Autonom Services SA, the most extensive mobility network in Romania, announces consolidated revenues in 2020 of 327 million lei and a net profit of 7.2 million lei. In a year marked by a global pandemic that brought multiple challenges to the markets and sectors in which the company operates, Autonom Group increased operating revenue by 10% and significantly strengthened its financial position.
“2021 is a special year for us as it marks 15 years since the establishment of Autonom, an important milestone for a 100% Romanian entrepreneurial company that managed to sweep through two major crises. In 2020, we outperformed all the estimates, which predicted significant declines for the global rent-a-car and operational leasing industries. The results obtained last year confirm that Autonom’s business model is agile and sustainable, built to withstand shocks. We are confident that we are experiencing a new growth cycle for Autonom, and we will continue to invest in the development and preparation of the Group for the economy of the future,” stated Dan Ștefan, cofounder and co-shareholder of Autonom.
Despite the negative impact of the pandemic, Autonom managed to increase its turnover generated by the operational leasing (+7.5% compared to 2019) and second-hand car sales (+72.4%) business lines, thus recovering the decrease in the turnover of the rent-a-car division (-28.9%). Consequently, Autonom ended 2020 with 171.3 million lei revenues generated from operational leasing and additional services, 46.8 million lei revenues from car rental and 79,4 million lei revenues from cars’ sale.
Other accomplishments in 2020 include an average annual fleet rental rate of 69% – a good result considering the impact on the local and international tourism industry as well as an increase of the customer satisfaction indicator (Net Promoter Score) to 82% in 2020, compared to 74% as recorded for 2019, in an industry where the average is below 30%. Moreover, the rental volume related to the replacement car segment settled by the RCA insurance grew by 31%.
The key elements that helped the company to emerge from this crisis more robust and prepared for the future were:
- Robust risk-taking “financial fortress” policy, with high liquidity and solvency, constantly practiced since the first years of Autonom;
- Providing modern mobility solutions, vertically integrated, with mostly recurring revenues;
- High diversity of customers, companies and individuals alike;
- Organization of Autonom as an autonomous and involved “team of teams”, which allowed a rapid mobilization in adapting to the new context.
“Considering the important cash availabilities of almost 75 million lei, we are preparing for a new growth period for the Autonom Group. We aim for a double-digit growth rate of revenues and much better profitability than in 2020, maybe even better than 2019. In 2021 we expect the market to be similar to 2009, when our business grew significantly. We believe that Autonom’s business model is a healthy one and ready to continue to evaluate all opportunities for sustainable growth, both organically and through acquisitions of companies compatible with our strategy,” added Marius Ștefan, cofounder and co-shareholder of Autonom.
So far, in 2021, Autonom has recorded growth for all business lines. Companies have a significant interest in investing in operational leasing services, and on the rent-a-car side, Autonom has recorded a historic rental rate. Therefore, the management of Autonom expects significant growth of all the operational indicators. This development will continue to be stimulated by strengthening the position in the markets in which Autonom operates and testing new products and markets.
The company is also actively analyzing potential acquisitions of companies compatible with Autonom’s business model. A similar approach was applied in the case of BT Operational Leasing that, as of January 2021, is fully integrated into the Autonom Services structure. Through this merger, Autonom made an essential step in evolving the Group’s operational leasing division by increasing its client portfolio and assets and working closely with the strongest local financial Group – Banca Transilvania. The integration has also accelerated the development of Autonom Services by achieving substantial financial and operational synergies.