Report
Delphine Chauvin

Europcar Mobility Group : Mieux vaut attendre un retour sur le marché primaire

Nous conservons une Opinion Crédit Stable, car nous n’anticipons pas d’évolutions majeures du profil de crédit d’Europcar Mobility cette année. Le management s’estime satisfait de son niveau d’endettement « Corporate » (levier de 2.4x à fin 2018). Il ne met donc pas le désendettement au premier rang de ses priorités, préférant utiliser le free cash-flow généré pour réaliser des acquisitions ciblées et mieux rémunérer ses actionnaires, mais tout en conservant néanmoins l’objectif ...
Underlying
Europcar Mobility Group SA

Europcar Groupe SA is part of the mobility sector as a handler in rental vehicles. Co.'s objective is to provide the mobility solution that meets its customers' needs in a market where expectations are constantly changing. Co. offers mobility solutions extending from short-term vehicle rental, via its three main brands, Europcar®, Ubeeqo® and InterRent®, and chauffeur services to car-sharing and a platform offering mobility services. Ubeeqo, a specialist in car-sharing, and E-Car Club, a car-sharing start-up offering an entire fleet of electric vehicles in the United Kingdom, have broadened Co.'s mobility offer through its subsidiary, Europcar Lab.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Delphine Chauvin

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