On the operational side, the Group improved its performance with significant progress on two of its key operating metrics: fleet utilization and fleet cost per unit.
Photo courtesy of Europcar.
In Q1 2019, Europcar Mobility Group generated revenue of 553 million euros ($617 million) with a slight decline of 0.6% compared to last year, which resulted from two main factors: a smooth start to the year and Easter, which was in April this year.
The Group experienced a progressive recovery with April underlying this trend with a revenue growth of 5.1%, versus April last year. On the operational side, the Group improved its performance with significant progress on two of its key operating metrics: fleet utilization and fleet cost per unit.
Europcar delivered a solid performance in terms of fleet financial utilization thanks to an increase in utilization in its cars business unit. At the Group level, fleet utilization rate reached 73.5% in Q1, up 40 basis points versus Q1 2018.
The Group reduced its fleet cost per unit per month by 3% in Q1 2019 versus Q1 2018 from 242 euros ($272) to 235 euros ($262) in thanks to a significant improvement in fleet operating costs.
On the digital side and New Mobility, the Group carries on its significant investments in technologies and talents to develop transformational programs such as Click & Go, which will be released during Q2, and connected cars which will contribute to improve the customer journey and our costs savings programs.
Digital initiatives are accelerating the reach and quality of delivery of our digital distribution platforms, as reflected in our good digital performance: 5% growth in e-commerce revenue at Group level, with Ubeeqo delivering a 63% increase, reflecting its increasing activity in the 11 cities where the car-sharing brand operates.