Hertz 2009 Annual Report Download - page 3

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Unrivaled
Growth Opportunities
Hertz emerges from the recession of 2009 even more efcient, 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 efciencies 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 signicant margin expansion and increased shareholder value.
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