The Autohellas Group announces its financial results for the first quarter of 2026, with revenue totaling €220.9 million, representing a 2% increase compared to the first quarter of 2025.
EBITDA stood at €51.6 million, up 5.8%, while net income amounted to a loss of €0.6 million compared to a profit of €1 million in the first quarter of 2025.
The decline in net profitability, in the first quarter—which is traditionally weak due to seasonality—primarily reflects increased depreciation and amortization related to ongoing investment activity and fleet expansion.
The Group’s equity as of March 31, 2026 stood at €555.5 million. Despite the uncertainty caused by the geopolitical situation in the Middle East, the positive trend in tourist arrivals in Greece during the first quarter of the year points to positive expectations for the coming period, a factor that will contribute to a corresponding growth rate in short-term rentals.
At the same time, the long-term rental sector maintains its strong growth trajectory in a highly competitive environment, as the provision of comprehensive management and support services for rental cars, even by small leasing companies, is becoming the preferred choice for corporate and private customers.
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Analysis by sector:
Car Leasing in Greece (Hertz)
The Car Rental business in Greece continued its strong performance, with revenue increasing by 7.3% in the first quarter of 2026, reaching €63.1 million. The improved performance is attributed to continued strong demand from both corporate customers and the extended tourist season. Despite the positive revenue trend, profitability was impacted by increased depreciation, resulting from fleet expansion in previous years, a factor that supports the future growth of the business.
International Car Rental Operations (Hertz)
Revenue from International Car Rental Operations amounted to €37.6 million compared to €31.8 million in the first quarter of 2025, marking an increase of 18.3%.
This growth stemmed primarily from Portugal, where a significant increase in revenue (+39%) was recorded from both leasing and used fleet sales, leading to an improvement in EBITDA. Despite the improvement, net profit results remain negative, mainly due to increased depreciation following a plan for continuous fleet renewal and upgrading.
In the Balkan and Cyprus markets, the Group showed a stable performance compared to the first quarter of last year, with a modest increase in revenue (+5%) and profitability maintained at the EBIT and pre-tax levels.
Automotive Sales and Services
During the first quarter of 2026, the Car Sales and Services business in Greece saw a 4.6% decline in revenue, contributing a total of €120.2 million to the Group’s revenue.
It should be noted that the operations of Italian Motion (FIAT/JEEP/Alfa Romeo), which is not included in the Consolidated Revenue (equity method), recorded sales of €35.2 million in the first quarter of 2026, further strengthening the Group’s overall commercial activity.
In addition, in May 2026, the Group announced the launch of Chery Group’s new Lepas brand in the Greek market through Italian Motion, a development that reinforces the strategy of expanding the portfolio and creates additional growth prospects for the Group’s Retail Division.