Autohellas to pay 0.85 euro dividend to shareholders

Autohellas Group said its after tax earnings grew 22 pct to 22.7 million euros in 2016, from 18.6 million in 2015. Consolidated turnover jumped to 264.8 million euros last year, from 182.9 million in 2015. The company said its 2016 turnover was not fully comparable with 2015 because of the integration of SEAT car import activities and the car retail sales activities (former Velmar).

Turnover from car leasing activity in Greece and abroad, grew 12 pct in 2016 to 154.3 million euros from 137.9 million in 2015, while EBITDA grew 18.1 pct to 104.3 million euros from 88.1 million in 2015.

The group invested 139 million euros to buy 10,350 new cars raising its car fleet to 35,200 cars, a new historic record for the company.

Eftihios Vasilakis, CEO in Autohellas, said: “We invested in more than 10,000 new cars, with achieved a dynamic growth in the touristic part of our activities (short-tem leasing) and in long-term leasing, despite difficult economic conditions prevailing in Greece. Also, a positive course in seven countries abroad created the prospect of larger results”.

Turnover from car leasing in Greece grew 9.9 pct to 116.1 million euros. Autohellas’ board will seek shareholders’ approval to a plan to pay a 0.85 euro per share dividend to shareholders.