APCOA PARKING Group: Portfolio Business Remains Stable as Car Park Surveillance Maintains its Growth Trajectory

http://apcoa.com/press/press-releases/article/apcoa-parking-group-portfolio-business-remains-stable-as-car-park-surveillance-maintains-its-growth/

Stuttgart, 27 August 2014 – APCOA PARKING Group, the leading European parking manager, ended the first semester of 2014 with an altogether stable performance, and signed new contracts. Both sales and funds from operations in H1 softened slightly year on year.

Stuttgart, 27 August 2014 – APCOA PARKING Group, the leading European parking manager, ended the first semester of 2014 with an altogether stable performance, and signed new contracts. Both sales and funds from operations in H1 softened slightly year on year.

APCOA PARKING Group achieved consolidated revenues in an amount of 325 million euros during the first six months of 2014. When adjusted for currency effects, this implies a modest decline by 0.9 million euros compared to the first semester of 2013.

The operative earnings before interest, taxes, depreciation, and amortisation (EBITDA) and before refinancing costs totalled 21.6 million euros by the end of H1 2014. When adjusted for currency effects and one-off effects, the funds from operations showed an analogous year-on-year decline by 0.9 million euros.

In addition to the consistently robust portfolio business, the company signed new contracts in Germany, the United Kingdom, and the Netherlands. In Germany, the relatively new business segment of car park surveillance called “Park&Control” crossed the mark of 100 locations under management. The same service was introduced for property owners on the Dutch market.

In Norway, the company's e-solutions division took over another two pre-booking platforms for the international airports of Oslo and Sandefjord during the first semester of 2014. Following the introduction of five booking platforms in just six months, APCOA PARKING Group established its leadership in the area of e-solutions in terms of performativity, business intelligence, as well as income and revenue management for airports.

In the United Kingdom, the company's market leadership in railway station parking was expanded in 2014 to date. Cooperating closely with a certain railway company, APCOA will improve the company's parking facilities by introducing new technology. This includes automated license plate recognition in 13 railway stations.

In accordance with the corporate strategy implemented last year, the cost control was enhanced for the Group as a whole by implementing additional improvements. Said Ralf Bender, CEO of APCOA PARKING Group: “The company's performance during the first semester has created a sound basis for the remaining months of the 2014 financial year. The new contracts we signed further expanded our income basis."

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 678 million Euro, and a highly diversified portfolio distinguish 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 1.4 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).

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APCOA PARKING reaches agreement with sponsor and lenders on financial restructuring, reducing the Group’s debt by more than €440 million

http://apcoa.com/press/press-releases/article/apcoa-parking-reaches-agreement-with-sponsor-and-lenders-on-financial-restructuring-reducing-the-gr/

Stuttgart/Paris, 20 August 2014 - The Group is pleased to announce that it has reached agreement with its Sponsor, Eurazeo SA, and has the support of a majority in excess of 95 % of its lenders who have acceded to a formal lock-up agreement setting out the terms of a financial restructuring of the Group.

Stuttgart/Paris, 20 August 2014 - The Group is pleased to announce that it has reached agreement with its Sponsor, Eurazeo SA, and has the support of a majority in excess of 95 % of its lenders who have acceded to a formal lock-up agreement setting out the terms of a financial restructuring of the Group. Under the terms of the deal:

  • the Group’s debt will be reduced by more than €440 million, significantly deleveraging the Group’s balance sheet;
  • the Group’s projected growth and capital investment programme will be fuelled with €90m of additional financing from Deutsche Bank AG; and
  • the refinanced facilities will be extended for a further six year period.

The formal implementation and documentation process of the restructuring via a UK Scheme of Arrangement is expected to conclude during October 2014. The Group’s lenders have therefore already extended the current Group’s financing maturity date to 25 October 2014.

The Group’s Chief Executive Officer, Mr. Ralf Bender, said that agreement of the financial restructuring was a key milestone for the Group and that in removing over €440m of its debt burden, the business would be placed on a sound financial footing, providing the platform to grow and expand its position as the leading European parking manager. APCOA PARKING can now focus solely on what it does best – providing excellent products and services to customers.

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 678 million Euro, and a highly diversified portfolio distinguish 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 1.4 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).

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Press contact

APCOA PARKING Holdings GmbH

Sebastian Merkle
Flughafenstr. 34
70629 Stuttgart-Airport
T: +49 711-94791-652

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