Hertz 2009 Annual Report Download - page 2
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www.hertz.com
Contents:
Letter to Shareholders 2
Industry-Leading, Customer Focused Innovations 4
Off-Airport Car Rental, Our Most Advanced Revenue Diversication Initiative 6
Serving The Vacation Traveler: Advantage® and The Car Collections 8
Car Sharing with Connect by Hertz 10
Equipment Rental Revenue Growth and Diversication 12
Expanding Our Global Footprint 14
Board of Directors 16
Hertz Management Team IBC
Shareholder Information IBC
0 2000 4000 6000 8000
0 160 320 480 640
0.0 0.3 0.6 0.9 1.2
0 200 400 600 800
Worldwide Revenues (in millions)
2006
2007
2008
2009
$8,058
$8,686
$8,525
$7,102
Adjusted Pre-Tax Income* (in millions)
2006
2007
2008
2009
$486.7
$660.7
$237.2
$198.9
Adjusted EPS*
2006
2007
2008
2009
$0.92
$1.26
$0.42
$0.29
Total Net Cash Flow* (in millions)
2006
2007
2008
2009
$553.9
$847.8
$593.1
$733.4
*Indicates a Non-GAAP measurement presented and reconciled within the section of the Annual Report to Stockholders entitled “Denitions and Non-GAAP Reconciliations,”
which follows the SEC Business and Financial Information in this Annual Report.
2009 Financial Highlights
n Due to the effects of the 2008-2009 reces-
sion, full year 2009 revenues of $7.1 billion,
$1.4 billion below 2008.
n Full year 2009 adjusted pre-tax income* only
$38 million below 2008, at almost $200 mil-
lion. Corporate EBITDA* of $980 million, only
$120 million lower, year-over-year.
n Full year 2009 adjusted earnings per share*
of $0.29.
n Full year 2009 loss before income taxes of
$171 million compared with a $1,383 million
loss in 2008.
n Full year 2009 net loss of $126 million,
compared with a loss of $1,207 million in
2008.
n Full year 2009 diluted loss per share of $0.34,
compared with a $3.74 loss per share in 2008.
n Full year 2009 total net cash ow* of over
$733 million, $140 million above 2008.
n Liquidity of $5.8 billion as of December 31,
2009, subject to borrowing base limitations
and other factors.
n $3.3 billion of U.S. eet debt renanced a year
ahead of schedule and on favorable terms.