Hertz 2008 Annual Report Download - page 6

Innovation…Driving Global Growth
Corporate Headquarters
141 Countries
4 Innovation…Driving Global Growth
Hertz was founded in 1918 in Chicago, Illinois and opened
its first European rental location in Paris in the mid-1950s.
Today, Hertz has over 8,500 locations in 141 countries, the
only car and equipment rental company with a truly global
footprint. Approximately one-third of our revenue is generated
outside of the United States, and revenue from international
travelers renting from Hertz in the U.S. increased 15% in 2008,
outstanding growth in the midst of a global recession.
Other highlights:
l Hertz Equipment Rental Corporation (HERC) opened an
equipment rental location in Shanghai, China in August. By
November, the location was already generating profits on
an adjusted pre-tax income* and Corporate EBITDA* basis
— an outstanding result for a start-up operation. HERC will
open additional locations in China in 2009.
l We have completed the licensing process to begin renting
cars in Beijing and Shanghai by Second Quarter 2009.
l We bought our licensees in the Czech and Slovak Republics,
which collectively generate revenues of over $30 million
annually, to expand our European footprint further into the
rapidly developing Eastern European market.
l HERC established a joint venture with Dayim Holdings, a
European and Middle Eastern equipment rental company,
to expand equipment rental capability in the United Arab
Emirates and Saudi Arabia, and Qatar.
l HERC generated significant 2008 revenues and profits ser-
vicing Western Canadian oil and gas development projects.
The Only Global
Rental Company
* Indicates a Non-GAAP measurement presented and reconciled within the section of the Annual Report to Stockholders entitled
"Definitions and Non-GAAP Reconciliations," which follows our Annual Report on Form 10-K.