An increase of 13.6% in profits after tax and minority rights reported Autohellas - Hertz in 2006, reaching Euro 18 mil from Euro 15.9 mil in 2005. Consolidated turnover reached Euro 116.9 mill. from Euro 107.5 mill in 2005, an increase of 8.6%, while earnings before tax, financial activities, investment activities and depreciations reached Euro 69.1 mill from Euro 61 mill in 2005.
The unamortized fleet value at the end of the 2006, was at Euro 200 mill, while total investment for fleet renewal and fleet expansion for the full year reached Euro 114 mill. Autohellas - Hertz has managed to maintain once again its leading position in the market, with 26,800 vehicles under its management from 8,500 in 1999.
The continuous growth during recent years allows Autohellas-Hertz to sustain a high dividend yield, with the proposed dividend to the General Meeting of Shareholders for the year 2006 being Euro 0.25 per share.
Year 2006 was the first fully operational year for Autohellas in Cyprus, while from the beginning of 2007, a new company has been established in Romania as a Hertz franchisee operating in the Fleet Management sector. Since a certain period is required for the growth of those new developments, they are expected to contribute to the company?s results from 2008 onwards.