1. Localiza Rent a Car S.A.
2Q05 Results Presentation
August 10, 2005
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2. 2Q05 Highlights
8.5% increase in Net Income (R$31.4 million) when compared to 2Q04
and EPS of R$0.50.
EBITDA (R$ 59.5 million) 35% higher than those recorded in 2Q04.
43% growth in the business volume of car rental segment.
12% growth in the business volume of fleet rental segment.
Conclusion of debentures issuance in the amount of R$350 million.
Initial Public Offering concluded in June 23, with 36.9% of total and
voting capital distributed at a price of R$11.50 per share.
Hiring of Pactual CTVM to act as a market maker for our shares.
Payment of interest on own capital, totaling R$12.0 million, which
corresponds to R$0.19 per share,
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3. Company Overview
#1 operating in Brazil with 91 corporate owned branches
Segments: Individuals, Corporate, Travel Industry, Replacement,
Mini Lease
Largest fleet in Brazil: 20,877 cars
EBITDA Share: 60%
Core Business
Presence in 8 countries: Brazil, Argentina, Bolivia, Chile,
Ecuador, México, Paraguay e Uruguay
216 franchised agencies, with a fleet of 7,293 cars
EBITDA Share: 1%
#1 operating in Brazil with a fleet of 10,514 cars
Approximately 200 corporate clients
EBITDA Share: 39%
Support
High volume retainer of used cars in Brazil
13 points of sale located in the country’s largest cities
9,856 sold cars in the first half of 2005 (76.8% to final costumers)
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4. Financial Highlights
(R$ million, USGAAP)
Net Revenue EBITDA
+45% 18% +34 %
CAGR: +
5%
CAGR: +1
210
203 59
152
634 150
139
532 44
477
2002 2003 2004 2Q04 2Q05 2002 2003 2004 2Q04 2Q05
Net Income Net Debt
84 %
CAGR: + + 46%
19 %
CAGR: + 367
106
+ 9% 281
91
251
197
31
69*
64* 29
87
27
2002 2003 2004 2Q04 2Q05 2003 2004 2005 1Q05 2Q05
* Pro forma result disregarding mark-to-market (MTM) of derivatives
contracts. In this case, CAGR would be 19%
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5. Operating Performance
Utilization Rate
Net Revenue EBITDA
(R$ million, USGAAP)
153
1%
10
+
-15 p.p.
95 70
70
76
57%
55
Car Sales 34 36
39%
23
58
42
Car Rental
2Q04 2Q05 2Q04 2Q05 2Q04 2Q05
+2p.p.
- 22%
99
97
61
48
10%
Car Sales 30 13
10% 23
21
35
Fleet Rental 32
2Q04 2Q05
2Q04 2Q05
2Q04 2Q05
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6. 2Q05 EBITDA per Segment
(R$ million, USGAAP)
Margin
29%
Total %
0.8 59
23 1%
39%
36
60%
Car Rental Fleet Management Franchising Total 100%
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7. Advertising and Selling Expenses
(R$ million, USGAAP)
% 15.5
+52
6.7
10.2
Used Cars 4.6 1.0
Fleet Rental 1.1
7.8
Car Rental 4.5
2Q04 2Q05
Margin
7.6%
7.3%
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8. Net Income Breakdown
(R$ million, USGAAP)
Car Rental and
Car Rental and
Used Car Sales
Used Car Sales
Operating
Net Revenues
Expenses
+63.4
Other Total
Expenses
Depreciation Net Taxes
Financial
-47.4 -0.7 Result 4.7
-10.3
-7.1 31.4
28.9 +8.5%
Net Income Net Income
2Q04 2Q05
Net Margin: 20.7% Net Margin: 15.5%
Earnings per Share: R$1.88* Earnings per Share: R$0.50
(*) Pro-forma income would be 0.47/share without the 4:1 split, 8

9. Income Before Taxes per Segment
(1H04 / 1H05)
(R$ million, USGAAP)
Fleet Total
+11%
80
72
+40%
+4 %
56
48
46
40
42%
36% 19%
25%
45%
45% 71% 70%
+67%
1 1
1H04 1H05
1H04 1H05
1H04 1H05 1H04 1H05 1H04 1H05
-11% -11%
(15)
Net Margin (25)
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10. Investment in Fleet (Quarterly)
# of Purchased
Investment in Fleet (1) Investment in Fleet (1)
Cars
(R$ million, USGAAP) (R$ million, USGAAP)
2Q05 2Q04
295 11,821
1H05
Localiza 186.5 60.4
Total Fleet 44.3 25.7
493 22,182
2004
1.4 1.0
Acessories
15,062
2003 288
232.2 87.1
Total
2002 11,758
215
Average Price (R$ thousands)
Purchased Cars Sold Cars
2001 15,364
248
+12.7%
+29.3%
24.9
22.9
2000 186 11,811 22.1
17.7
(1) Including acessories
2Q04 2Q05 2Q04 2Q05
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11. Fleet Rental Evolution
Fleet at the end of the period
+83%
5%
CAGR: +2 20,877
19,531
12,590
11,379
12,418
2002 2003 2004 2Q04 2Q05
Fleet Rental and Managed at the end of the period
CAGR: -5%
+24%
11,349
10,879
10,514
9,793
8,501
2002 2003 2004 2Q04 2Q05
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12. Used Car Sales
Number of Cars Sold Average Fleet Age (months) Car Rental
Fleet Management
21.4
15,715
15,468 18.9
13,331
16.4
10,430 15.4
9,856 14.2
11.0
6,173
7.9 7.0
6.1 6.1 5.3 5.4
2000 2001 2002 2003 2004
2000 2001 2002 2003 2004 1S05 2Q05
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13. Costs from Fleet
(R$ million, USGAAP)
2Q05 2Q04
Depreciated Cost from Vehicles Sold
74.5 26.6
Localiza
Total Fleet 10.3 24.4
84.8 51.0
17.1 11.3
Financial Expenses
Depreciation, Advertising, IPVA (Tax on the
Property of Motor Vehicle), Management, etc. 11.7 2.8
113.6 59.5
Less: Car Sales Revenues (108.3) (64.4)
Costs from Fleet 5.3 4.9
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14. Net Debt* / Fleet Value
*excluding short-term credits
59.1% 60.1% 57.6%
57.4% 51.8%
53.1%
47.3%
44.1%
41.3%
23.7%
2002 2003 2004 1Q05 2Q05
1997 1998 1999 2000 2001
Our Net Debt/Fleet Value ratio has remained stable around 50%
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15. Industry Benchmarks – LTM 2Q05 (1)
143(2)
EBITDA (US$ MM) 91(2) 326(2)
2,471 447
EBITDA Margin 32.2% 33.2% 30.2% 11.1% 9.8%
(4)(2)
31(2)
37(2)
Net Income 51
393
(US$ MM)
Net Margin 13.0% 5.3% 3.4% 1.1% -0.3%
P/E 2005(3) (x) n.d. n.d. 13.7 14.4 23.3
EV/EBITDA(3) (x) n.d. n.d. 6.1 4.3 4.0
RENT3 Performance since IPO: +26% (4) Trading Volume – Average Daily: R$2.8
million (4)
RENT 3 Relative Performance x IBOV: +17% (4)
(1) LTM Jun 05 (Localiza, Dollar Thrifty); LTM Mar 05 (Hertz, Sixt and Avis Europe)
(2) Translated to US Dollars at average rate R$2.729 / US$1.00 and €0.805 / US$1.00
(3) P/E= considering the stock Price as of August 4 and EPS supplied by First Call
(4) From May 23 (Initial Public Offering date) to August 4, 2005
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16. Disclaimer - Forward Looking Statements
The material that follows is a presentation of general background information about LOCALIZA
as of the date of the presentation. It is information in summary form and does not purport to be complete.
It is not intended to be relied upon as advice to potential investors. No representation or warranty, express
or implied, is made concerning, and no reliance should be placed on, the accuracy, fairness, or
completeness of the information presented herein.
This presentation contains statements that are forward-looking within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking
statements are only predictions and are not guarantees of future performance. Investors are cautioned
that any such forward-looking statements are and will be, as the case may be, subject to many risks,
uncertainties and factors relating to the operations and business environments of LOCALIZA and its
subsidiaries that may cause the actual results of the companies to be materially different from any future
results expressed or implied in such forward-looking statements.
Although LOCALIZA believes that the expectations and assumptions reflected in the forward-looking
statements are reasonable based on information currently available to LOCALIZA’s management,
LOCALIZA cannot guarantee future results or events. LOCALIZA expressly disclaims a duty to update
any of the forward-looking statement.
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