The company’s net profit stood at RON22.5 million in 2021, up 212% from 2020 and up 28% from 2019, in line with financial data released by Autonom on Thursday.
As regards the financial results for 2021 of the company’s divisions, the operating lease division, Autonom Lease, generated revenues of RON185.6 million, up 17% from 2019, in a challenging context, due to the effects of the semiconductor crisis. Inflation has also become present in several cost categories that make up the monthly full-service operating lease rate, such as insurance, maintenance, tires, car replacement, and administration costs.
Autonom’s rent-a-car division recorded revenues of RON68.7 million, up 4% compared to 2019, due to the continuous increase in demand, simultaneously with the increase in tariffs generated by the shortage of cars On the market. In 2021, Autonom reached a fleet occupancy rate of over 88%.
The AutoRulate division registered revenues of RON78.7 million, a record value, up 71% compared to 2019. The results of this division are significant considering the context in which the company was forced to partially postpone the sale of cars due to production delays caused by the semiconductor crisis and high demand and fleet occupancy.
At the end of 2021, Autonom raised EUR48 million through the capital market. Raising these new funds is part of the first stage of the corporate bond issuance program, a premiere for the Romanian capital market, which the company wants to run in the next five years. It intends to raise up to EUR250 million. The bulk of the capital raised will be used for investments in the transition to green fleets, a key element for the company’s sustainable development. The bond issue is part of the sustainability strategy developed by Autonom for the coming years and where the environmental component is the most important direction for the company’s actions and decisions.
“We still live in unstable and unexpected times in modern society – the pandemic is still present in our lives, and the war in Ukraine has shown us that geopolitical disputes are not just in the history books. The last two years have shown once again that the next crisis always comes from the least expected place. Since the company’s beginning, we have faced various crises that have led us to lead and develop the Autonom business in a volatile environment characterized by uncertainty and frequent direction changes from either the political, economic, or social sphere. As was the case at the beginning of the COVID-19 pandemic, we have an excellent financial situation after raising a new round of financing through the capital market at the end of 2021. This means that we are very well capitalized to take advantage of the opportunities that may appear in the next period on the market,” stated Marius Stefan, co-founder of Autonom.