“I did not complete the joint venture (with Pappas Holding GmBH i.e.). I’m still at 100% and happy that way. Meanwhile, I’ve positioned myself in Germany, certain things have changed,” said Michael Schmidt, president of MHS Holding, the entity that owns all his businesses in Germany and Romania.
On the three markets where it operates – Romania, Germany and Austria, MHS posted EUR415 million revenue in 2019, 7% higher than in 2018. The group sold almost 8,700 units in Europe.
“This is the first time we’ve managed to overshoot the EUR400 million mark and get to EUR415 million. We wanted to in 2018 but failed to do it. We saw growth across all segments of the business in 2019 except for trucks, where sales were flat. We did see our profitability increase, even there, though.”
The businessman says he plans to resume expansion and increase the number of centers near Munich, where he owns four auto dealers in the south of the city.
(English version by Loredana Fratila-Cristescu)