Localiza Rent a Car S.A. released its 3Q12 and 9M12 results. Some key highlights include:
- Net revenues for the car rental division increased 12.2% in 3Q12 compared to 3Q11. Fleet rental division revenues grew 16.4%.
- Consolidated net revenues increased 6.5% to R$807 million in 3Q12. The number of car rental locations in Brazil grew by 29 to 464.
- Fleet investment resumed with the addition of 3,747 cars in 3Q12 to meet demand. The utilization rate was maintained above 70%.
- Rental revenues grew 13.6% in 3Q12 while used
Localiza Rent a Car reported financial results for the first quarter of 2012 with the following highlights:
- Revenue grew 16.9% to R$774.7 million driven by a 17.8% increase in rental revenues.
- EBITDA increased 12.8% to R$210 million due to revenue growth partially offset by lower margins in the car rental division.
- Net income increased 14.3% to R$72.7 million outpacing the growth in EBITDA due to improved performance below the EBITDA line.
Localiza Rent a Car reported financial results for the first quarter of 2012 with several highlights:
- Revenue grew 16.4% compared to the first quarter of 2011 to R$774.7 million driven by a 17.8% increase in rental revenues.
- EBITDA increased 12.8% to R$210 million compared to the first quarter of 2011.
- Net income grew 14.3% to R$72.7 million compared to the first quarter of 2011.
Localiza Rent a Car reported financial results for the first quarter of 2013, with some key highlights:
1) Net revenue from car rentals increased slightly to R$283 million, while net revenue from fleet outsourcing grew 9% to R$142 million.
2) Consolidated net income increased 22% to R$89 million, with spreads remaining stable.
3) The car rental fleet was reduced by only 585 vehicles in the quarter, a much smaller reduction than the 4,562 vehicles sold in the first quarter of 2012, as economic growth was more moderate.
Localiza Rent a Car S.A. reported its results for the third quarter of 2011. Key highlights include:
- Daily rentals increased 23.4% compared to the third quarter of 2010, driven by growth in both the car rental and fleet rental divisions.
- Net revenues grew 15% compared to the third quarter of 2010, with increases in both rental volumes and average rental rates.
- EBITDA grew 30.7% compared to the first nine months of 2010, outpacing the growth in rental revenues.
- Net income was relatively flat compared to the third quarter of 2010, as the impact of higher interest rates offset gains in rental revenues and EBITDA.
Localiza Rent a Car S.A. reported strong financial results for 4Q11 and full year 2011. Net revenues grew 16.9% in 2011 to R$2.9 billion, while consolidated EBITDA increased 26.5% to R$821 million. The company's car and fleet rental divisions both experienced significant growth in daily rentals and revenues over the past six years. Localiza also increased its fleet size by over 18,000 vehicles in 2011 through continued investment in its business.
Localiza reported financial results for the first quarter of 2011. Net revenues increased 23.3% compared to the first quarter of 2010. EBITDA grew 41% and net income increased 30.3%. Both the car rental and fleet rental divisions saw strong growth in daily rentals and net revenues. Localiza continued its strategy of growing its fleet, increasing the number of cars in its fleet by 19.4% compared to the first quarter of 2010. In accordance with IFRS rules, net revenues are reported net of taxes on revenues, unlike US GAAP. The adjustments do not impact EBITDA or net income.
9 M2007 Results And Strategic Update On RussiaEnel S.p.A.
The document provides financial highlights from Enel SpA for the first 9 months of 2007:
- Revenues increased slightly by 0.5% to €28.76 billion while EBITDA rose 7.1% to €6.711 billion. EBIT, however, declined by 2.7% to €4.751 billion.
- Net debt increased substantially by 111.9% to €24.769 billion as of December 31, 2006.
- EBITDA from the domestic market division rose due to higher results from the regulated market, while international EBITDA increased mainly from Iberia and South-Eastern Europe.
Localiza's flexible business model proved effective during the economic crisis period. In the 4th quarter of 2009, Localiza resumed revenue and profit growth. For the full year 2009, Localiza's net revenue was stable while EBITDA declined 6.8% and net income declined R$11.1 million compared to 2008. Localiza has continued expanding its car rental network during the crisis, growing its number of locations.
Localiza Rent a Car reported financial results for the first quarter of 2012 with the following highlights:
- Revenue grew 16.9% to R$774.7 million driven by a 17.8% increase in rental revenues.
- EBITDA increased 12.8% to R$210 million due to revenue growth partially offset by lower margins in the car rental division.
- Net income increased 14.3% to R$72.7 million outpacing the growth in EBITDA due to improved performance below the EBITDA line.
Localiza Rent a Car reported financial results for the first quarter of 2012 with several highlights:
- Revenue grew 16.4% compared to the first quarter of 2011 to R$774.7 million driven by a 17.8% increase in rental revenues.
- EBITDA increased 12.8% to R$210 million compared to the first quarter of 2011.
- Net income grew 14.3% to R$72.7 million compared to the first quarter of 2011.
Localiza Rent a Car reported financial results for the first quarter of 2013, with some key highlights:
1) Net revenue from car rentals increased slightly to R$283 million, while net revenue from fleet outsourcing grew 9% to R$142 million.
2) Consolidated net income increased 22% to R$89 million, with spreads remaining stable.
3) The car rental fleet was reduced by only 585 vehicles in the quarter, a much smaller reduction than the 4,562 vehicles sold in the first quarter of 2012, as economic growth was more moderate.
Localiza Rent a Car S.A. reported its results for the third quarter of 2011. Key highlights include:
- Daily rentals increased 23.4% compared to the third quarter of 2010, driven by growth in both the car rental and fleet rental divisions.
- Net revenues grew 15% compared to the third quarter of 2010, with increases in both rental volumes and average rental rates.
- EBITDA grew 30.7% compared to the first nine months of 2010, outpacing the growth in rental revenues.
- Net income was relatively flat compared to the third quarter of 2010, as the impact of higher interest rates offset gains in rental revenues and EBITDA.
Localiza Rent a Car S.A. reported strong financial results for 4Q11 and full year 2011. Net revenues grew 16.9% in 2011 to R$2.9 billion, while consolidated EBITDA increased 26.5% to R$821 million. The company's car and fleet rental divisions both experienced significant growth in daily rentals and revenues over the past six years. Localiza also increased its fleet size by over 18,000 vehicles in 2011 through continued investment in its business.
Localiza reported financial results for the first quarter of 2011. Net revenues increased 23.3% compared to the first quarter of 2010. EBITDA grew 41% and net income increased 30.3%. Both the car rental and fleet rental divisions saw strong growth in daily rentals and net revenues. Localiza continued its strategy of growing its fleet, increasing the number of cars in its fleet by 19.4% compared to the first quarter of 2010. In accordance with IFRS rules, net revenues are reported net of taxes on revenues, unlike US GAAP. The adjustments do not impact EBITDA or net income.
9 M2007 Results And Strategic Update On RussiaEnel S.p.A.
The document provides financial highlights from Enel SpA for the first 9 months of 2007:
- Revenues increased slightly by 0.5% to €28.76 billion while EBITDA rose 7.1% to €6.711 billion. EBIT, however, declined by 2.7% to €4.751 billion.
- Net debt increased substantially by 111.9% to €24.769 billion as of December 31, 2006.
- EBITDA from the domestic market division rose due to higher results from the regulated market, while international EBITDA increased mainly from Iberia and South-Eastern Europe.
Localiza's flexible business model proved effective during the economic crisis period. In the 4th quarter of 2009, Localiza resumed revenue and profit growth. For the full year 2009, Localiza's net revenue was stable while EBITDA declined 6.8% and net income declined R$11.1 million compared to 2008. Localiza has continued expanding its car rental network during the crisis, growing its number of locations.
Locamerica reported strong financial results for 1Q12. Net profit increased 47.3% over 1Q11 to R$7.9 million, with net margins reaching 10.5%. ROIC for the last twelve months was 15.0%, an increase of 2.8 percentage points over 1Q11. Consolidated revenues grew 39.4% to R$272.5 million, with rental revenues increasing 18.5% to R$75.1 million and used car sales revenues rising 26.4% to R$19.8 million. EBITDA soared 47.6% to R$45.9 million and operating margins reached historical highs for the company in 1Q12.
Localiza Rent a Car S.A. presented strong results for the third quarter of 2008. The company grew its average rented fleet by 33.4% compared to the same period last year. Revenues increased 38.6% to R$1.5 billion driven by growth in both car rentals and used car sales. EBITDA grew 31.2% to R$403.5 million and net income increased 17.1% to R$157.2 million, maintaining the company's profitability. The increase in fleet size led to a rise in net debt, but the company will reduce fleet purchases and debt in the fourth quarter.
This document summarizes the business of Localiza, an integrated vehicle rental company in Brazil. It outlines Localiza's competitive advantages including its large scale, network of locations, and synergies across business units. The document also reviews Localiza's financial performance, showing consistent growth and profitability above industry levels. It identifies opportunities for further expansion through organic growth and industry consolidation. Brazil's improving macroeconomic conditions and trends of increasing consumption and investment are expected to drive continued growth in the vehicle rental market.
This document provides an overview of a company's integrated business platform, financial performance, growth track record, management structure, and strategy. Key points include:
1) The company operates in the car rental and sales industry with over 4,000 employees across hundreds of locations in Brazil and South America.
2) Financially, the car rental division generates higher margins than the used car sales division on an annual cycle, while fleet rental generates higher margins than used car sales on a two-year cycle.
3) Over the past decade the company has achieved strong and consistent revenue and profitability growth through expanding its operations, pricing strategy, and managing its assets efficiently.
This document summarizes presentations made to the Kansas Lottery Gaming Facility Review Board on September 3, 2008. It includes details on Pinnacle Entertainment's proposal for a $650 million casino resort in Kansas, including their plans to fund the project through existing cash, credit facilities, and future cash flows. It also reviews Pinnacle's financial performance and leverage, experience operating casinos, and alternatives for financing their current development pipeline.
100804 apresentação de resultados 2 t10-inglês_sem script [modo de compatib...Multiplus
Multiplus reported strong financial and operating results for 2Q10. Members grew 4.1% to 7.2 million while points issued and redeemed increased 16.8% and 143.3% respectively. Net revenue jumped 129.2% to R$93.5 million and net income soared 209.2% to R$23.1 million. Multiplus maintained high corporate governance standards and continued expanding its partnership network, positioning it for continued high growth potential.
Localiza Rent a Car reported strong results for 1Q08, with net revenue up 16.6% to R$470.5 million and EBITDA increasing 23.2% to R$120.9 million. The company's average rented fleet grew 27.8% to 35,817 vehicles while daily car rentals were up 18% to 28,022. Free cash flow was negatively impacted by a R$89.3 million reduction in the vehicle supplier account, but excluding this would be R$36.2 million for 1Q08.
Localiza Rent a Car reported financial results for the fourth quarter and full year of 2012. Net revenues for the car rental division increased 8.1% in 4Q12 compared to 4Q11, while net revenues for the fleet rental division increased 12.3% over the same period. Full year 2012 net income was R$240.9 million, representing a 17.4% decrease from 2011 net income of R$291.6 million, primarily due to additional depreciation from a lower IPI tax rate. Free cash flow before growth and interest was R$528.5 million for 2012, an increase of 27.2% over 2011.
Banco ABC - 1st Quarter 2008 Results PresentationBanco ABC Brasil
The document provides an overview of Banco ABC Brasil's 1Q08 results. Key highlights include:
- Loan portfolio reached R$5.779 billion, up 15.8% from 4Q07 and 80.9% from 1Q07.
- 99.4% of loans rated AA-C, similar to prior periods.
- Net income up 106.4% to R$38 million from 1Q07.
- Moody's assigned investment grade ratings to Banco ABC Brasil of Baa2/P-2.
Imperial reported an 18% increase in revenue and a 12% increase in operating profit for the first six months of fiscal year 2013. While most divisions performed well, logistics divisions faced challenging conditions in South Africa and Europe. The automotive retail and aftermarket parts divisions achieved strong growth. Overall, the results represent a good performance despite difficult market conditions in some areas.
This presentation discusses LAN's financial results for the fourth quarter and full year of 2008. Some key points:
- For 2008, LAN saw a 28.6% increase in revenues and an 8.9% growth in capacity, with an EBITDAR margin of 19.2% excluding fuel hedging gains.
- For the fourth quarter of 2008, LAN had a 76.2% increase in operating income and a 48.3% increase in EBITDAR, driven by higher yields and lower fuel costs. The EBITDAR margin reached 27.3%.
- LAN's passenger business saw a 21.5% increase in revenues for 4Q08 from a 10.
Brunswick Corporation reported lower financial results in 2006 compared to 2005 due to declines in the U.S. recreational marine market. Net sales increased 1% to $5.7 billion while earnings per share decreased 26% to $2.78. Despite lower earnings, Brunswick generated $153 million in free cash flow and returned $251 million to shareholders through dividends and share repurchases. Brunswick aims to improve its business through strategies focused on product innovation, distribution excellence, cost leadership, global expansion, and talent development. The company made investments in 2006 to enhance products across its business segments.
The 2001 annual report discusses Group 1 Automotive's record financial and operational results for the year. Revenues increased 11% to over $3.9 billion while earnings per share grew 38% to $2.59. The company benefited from a diversified revenue mix, with 40% of revenues and 85% of profits coming from areas other than new vehicle sales. Going forward, Group 1 plans to pursue additional acquisitions to take advantage of opportunities in the automotive retailing industry.
This annual report summarizes Santander Group's performance in 2010. Some key highlights include:
- Total assets grew 9.6% to €1.22 trillion and customer loans grew 6.1% to €724 billion.
- Attributable profit to the Group declined 8.5% to €8.18 billion, as profit from continuing operations fell 3.2% to €9.13 billion.
- The Group has a presence across Europe, Latin America, and the United States, with over 14,000 branches and 178,000 employees worldwide.
Northern Trust Corporation's 2006 annual report summarizes the company's financial performance and strategic initiatives. In 2006, Northern Trust achieved record financial results with net income of $665 million, up 14% from 2005. Total revenues increased 14% to $3.06 billion. The company also made progress on key strategic priorities including expanding blended investment solutions, growing adoption of its WealthPassport technology, and completing major acquisitions and migrations of client assets. Northern Trust positioned itself for continued growth by strengthening its presence in high-growth markets like Asia-Pacific and developing new client relationships.
Citigroup reported financial results for the third quarter of 2008. Net income decreased significantly compared to the third quarter of 2007, dropping from $2.2 billion to a $2.8 billion loss. Total revenues declined 23% versus the prior year. The provision for loan losses increased 86% to $9.1 billion due to higher credit costs. Expenses rose modestly while assets and loans declined year-over-year. Overall, Citigroup experienced weak results across business segments as the financial crisis impacted performance.
Localiza Rent a Car S.A. provides an integrated business platform across Brazil and South America with over 63,500 vehicles, 28,654 clients, and 3,641 employees. The company has opportunities for growth through infrastructure investments, economic expansion increasing the middle class and consumption, and consolidation of the fragmented rental car market. Localiza maintains competitive advantages through its experience, brand recognition, financing capabilities, nationwide network of locations, and efficient used car sales model.
The document discusses near-Earth objects such as asteroids and comets that pose a potential hazard to Earth, noting that over 8,000 near-Earth objects have been discovered so far, including over 1,200 that are considered potentially hazardous asteroids due to their close orbital approaches to Earth. It also provides background on the composition, origins, and properties of asteroids, comets, meteoroids and related small solar system bodies.
School-linked collaborative projects for Witing Skills Developmentnamasl
Natalya Maslova presented on using school-linked collaborative projects to develop writing skills. She discussed partnering students from 9 countries using ePals, which resulted in over 1500 emails in the first year and over 2000 emails the following year. The projects included blog posts, international competitions, book projects, and postcard exchanges. Maslova emphasized publishing student work and noted the lasting impact of what teachers write on the "blackboard of life."
Chemokine (C-X-C) ligand 1 (CXCL1) protein expression is increased in aggress...Enrique Moreno Gonzalez
This study examined CXCL1 protein expression in 152 bladder tissue samples, including 142 cancer samples and 10 benign samples, using immunohistochemical staining. The key findings were:
1) CXCL1 protein expression was present in cancerous bladder tissues but entirely absent in benign bladder tissues.
2) CXCL1 expression was significantly higher in high-grade and high-stage tumors compared to low-grade and low-stage tumors.
3) Increased CXCL1 expression was associated with reduced disease-specific survival and overall survival.
So in summary, this study found that CXCL1 protein expression is increased in more aggressive bladder cancers and associated with poorer survival outcomes. This suggests CXCL1 may play a
5 người con đề nghị tử hình cha đẻ
.(ĐVO) Khi VKS đề nghị mức án chung thân với bị cáo nhưng các con đẻ của bị cáo (đại diện cho bên bị hại) đã không đồng tình mà đề nghị Hội đồng xét xử
Locamerica reported strong financial results for 1Q12. Net profit increased 47.3% over 1Q11 to R$7.9 million, with net margins reaching 10.5%. ROIC for the last twelve months was 15.0%, an increase of 2.8 percentage points over 1Q11. Consolidated revenues grew 39.4% to R$272.5 million, with rental revenues increasing 18.5% to R$75.1 million and used car sales revenues rising 26.4% to R$19.8 million. EBITDA soared 47.6% to R$45.9 million and operating margins reached historical highs for the company in 1Q12.
Localiza Rent a Car S.A. presented strong results for the third quarter of 2008. The company grew its average rented fleet by 33.4% compared to the same period last year. Revenues increased 38.6% to R$1.5 billion driven by growth in both car rentals and used car sales. EBITDA grew 31.2% to R$403.5 million and net income increased 17.1% to R$157.2 million, maintaining the company's profitability. The increase in fleet size led to a rise in net debt, but the company will reduce fleet purchases and debt in the fourth quarter.
This document summarizes the business of Localiza, an integrated vehicle rental company in Brazil. It outlines Localiza's competitive advantages including its large scale, network of locations, and synergies across business units. The document also reviews Localiza's financial performance, showing consistent growth and profitability above industry levels. It identifies opportunities for further expansion through organic growth and industry consolidation. Brazil's improving macroeconomic conditions and trends of increasing consumption and investment are expected to drive continued growth in the vehicle rental market.
This document provides an overview of a company's integrated business platform, financial performance, growth track record, management structure, and strategy. Key points include:
1) The company operates in the car rental and sales industry with over 4,000 employees across hundreds of locations in Brazil and South America.
2) Financially, the car rental division generates higher margins than the used car sales division on an annual cycle, while fleet rental generates higher margins than used car sales on a two-year cycle.
3) Over the past decade the company has achieved strong and consistent revenue and profitability growth through expanding its operations, pricing strategy, and managing its assets efficiently.
This document summarizes presentations made to the Kansas Lottery Gaming Facility Review Board on September 3, 2008. It includes details on Pinnacle Entertainment's proposal for a $650 million casino resort in Kansas, including their plans to fund the project through existing cash, credit facilities, and future cash flows. It also reviews Pinnacle's financial performance and leverage, experience operating casinos, and alternatives for financing their current development pipeline.
100804 apresentação de resultados 2 t10-inglês_sem script [modo de compatib...Multiplus
Multiplus reported strong financial and operating results for 2Q10. Members grew 4.1% to 7.2 million while points issued and redeemed increased 16.8% and 143.3% respectively. Net revenue jumped 129.2% to R$93.5 million and net income soared 209.2% to R$23.1 million. Multiplus maintained high corporate governance standards and continued expanding its partnership network, positioning it for continued high growth potential.
Localiza Rent a Car reported strong results for 1Q08, with net revenue up 16.6% to R$470.5 million and EBITDA increasing 23.2% to R$120.9 million. The company's average rented fleet grew 27.8% to 35,817 vehicles while daily car rentals were up 18% to 28,022. Free cash flow was negatively impacted by a R$89.3 million reduction in the vehicle supplier account, but excluding this would be R$36.2 million for 1Q08.
Localiza Rent a Car reported financial results for the fourth quarter and full year of 2012. Net revenues for the car rental division increased 8.1% in 4Q12 compared to 4Q11, while net revenues for the fleet rental division increased 12.3% over the same period. Full year 2012 net income was R$240.9 million, representing a 17.4% decrease from 2011 net income of R$291.6 million, primarily due to additional depreciation from a lower IPI tax rate. Free cash flow before growth and interest was R$528.5 million for 2012, an increase of 27.2% over 2011.
Banco ABC - 1st Quarter 2008 Results PresentationBanco ABC Brasil
The document provides an overview of Banco ABC Brasil's 1Q08 results. Key highlights include:
- Loan portfolio reached R$5.779 billion, up 15.8% from 4Q07 and 80.9% from 1Q07.
- 99.4% of loans rated AA-C, similar to prior periods.
- Net income up 106.4% to R$38 million from 1Q07.
- Moody's assigned investment grade ratings to Banco ABC Brasil of Baa2/P-2.
Imperial reported an 18% increase in revenue and a 12% increase in operating profit for the first six months of fiscal year 2013. While most divisions performed well, logistics divisions faced challenging conditions in South Africa and Europe. The automotive retail and aftermarket parts divisions achieved strong growth. Overall, the results represent a good performance despite difficult market conditions in some areas.
This presentation discusses LAN's financial results for the fourth quarter and full year of 2008. Some key points:
- For 2008, LAN saw a 28.6% increase in revenues and an 8.9% growth in capacity, with an EBITDAR margin of 19.2% excluding fuel hedging gains.
- For the fourth quarter of 2008, LAN had a 76.2% increase in operating income and a 48.3% increase in EBITDAR, driven by higher yields and lower fuel costs. The EBITDAR margin reached 27.3%.
- LAN's passenger business saw a 21.5% increase in revenues for 4Q08 from a 10.
Brunswick Corporation reported lower financial results in 2006 compared to 2005 due to declines in the U.S. recreational marine market. Net sales increased 1% to $5.7 billion while earnings per share decreased 26% to $2.78. Despite lower earnings, Brunswick generated $153 million in free cash flow and returned $251 million to shareholders through dividends and share repurchases. Brunswick aims to improve its business through strategies focused on product innovation, distribution excellence, cost leadership, global expansion, and talent development. The company made investments in 2006 to enhance products across its business segments.
The 2001 annual report discusses Group 1 Automotive's record financial and operational results for the year. Revenues increased 11% to over $3.9 billion while earnings per share grew 38% to $2.59. The company benefited from a diversified revenue mix, with 40% of revenues and 85% of profits coming from areas other than new vehicle sales. Going forward, Group 1 plans to pursue additional acquisitions to take advantage of opportunities in the automotive retailing industry.
This annual report summarizes Santander Group's performance in 2010. Some key highlights include:
- Total assets grew 9.6% to €1.22 trillion and customer loans grew 6.1% to €724 billion.
- Attributable profit to the Group declined 8.5% to €8.18 billion, as profit from continuing operations fell 3.2% to €9.13 billion.
- The Group has a presence across Europe, Latin America, and the United States, with over 14,000 branches and 178,000 employees worldwide.
Northern Trust Corporation's 2006 annual report summarizes the company's financial performance and strategic initiatives. In 2006, Northern Trust achieved record financial results with net income of $665 million, up 14% from 2005. Total revenues increased 14% to $3.06 billion. The company also made progress on key strategic priorities including expanding blended investment solutions, growing adoption of its WealthPassport technology, and completing major acquisitions and migrations of client assets. Northern Trust positioned itself for continued growth by strengthening its presence in high-growth markets like Asia-Pacific and developing new client relationships.
Citigroup reported financial results for the third quarter of 2008. Net income decreased significantly compared to the third quarter of 2007, dropping from $2.2 billion to a $2.8 billion loss. Total revenues declined 23% versus the prior year. The provision for loan losses increased 86% to $9.1 billion due to higher credit costs. Expenses rose modestly while assets and loans declined year-over-year. Overall, Citigroup experienced weak results across business segments as the financial crisis impacted performance.
Localiza Rent a Car S.A. provides an integrated business platform across Brazil and South America with over 63,500 vehicles, 28,654 clients, and 3,641 employees. The company has opportunities for growth through infrastructure investments, economic expansion increasing the middle class and consumption, and consolidation of the fragmented rental car market. Localiza maintains competitive advantages through its experience, brand recognition, financing capabilities, nationwide network of locations, and efficient used car sales model.
The document discusses near-Earth objects such as asteroids and comets that pose a potential hazard to Earth, noting that over 8,000 near-Earth objects have been discovered so far, including over 1,200 that are considered potentially hazardous asteroids due to their close orbital approaches to Earth. It also provides background on the composition, origins, and properties of asteroids, comets, meteoroids and related small solar system bodies.
School-linked collaborative projects for Witing Skills Developmentnamasl
Natalya Maslova presented on using school-linked collaborative projects to develop writing skills. She discussed partnering students from 9 countries using ePals, which resulted in over 1500 emails in the first year and over 2000 emails the following year. The projects included blog posts, international competitions, book projects, and postcard exchanges. Maslova emphasized publishing student work and noted the lasting impact of what teachers write on the "blackboard of life."
Chemokine (C-X-C) ligand 1 (CXCL1) protein expression is increased in aggress...Enrique Moreno Gonzalez
This study examined CXCL1 protein expression in 152 bladder tissue samples, including 142 cancer samples and 10 benign samples, using immunohistochemical staining. The key findings were:
1) CXCL1 protein expression was present in cancerous bladder tissues but entirely absent in benign bladder tissues.
2) CXCL1 expression was significantly higher in high-grade and high-stage tumors compared to low-grade and low-stage tumors.
3) Increased CXCL1 expression was associated with reduced disease-specific survival and overall survival.
So in summary, this study found that CXCL1 protein expression is increased in more aggressive bladder cancers and associated with poorer survival outcomes. This suggests CXCL1 may play a
5 người con đề nghị tử hình cha đẻ
.(ĐVO) Khi VKS đề nghị mức án chung thân với bị cáo nhưng các con đẻ của bị cáo (đại diện cho bên bị hại) đã không đồng tình mà đề nghị Hội đồng xét xử
This document summarizes valuation and transaction trends in the US lodging industry from 2000-2015. It finds that after declining from 2000-2009, average hotel values per room have increased steadily since 2010. The highest values are currently in cities like New York, San Francisco, and Oahu. The document recommends buying hotels in growing markets like San Francisco, Phoenix, and Las Vegas now, but waiting until 2012-2013 to sell properties in areas like Albuquerque and St. Louis. It also suggests developing new hotels now if financing is available.
This document provides tips and strategies for efficient JavaScript development. It discusses writing code through coding style, editors, templates, and code analyzers. It also covers running code by addressing loading, environments, AJAX requests, and debugging. Debugging techniques include using debuggers, object inspection, isolating problems, and fixing code through trial and error, alerts/logging, and tuning.
Get Listed: Easy, one time listing opportunities to boost your SEO Megan Hargroder
Social media and SEO boosting through listing optimization and claiming your profiles - presentation by Megan Hargroder for the Louisiana Bar Association in September 2014.
Road to himalayas - motorcycle ride to himalayasroadtohimalayas
The document discusses a trip to the Himalayas. It describes leaving for the mountains in a jeep passing through small towns and villages along winding roads. Upon arriving, the vast snow-capped peaks of the Himalayas come into view, towering over the landscape as far as the eye can see.
Why people arere luct antto repor t work placebullyingNguyễn Thái
This blog provides tips and advice for search engine optimization (SEO) without spending any money. It offers guidance on on-page optimization techniques like keyword research, title tags, meta descriptions and internal linking to help websites rank higher organically in search engine results pages. Regular posts share the latest best practices and strategies for free SEO efforts to help drive more qualified traffic from search engines to websites.
Este documento contiene correspondencia de 7 padres de familia autorizando la asistencia de sus hijos a una excursión al zoológico el 30 de septiembre. Se proporcionan detalles como el lugar, hora, transporte, costo y elementos que deben llevar los niños. Cada carta incluye los datos personales del padre, hijo e información de emergencia.
Localiza Rent a Car reported record results for the 2nd quarter of 2010, with consolidated net revenue growth of 38.2% compared to the same period last year. Net income grew 112.2% year-over-year to a record R$57.5 million. EBITDA also reached a record at R$150.5 million, up 37.9% compared to 2Q09, as both the car rental and fleet rental divisions experienced strong growth. The company saw increases in both the number of cars purchased and sold during the quarter.
Localiza reported its 2Q12 and 1H12 results. Some highlights include an increase in used car sales for fleet renewal due to a tax reduction on new cars, utilization rates of 74.2% in car rentals, and free cash flow of R$242.3 million in 1H12. Daily rentals and revenues grew in both the car rental and fleet rental divisions. EBITDA margins declined in 2Q12 due to non-recurring expenses, while net income declined due to higher depreciation costs from the tax reduction.
Localiza, a vehicle rental company in Brazil, reported strong financial results for the first half and second quarter of 2011. Consolidated net revenues increased 25.4% year-over-year for the first half and 24.4% for the second quarter alone. Both the car rental and fleet rental divisions saw increased daily rentals and rental rates, contributing to revenue growth. EBITDA margins remained consistent between 33-36% across periods. Net income increased 29.6% for the first half compared to the previous year. Localiza continued expanding its used car sales network and fleet size to support ongoing revenue growth.
Localiza's flexible business model proved effective during the economic crisis period. While EBITDA declined 6.8% in 2009, net revenues were stable and net income declined only 8.7%. The fourth quarter saw a return to revenue and income growth, with net revenues up 30.4% and net income rebounding from a loss to a gain of R$38.4 million. Localiza's diversified fleet, integrated business platform, and focus on costs and asset management allowed it to maintain profitability and flexibility during the difficult economic environment.
1) Localiza reported record results for the third quarter of 2010, with consolidated net revenue increasing 52.2% compared to the third quarter of 2009.
2) EBITDA grew 53.7% versus the prior year period, also setting a record.
3) Net income increased dramatically by 263.6%, to a record R$74.9 million.
Localiza reported its fourth quarter 2010 results, showing significant growth across key metrics. Net revenue increased 37.4% year-over-year to R$2,551 million, with a 46.1% rise in EBITDA to R$188 million for the quarter. The company saw a 25.3% increase in its fleet size over the year and benefited from lower average depreciation costs. Localiza's strategies led to an 80.7% jump in quarterly net income to R$69 million. However, the company's net debt also grew by 18.8% to R$1,281 million as those funds were reinvested in expanding its fleet further.
1. Locamerica reported record operating margins and a 47.3% increase in net profit in 1Q12 compared to 1Q11.
2. Key financial metrics like ROIC, ROE, and EBITDA margins increased significantly from strong performance.
3. Revenues increased due to growth in the rental fleet size and daily rentals, while operating costs were well controlled.
CCR reported its 3Q12 earnings results. Net revenues increased 13.3% compared to 3Q11. EBITDA grew 4.5% to R$860.1 million despite a temporary contraction in EBITDA margin. Net income was up 18.9% to R$316.8 million, benefiting from lower financial expenses and debt refinancing. Traffic across CCR's concessions increased between 2.1-16.7% compared to 3Q11. The company also noted the conclusion of new business acquisitions in 3Q12 and subsequent events.
Localiza Rent a Car reported its 4Q12 and full year 2012 results. Key highlights include:
1) Net revenue from car rentals increased 7.9% in 4Q12 and 10.3% for the full year compared to the previous periods.
2) Net income increased 10.1% in 4Q12 and 11.1% for the full year.
3) Free cash flow before growth and interest increased 27.3% for the full year.
4) The company added 25 new rental locations in Brazil, expanding its footprint.
Localiza Rent a Car reported its 4Q12 and full year 2012 results. Key highlights include:
1) Net revenue from car rentals increased 7.8% in 4Q12 and 10.3% for the full year compared to the previous periods.
2) Net income increased 10.1% in 4Q12 and 11.3% for the full year.
3) The number of daily car rentals grew 6.1% in 4Q12 and 9.5% for the full year, while fleet rental daily transactions increased 5.3% and 10.6%, respectively.
- Localiza reported a 26.4% increase in net revenue and a 61.6% increase in net income for 1Q10 compared to 1Q09. Daily car rentals grew 21.4% while fleet size increased 15,791 vehicles.
- EBITDA margins remained stable across divisions. Depreciation per car fell again in 1Q10. Net debt was reduced by R$16.5 million despite a small fleet increase.
- The results demonstrate a return to high growth levels following the economic crisis, with strengthening demand across all business divisions.
- Localiza reported a 26.4% increase in net revenue and a 61.6% increase in net income for 1Q10 compared to 1Q09. Daily car rentals grew 21.4% while fleet size increased 15,791 vehicles.
- EBITDA margins remained stable across divisions. Depreciation per car fell again in 1Q10. Net debt was reduced by R$16.5 million despite a small fleet increase.
- The results demonstrate a return to high growth levels following the economic crisis, with strengthening demand across all business divisions.
Localiza Rent a Car reported its third quarter 2009 results. Revenues grew 2.4% in the car rental division due to an increase in daily rates. Revenue in the fleet rental division increased due to higher volumes and prices. The company continues expanding its network, opening 7 new locations in the car rental division and 20 new used car sales stores. EBITDA margins remained consistent across divisions, however net income declined 58.9% due to a drop in used car sales EBITDA and higher fleet depreciation from new models. Free cash flow before growth was R$205.7 million in the first nine months of 2009.
The document summarizes CCR's 2Q12 earnings results. Key highlights include an 11% increase in net revenues compared to 2Q11, a 13.4% increase in EBITDA with margins up 1.3 percentage points, and a 37.7% increase in net income. Traffic increased by 1.4% while electronic toll collections reached 67.4% of revenues. EBITDA margins expanded due to increased cash generation and cost reductions, including lower concession fees, personnel costs, and maintenance provisions.
This document provides an overview of a company's integrated business platform for car rentals and sales. It summarizes the company's operations, competitive advantages, financial performance, and growth track record. Key details include the company operating over 200 rental locations in Brazil and South America, with over 4,000 employees. The financial section shows the one-year and two-year rental cycles and margins achieved from rental and used car sales. The company aims to profit from managing its fleet of rental cars as assets. Finally, the summary highlights the company's stable management team and consistent revenue growth averaging 15.9% annually over the past decade.
The document discusses the company as an integrated business platform in the car rental industry in Brazil, highlighting its growth opportunities from investments in sectors driving demand, rising incomes increasing affordability, and an outsourcing trend providing opportunities in fleet rental. The company has leveraged these drivers through organic expansion of its network and pursuit of market share gains in a still consolidating industry.
The document discusses the drivers and growth opportunities for Localiza's car and fleet rental business. Strong investments in infrastructure, rising incomes, and increasing consumption are fueling demand for rental vehicles. Localiza is well positioned to capitalize on these trends through organic expansion of its network and pursuit of consolidation opportunities in the fragmented off-airport market.
Localiza Rent a Car reported strong results for 1Q08, with net revenue up 16.6% to R$470.5 million and EBITDA increasing 23.2% to R$120.9 million. The company's average rented fleet grew 27.8% to 35,817 vehicles while daily car rentals were up 18% to 28,022. Free cash flow was negatively impacted by a R$89.3 million reduction in the vehicle supplier account, but excluding this would be R$36.2 million for 1Q08.
Here you can find the annual report for the year 2011 of Volkswagen Financial Services AG. For further information please refer to http://www.vwfs.com/annualreport
This document discusses an integrated business platform and its car rental operations. It provides financial details for the company's car rental and fleet rental divisions over 1-year and 2-year cycles. The company manages a large fleet of cars and has a stable management team with succession planning. It has achieved strong revenue and profitability growth over time through its pricing strategy and focus on assets and profitability from its rental divisions.
Localiza is a Brazilian car rental company founded in 1973. It has grown to become the market leader through strategic acquisitions and expanding into new business divisions over time, including fleet rental, used car sales, and franchising. It has an integrated business platform with synergies across divisions. Localiza has several competitive advantages including its scale in purchasing cars, brand recognition, distribution network, and operational excellence. It aims to continue its strategy of innovation and providing higher value services to customers.
✓ Apresentação institucional de uma das principais locadoras de veículos do Brasil com valor de mercado de R$15,8 bilhões em 30/06/18
✓ Divisões de negócios incluem aluguel de carros, gestão de frotas, seminovos e franquias, com destaque para as divisões de aluguel e gestão de frotas
✓ Vantagens competitivas incluem liderança no mercado, aquisição de veículos em maior volume e melhores condições, e plataforma integrada de neg
Localiza is a Brazilian car rental company that presented at an investor relations presentation in July 2018. The presentation included sections on the company overview, main business divisions, financials, and appendix. Localiza operates in car rental, franchising, fleet rental, and used car sales. It has a market cap of US$4.1 billion and an integrated business platform that provides flexibility and superior performance. Localiza has competitive advantages through its scale in purchasing cars, market leadership in renting cars, and efficiency in selling used cars.
O documento fornece uma visão geral da Localiza, líder de mercado no setor de aluguel de veículos com valor de mercado de R$15,8 bilhões em 30/06/18. Apresenta os principais números da companhia, como uma frota de 208.552 veículos no 2T18, e R$3,6 bilhões em receita líquida no 1S18. Detalha também as vantagens competitivas da Localiza, como maior volume de compra de veículos que permite melhores condições de aquisição, e ampla presença
Localiza is a Brazilian car rental company that held an investor relations presentation in July 2018. The presentation included sections on the company overview, main business divisions, financials, and appendix. Localiza has grown significantly since being founded in 1973, currently has a market capitalization of $4.1 billion, and operates across multiple business divisions including car rental, fleet rental, used car sales, and franchising. The integrated business platform provides synergies and flexibility. Financial results show strong profitability, with the car rental and fleet rental divisions contributing most of the earnings. Localiza has several competitive advantages including scale, brand recognition, an efficient used car sales program, and innovation.
O documento fornece uma visão geral da Localiza, líder de mercado no setor de aluguel de veículos com valor de mercado de R$15,8 bilhões em 30/06/18. Apresenta os principais números da companhia, como uma frota de 208.552 veículos no 2T18, e R$3,6 bilhões em receita líquida no 1S18. Detalha também as vantagens competitivas da Localiza, como maior volume de compra de veículos que permite melhores condições, e liderança no aluguel de
- The company exceeded 200,000 vehicles in its fleet for the first time at the end of 2Q18, with 208,552 vehicles. Car rental and fleet rental volumes grew 47.9% and 21.4% respectively in 2Q18.
- Consolidated net revenues increased 29.3% in 2Q18. Excluding the impacts of a truck drivers' strike and payroll, EBITDA would have grown approximately 30% and net income 32% compared to 2Q17.
- The end of period fleet grew strongly, with a 45% increase in car rental vehicles and the company surpassing 200,000 total vehicles for the first time.
1) A empresa superou a marca de 200 mil carros na plataforma no 2T18, com crescimento de 47,9% no aluguel de carros e 21,4% na gestão de frotas.
2) O EBITDA consolidado foi de R$347,6 milhões no 2T18, um crescimento de 16,4% em relação ao ano anterior, apesar dos impactos da greve de caminhoneiros.
3) A receita líquida consolidada cresceu 29,3% no 2T18, totalizando R$1,74 bil
The document reports on Localiza's performance in the first quarter of 2018. It shows that Localiza increased its market share in the car rental market to 52.2% and maintained its market share in the fleet rental market. Localiza's key operating metrics like number of cars sold, rental days, and fleet size all grew compared to the first quarter of 2017. The company experienced strong revenue, income, and cash flow growth. Consolidated revenues grew 36.1% and EBITDA grew 33.8% compared to the first quarter of 2017.
O documento apresenta os resultados financeiros e operacionais da Localiza no 1T18. A Localiza teve forte crescimento no período, com aumento de 38% na receita líquida e 46,3% no lucro líquido em comparação com o mesmo período do ano anterior. A participação de mercado da Localiza no mercado de aluguel de carros foi de 52,2%, mantendo a liderança no setor.
Localiza is a Brazilian car rental company founded in 1973. It has since expanded into several business divisions including car rental, fleet rental, used car sales, and franchising. The presentation provides an overview of Localiza's history, competitive advantages, financial performance, and each of its main business divisions. Localiza has achieved significant growth and scale, with a market capitalization of over $5 billion as of March 2018. Its integrated business platform and 44 years of experience in fleet management have allowed it to generate higher returns than its cost of debt.
1) A Localiza é líder de mercado no aluguel de carros e gestão de frotas no Brasil, com valor de mercado de R$18,6 bilhões em abril de 2018.
2) A empresa tem vantagens competitivas como maior escala de operação, reconhecimento da marca, tecnologia e excelência operacional.
3) As divisões de aluguel de carros e gestão de frotas são as mais rentáveis e geram caixa para renovar a frota e pagar dívidas.
This document provides an overview of Localiza, a Brazilian car rental company. It discusses Localiza's business divisions including car rental, fleet rental, used car sales, and franchising. It highlights Localiza's competitive advantages such as its integrated business platform, leadership in car purchasing which allows better conditions, largest distribution network in Brazil, and innovation in digital technologies. Financial information is presented showing Localiza's profitability comes primarily from its car rental and fleet rental divisions. [/SUMMARY]
1. Apresenta visão geral da Localiza, sua história, principais divisões de negócios e dados financeiros do 1T18.
2. Destaca as vantagens competitivas da Localiza, incluindo captação de recursos em melhores condições, maior volume de compra de carros e liderança no aluguel de carros.
3. Explica o ciclo financeiro do aluguel de carros, onde a receita da venda dos carros no final do ciclo de um ano compensa os custos fixos e variáveis.
1) A Localiza é líder no mercado brasileiro de aluguel de carros com valor de mercado de R$18,6 bilhões e frota de 193.260 carros no 1T18.
2) Sua principal fonte de receita e lucratividade está nas divisões de aluguel de carros e gestão de frotas.
3) As vantagens competitivas incluem maior escala de operação, reconhecimento da marca, excelência operacional e inovação tecnológica.
Localiza is a Brazilian car rental company founded in 1973. It has grown to become a market leader through strategic acquisitions and expanding into adjacent business areas like used car sales, fleet rental, and franchising. The presentation reviews Localiza's business divisions and competitive advantages, including its integrated business platform, scale in purchasing cars, brand recognition, and focus on innovation. Financial information for the first quarter of 2018 shows the company's profitability comes mainly from car rental and fleet rental.
Localiza is a Brazilian car rental company founded in 1973. It has grown to become the market leader through strategic acquisitions and expanding into adjacent business lines like fleet rental, used car sales, and franchising. The presentation reviews Localiza's history, integrated business platform, financial performance, and competitive advantages. It achieves higher profitability than peers through scale benefits, lower funding costs, and operational efficiencies across its business divisions.
O documento apresenta a Localiza, líder no mercado brasileiro de aluguel de carros. Resume suas principais divisões de negócios, dados financeiros de 2017 e vantagens competitivas, como escala de operações, marca reconhecida e excelência operacional. A Localiza tem foco em geração de valor para acionistas com rentabilidade consistente e retorno sobre capital investido acima do custo da dívida.
O documento apresenta a Localiza, líder no mercado brasileiro de aluguel de carros. Resume suas principais divisões de negócios, vantagens competitivas e desempenho financeiro, destacando o aluguel de carros e gestão de frotas como suas divisões mais rentáveis.
- The company reported strong growth in 2017 with net revenue reaching R$6.1 billion, a 36.5% increase. Fleet size ended at 194,279 cars.
- Net income increased 37.6% to R$563.4 million. The company acquired Hertz operations in Brazil and integrated them.
- Car rental segment saw 48.2% volume growth in 4Q17 and net revenue growth of 35.4% for the year. Fleet rental also experienced solid gains.
- The company invested heavily in fleet expansion, adding over 52,000 cars. Free cash flow before growth spending was R$871.8 million.
4. Evolution in the number of car rental locations
# of car rental locations (Brazil)
+15
449 464
415
381
346
312
279
2006 2007 2008 2009 2010 2011 9M12
15 rental locations were added to the Brazilian network.
4
8. End of period fleet
Quantity
15.9%
CAGR: 6.3
%
88,060 96,317 87,809 93,330
70,295 31,629 32,027
62,515 26,615 30,732
53,476 22,778
46,003 23,403
14,630 17,790
61,445 64,688 57,077 61,303
39,112 47,517
31,373 35,686
2006 2007 2008 2009 2010 2011 9/30/2011 9/30/2012
Car Rental Fleet Rental
Fleet is adjusted to demand.
8
9. Evolution of the number of Seminovos’ points of sale
# of points of sale (Brazil)
+7
73
66
55
49
32 35
26
2006 2007 2008 2009 2010 2011 9M12
7 points of sale were opened to sustain fleet renewal.
9
11. Consolidated EBITDA
R$ million
CAGR: 21.4% 821.3
7.7%
649.5 603.0 649.3
469.7
403.5
504.1 3.5%
311.3
216.2 223.7
2006 2007 2008 2009 2010 2011 9M11 9M12 3Q11 3Q12
Proforma EBITDA margin for rental divisions:
Divisions 2006 2007 2008 2009 2010 2011 9M11 9M12 3Q11 3Q12
Car Rental 42.7% 45.0% 43.5% 39.8% 43.5% 43.9%* 43.8%* 41.1% 45.7%* 40.7%
Fleet Rental 70.7% 70.3% 67.5% 67.5% 66.7% 66.8%* 67.0%* 66.3% 68.3%* 66.7%
Rental Consolidated 52.4% 53.6% 51.2% 49.3% 50.7% 51.2%* 51.1%* 49.4% 53.1%* 49.5%
Used Car Sales 4.6% 5.5% 5.6% 1.1% 2.6% 2.8% 3.1% 4.2% 1.9% 4.9%
*It considers not only the adjustment of the accessories but also the reversal of the non-recurring provisions of R$10.6 million in 3Q11.
EBITDA margin was impacted by the increase in properties rentals and personnel expenses.
11
12. Average depreciation per car
in R$
Reflex of the IPI reduction
4,647.40
Financial crisis effect
3,084.40
Hot used car market 2,546.00 2,577.00
1,536.00 1,683.90
939.10
332.90
2006 2007 2008 2009 2010 2011 9M12 * 3Q12 *
* Annualized
Reflex of the IPI reduction
Financial crisis effect
5,549.30 5,831.20
5,083.10
Hot used car market 4,371.70 4,133.00
3,509.70
2,383.30 2,395.80
2006 2007 2008 2009 2010 2011 9M12 * 3Q12 * * Annualized
12
13. Breakdown of the car depreciation
in R$
Car rental
4,050.80
1,536.00 1,683.90
1,199.90 1,304.80 1,213.80
2010 2011 3Q12 * 3Q12 *
After the IPI reduction Before the IPI reduction
Cars’ average depreciation Accessories’ average depreciation
* Annualized depreciation of the cars purchased after the IPI reduction.
Average depreciation per car of the cars purchased after the IPI reduction
is in line with previous years’ depreciation.
13
14. Additional depreciation as a result of the IPI reduction
R$ million
Fleet as of Sep/12
Additional depreciation Cars by year of maturity of estimated useful life (quantity)
Division Accounted Estimated
Total 2012 2013 2014 2015 Total
2Q12 3Q12 Subtotal After 3Q12
85.0 20.0 105.0 (*) 11.0 116.0 28,433 8,059 36,629
Car rental 133 4
73.3% 17.2% 90.5% 9.5% 100.0% 77.6% 22.0% 0.4% 0.0% 100.0%
15.0 4.5 19.5 (*) 45.0 64.5 2,703 9,772 10,954 3,381 26,810
Fleet rental
23.3% 6.9% 30.2% 69.8% 100.0% 10.1% 36.4% 40.9% 12.6% 100.0%
Consolidated 100.0 24.5 124.5 (*) 56.0 180.5 31,136 17,831 11,087 3,385 63,439
90.5% of the additional depreciation in car rental division was already accounted.
14
15. Consolidated net income
R$ million
%
16 . 4
291.6
250.5 -27.3
212.9 %
190.2
154.8
138.2 127.4 -5.2%
116.3
75.3
71.4
2006 2007 2008 2009 2010 2011 9M11 9M12 3Q11 3Q12
Reconciliation EBITDA x net income 2009 2010 2011Var. R$ Var. % 9M11 9M12 Var. R$ Var. % 3Q11 3Q12 Var. R$ Var. %
Consolidated EBITDA 469.7 649.5 821.3 171.8 26.5% 603.0 649.3 46.3 7.7% 216.2 223.7 7.5 3.5%
(172.3) (146.3) (201.5) (55.2) 37.7% (143.5) (309.8) (166.3) 115.9% (53.9) (86.5) (32.6) 60.5%
Cars depreciation
Other property and equipament depreciation (21.0) (21.1) (24.1) (3.0) 14.2% (17.4) (23.9) (6.5) 37.4% (5.0) (8.4) (3.4) 68.0%
Financial expenses, net (112.9) (130.1) (179.0) (48.9) 37.6% (137.8) (108.2) 29.6 -21.5% (49.8) (30.4) 19.4 -39.0%
Income tax and social contribution (47.2) (101.5) (125.1) (23.6) 23.3% (91.4) (52.6) 38.8 -42.5% (32.2) (27.0) 5.2 -16.1%
Net income 116.3 250.5 291.6 41.1 16.4% 212.9 154.8 (58.1) -27.3% 75.3 71.4 (3.9) -5.2%
Excluding the additional depreciation of R$24.5 million, deduced of the income tax,
3Q12 net income would have reached R$87.6 million.
15
16. Free cash flow - FCF
Free cash flow - R$ million 2006 2007 2008 2009 2010 2011 9M12
EBITDA 311.3 403.5 504.1 469.7 649.5 821.3 649.3
Used car sales net revenues (588.8) (850.5) (980.8) (922.4) (1,321.9) (1,468.1) (1,157.3)
Depreciated cost of used car sales (*) 530.4 760.0 874.5 855.1 1,203.2 1,328.6 1,038.3
(-) Income tax and social contribution (42.7) (63.4) (52.8) (49.0) (57.8) (83.0) (77.7)
Working capital variation (4.8) 13.3 (44.8) (11.5) 54.5 (83.9) 0.4
Cash provided before capex 205.4 262.9 300.2 341.9 527.5 514.9 453.0
Used car sales net revenues 588.8 850.5 980.8 922.4 1,321.9 1,468.1 1,100.1
Capex of car - renewal (643.3) (839.0) (1,035.4) (947.9) (1,370.1) (1,504.5) (1,124.4)
Net capex for renewal (54.5) 11.5 (54.6) (25.5) (48.2) (36.4) (24.3)
Fleet renewal - quantity 23,174 30,093 34,281 34,519 47,285 50,772 40,759
Capex – other property and equipment (32.7) (23.7) (39.9) (21.0) (51.1) (63.0) (64.2)
Free cash flow before growth 118.2 250.7 205.7 295.4 428.2 415.5 364.5
Capex of car for fleet (growth) reduction (287.0) (221.9) (299.9) (241.1) (540.3) (272.0) 57.2
Change in accounts payable to car suppliers (capex) 222.0 (51.0) (188.9) 241.1 111.3 32.7 (206.0)
Net capex for fleet growth (65.0) (272.9) (488.8) 0.0 (429.0) (239.3) (148.8)
Fleet increase – quantity 10,346 7,957 9,930 8,642 18,649 9,178 (2,121)
Free cash flow after growth 53.2 (22.2) (283.1) 295.4 (0.8) 176.2 215.7
(*) Without technical discount deduction up to 2010 (see item 17 – Glossary, page 23) 16
17. Debt profile
R$ million
Debt profile as of 09/30/2012- principal
562.0
432.0
176.0 220.8 192.1
12.7 26.0 52.0
2012 2013 2014 2015 2016 2017 2018 2019
Cash
429.4
The Company is still presenting strong cash position and comfortable debt profile.
The “all in” debt cost was CDI + 107 bps.
17
18. Debt - ratios
Net debt x Fleet value
2,446.7 2,681.7 2,447.1
1,907.8
1,752.6
1,492.9 1,363.4
1,247.7 1,254.5 1,281.1 1,326.1
1,078.6
765.1
440.4
2006 2007 2008 2009 2010 2011 Until set/12
Net debt Fleet value
Until
END OF PERIOD BALANCE 2006 2007 2008 2009 2010 2011 (**) Sep/12(**)
Net debt / Fleet value 36% 51% 72% 57% 52% 51% 54%
Net debt / EBITDA (*) 1.4x 1.9x 2.5x 2.3x 2.0x 1.7x 1.5x
Net debt / Equity 0.7x 1.3x 2.0x 1.5x 1.4x 1.2x 1.1x
EBITDA / Net financial expenses 4.8x 5.4x 3.8x 4.2x 5.0x 4.6x 6.0x
(*) annualized
(**) From January 1st 2011, consider financial statements in IFRS
Comfortable debt ratios.
18
19. Spread
21.25%
18.70% 17.03% 17.12%
16.94% 15.70%
11.54%
7.8p.p. 12.9p.p.
8.2p.p. 9.6p.p. 8.5p.p.
4.0p.p. 9.0p.p.
10.90%
8.40% 8.84% 7.59% 7.33% 8.60%
6.67%
2006 2007 2008 2009 2010 2011 9M12
annualized
Cost of debt after tax ROIC
2006 2007 2008 2009 2010 2011 9M12 a
Average capital investment - R$ million 986.2 1,137.5 1,642.3 1,702.3 1,984.6 2,445.3 2,613.2
NOPAT Margin
(over rental net revenues) 34.5% 36.9% 32.1%* 21.9% 28.6% 28.9% 25.3%*
Turnover of average capital investment
(over rental net revenues) 0.55x 0.58x 0.53x 0.53x 0.59x 0.59x 0.62x
ROIC 18.7% 21.3% 17.0% 11.5% 16.9% 17.1% 15.7%
Interest on debt after tax 10.90% 8.40% 8.84% 7.59% 7.33% 8.60% 6.67%
Spread (ROIC – Interest after tax) - p.p. 7.8 12.9 8.2 4.0 9.6 8.5 9.0
(*) 2008 and 2012 NOPAT were calculated excluding additional fleet depreciation that was treated as equity loss since they were
extraordinary non-recurring events caused by external factors (IPI reduction for new cars), following the concepts recommended by Stern
Stewart.
19
20. Thank you!
www.localiza.com/ir
E-mail: ri@localiza.com
Phone: +55 31 3247-7024
Disclaimer
The material presented 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. This presentation is strictly confidential and may not be disclosed to any other person. 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.
Securities may not be offered or sold in the United States unless they are registered or exempt from registration under the Securities Act of 1933. Any offering of securities to be made in
the United States will be made by means of an offering memorandum that may be obtained from the underwriters. Such offering memorandum will contain, or incorporate by reference,
detailed information about LOCALIZA and its business and financial results, as well as its financial statements.
This presentation does not constitute an offer, or invitation, or solicitation of an offer, to subscribe for or purchase any securities. Neither this presentation nor
anything contained herein shall form the basis of any contract or commitment whatsoever.
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21. Localiza ADR level I
Ticker Symbol: LZRFY
CUSIP: 53956W300
ISIN: US53956W3007
Ratio: 1 Ordinary Share : 1 ADR
Exchange: OTC
Depositary bank: Deutsche Bank Trust Company Americas
ADR broker helpline: +1 212 250 9100 (New York)
+44 207 547 6500 (London)
E-mail: adr@db.com
ADR website: www.adr.db.com
Depositary bank’s local custodian: Banco Bradesco S/A, Brazil
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