APCOA PARKING Group 2013 key figures: Results slightly below previous year, increase in locations, tight cost management

https://www.apcoa.com/press/press-releases/article/apcoa-parking-group-2013-key-figures-results-slightly-below-previous-year-increase-in-locations-t/

Stuttgart, March 20th, 2014 – APCOA PARKING Group maintained its course under demanding conditions in 2013.

Stuttgart, March 20th, 2014 – APCOA PARKING Group maintained its course under demanding conditions in 2013. The European leader in parking management reached a turnover of 678 million Euro (previous year 700.5 million). Adjusted for the effects of contract renegotiations and fluctuations in foreign currency, this is an increase of 0.3% over 2012.

New business contributed a turnover of 24.8 million Euro, an increase of +3,6% compared to the previous period. Business in the existing portfolio proved robust, delivering a turnover of 653 million Euro. In the same period of time APCOA PARKING Group succeeded in growing the number of its locations to 7,413, an increase of +1.3% over the previous year’s figures (7,321). The successful introduction of parking surveillance services “Park&Control” made a sizeable contribution here.

As service provider of parking services for contracting partners APCOA PARKING Group realized an additional external turnover of approx. 380 million Euro, not included in the group’s turnover figures mentioned above. Thus total 2013 sales add up to slightly more than one billion Euro (+0.8% over last year).
APCOA PARKING Group had a year-end headcount of 4,681 employees (previous year 4,821).

Marginal EBITDA decrease, operative costs down
Earnings before interest, taxes, depreciation and amortisation (EBITDA) reached 64 million Euro in 2013, trailing last year’s results by 2.3%, adjusted for the effects of fluctuations in foreign currency. Put in perspective, APCOA PARKING Group is looking back at a cumulated EBITDA increase of 28% over the last three years (2010 to 2013).
Business development was hampered by bad weather in the first quarter of 2013. Moreover, Scandinavian parking surveillance provided smaller than usual profit contributions.
In 2013, cost control made further progress across the APCOA PARKING Group.  Programmes for the optimization of cost-structures and efficiency led to savings of 4.9 million Euro, thereof one million Euro of overhead savings.

Country portfolio focused, portfolio of contracts strengthened
APCOA PARKING Group terminated operations in Croatia, Greece and Turkey. The market exit in Spain is under way. In the Netherlands APCOA PARKING Group purchased all outstanding minority interests in its local subsidiary, becoming sole proprietor again.
New business was successfully developed in 2013. The company secured high-earning contracts, which already will sizeably contribute to corporate earnings in their first year of operation. In the United Kingdom and Italy new contracts were won with airports Southampton and Verona.

APCOA PARKING Italia secured a contract from “Ospedali Toscani” Group in the hospital-parking segment, being commissioned with the management of parking facilities at four Tuscany hospitals (in Pistoia, Prato, Luca and Massa).

Also in the city parking segment APCOA’s services gained further acceptance in 2013. In Stockholm APCOA PARKING was entrusted both with the management of the greater part of the public parking space and the parking surveillance. New contracts with the Copenhagen Blue Planet Aquarium and two shopping centres in Warsaw and Katowice completed the success.

Portfolio optimization and launches of new service products were in focus in 2013, too. This encompassed the roll-out and development of the parking surveillance service “Park&Control” in Germany (40 new locations) and in Italy.

Position in airport business firmed up
APCOA PARKING Group sustainably strengthened its position in the strategically important airport parking segment, reaching five contract renewals in Norway, encompassing parking services at airports Bergen Airport Flesland, Stavanger Airport Sola, Trondheim Airport Værnes, Tromsø Airport Langnes and Bodø Airport. In Denmark the contract with Billund Airport saw an early renewal. APCOA PARKING group is the European leader in airport parking, with more than 30 airports under contract.

Constructive refinancing negotiations 
In September 2013 refinancing negotiations with the creditors of APCOA PARKING Group started concerning the repayment of loans that were about to fall due and which resulted from the acquisition of the company in 2007. The objective is to considerably reduce APCOA's debt.
A clear majority of the creditors stated that, in principle, they would support the financial restructuring as suggested by APCOA. Back in November 2013, the lenders, under the lead of Centerbridge Partners LP, had already provided bridge financing in the amount of EUR 50 million to secure the refinancing phase.
It is intended for the negotiations to be successfully completed by mid-2014. In this context, APCOA is preparing for a change of owner as the existing investor Eurazeo will probably exit after the debt restructuring has been completed.

Expanding market position
Ralf Bender, CEO of APCOA PARKING Group: „We’ve made thorough progress in 2013 and kept our result almost steady in a challenging market environment. We are confident to reach our growth and refinancing aims in 2014, which we are pursuing with great determination. Our strategic aim continues to be developing our company from a technical car park operator to a parking manager with a client- and value focus.”

 

Press contact

APCOA PARKING Holdings GmbH
Tilman Kube
Flughafenstr. 34
70624 Stuttgart-Airport
T: +49 711-94791-0

About APCOA PARKING
APCOA PARKING Group is the leading European parking manager. More than 40 years of operational experience and innovation, the combined know-how from 12 European countries, an annual turnover of more than € 700 million, and a highly diversified portfolio are distinguishing APCOA PARKING Group from competitors. This business clout, quality of service and stability offered to private and public proprietors, keep APCOA PARKING Group in the European top position. More than 30 European airports have chosen APCOA to manage their parking facilities, making the company the market leader in this segment, too.
The group currently manages around 1.3 million parking spaces at more than 7,400 locations in Europe. All car parks are managed on the basis of local know-how, individual contracts, tailor-made technical solutions and customer-oriented services. APCOA’s international expertise and innovative clout is powered by 4,700 employees. APCOA Group headquarters are located in Stuttgart (Germany).

www.apcoa.com 

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