Europcar Mobility Group2 announces today the finalisation of its balance sheet restructuring, thanks to the successful completion of the final steps of the accelerated financial safeguard plan approved by the Paris Commercial Court on February 3rd, 2021.
This will enable the Group to accelerate the implementation of “Connect”, its strategic roadmap, while actively preparing for the progressive recovery of domestic and international travel.
The restructure includes:
€250M new money via a capital increase and €225M new fleet financing facilities,
Significantly reduced corporate debt: from €2.010m to €910m
Caroline Parot, Chief Executive Officer, stated:
“Today, it is with great ambition that we are opening a new chapter in the history of Europcar Mobility Group: with a significantly reduced corporate debt, the injection of new money combined with new fleet financing facilities, as well as the support of our new shareholders, we are ‘back in the game’.
We will now focus on rolling out “Connect”, our strategic roadmap, at an accelerated pace, with the objective to make our Group a leader in flexible, sustainable, connected and digital mobility solutions. In parallel, our teams, which are strongly mobilized, are actively preparing for the summer and the perspective of a progressive recovery of domestic and international travel.
In line with this, we will soon announce the launch of new services and offers: flexible mid & long-term subscription solutions for companies and businesses; 100% digital proximity service in urban environment, operated by Europcar; reinforcement of our fast & contactless, ‘direct access’ to vehicles offer in airports and railway stations, and consolidation of our international partnerships.”