the transfer.
4.Α. DATA RETENTION
We retain personal data about our customers for as long as necessary for the purposes for which it was collected, or unless otherwise allowed or required by you or by law. We collect Personal Data for a number of purposes (see above) and may be required to retain it for legal (including tax, civil or other legal regulations) reasons for a period which is longer than the time we need or use the data for the purpose of providing our rental services to you. We maintain a data retention policy to cover all the Personal Data we retain across our systems. If you have any questions about the retention period applying to the Personal Data we collect about you, please contact us (see Section 6).
4.B. SECURITY MEASURES
Information is stored and accessed in various locations, including cloud services. Servers which store information are primarily located in Greece, Europe and the United States, although storage may occur in other locations as well. We use reasonable administrative, technical, personnel, and physical measures (a) to safeguard Personal Data against loss, theft, unauthorized use, disclosure, or modification; and (b) to ensure the integrity of your Personal Data. To help us protect your privacy, you should maintain the secrecy of any logon IDs and passwords, Member numbers, or other identifiers or credentials you may have set up or were provided with in connection with your participation in or use of our products, services, or websites.
As you may be aware, there is no completely secure method of transmitting or storing data. Although their physical characteristics are different, postal mail, telephone calls, text messages, faxes and transmissions over the Internet or wireless networks all present possibilities of loss, misrouting, interception and misuse of the data that is transmitted. If you have reason to believe that any account with us is no longer secure, you must immediately contact us.
We try to strike a balance between the security of your data and your convenience. As a result, we may sometimes use a method of communication that is less secure than a less convenient alternative. For example, but not limitation, we may send you an e-mail or a text message in unencrypted form (i.e. instantly readable) because many of our customers are unable to access encrypted (i.e. coded) e-mail or messages. This means that our message, if misrouted or intercepted, could be read more easily than encrypted messages. Such messages may contain Personal Data. Please do not include confidential information, such as your credit card number or account passwords, in any e-mail or text you send to us or on any posting you make to a public area of a third-party social network page, especially since any such posting immediately becomes public. For a more secure way to communicate with us over the Internet, please click on the “Contact Us” link on any of our websites.
5.Α. You have all the rights according the provisions of the law. Especially, you have the right to request access to, review, and update your Personal Data covered by this Policy, and can request this by contacting us at the details set out in Section 6 below. While we will make reasonable efforts to accommodate your request, we also reserve the right to impose certain restrictions and requirements on such access requests, if allowed or required by applicable laws. If you are a member of one of our membership or rewards programs, you may update the information in your member profile by logging into your applicable member profile.
5.B. Among others, you also have the right to:
5.C. In addition, where we process your Personal Data on the basis of your consent, you can withdraw that consent at any time.
You can make a request to us to exercise any of these rights by contacting us as set out in Section 6 below.
6.Α. CONTACT US: We do business in many countries and aim to comply with the privacy laws applicable to the Personal Data we collect and use. Should you have a concern or request about our handling of your Personal Data, you may contact us directly via the methods described below. We will work to respond and resolve your complaints in an expeditious manner. You also have the right to lodge a complaint with a competent data protection supervisory authority in your jurisdiction.
Please contact us by emailing at firstname.lastname@example.org or writing to the address below if you have any questions, wish to exercise your rights of access, or seek other assistance as described above.
General Data Protection Regulation
Autohellas Tourist and Trading Societe Anonyme
31 Viltanioti Str., Kifissia
6.Β. CHANGES: We reserve the right to change this Policy at any time for any reason by posting revisions on this webpage or on applicable apps or other sites. Such changes will be effective upon posting, but will not apply retroactively.