Autohellas S.A.

Consolidated revenue exceeded EUR 1 billion in 2025, 5% above 2024 and higher than the previous record in 2023. EBITDA reached EUR 295 million, up 5% year over year. EBIT was EUR 117 million, down 5% from 2024, and net profit was EUR 80 million versus EUR 85 million last year; the company also referenced EUR 10 million of dividends in both years. Revenue footprint including Italian Motion was EUR 1.2 billion, though Italian Motion revenue of EUR 170 million was not consolidated. Assets increased by EUR 200 million, net debt by EUR 100 million, and equity by EUR 95 million; the fleet reached 65,000 units and the company invested EUR 366 million in about 20,000 vehicles. For 2026, management said it is early, but initial indicators in Greece are positive: airline seats planned for Greece are up about 7%, hotel reservations are up a single-digit percentage year to date, and the Greek car market in Q1 is up 3% to 4%.

The CEO described 2025 as another very solid year and said Autohellas has maintained a post-2022 earnings level that is roughly double pre-COVID profitability. He emphasized the resilience of the model across rentals, leasing, and car trading, and said the company can withstand a reasonable amount of pressure despite industry volatility. Strategic priorities include IT modernization, continued land acquisition near airports to improve logistics, and better facilities in Portugal for servicing, repairs, and used-car resale. He sounded constructive on Greece tourism and the rental business, but more cautious on the Middle East conflict and on the timing of any broader move into Portuguese leasing.

The CFO said Greece was the main top-line driver, with short- and long-term rentals in Greece up 12% and strong fleet utilization, customer satisfaction, and revenue per car. He pointed to EBITDA of EUR 295 million, EBIT of EUR 117 million, and net profit of EUR 80 million, noting that EBIT and earnings were pressured by margins in auto trade and Portugal. He also highlighted balance-sheet growth, with assets up EUR 200 million, net debt up EUR 100 million, and equity up EUR 95 million, alongside a fleet of 65,000 units and EUR 366 million of fleet investment. He said the group continued to invest in fleet renewal and aimed to keep optimizing fleet management to support sustainable growth.

Analysts focused on Portugal and the Chinese brands. Management said there is no short-term plan to enter leasing in Portugal; instead, the priority is to improve rent-a-car infrastructure and efficiency first, and management said there is no chance of entering Portuguese leasing over the next 2 to 3 years. On the Chinese brands, management said the current lineup is only electric, which limits the addressable Greek market, but by year-end at least 2 of the 3 brands should add hybrids and plug-in hybrids, which should materially expand sales potential. In response to questions about rent-a-car margins, management said pricing pressure is always present in Greece, but buying conditions and used-car resale are improving, which should help offset competition.