- Group turnover climbs to 494.6 million euros (PY: 492.0 million euros)
- EBITDA rises to 37.7 million euros (PY: 35.0 million euros)
- EBIT increases to 15 million euros (PY: -7.2 million euros)
- Cash flow from operating activities more than doubles to 22.7 million euros (PY: 9.6 million euros)
- Strategy 2020 successfully launched
- Efficiency program fuels margin growth
- APCOA promotes the digitalization of parking
Stuttgart, 18 December 2015 – APCOA PARKING Group, the leading car park management company in Europe, continues to post positive results through Q3 2015. During the first nine months of the 2015 financial year, the company achieved a consolidated European turnover of 494.6 million euros (PY: 492.0 million euros). As a service provider for third-party contractors, the group's parking services generated additional external revenues of 196.4 million euro, which are not included in the group's sales figures. The group's total turnover for the first three quarters of the financial year was 691.0 million euros (PY: 724.2 million euros).
The group's EBITDA (earnings before interest, taxes, depreciation and amortization) increased to 37.7 million euros (PY: 35.0 million euros) over the first nine months of the financial year, which represents an increase of 7.7% compared to the previous year. The company's EBITDA margin improved to 7.6% (PY: 7.1%). EBIT (earnings before interest and taxes) reached 15.0 million euros (PY: -7.2 million euros). Cash flow from operating activities more than doubled over the last twelve months, rising to 22.7 million euros (PY: 9.6 million euros). “The energy we have devoted to developing our business and to increasing our efficiency in recent months is paying off”, said Ralf Bender, CEO of APCOA PARKING Group.
Coinciding with the end of its financial year, APCOA has launched its new strategy 2020 in order to accelerate the growth of the company. APCOA plans to achieve its ambitious targets by investing in digitalization, new business development as well as in acquisitions for external expansion. In addition, the company has initiated an efficiency program that has already contributed positive results.
Europe-wide increase in turnover
APCOA has delivered growth in almost all of its markets across Europe. The strongest growth was posted in the Southern European region (Italy, Spain and Poland). Whereas turnover increased by an average of 6.3% to 39.0 million euros (PY: 36.7 million euros) compared to the previous year, EBITDA was up by 17.7% to 5.3 million euros (PY: 4.5 million euros). In the Central European region (Germany, Austria, Belgium, Holland and Switzerland), APCOA generated revenues totaling 169.6 million euros (PY: 162.8 million euros), representing growth of 4.1% to the previous year. EBITDA rose by 18.1% to 19.6 million euros (PY: 16.6 million euros). Turnover of 198.3 million euros in the Northern European region (Denmark, Sweden and Norway) was on a similar level as in the year before (PY: 200.1 million euros), although the region's EBITDA grew by 7.7% to 15.3 million euros (PY: 14.2 million euros). “The steps we have taken to improve space utilization within our car parking facilities, combined with our earnings enhancement program, have resulted in overall performance gains,” said Bender.
Parking space monitoring continues to grow
The company was successful in acquiring new mandates for both parking management and parking space monitoring. In the first nine months of the year, APCOA won contracts for a total of 498 new sites across Europe. The Park & Control division showed particularly high levels of dynamics, generating new contracts at 70 different locations. “We are experiencing a substantial increase in demand within this sector,” observed Bender. “More and more retailing companies and private property owners want to make sure that their car parks are readily available for their customers, and not occupied by unauthorized parkers.”
Digitalization of parking facilities adds to customer experience and profitability
In PARKWAY, APCOA has presented a digital solution that enhances customers' parking experiences and increases the profitability of parking facilities. The new service concept is based on an online platform, with RFID chips that allow drivers contactless access to car parks. Payments are made electronically, via credit card or invoice. The platform is open to partnerships with other parking facility operators – whether public or private. “We aim to create an alliance of property owners, municipalities and car park operators in order to offer our customers the widest possible choice of parking spaces and the highest levels of convenience and comfort,” said Bender. The first pilot projects are already underway in Southern Germany.
In Milan and Bologna in Italy, the so-called Telepass Service is being expanded. A transponder, already used by drivers to pay their motorway tolls, offers contactless and cashless access to participating car parks. The system is testament to the contribution APCOA is making to the digitalization of the industry, offering drivers quicker, easier and more convenient parking than ever before.
Outlook
Ralf Bender provides a positive assessment of the business over the first nine months of the financial year: “Our operative business and financial data are all developing well as the year progresses. We expect to achieve all of our revenue and profitability targets by the end of the year.”
