Europcar Mobility Group : Updapting our recommendations after the profit warning
On October 23, 15 days ahead of schedule, Europcar Mobility Group released Q3 2019 results well below expectations (corporate EBITDA € 218m, down 10% y/y vs. € 264m expected by our equity analyst), which led him to slash his full-year targets. The group is now targeting sales of around € 2.95bn (vs. € 3bn previously), but, above all, has cut its adjusted Corporate EBITDA target to €305/315m excluding Urban Mobility, and to €275/285m factoring in losses from the Urban Mobility div...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.
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.
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