Hertz 2009 Annual Report Download - page 3
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Please find page 3 of the 2009 Hertz annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
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Unrivaled
Growth Opportunities
Hertz emerges from the recession of 2009 even more efcient, customer focused
and poised for strong revenue growth. We’ve reduced costs by over $1.2 billion since
2007 and we are implementing solid plans to drive additional efciencies and improve
service levels. We developed new business opportunities in 2009 which generated
over $170 million of incremental revenues. As a result, the consolidated operating
margin, on an adjusted pre-tax* basis, for full year 2009 was equal to 2008, on $1.4
billion lower revenues, and the margin for worldwide car rental increased 360 bps to
7.8%. Going forward our balanced focus on costs, service and revenues, combined
with improving conditions in our car and equipment rental businesses, are expected
to yield signicant margin expansion and increased shareholder value.
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