Romania's Autonom Services prelim net profit down 45% in 2023

The company’s operating profit rose 5.2% on the year to 100.6 million lei in 2023, Autonom said in an unaudited financial statement filed with the Bucharest Stock Exchange.

The drop in the company’s net profit was mainly attributable to an 82.8% rise in finance costs, which reached 64.8 million lei in 2023.

Autonom’s operating income rose 12.6% year-on-year to 728.9 million lei in 2023, with the operating lease income accounting for 39.8%. The income from the sale of cars from the rental fleet and rental equipment represented 24.7%, while additional services revenue and rent-a-car income sliced shares of about 18.7% each.

Total assets stood at 1.59 billion lei at the end of 2023, up by 14.1% on the year, while total liabilities saw a 13.6% increase to 1.37 billion lei.

In 2022, after receiving regulatory approval from Romania’s antitrust authority, Autonom completed the takeover of Tiriac Operating Lease for 11.2 million euro ($12.2 million).

Founded in 2006, Autonom Services is part of Autonom group which is present in Romania, Hungary and Serbia with some 600 employees and a fleet of 12,000 cars.

(1 euro=4.969 lei)