Autonom Services reports in the first semester a net profit up 42% compared to S1 2021

Deniza Cristian 31/08/2022 | 14:31

Autonom Services SA, the most extensive mobility network in Romania, ends the first semester of 2022 with double-digit growth results on all main business lines. The company recorded total revenues of 239.8 million lei (35% increase) and a net profit of 17.8 million lei (up 42%), compared to the same period last year.

 

Also, assets increased by 38.1% from December 31, 2021, reaching a total value of 1.3 billion at the end of June.

„The first half of this year came with macroeconomic turbulence and runaway inflation, generated by the pandemic’s overlap with disrupted supply chains and a complicated regional geopolitical situation marked by political instability and military confrontations. All this continued to test our resilience and ability to develop our businesses in an increasingly volatile environment. Autonom has an advantage due to the trained ability to work with multiple scenarios, accompanied by very quick decisions and a high implementation speed, characteristic of entrepreneurial businesses. The capital raised through the bond issue at the end of last year put us in a very good financial position, and allowed us to take important steps in the transition to green fleets and to continue investing for the development of the company, capitalizing on the opportunities that appeared in the market,” said Dan Ștefan, co-founder of Autonom.

The results of Autonom Services include the performance of the main business lines: operational leasing, car rentals and used car sales. The revenue of the operational leasing division increased by 42% in the analyzed period, generating a turnover of 128 million lei.

In April, Autonom announced the completion of the acquisition of Țiriac Operating Lease (Premium Leasing SRL), a business with annual revenues of EUR 19.3 million, assets worth EUR 48.9 million and a fleet of over 2,600 cars. With this step, Autonom has strengthened its position on the market and is currently awaiting the decision of the authorities for the merger, the operational integration having already been completed.

At the end of June, Autonom operated a total fleet of 10,925 cars under operational leasing, up 51% compared to December 31, 2021.

As for the car rental division, the company recorded an occupancy rate of over 89% and a 54% increase in revenues, reaching 41.6 million lei, an advance determined by the increase in demand with the resumption of travel, as well as as well as the development of the car sharing service. In the first 6 months of the year, the rental fleet reached 2,510 units, compared to 2,439 cars registered on December 31, 2021.

The results of the used car sales division registered a 14% increase compared to the first semester of 2021, generating revenues of 41.5 million lei. The increase in sales values ​​of used cars had a significant impact on the results of this semester, and this aspect, with a direct impact on profitability, will be seen even better in the next period.

Autonom’s results are proof that our business model is still agile and sustainable, and we believe we are well positioned to be able to focus on turning challenges into opportunities for growth and development. In the coming period we aim to strengthen our position in the markets in which we operate and we will continue to invest, both in the organic growth of the company, as well as in the acquisition of companies compatible with our group, in order to continue the development and preparation of the group for the economy of the future,added Marius Stefan, co-founder of Autonom.

In recent months, the company has taken important steps to attract new financing to accelerate the transition to a zero-emission operational fleet, this time with the European Investment Bank (EIB). Currently, the Bank evaluates the co-financing of the project with 15 million euros, its total value being 32 million euros.

The report on the results recorded in the first 6 months of this year can be consulted in full here: https://www.autonom.ro/investitori.

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