Last Updated on November 5, 2022 by admin
The company has appointed Rothschild & Co as advisors to assist with the review process. Rothschild & Co will be working with the management team to provide support and advice on all aspects of the review.
The announcement of the review comes after a difficult year for Europcar, in which the company has been hit hard by the Covid-19 pandemic. As a result of travel restrictions and a reduction in demand, Europcar’s revenues were down by 41.5% in Q2 2022 compared to the same period last year. The company also recorded a €48 million net loss during the quarter.
Despite the challenges posed by Covid-19, Europcar remains focused on its long-term goal of becoming the leading player in global mobility solutions. The company is confident that this review will help it to achieve this goal by improving efficiency and reducing costs.
Update: 28/11/20 – Europcar has now released its Q3 results, which show a continued decline in revenue and profitability due to Covid-19. However, the company’s Chief Executive Officer, Greg Taylor, remains confident that Europcar is well-positioned to weather the current storm and emerge as a stronger business in the long term.