Fleet News

Europcar buoyant after profits leap

PROFITS more than doubled at Europcar UK last year as the company set its sights on becoming the number one rental operator throughout Europe.

Pre-tax profits leapt to £6.5 million in 2004 as the company consolidated on a number of business wins that reflected growing demand for its services throughout the Continent.

Salvatore Catania, chief executive officer of Europcar International, put the massive growth down to the quality of the firm’s services and staff, its mix of corporate and franchised sites and a focus in innovation and quality.

Unveiling the firm’s annual results in Paris, he said: ‘In the past few years, the UK has shown good development and innovation in terms of quality and services.

‘Across Europe, we have once again achieved the aim that we set ourselves some years ago, to be the most profitable car hire company in the European market.

‘But what makes us really proud is that these results have not been achieved at the expense of the development of the business.’

Globally, the firm revealed pre-tax profits were €83.9 million last year, a rise of 16% on 2003, while turnover was up 6% to €1,172 million.

Catania added: ‘Becoming the European leader in our sector is not an end in itself. It is the consequence of a global strategy.

‘We are concentrating all our efforts on gradually becoming the market leader in every single country in which we are present.

‘Based on profit and quality of service, we are now market leaders in Spain, in Portugal and in Italy and we are continuing to make headway in France, where we are now in second place.

‘Our aim is to reinforce our leading position in each and every country in order to consolidate our position as Number One in Europe as a whole.’

Leave a comment for your chance to win £20 of John Lewis vouchers.

Every issue of Fleet News the editor picks his favourite comment from the past two weeks – get involved for your chance to appear in print and win!

Login to comment

Comments

No comments have been made yet.

Compare costs of your company cars

Looking to acquire new vehicles? Check how much they'll cost to run with our Car Running Cost calculator.

What is your BIK car tax liability?

The Fleet News car tax calculator lets you work out tax costs for both employer and employee