December 1, 2021

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Benoit Carrell appointed CEO of EUROPCAR MOBILITY Australia / New Zealand

(AOF) – EuropeCar Mobility Group has announced the appointment of Benoit Karel as Managing Director of Australia / New Zealand, covering all of the Group’s activities in the region. Benoit Carrell succeeds Ron Santiago, who has been appointed Managing Director of Britain’s EuropeCar Mobility Group.

Benoit Karel began his career at KPMG, then in private equity. He joined Europecar Mobility Group in 2008 and has held various executive positions, including the position of Group Managing Controller within the Group’s core functions.

In 2018, he was appointed Managing Director for “Mid Size” Countries, with the responsibility of incorporating newly acquired countries into the group. Prior to his appointment as Managing Director of Australia / New Zealand, Benoit Carroll was Deputy Director of Country and Group Operations.

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Important points to remember about Eurocar

– Europe’s third and European leader in vehicle rental, created in 1949, with 20% market share, under the brands Eurocar, Goldcar for low-cost leisure, Upigo, Icarus or Brunel for new movement;

– $ 2.95 billion turnover, split between 4 segments, car rental for 73%, lower price for 14%, new movement after 12% utilities – car sharing, scooter sharing, etc.

– Strong presence in 140 countries, 9 of which are licensed networks in Germany, Australia, Belgium, Spain, France, Italy, New Zealand, Portugal and the United Kingdom, and elsewhere;

– Business model based on revenue visibility through partnerships with transport and tourism groups, ensuring 1/3 income, then strategy of integrating owners and, finally, diversification into new movement;

– 29.5% of the capital is owned by Eurasio, with Jean-Claude Bailey as Chairman of the Board and Carolyn Barrott as Managing Director;

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– The tense financial situation is recorded outside the balance sheet, with 3.2 times as much debt as at the end of 2019 operating debt and the Navy’s financial debt.

Shares

– Shift 2023 Roadmap: Increasing core business – scaling up car and utility rentals – and urban operations, improving business services, doubling the number of active customers to 15 million;

– Fox integration.

Innovation strategy

– Digital increase in revenue (76%), than agencies (14%) and call centers;

– Operation services through acquisitions or long-term partnerships with a planned investment of $ 80 million, including 25 for the “laboratory”;

Environmental strategy

The environmental strategy focuses on the navy’s electrification and circular economy.

To be continued

– The most competitive sector within the instability due to the arrival of car sharing and carpooling companies with 2 key indicators, Navy utilization –76.1% – and its unit cost – 6 226;

– Sensitivity to aviation, more than 40% of agencies located at airports and season of operation, total operating surplus generated in the 2nd and 3rd trimesters 9/10;

– Strong sensitivity to economic activity in Europe (approximately 80% of revenue, including 20% ​​in the UK and 16% in France);

– Infectious adaptation program: – Reducing the cost and size of the navy, negotiating contracts and short-term work – Cash flow: In mid-April, the Spanish government provided 70% guaranteed financing of 36 million million ppi (m 220 million expected) and operating with the French government in other countries. 36 million and support efforts;

– Postponement of the general meeting until the end of June 2020.

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The movement of integration must occur

According to a study by Roland Berger and Lazard Bank with 600 companies around the world, auto suppliers were hit hardest by the downturn in the automotive market in the first six months: their operating volume (EBIT) fell 1.7%. (Compared to 5.1% last year). Their debt has increased and is, more often than not, three times their ephedra. According to the study, subcontractors’ revenue will fall by 15% to 20% by 2020, following sales of new light vehicles not exceeding 72 million worldwide by 2020 (20% per year). In this environment of sharp deterioration, the number of merger and acquisition transactions that are expected to decline again by 2020 is expected to rise again next year. In a field subject to change, not all companies can replace their production equipment with the electrification of machinery.