Webcast 4 T08 Port 4

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<ul><li><p>Localiza Rent a CarFevereiro, 2009 Resultados 4T08 (R$ milhes - USGAAP)</p></li><li><p>20,0%Diviso de aluguel de carrosCAGR: 34,6%Frota mdia alugada (Quantidade)Receita lquida (R$ milhes) 2007 2008 2007 2008CAGR: 31,3%17,9%32,3%37,1%</p><p>Grf1</p><p>6654</p><p>9402</p><p>12842</p><p>15937</p><p>21849</p><p>Plan1</p><p>Receita lquida total</p><p>20042005200620072008</p><p>Seminovos197.1271.3357.2442.7585.7</p><p>Frota mdia alugada</p><p>20042005200620072008</p><p>Aluguel carros6,6549,40212,84215,93721,849</p><p>20042005200620072008</p><p>EBITDA79.0122.8150.2196.8259.3</p><p>20042005200620072008</p><p>31.151.620.841.349.1</p><p>20042005200620072008</p><p>AC79.0122.8150.2196.8259.3</p><p>Seminovos31.151.620.841.349.1</p><p>110.1174.4171.0238.1308.4</p><p>29.5%</p><p>29.4%</p><p>Plan1</p><p>0</p><p>0</p><p>0</p><p>0</p><p>0</p><p>R$ milhes</p><p>EBITDA</p><p>0</p><p>0</p><p>0</p><p>0</p><p>0</p><p>18,9%</p><p>R$ milhes</p><p>Ebitda - Seminovos</p><p>0</p><p>0</p><p>0</p><p>0</p><p>0</p><p>32,3%</p><p>R$ milhes</p><p>Receita lquida</p><p>271,3</p><p>00</p><p>00</p><p>00</p><p>00</p><p>00</p><p>2,2%</p><p>37,1%</p><p>Quantidade</p><p>Frota mdia alugada</p><p>21.849</p><p>6.654</p><p>9.402</p><p>12.842</p><p>15.937</p><p>0</p><p>0</p><p>0</p><p>0</p><p>0</p><p>0</p><p>0</p><p>0</p><p>0</p><p>0</p><p>442,7</p><p>31,8%</p><p>R$ milhes</p><p>EBITDA - Aluguel</p><p>0</p><p>0</p><p>0</p><p>0</p><p>0</p><p>0</p><p>0</p><p>0</p><p>0</p><p>0</p><p>31,8%</p><p>110,1</p><p>174,4</p><p>171,0</p><p>238,1</p><p>Aluguel de carros</p><p>Seminovos</p><p>R$ milhes</p><p>EBITDA - Total</p><p>308,4</p><p>Grf4</p><p>1469720097</p><p>1434721550</p><p>1565322700</p><p>1898022772</p><p>Plan1</p><p>ok</p><p>Receita20042005200620072008</p><p>Aluguel carros31.151.620.841.349.1</p><p>Aluguel frotas5.47.56.15.15.4</p><p>36.559.126.946.454.5</p><p>SIM</p><p>cagr0.0%</p><p>-16.4%</p><p>ok</p><p>Receita1T071T082T072T083T073T084T074T08Var. at set3T</p><p>Aluguel e francshising159.4201.6157.0209.5168.3227.5193.8233.935.2%20.7%</p><p>Seminovos244.2268.9174.1222.8214.5302.9220.3188.641.2%-14.4%</p><p>403.6470.5331.1432.3382.8530.4414.1422.538.6%2.0%</p><p>ok</p><p>2004200520062007200828.0%</p><p>EVA(*) (em milhes de reais)39.255.576.2114.3100.0</p><p>WACC nominal16.9%15.7%11.0%11.2%10.9%</p><p>ROIC24.6%24.8%18.7%21.3%17.0%</p><p>41.6%37.3%50.0%-12.5%</p><p>SIM</p><p>ok</p><p>Lucro Lquido200420052006200720084T074T083T08</p><p>Aluguel e franchising90.7106.5138.2190.8127.355.9(29.7)50.1-56.1%-268.7%</p><p>SIMSeminovos-18.6-38.0-63.3-47.4-9.6-100.0%-70.0%</p><p>Franchising0.22.11.93.20.3-100.0%-61.9%</p><p>Lucro lquido do perodo90.6106.5138.2190.231.555.9</p><p>17.5%29.8%37.6%77.5%</p><p>cagr28.0%52.0</p><p>17.4%29.8%38.1%-56.1%</p><p>ok</p><p>20072008</p><p>1T45.453.5</p><p>2T38.453.6</p><p>3T50.450.1</p><p>4T55.9(29.7)</p><p>ok</p><p>20072008</p><p>1T14,69720,097</p><p>2T14,34721,550</p><p>3T15,65322,700</p><p>4T18,98022,772</p><p>ok</p><p>20072008</p><p>1T104.4137.6</p><p>2T98.7141.0</p><p>3T108.0151.9</p><p>4T131.6155.2</p><p>ok</p><p>20072008</p><p>1T61.279.3</p><p>2T45.277.2</p><p>3T60.680.6</p><p>4T71.171.4</p><p>ok</p><p>20072008</p><p>1T13,32515,720</p><p>2T13,94116,987</p><p>3T14,65218,532</p><p>4T15,24620,291</p><p>ok</p><p>20072008</p><p>1T53.361.6</p><p>2T56.366.0</p><p>3T58.473.2</p><p>4T60.276.1</p><p>ok</p><p>20072008</p><p>1T36.040.7</p><p>2T39.545.0</p><p>3T43.152.2</p><p>4T43.153.0</p><p>CompradosVendidos</p><p>1T7,2139,292</p><p>2T16,4197,716</p><p>3T17,86710,627</p><p>4T2,7126,646</p><p>ok</p><p>20072008</p><p>1T8,8709,292</p><p>2T6,0067,716</p><p>3T7,70910,627</p><p>4T7,5086,646</p><p>ok</p><p>20072008</p><p>1T244.2268.9</p><p>2T174.1222.8</p><p>3T214.5302.9</p><p>4T220.3188.6</p><p>ok</p><p>20072008</p><p>1T13.820.0</p><p>2T8.713.2</p><p>3T12.118.3</p><p>4T11.73.1</p><p>ok</p><p>Ebitda200420052006200720084T074T083T08</p><p>Aluguel e franchising161.0218.8284.4357.1449.7103.5122.6115.4</p><p>Seminovos36.559.126.946.454.511.83.118.3</p><p>SIMFranchising1.23.22.93.70.0%-17%</p><p>-47%</p><p>EBITDA197.5277.9311.3403.5504.2115.3-77.1%</p><p>40.7%12.0%29.6%-77.1%</p><p>cagr26.9%</p><p>35.9%30.0%25.6%-77.0%</p><p>72.5%</p><p>7.9%263.0%68.1%</p><p>30.332.7118.7199.5</p><p>11.9%103.1%112.1%</p><p>200420052006200720083T08</p><p>Fluxo de caixa livre antes do crescimento52.058.2118.2250.7205.7-8.7</p><p>Aumento real do preo do carro novo9.80%3.70%0.90%0.60%0.60%</p><p>30.132.5118.4199.6</p><p>SIM</p><p>8.0%264.3%68.6%</p><p>118.4</p><p>-26.0%</p><p>ok</p><p>AluguelSeminovos</p><p>1T84.613.650</p><p>2T76.88.7</p><p>3T92.512.2</p><p>4T103.511.8</p><p>ok</p><p>AluguelSeminovos</p><p>1T101.019.8</p><p>2T110.513.2</p><p>3T115.618.3</p><p>4T122.63.1</p><p>20072008</p><p>1T111.0140.0</p><p>2T93.4135.4</p><p>3T115.8151.1</p><p>4T114.3127.5</p><p>20072008</p><p>1T65%66%</p><p>2T73%73%</p><p>3T71%66%</p><p>4T74%66%</p><p>1T2T3T4T</p><p>AluguisSeminovosTotalAluguisSeminovosTotalAluguisSeminovosTotalAluguisSeminovosTotal</p><p>2008120.020.0140.0122.213.2135.4132.818.3151.1124.43.1127.5</p><p>200797.213.8111.084.78.793.4103.712.1115.8114.20.1114.3</p><p>1T2T3T4T</p><p>20072008Total20072008Total20072008Total20072008Total</p><p>Alugueis97.2120.0217.284.7122.2206.9103.7132.8236.5114.2124.4238.6</p><p>Seminovos13.820.033.88.713.221.912.118.330.40.13.13.2</p><p>200420052006At set/07</p><p>Diferena entre o preo mdio de compra e de venda3.12.62.60.3</p><p>ok</p><p>CompradosVendidos</p><p>6,467200422,18215,71513</p><p>7,342200526,10518,76313</p><p>10,346200633,52023,17426</p><p>7,957200738,05030,09332</p><p>SIM9,930200844,21134,28135</p><p>8,9044T0716,4127,508</p><p>(3,934)4T082,7126,646</p><p>okcomprasvendas</p><p>20072007</p><p>1T1,7478,870</p><p>2T7,5276,006</p><p>3T12,3647,709</p><p>4T16,4127,508</p><p>ok</p><p>20082008</p><p>1T7,2139,292</p><p>2T16,4197,716</p><p>3T17,86710,627</p><p>4T2,7126,646</p><p>ok</p><p>investimentoinvestimento</p><p>Compras (*)Receita de venda</p><p>190.12004493.1303.0190.1</p><p>241.82005690.0448.2241.8</p><p>340.02006930.3590.3340.0</p><p>SIM207.720071,060.9853.2207.7</p><p>352.120081,335.3983.2352.1</p><p>233.64T07453.9220.3233.6</p><p>(91.6)4T0897.0188.6-91.6</p><p>0.00</p><p>Nmero de agncias</p><p>20042005200620071T08</p><p>Nmero de agncias83.0117.0145.0178.0181.0</p><p>114.5%</p><p>ok</p><p>investimentoinvestimento</p><p>Compras (*)Receita de venda</p><p>1T64.0244.2(180.2)</p><p>2T210.6174.136.4</p><p>3T332.4214.5117.9</p><p>4T453.9220.3233.6</p><p>Nmero de agncias</p><p>20042005200620071T08</p><p>Nmero de agncias83.0117.0145.0178.0181.0</p><p>114.5%</p><p>ok</p><p>investimentoinvestimento</p><p>Compras (*)Receita de venda</p><p>1T224.6268.9(44.3)</p><p>2T475.8222.8252.9</p><p>3T538.0302.9235.1</p><p>4T97.0188.6(91.6)</p><p>Nmero de agncias</p><p>20042005200620071T08</p><p>Nmero de agncias83.0117.0145.0178.0181.0</p><p>114.5%</p><p>ok</p><p>Frota Total</p><p>SIM20042005200620072008At set/08Var.2T08</p><p>Aluguel de Carros19,53124,10331,37335,68639,11244,21513.0%36,092</p><p>Aluguel de Frota9,16811,76214,63017,79023,40322,481-3.9%20,679</p><p>28,69935,86546,00353,47662,51566,6966.7%56,771</p><p>Carros Alugados</p><p>20042005200620071T071T08</p><p>Aluguel de Carros6,6549,40212,84215,93714,69720,09736.7%</p><p>Aluguel de Frotas7,7969,30811,63514,29513,32515,72018.0%</p><p>14,45018,71024,47730,23228,02235,81727.8%</p><p>24.1%</p><p>22.9%</p><p>ok</p><p>20054.5704,570.0</p><p>200610.581132%10,581.0</p><p>200713.54428.0%13,544.0</p><p>SIMAt 28/11/088,7188,718.0</p><p>10.265</p><p>ok</p><p>Carros Alugados</p><p>2004 (+31,2%)2005 (+41,4%)2006 (+36,8%)2007 (+24,1%)2008(+38,2%)</p><p>1T537.7761.01085.2131740%1820.9</p><p>2T518.1739.51059.5129900%1820.9</p><p>3T643.0875.71230.6143560%</p><p>4T714.21035.21292.6174140%</p><p>2413.03411.44667.9579340%</p><p>0.00%41.4%36.8%24%</p><p>ok</p><p>Drias aluguel de frotas</p><p>2004 (-10,0%)2005 (+19,4%)2006 (+25,0%)2007 (+22,8%)1T08(+17,9%)</p><p>1T751.0763.01005.6119920%1414.1</p><p>2T689.7765.01022.5125470%1,414</p><p>3T659.8869.01070.8131830%</p><p>4T705.9953.81089.5137200%</p><p>2806.43350.84188.4514420%</p><p>25.00%23%</p><p>Aluguel de carrosAluguel de frotasTotal</p><p>ok</p><p>1997199819992000200120022003200400%2005200620071T071T08</p><p>EBITDA42.062.085.2134.3154.0149.9152.119780%278.1311.4403.598.1120.9</p><p>EBITDA42.062.085.2134.3157.5149.9152.119780%278.1311.4403.5</p><p>Frota Total10,78311,00614,33919,82124,57922,84522,3552869900%35,86546,00353,476</p><p>26.8%</p><p>23.9%</p><p>ok</p><p>Receita1997199819992000200120022003200400%2005200620071T071T08</p><p>Aluguel127.2144.7160.0220.8269.5286.4281.133140%428.7555.1678.5159.4201.6</p><p>Seminovos85.789.684.789.3150.9190.5250.930300%448.2590.3853.2244.2269.9</p><p>Franchising3.64.75.06.55.25.15.5650%8.2</p><p>216.5239.0249.7316.6425.6482.0537.564090%885.11,145.41,531.7403.6471.5</p><p>33.7%</p><p>16.4%</p><p>ok</p><p>2008200920102011201220132014</p><p>Dvida138.1396.7350.90.96766.766</p><p>Disponibilidades + Aplicaes em ttulos e valores mobilirios250.2</p><p>-112.1</p><p>ok</p><p>2004200520062007</p><p>47464138</p><p>53545962</p><p>ok</p><p>200620074T064T07</p><p>Receita lquida1145.41531.7363.241410%</p><p>33.7%14%</p><p>ok</p><p>200620074T064T07</p><p>Receita de aluguel555.1678.5150.319380%</p><p>555.1678.5150.319381%</p><p>22.2%29%</p><p>ok</p><p>200620071T071T08</p><p>EBITDA311.3403.598.112090%</p><p>29.6%23%</p><p>ok</p><p>200620071T071T08</p><p>Lucro138.233190.16245.45350%</p><p>37.6%18%</p><p>ok</p><p>1997199819992000200120022003200400%2005200620071T071T08</p><p>Frota Total10,78311,00614,33919,82124,57922,84522,3552869900%35,86546,00353,47638,76351,239</p><p>Receita200420052006200700%1T071T08</p><p>Aluguel e francshising331.40428.70555.1067850%159.60201.6028.9%</p><p>Seminovos303448.2590.385320%244.2268.93.5%</p><p>Franchising6.508.207.70760%1.702.305.3%</p><p>634.40876.901,145.40153170%403.80470.5014.0%</p><p>aluguel324.9420.5547.467090%148.398191.80129.2%</p><p>29.4%29.5%22%28.9%</p><p>total634.4876.91145.4153170%363.2414.1</p><p>38.2%30.6%34%14.0%</p><p>cagr45%</p><p>34%26.3%</p><p>200420052006200720081T082014</p><p>Dvida281.3539.3443.1767.91,254.5838.666</p><p>Valor da frota612.2900.21247.71492.91,752.61465.1</p><p>0.51436800860.5723841376</p><p>1T07</p><p>SIM46770%</p><p>107950%</p><p>ok</p><p>Taxa de utilizao</p><p>200420052006200700%2008</p><p>1T60.657.359.5</p><p>2T70.155.468.4</p><p>3T66.663.771.8</p><p>4T51.258.563.3</p><p>66</p><p>248.5234.9263.00%</p><p>0.00%-5.5%12.0%-100%</p><p>ok</p><p>Lucro Lquido20042005200620071T071T08</p><p>Aluguel e franchising15,715.018,763.023,174.030,093.08,870.09,292.04.8%-57.2%</p><p>Seminovos-18.6-38.0-63.3-47.4-9.6-100.0%-70.0%</p><p>Franchising0.22.11.93.20.3-100.0%-61.9%</p><p>Lucro lquido do perodo90.6106.5138.2190.231.555.9</p><p>17.5%29.8%37.6%77.5%</p><p>cagr28.0%52.0</p><p>19.4%23.5%29.9%4.8%</p><p>ok</p><p>1T041T051T061T071T081T08</p><p>Dirias537.7761.01,085.21,317.41,820.935.4</p><p>Taxa de utilizao60.6%57.3%59.5%64.9%66.4%2.7%</p><p>ROIC24.6%24.8%18.7%21.3%5.2%5.6%</p><p>41.5%42.6%21.4%38.2%</p><p>ok</p><p>1T041T051T061T071T081T08</p><p>frota media alugada8,345.08,477.011,174.013,325.015,720.035.4</p><p>Taxa de utilizao60.6%57.3%59.5%65.0%66.4%2.7%</p><p>ROIC24.6%24.8%18.7%21.3%5.2%5.6%</p><p>1.6%31.8%19.3%18.0%</p><p>okcomprasvendas</p><p>20072007</p><p>1T1,747.08,870.0</p><p>2T7,527.06,006.0</p><p>3T12,364.07,709.0</p><p>4T453.9220.3</p><p>ok</p><p>20082008</p><p>1T7,213.09,292.0</p><p>2T16,419.07,716.0</p><p>3T17,867.010,627.0</p><p>4T97.0188.6</p><p>Plan1</p><p>&amp;A</p><p>Page &amp;P</p><p>Fluxo de caixa livre antes do crescimento</p><p>R$ milhes</p><p>Fluxo de caixa livre antes do crescimento</p><p>Frota mdia ac af</p><p>Receita lquida</p><p>EBITDA</p><p>13,6</p><p>76,8</p><p>8,7</p><p>12,2</p><p>84,6</p><p>103,5</p><p>92,5</p><p>11,7</p><p>R$ milhes</p><p>EBITDA por trimestre - 2007</p><p>Lucro lquido</p><p>1.531,7</p><p>403,6</p><p>470,5</p><p>33,7%</p><p>16,6%</p><p>26,5%</p><p>22,2%</p><p>44,5%</p><p>Aluguel e Franchising</p><p>Seminovos</p><p>Em R$ milhes</p><p>Receita lquida total</p><p>&amp;A</p><p>Page &amp;P</p><p>41,6%</p><p>37,3%</p><p>50,0%</p><p>EVA(*) (em milhes de reais)</p><p>WACC nominal</p><p>ROIC</p><p>EVA</p><p>77,3</p><p>10,9%</p><p>24.477</p><p>30.232</p><p>28.022</p><p>35.817</p><p>23,5%</p><p>27,8%</p><p>24,1%</p><p>36,7%</p><p>22,9%</p><p>18,0%</p><p>Aluguel de Carros</p><p>Aluguel de Frotas</p><p>Quantidade</p><p>Frota mdia alugada</p><p>EBITDA</p><p>Em R$ milhes</p><p>EBITDA (*)</p><p>Lucro</p><p>Em R$ milhes</p><p>Lucro Lquido</p><p>Aluguel e franchising</p><p>R$ milhes</p><p>Lucro lquido</p><p>R$ milhes</p><p>EBITDA</p><p>18,3</p><p>3,1</p><p>311,3</p><p>197,5</p><p>277,9</p><p>403,5</p><p>25,6%</p><p>30,0%</p><p>35,9%</p><p>Aluguel Seminovos</p><p>2007 2008</p><p>2007</p><p>2008</p><p>Evoluo da taxa de utilizaoDiviso de Aluguel de carros</p><p>72,9%</p><p>65,0%</p><p>+ 10,1p.p.</p><p>Diferena entre o preo mdio de compra e de venda</p><p>Em R$ mil</p><p>Investimento mdio por carro para renovao da frota</p><p>3,1</p><p>2,6</p><p>0,4</p><p>-84,6%</p><p>2,6</p><p>Diferena entre o preo mdio de compra e de venda</p><p>690,0</p><p>Compras (*)</p><p>Receita de venda</p><p>R$ milhes</p><p>448,2</p><p>590,3</p><p>930,3</p><p>241,8</p><p>340,0</p><p>190,1</p><p>493,1</p><p>303,0</p><p>1.060,9</p><p>853,2</p><p>207,7</p><p>Compras (inclui acessrios) Receita de venda</p><p>7.342</p><p>10.346</p><p>6.467</p><p>7.957</p><p>Comprados Vendidos Pontos de venda</p><p>Aluguel de Carros Aluguel de Frota</p><p>Volume mdio dirio negociado (R$ mil)</p><p>8.718</p><p>Aluguel de Carros</p><p>Aluguel de Frota</p><p>Quantidade</p><p>Frota no final do perodo (*)</p><p>46.003</p><p>35.865</p><p>28.699</p><p>28,3%</p><p>24,4%</p><p>23,4%</p><p>Aluguel de Carros Aluguel de Frotas</p><p>21,6%</p><p>30,2%</p><p>53.476</p><p>2004 (+31,2%)</p><p>2005 (+41,4%)</p><p>2006 (+36,8%)</p><p>2007 (+24,1%)</p><p>2008(+38,2%)</p><p>Em milhares</p><p>Evoluo do nmero de dirias - aluguel de carros</p><p>17,9%1T08</p><p>2004 (-10,0%)</p><p>2005 (+19,4%)</p><p>2006 (+25,0%)</p><p>2007 (+22,8%)</p><p>1T08(+17,9%)</p><p>Em milhares</p><p>Evoluo do nmero de dirias - aluguel de frotas</p><p>12,7%</p><p>12,7%</p><p>&amp;A</p><p>Page &amp;P</p><p>EBITDA</p><p>CAGR: 27,6%</p><p>12,7%</p><p>Aluguel</p><p>Seminovos</p><p>CAGR: 16,5%</p><p>213</p><p>235</p><p>310</p><p>532</p><p>245</p><p>477</p><p>421</p><p>1.532</p><p>1.145</p><p>634</p><p>877</p><p>receita lquida de aluguel e franchising receita lquida de carros usados</p><p>Receita lquida</p><p>Receita lquida total</p><p>33,7%</p><p>Receita de aluguel</p><p>Receita lquida de aluguel e franchising</p><p>28,9%</p><p>EBITDA</p><p>Em R$ milhes</p><p>EBITDA (*)</p><p>Lucro</p><p>Lucro Lquido</p><p>23,2%</p><p>37,6%</p><p>CAGR: 23,9%</p><p>CAGR: 30,3%</p><p>Frota Total</p><p>CAGR: 24,4%</p><p>CAGR: 12,9%</p><p>Evoluo da frota</p><p>Evoluo da receita</p><p>Evoluo do EBITDA</p><p>Quantidade</p><p>Investimento lquido</p><p>14,0%</p><p>22,2%</p><p>17,7%</p><p>29,6%</p><p>38,2%1T08</p><p>222,0 (1)</p><p>2007</p><p>100%</p><p>100%</p><p>100%</p><p>100%</p><p>Fora de aeroportos</p><p>Em aeroportos</p><p>Breakdown da receita - Aluguel de carros</p><p>2004</p><p>2004</p><p>2005</p><p>2005</p><p>2006</p><p>2006</p><p>2007</p><p>2007</p><p>0.534</p><p>0.466</p><p>0.536</p><p>0.464</p><p>0.594</p><p>0.406</p><p>0.62</p><p>0.38</p><p>Fora de aeroportos Em aeroportos</p><p>23,2%</p><p>37,6%</p><p>17,8%</p><p>29,6%</p><p>1.145,4</p><p>CAGR: 28,0%</p><p>77,5%</p><p>37,6%</p><p>+52,0</p><p>Lucro lquido do perodo</p><p>Em R$ milhes</p><p>Lucro lquido</p><p>1,4p.p.</p><p>Notas comerciais</p><p>Dvida</p><p>Disponibilidades + Aplicaes em ttulos e valores mobilirios</p><p>Em R$ milhes</p><p>Cronograma de amortizao da dvida</p><p>2 emisso de debnturesCDI + 0,44% a.a.</p><p>1 emisso de debntures108,5% do CDI</p><p>1.531,7</p><p>CAGR: 34,2%</p><p>22,2%</p><p>44,5%</p><p>1.145,4</p><p>876,9</p><p>634,4</p><p>28,9%</p><p>363,2</p><p>414,1</p><p>14,0%</p><p>Aluguel e Franchising</p><p>Seminovos</p><p>Em R$ milhes</p><p>Receita lquida total</p><p>983,2</p><p>1.335,3</p><p>352,1</p><p>9.930</p><p>16,6%</p><p>472</p><p>403</p><p>32,2%</p><p>23,2%</p><p>62.515</p><p>13,7%</p><p>31,6%</p><p>64,9% 2008</p><p>66,4% 2008</p><p>72,9% 2008</p><p>72,8% 2008</p><p>70,5% 2008</p><p>66,1% 2008</p><p>66,0% 2008</p><p>74,0% 2008</p><p>200700%</p><p>2008</p><p>Evoluo da taxa de utilizaoDiviso de Aluguel de carros</p><p>(*)</p><p>12,7%</p><p>Aluguel e franchising</p><p>Quantidade</p><p>Venda de veculos</p><p>15.715</p><p>18.763</p><p>23.174</p><p>30.093</p><p>4,8%</p><p>8.870</p><p>9.292</p><p>Dirias</p><p>Em milhares</p><p>Evoluo do nmero de dirias - aluguel de carros</p><p>frota media alugada</p><p>Quantidade</p><p>Evoluo da frota mdia alugada</p><p>19,2%</p><p>42,6%</p><p>41,5%</p><p>38,2%</p><p>21,4%</p><p>18,0%</p><p>31,8%</p><p>1,6%</p><p>Dvida</p><p>Valor da frota</p><p>R$ milhes</p><p>Dvida lquida x Valor da frota</p><p>1.254,5</p><p>Dvida lquida Valor da frota</p><p>Quantidade</p><p>Comprados Vendidos</p><p>7.996</p><p>13.696</p><p>5.700</p><p>6.006</p><p>7.527</p><p>1.521</p><p>17.788</p><p>20.909</p><p>3.121</p><p>14.876</p><p>9.274</p><p>(5.602)</p><p>9,6%</p><p>504,2</p><p>12,7%</p><p>R$ milhes</p><p>EBITDA</p><p>36,5</p><p>59,1</p><p>26,9</p><p>46,4</p><p>18,0%</p><p>17,4%</p><p>Aluguel de carros Aluguel de frotas</p><p>2,2%</p><p>54,5</p><p>Aluguel Seminovos</p><p>R$ milhes</p><p>lucro lquido por trimestre</p><p>2007 2008</p><p>8.870</p><p>7.527</p><p>6.006</p><p>7.709</p><p>1.747</p><p>16.412</p><p>12.364</p><p>Quantidade</p><p>Quantidade por trimestre - 2007</p><p>Compras Vendas</p><p>9.292</p><p>16.419</p><p>7.716</p><p>10.627</p><p>7.213</p><p>16.412</p><p>17.867</p><p>6.646</p><p>Quantidade</p><p>Quantidades por trimestre - 2008</p><p>Compras Vendas</p><p>7.508</p><p>25,9%</p><p>8.904</p><p>(9.766)</p><p>8.870</p><p>7.527</p><p>6.006</p><p>7.709</p><p>1.747</p><p>16.412</p><p>12.364</p><p>Quantidade</p><p>Investimento lquido por trimestre - 2007</p><p>Compras Vendas</p><p>9.292</p><p>16.419</p><p>7.716</p><p>10.627</p><p>7.213</p><p>16.412</p><p>17.867</p><p>6.646</p><p>Quantidade</p><p>Investimento lquido por trimestre - 2008</p><p>Compras Vendas</p><p>7.508</p><p>8.904</p><p>(9.766)</p><p>19,8</p><p>110,5</p><p>13,2</p><p>18,3</p><p>101,1</p><p>112,6</p><p>115,6</p><p>3,1</p><p>R$ milhes</p><p>EBITDA por trimestre - 2008</p><p>Aluguel Seminovos</p><p>210,1</p><p>Compras (*)</p><p>Receita de venda</p><p>R$ milhes</p><p>174,1</p><p>36,4</p><p>(180,2)</p><p>64,0</p><p>244,2</p><p>332,4</p><p>214,5</p><p>117,9</p><p>Compras (inclui acessrios) Receita de venda</p><p>Investimento lquido por trimestre - 2007</p><p>220,3</p><p>453,9</p><p>233,6</p><p>475,8</p><p>Compras (*)</p><p>Receita de venda</p><p>R$ milhes</p><p>222,8</p><p>252,9</p><p>(44,3)</p><p>224,6</p><p>268,9</p><p>538,0</p><p>302,9</p><p>235,1</p><p>Compras Receita de venda</p><p>Investimento lquido por trimestre - 2008</p><p>188,6</p><p>97,0</p><p>(91,6)</p><p>12,7%</p><p>R$ milhes</p><p>Receita lquida consolidada - por trimestre</p><p>403,6</p><p>470,5</p><p>331,1</p><p>382,8</p><p>422,5</p><p>Aluguel Seminovos</p><p>414,1</p><p>530,4</p><p>432,3</p><p>20,0%</p><p>Quantidade</p><p>Frota mdia alugada</p><p>15.720</p><p>13.941</p><p>16.987</p><p>18.532</p><p>13.325</p><p>15.246</p><p>14.652</p><p>33,1%</p