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Car Dealer Denzel Increases Group Turnover by Twelve Percent

Published: May 17, 2018; 22:15 · (Vindobona)

Vienna-based car importer and dealer Denzel sold around 45,000 vehicles in the past fiscal year and increased group sales by 12 percent to over 830 million euros.

(f.l.t.r.): Roland Mössler, CEO of Denzel Bank; Hansjörg Mayr, CEO of Wolfgang Denzel Auto AG; Heinz Gruber, CEO of Denzel Bank; Bernhard Stark, CFO of Wolfgang Denzel Auto AG; Gregor Strassl, CEO of Wolfgang Denzel Auto AG / Picture: © Wolfgang Denzel AG / APA-Fotoservice / Juhasz

As Austria's largest private car importer and multi-brand dealer, the Denzel Group can look back on a good 2017 financial year.

Consolidated Group sales increased by around 12 percent to just under 833 million euros (2016: 743 million euros).

With more than 1,300 employees at 18 locations, the Denzel Group generated earnings before taxes of EUR 18.3 million last year (2016: EUR 17.4 million).

Gregor Strassl, CEO of Wolfgang Denzel Holding AG: "The Denzel Group can look back on a successful year 2017. The division into the 3 sub-segments Automotive, Financial Services and Real Estate proves to be correct and risk diversifying. All three increased their operating results over the previous year."

With currently 16 different automobile brands, the Denzel Group offers its customers a selection that is unique in Austria and ensures independent advice. This broad positioning in the automotive sector is supplemented by a wide range of in-house financing options.

Dr. Bernhard Stark, CFO of Wolfgang Denzel Auto AG: "All Denzel Group divisions are showing positive results for 2017. On the basis of this positive earnings development, the Denzel Group was able to further expand its equity from 143.9 million euros to 154.6 million euros. This creates optimal conditions for investments in the future."  

The volume of newly concluded financing increased by 10 percent to a record 131 million euros. The largest share of this, at around three-quarters, was again accounted for by the core business area of "automotive financing", with the remainder being distributed among the financing of other consumer and capital goods. Heinz Gruber, Member of the Management Board of Bankhaus Denzel AG: "Overall, the portfolio of loans - loans and leasing - as at 31.12.2017 increased by 15 per cent over the previous year to 320 million euros. That's a peak, too. At the same time, savings deposits rose to a record level of more than 228 million euros".

As a result of the pleasing developments in all divisions, profit before taxes reached a new record level of 4.7 million euros as of December 31, 2017, which corresponds to an increase of around 16 percent over the previous year. Heinz Gruber: "This continues the positive trend of recent years at Denzel BANK based on our traditional business model: we take in savings deposits and grant loans and leasing contracts to consumers and SMEs in Austria on a broad basis".

Hansjörg Mayr, Member of the Board of Management of Wolfgang Denzel Auto AG: "The traditionally strong import business for the Mitsubishi and Hyundai brands also developed positively throughout 2017. With 4,686 Mitsubishi cars and pick-ups, Denzel Autoimport GmbH achieved a car market share of 1.3 percent. Hyundai Import GmbH closed with 19,905 registrations and is once again the most successful Asian car brand in Austria with a market share of 5.6 percent. The tyre business of Denzel subsidiary Autoplus GmbH with the Bridgestone, Lassa and Sailun brands also developed extremely well in the past financial year, rounding off the sustained success of the import sector.

In addition to achieving our sales targets, the focus in 2017 was on the training and further education of our sales partners. The main focus here is on new drive technologies, since in addition to gasoline and diesel engines, more and more hybrid, plug-in hybrid, electric and hydrogen drives are conquering the market. A further focus was placed on the management of existing customers and the improvement of the online presence".

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