Avis Budget Group, Inc (CAR) 2018年年度报告「NASDAQ」.pdf

1、March 26,2019Dear fellow shareholders,Avis Budget Group had another successful year in 2018,reporting our ninth consecutive year of revenue growth,generating more than 40 million transactions and a record$9.1 billion of revenue.Reported net income was$165 million and diluted earnings per share was$2

2、.06.Adjusted EBITDA was$781 million,Adjusted Net Income increased to$292 million and Adjusted Diluted Earnings per Share increased to$3.65.Net cash provided by operating activities was$2.6 billion for the year and we generated$430 million of Adjusted free cash flow which was used to make a number of

3、 strategic acquisitions,as well as repurchasing$200 million of common stock,or 7%of our outstanding shares.Our results were particularly strong in the Americas,with Adjusted EBITDA growing 15%and margin expanding 100 basis points.This was achieved by driving profitable revenue growth,a 7%reduction i

4、n per-unit fleet costs and higher utilization.This growth was partially offset by our International segment where increased volume and higher utilization was more than offset by lower revenue per day,higher maintenance and damage costs and increased marketing expenses.Profitable Revenue GrowthWe hav

5、e embarked on a journey to reinvent the rental experience we offer customers by making it more transparent,convenient,personalized and seamless.That journey began in 2017,when we formally launched our award winning Avis mobile app.Since then,we have surpassed two million app transactions,and the ove

6、rwhelming majority of users have told us they are very satisfied with their experience.This satisfaction is translating into substantial improvements in our net promoter scores for app users,signaling that we are exceeding our customers expectations and contributing to stronger loyalty.We acquired M