Autohellas turnover records 23.5% rise in Q2

Athens-listed Autohellas on Wednesday reported a 23.5% increase in its second-quarter turnover to 255.2 million euros from €206.6 million in the same period last year.

Operating earnings also rose 23.5% to €38.9 million, pre-tax earnings rose 10.4% to €29.8 million and after-tax earnings rose 11.2% to €23.8 million.

In the first half of 2023, consolidated turnover rose 35.7% to €476.8 million, operating earnings rose 25.6% to €56.5 million, pre-tax earnings rose 8.2% to €40.1 million and after-tax earnings rose 6.1% to €31.2 million.

Autohellas said the new franchise activity by Hertz in Portugal, which was acquired in the fourth quarter of 2022, contributed €41.1 million to the group’s turnover, but did not have a significant impact on pre-tax earnings since this activity was exclusively seasonal.

The group’s fleet for short- and long-term leasing was 55,000 cars.

Turnover from car leasing in Greece grew 11.7% in the first half of 2023 to €114.6 million, while car import/distribution activities reported a 30.4% increase in turnover, totaling €285.6 million.