AUTOHELLAS HERTZ: FIRST SEMESTER SHOWS MARGINAL DECREASE IN TURNOVER DESPITE ECONOMIC AND TOURISM INDUSTRY CRISIS.
A marginal decrease in turnover reported Autohellas/Hertz for the first semester of 2010, despite the economic and tourism industry crisis. In more detail, consolidated turnover reached €77.3mill from €79.6mill in 2009 Q2, a reduction of 2.8%.
Consolidated earnings after tax and minority rights reached €4.3mill from €6.9mill in last year's respective period. Main reason for this reduction was the 1.5mill extraordinary levy imposed on 2009 earnings, as well as the increase of financial cost by €1mill.
Earnings before tax, depreciation and financial results (EBITDA) remained in 2009 levels at €37.2mill from €37.6mill in last year?s first semester.
Autohellas Hertz as a parent company reported earnings after tax of €2mill from €4.7mill with earnings before tax, depreciation and financial results (EBITDA) reaching €30.9mill from €31.1mill last year.
It is worth mentioning that the group's Net Worth is now €114mill, while cash reserves stand at €59mill (from €42mill at the end of Q2 in 2009), thus ensuring the unhindered financing for the company's activities during this current economic crisis.
With the addition of Serbia, Autohellas now operates in 4 foreign countries, Bulgaria, Romania, Cyprus and Serbia. During the last couple of years the company has been following a moderate growth plan with consistency, taking into account the economic difficulties under which all Balkan countries operate.
Finally, the dividend paid to shareholders for 2009 fiscal year was €0.12 per share.