Autohellas announces the results for the third quarter of the year, with extremely significant momentum both in terms of turnover and profitability. More specifically, in the third quarter the turnover amounted to € 177.1m compared to € 149.2m in the respective period of 2020 showing an increase of 18.8%. Operating profit (EBIT) doubled to € 40.8m compared to € 20.5m in 2020. Earnings after tax (EAT) amounted to € 29.5m compared to € 12.1m recording an increase of 143% compared to the third quarter of last year.
The nine months of 2021 depict an increase of 34.8% in terms of consolidated turnover that amounted to € 485.9m compared to € 360.6m in last year. The operating profit (EBIT) for the nine months amounted to € 69.6m compared to € 31m in 2020, recording an increase of 124.5% and the earnings after tax (EAT) of the Group for the nine months of 2021 amounted to € 46.4m compared to € 13.2m, an increase of 251% compared to last year.
It is worth noting that despite the lockdown of the first 4 months of the year and the delayed restart of tourism from the beginning of June, AUTOHELLAS’ turnover and profitability for the nine months and especially for the third quarter were higher than the respective ones for the pre-pandemic record year for tourism 2019, in all aspects.
More specifically, the turnover from the Group’s activity in car rentals in Greece increased in the nine months of 2021 by 23% and reached € 156m from € 126.8m in 2020. It is particularly important that in addition to the long-term leasing that supported the company even during a (weak in tourism perspective) 2020, the activity of short-term rentals, mainly tourism related rentals, for the third quarter of the year was more than double the turnover of the corresponding 2020, but also higher than the record year for tourism, 2019. The company exceeded the turnover levels of 2019, having invested timely in almost 4,000 new cars for the short-term rental fleet, of which 150 electric, gaining significant market share in all main tourism areas of the country, in which it has also recently upgraded its infrastructure. Respectively, the international activity related to car rentals, had a turnover of € 48.9m., recording an increase of 27.1%.
In total, fleet employed for short-term and long-term rentals reached 47,000 cars with a total of 9,650 new car purchases. At the same time, the used cars sales coming from the rental activity reached 5,850 units. The net investment of the Group (purchases minus sales) reached € 107m.
The car trade (wholesale and retail) also had excellent momentum in both the quarter and the nine-month period, surpassing the performance of both 2020 and 2019, despite the significant (logistics and components) problems and delays faced by manufacturers in production, with sales of a total of 18,000 cars from just 10,100 in 2020 and with a significant contribution to the profitability of the Group. The turnover of the car trade reached € 281m in the nine-month period recording an increase of 44% from the respective period of 2020.
The 3 importing companies (wholesale) of the Group (Hyundai, Kia, Seat) expanded their cumulative market share reaching 15%, while at the same time having a significantly higher performance in market share of individuals (i.e. excluding corporate fleets). At the same time, the performance of Autotechnica / Velmar in Retail and after sales services was particularly satisfactory. It is important to note that all four car trade companies of the Group now operate with zero net debt.
The above table does not include amounts of € 11.7m., € 12.7m and € 12.3m as at 30.09.2021, 30.06.2021 and 31.12.2020 respectively concerning liabilities from leases that are classified as operating.
With the support of profitability momentum and cash flows from all activities (EBITDA 9M2021: €139m.), and despite the increased investment in fleet, net debt (debt minus cash) at a consolidated Group level, decreased in the third quarter 2021 reaching € 337.3m as at 30/9/2021. At the same time, the equity of the Group strengthened, reaching € 312.8m from € 273m as at 31/12/2020.
It is important to note that the Debt / Equity ratio of Autohellas is the strongest compared to all listed companies in the industry in Europe. Finally, the available liquidity after the completion of the agreement with JP Morgan reached 150m in the 9 months, a significant part of which was allocated in October for the early repayment of older loan agreements with a higher cost.
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.