Europcar is about to start its journey towards the Stock Exchange. The European number one in car rental has given a mandate to the Rothschild bank to study the option, according to some sources reported exclusively by the French newspaper Les Echos.
Last year the group, controlled by the French of Eurazeo, greatly improved its fundamentals. In a recovering market, Europcar saw its EBITDA rise by 31,5% to €157 million. After a decline between 2010 and 2011 to 92 million euros, the growth has been uninterrupted.
In parallel, the rental company reduced its level of debt, from about 5 times its Ebitda to just over 3 times. The group is reaping the benefits of its margin improvement program in a still fragile market.
