Autohellas: EBITDA rises, revenue flat in nine months

Autohellas Group reported financial results for the third quarter of 2026, with revenue reaching €284.4 million, at a similar level to the corresponding period of 2025. EBITDA came to €107.9 million, up 4.4%, while profit after tax amounted to €40.3 million, an increase of 0.4% compared with the same period last year.

The third quarter, the strongest seasonally, confirmed the momentum in the car rental sector in Greece and the Balkans, which offset the decline in revenue and profitability in vehicle sales.

For the first nine months of 2026, revenue amounted to €785.4 million, at a similar level to the first nine months of 2025. EBITDA came to €237.6 million, an increase of 3.4%, while profit after tax amounted to €68.8 million, down 5.3% compared with the same period a year earlier. Profit after tax attributable to the owners of the parent company came to €65.9 million, down 4.1%.

Across its short- and long-term rental operations in Greece and the other countries where it operates, the group runs a fleet of nearly 69,000 cars, with investment in around 14,000 new vehicles.

The Group’s equity stood at €578 million as at 30 September 2026.

Note:
1. EBITDA: Earnings before tax, financial and investment results, and depreciation and amortisation
2. EBIT: Earnings before tax and financial and investment results

Performance by business segment:

Car Rentals in Greece (Hertz)

The Car Rentals in Greece business continued to perform well in the first nine months of 2026, with revenue rising 5.2% to €256.6 million. Revenue growth was driven mainly by long-term rentals, while short-term rentals, the core of profitability, also maintained positive momentum despite slower growth in visitor numbers to the country and more intense competition.

The high level of fleet renewal and the strong nationwide network supported the company’s efficiency, delivering positive results in output per unit. However, the used fleet vehicles that were sold had been purchased mainly in 2022-23, when limited availability of new cars had pushed purchase prices to high levels, weighing on the overall result.

International Car Rental Operations (Hertz)

Revenue from International Car Rental Operations came to €148.6 million, compared with €137.2 million in the first nine months of 2025, an increase of 8.3%.

In Portugal, the seasonally strong summer period helped offset losses in the first half. The subsidiary returned to marginal profitability for the nine-month period, although this remained below the level recorded in the same period of 2025.

In the Balkan and Cypriot markets, revenue increased by 4.5%, while profitability was at a similar level to the previous year. In Cyprus, results edged down because of weaker demand in the first half of the year amid geopolitical developments in the Middle East.

Automotive Trading and Services

The Automotive Trading and Services in Greece business contributed €380.2 million to the Group’s revenue in the first nine months of 2026, down 6.8% from the same period in 2025.

The decline was mainly due to the transitional phase in the product cycles of Hyundai and KIA, which are expected to gain momentum in 2027 with the launch of significant new models, as well as the early stage of introducing the Group’s new brands Changan, Xpeng and Leapmotor, which need investment and time to build their market presence and generate results. The expectation is that the new brands will make a positive contribution to profitability from 2028, their third year of full operations.

Italian Motion (FIAT/JEEP/Alfa Romeo), whose results are not included in consolidated revenue (equity method), recorded sales of €125.4 million in the first nine months of 2026.

Summary Statement of Financial Position

Summary Income Statement