Europcar Pulls Earnings Forecast Amid Resurgent Virus in Europe
- Second wave of pandemic forces management to scrap guidance
- Company to raise funds as part of the financial restructuring
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New restrictions imposed across Europe to curb the spread of Covid-19 forced Europcar Mobility Group to withdraw its earnings guidance for the remainder of this year, with the firm anticipating a return to pre-virus trading only by 2023.
The French car rental group pulled its prediction for the 2020 financial year “due to the uncertainties derived from the second wave” of the virus, it said in a statement on Monday as it presented its third quarter results.