Published: 08-03-2018 08:29

Stern Groep N.V., listed Dutch market leader in automotive retail and services, announces its results for 2017. 

Key points in 2017

  • Net revenue amounted to € 1,124.7 million (2016: € 1,097.6 million)
  • Gross EBITDA amounted to € 69.5 million (2016: € 75.1 million)
  • Profit after tax is € 7.5 million (2016: € 11.3 million)
  • The profit includes a net amount of € 1.3 million in non-recurring income (2016: € 2.2 million)
  • The market share for new passenger cars has increased to 5.9% (2016: 5.7%)
  • The market share for new light commercial vehicles is 7.6% (2016: 8.1%)
  • The lease portfolio showed organic growth of 9.1% to 11,022 contracts at year-end 2017 (growth at national level: 8.7%)
  • The total number of vehicles managed by Lease has risen to 14,217 (2016: 13,149)
  • A dividend for the 2017 financial year of € 1.00 per share will be proposed to the General Meeting of Shareholders on 9 May 2018 (2016: € 1.00). An interim dividend of € 0.25 per share has already been distributed in December 2017
  • 2018 will feature the multi-year plan ‘Fast Forward’
  • The 2017 annual report will be available online from 20 March 2018

Henk van der Kwast, Chief Executive Officer:

After two relatively good years, 2017 closed with a lower but once again clearly positive result. There were much higher expectations for 2017, given the economic developments in the Netherlands. Although the car market recovered to virtually the traditional replacement level in 2017, margins were subject to heavy pressure, especially for Dealergroup Stern. This was due among other things to the strong increase in private lease, which has increased the market strength of lease companies, and intense competition in the used-car market. These developments clearly show that our strategy of increasing our focus on financial mobility products and car services is the right choice.
Stern has now been on the road for 25 years. From a single Opel dealership in Amsterdam, we have grown into one of the largest automotive groups in the Netherlands. We are proud of this achievement. However, we have further ambitions. Improvement and renewal projects have been initiated to give a strong boost to our transformation from a large car dealer holding into a modern mobility group. The Fast Forward strategic plan also includes the digital transformation of the company as a priority. We expect the first results of this to become visible in the course of 2018.

Press here for the press release dated 08 March 2018 in English

Klik hier voor de pdf van het volledige persbericht d.d. 08 maart 2018