Mammoth turnover for a car company in Greece


The upward trend of the Greek market has allowed many listed companies to achieve a significant increase in their turnover and profitability…

Thus, in a way, the wounds of the economic crisis are also healed, the recession of which, was four times greater in the Greek companies of the automobile sector, in relation to the average recession of the country’s economy.

Nevertheless these are now a thing of the past with the development that has been created also creating thousands of new jobs. As a matter of fact, unemployment has already officially reached 2009 levels (at 10%) and the decline continues.

As far as the car is concerned almost all the big imports are now profitable.

Growth in new vehicle sales is driving its earnings Autohellas (Hertz, Hyundai, Kia, Seat/Cupra, FCA, etc.) at record levels, with the company’s turnover showing an upward trend.

According to the recently released financial data, 55% of the company’s turnover came from sale of new vehicleswhile the remaining 45% was recorded by the sector of leases and sales of used vehicles.

The company managed to achieve an excellent 34.1% rate increase in its turnover during the nine months of 2023, exceeding 762 million euros.

This positive performance was largely based on a total of 11,600 new car sales, with the company’s short-term and long-term rental fleet reaching now the 57,000 vehicles!

Earnings before taxes and depreciation (EBITDA) of Autohellas reached 214.2 million euros, with an increase of 20.2%. Profit after Tax (EAT) also strengthened, despite the rise in interest rates that affected financial costs, recording an increase of 4.4% and reaching 74.7 million euros.

Particularly noteworthy is the performance of Hyundai, Kia, Seat/Cupraas the turnover from their marketing reached 419 million euros, recording an increase of 30.3%.


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The article is in Greek


Tags: Mammoth turnover car company Greece


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