AUTOHELLAS HERTZ: INCREASE IN TURNOVER BY 12.2% IN 2008 WITH EARNINGS DECREASING BY 13.8%
An increase in its turnover reported Autohellas/Hertz for 2008. More specifically, consolidated turnover reached euro 142.5mill from euro 127mill last year, an increase of 12.2%.Consolidated turnover includes also the activity of the company's subsidiaries in Cyprus, Bulgaria and Romania.
Earnings before tax, depreciation, financial and investment results were euro 80.7mill from 75.1mill in 2007, reporting an increase of 7.5%, with earnings after tax and minority rights reaching euro 13.5mill from euro 15.6mill last year a decrease of 13.8%. Main reason for this reduction was the increased loan cost and the valuation of financial derivatives, at a total of euro 7.5mill.
Autohellas-Hertz, as a parent company, increased its revenues by 7.3% at euro 124.1mill. from euro 115.7mill, with earnings before tax, depreciation, financial and investment results reaching euro 72.8mill from euro 69.8mill., an increase of 4.3%.
It worth mentioning that 72% of the company?s total turnover comes from long term rentals into over 3,000 companies operating in Greece, with an average duration of 4 years, while only 28% came from short-term highly seasonable rentals.
The group's net worth after the share capital return is now at euro 105.4mill. The capital return that was decided by the extraordinary shareholders meeting in February 2008 and was concluded in May, amounted a total of euro 47.3mill or euro 1.3 per share paid in cash to the company's shareholders.
Finally, the proposed to the General Shareholders Meeting dividend for 2008 will be 0.12 euro per share.