Rapid recovery in the tourism sector after the pandemic helped Centauro Car Rental push turnover up by more than 26% in the last year, delivering about 35% in overall benefits. This improvement is documented in the consolidated accounts filed with the Commercial Registry of Sildoscan Spain SL, the parent company of the Finestrat-based group, which shows a solid development trajectory for the firm.
Thus, even though normalization was not yet complete in the first months of the year, the group’s subsidiary Mutual Madrid closed 2022 with revenue of 138.2 million euros, surpassing the 119 million euro target set before the downturn caused by the coronavirus pandemic. The year’s performance indicates that the business momentum remained strong, even as external challenges persisted.
Among the drivers of these results was the company’s resilience to vehicle-supply disruptions that affected many peers last year. Large segments of European auto production were halted by the global microchip shortage, an issue that constrained options for travelers and influenced demand for rentals at popular destinations. The supply constraints also contributed to price increases across the sector, helping to sustain margins even as volumes fluctuated.
As a result, the group reported a marked improvement in profitability alongside revenue growth. Consolidated profit reached 28.4 million euros, up from 21 million the previous year and reversing a roughly 14 million euro dip seen in 2020.
International expansion
Positive results were achieved across all markets where Centauro operates. The Spanish subsidiary, which remains the group’s largest unit with 27 branches by year-end, contributed 14.4 million euros to the group’s results. On the international front, Portugal, where the company has operated since 2016, posted a profit exceeding six million euros. Italy, currently home to ten establishments, delivered a comparable level of earnings, while Greece, with five stores, added about 1.8 million euros to the consolidated profits.
Last year the company opened three new stores, and the balance sheet shows the total workforce rising to 46 employees with the average number of staff increasing from 317 to 385. This staffing growth reflects a strategic push to support expanding operations and improve service levels across locations.
Mutua Madrileña takes control of Centauro’s board after acquisition
Centauro has long stood as one of the leading operators in the car rental sector. Founded in 1973 and headquartered in Finestrat, the company was fully positioned for growth when, in 2017, 80 percent of its shares were sold to the Portobello Capital fund. The subsequent transfer of shares to Grupo Mutua Madrileña marked a strategic move by the insurer to diversify its portfolio and broaden its mobility offerings, signaling a shift toward integrated mobility solutions that combine rental services with broader transportation options.