Greek automotive group Autohellas reported nine-month consolidated revenue of 785.4 million euros for 2026, as growth in car rentals offset weaker vehicle sales in Greece.
In a financial statement covering the period ended September 30, 2026, the company said its nine-month turnover slipped 0.5% from 789 million euros in the same period of 2025. Operating profitability improved over the nine months, even as bottom-line net profit after tax fell 5.3% to 68.8 million euros.
During the third quarter of 2026, which is seasonally the strongest period for the group, consolidated turnover stood at 284.4 million euros. That marked a marginal 0.8% decline from the 286.5 million euros recorded in the third quarter of 2025.
Third-quarter net profit after tax edged up 0.4% year-on-year to 40.3 million euros, while earnings before interest, taxes, depreciation and amortisation, known as EBITDA, rose 4.4% to 107.9 million euros from 103.3 million euros a year earlier.
Nine-month profit metrics and balance sheet
Across the full nine-month period, Autohellas posted EBITDA of 237.6 million euros, a 3.4% increase from 229.7 million euros in the first nine months of 2025. According to the group, steady demand for short-term and long-term vehicle leases in Greece and across the Balkans served as the primary pillar supporting operating earnings.
However, profit measures that account for vehicle depreciation and financing costs came under pressure during the nine-month period. Earnings before interest and tax, or EBIT, fell 10% year-on-year to 88.6 million euros, while earnings before tax, or EBT, declined 10.9% to 76.2 million euros.
Total nine-month net profit after tax dropped to 68.8 million euros from 72.6 million euros a year earlier. Net profit attributable to shareholders of the parent company stood at 65.9 million euros, a 4.1% decrease compared with 68.8 million euros in the first nine months of 2025.
As of September 30, 2026, the group reported total shareholder equity of 578 million euros. Autohellas stated that the overall financial picture reflected a divergence between its expanding rental division and the pressures facing its car trading arm.
Fleet expansion and Greek car rental performance
Headquartered in Athens and listed on the Athens Exchange, Autohellas operates across two primary business lines: vehicle rentals and automotive import and distribution. The company is the national franchisee for the Hertz car rental brand in Greece and several other European markets.
Across all its operating markets, the group's short-term and long-term rental operations are supported by a total fleet of nearly 69,000 cars. During the nine-month period, Autohellas invested in approximately 14,000 new vehicles as part of its ongoing strategy to expand and renew its fleet.
In Greece, the Hertz car rental division increased its nine-month turnover by 5.2% year-on-year to 256.6 million euros. Autohellas noted that revenue growth was driven primarily by long-term corporate and operating leases, though short-term rentals, which represent the core of the segment's profitability, also recorded positive momentum.
That domestic growth came despite milder growth rates in tourist arrivals to Greece and stiffer competition across the rental market. The company said its nationwide branch network and high rate of fleet renewal helped improve revenue generated per vehicle.
At the same time, overall segment margins were held back by the resale of used fleet cars. The vehicles sold off during the period had been acquired mainly in 2022 and 2023, when global supply chain shortages restricted new car availability and drove purchase prices to unusually high levels.
International Hertz operations in Portugal and the Balkans
Outside Greece, Autohellas's international car rental division generated 148.6 million euros in nine-month turnover, up 8.3% from 137.2 million euros in the same period of 2025. The international unit operates Hertz franchises across multiple southern and southeastern European markets.
In Portugal, a strong summer tourism season helped the local subsidiary recover from losses recorded during the first half of the year. The Portuguese operation returned to marginal profitability over the nine-month period, though its earnings remained below the level achieved in the first nine months of 2025.
Across the Balkan markets and Cyprus, nine-month rental turnover grew by 4.5% year-on-year, while segment profitability matched the previous year's levels.
In Cyprus specifically, financial results dipped slightly over the nine months. Autohellas attributed that decline to weaker rental demand during the first half of 2026 caused by geopolitical instability in the nearby Middle East.
Auto sales decline and new brand launches
In contrast to the growth in rentals, Autohellas's car trading and services division in Greece saw nine-month revenue fall 6.8% year-on-year to 380.2 million euros. The division imports, distributes and retails passenger and commercial vehicles across the Greek market.
The company said the drop in trading revenue was largely the result of a transitional phase in the model cycles of South Korean automakers Hyundai and Kia. Autohellas expects sales for both brands to strengthen in 2027 following the launch of major new vehicle models.
Earnings in the trading segment were also weighed down by upfront costs required to introduce three Chinese automotive brands to Greece: Changan, Xpeng and Leapmotor. The three manufacturers, which focus heavily on electric and new-energy vehicles, are in the early stages of building their Greek dealer networks and market presence.
According to Autohellas, these newly launched brands require sustained investment and time before reaching scale. The group estimates that Changan, Xpeng and Leapmotor will begin making a positive contribution to profitability in 2028, which will mark their third full year of commercial operation in Greece.
Separately, Autohellas reported that its Italian Motion venture, which distributes the Stellantis-owned Fiat, Jeep and Alfa Romeo brands in Greece, generated 125.4 million euros in sales during the first nine months of 2026. Because Autohellas accounts for Italian Motion using the equity method, which records only the group's proportionate share of net profit or loss, those sales are not included in consolidated group turnover.
