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Investment > Private equity > Europcar
Europcar    | http://www.europcar.com
France - Investment: €663 million*, 85.1%
* After syndication to Eurazeo Partners.

Europcar
| Description | Presentations |
Press releases

 28/06/2010 Successful Placement of €250m Senior Secured Notes
 21/06/2010 Launch of €250 m Senior Secured Notes Offering
 31/05/2010 1st Quarter 2010 Results
 18/03/2010 New CEO named
 10/11/2009 Named World's leading car rental company
 01/04/2009 2008 Results
 11/12/2008 First Nine Months 2008 Results
 11/12/2008 First Nine Months 2008 Results
 04/12/2008 Europcar is first company to be awarded World's Leading Green Transport Solution Company at the World Travel Awards
 09/09/2008 1st Half 2008 Results
 04/09/2008 Strategic alliance with Enterprise
 26/05/2008 Closing of the acquisition of ECA Car Rental
 28/04/2008 Acquisition of ECA Car Rental, the Asia-Pacific Master Franchisee
 13/02/2008 Opening for business in Beijing in advance of the Olympic Games
 05/02/2008 Agreement with All Nippon Airways
 30/08/2007 Europcar : 1st Half 2007 results
 18/05/2007 Europcar : signing for the purchase of Betacar
 21/03/2007 Europcar : 2006 Results
 01/03/2007 Europcar finalizes the acquisition of the European businesses and enters transatlantic alliance with Vanguard
 13/11/2006 Major strategic transaction for Europcar : acquisition of the European businesses and signing of a transatlantic alliance with Vanguard (National Car Rental – Alamo Rent A Car)
 26/09/2006 Europcar: Sustained growth in revenues, up 14.6 per cent in first half of 2006
 30/06/2006 Europcar completes acquisition of Keddy Car & Truck Rental in Belgium
 01/06/2006 Eurazeo closes €3billion Europcar acquisition
 01/06/2006 Europcar in exclusive negotiations with LeasePlan Corporation to acquire Keddy – the leading car rental outfit in Belgium
 03/05/2006 Eurazeo gets green light from the competition authorities for Europcar acquisition
 09/03/2006 Eurazeo signs agreement to acquire Europcar, leading european car rental firm, for € 3 billion
 28/02/2006 Eurazeo in exclusive negotiation with Volkswagen to acquire Europcar
europcar
2009 Revenues
€1,851 million, - 10.8 %(1)
(1) At constant consolidation scope and exchange rates.
€213 million in EBIT, - 14.2 %

12,8 % reduction in average net debt during the year (2)
on a comparable basis
(2) Including the notional value of the debt on operating leases for the fleet.
Highlights of 2009
• Strong improvement of operational and financial performance indicators during the year, reflecting the effectiveness of actions taken by the group to adapt to lower demand.

• 16% reduction of average net debt excluding high yield bonds, and increased liquidity.
Economic conditions
Since the end of the summer of 2008, the Group has felt the impact of the worsening economy on demand. Volumes continued to decline in the first quarter of 2009, before stabilizing at roughly the same levels as before the crisis. Underlying demand improved slightly during the third quarter, however, thanks to recreational demand, which is traditionally stronger during the summer.

Moreover, the difficulties the automobile industry is having presented a twofold challenge for Europcar, which is exposed to counterparty risk on receivables for contractual repurchases of vehicles by manufacturers and subject to restrictive conditions regarding full access to its dedicated lines of financing for the fleet, in the event of a severe deterioration of the manufacturers’ financial position.