Localiza (RENT3) recorded a 40.6% increase in net profit in the first quarter of 2024 compared to the same period in 2023, rising from R$521.6 million to R$733.5 million.
Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) was R$2.920 billion, an annual increase of 11.3%.
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Locates (RENT3): result
Net revenue totaled R$8.686 billion in the first quarter of 2024, growth of 27.3% compared to the same stage in 2023.
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Net rental revenue grew by 27.1%, 20.2% in the Car Rental division and 35.4% in the Fleet Management division. Revenue from used cars totaled R$4.338 billion in the quarter, an increase of 27.4% compared to the same period of the previous year, as a result of the increase in the volume and sales price of used cars.
On March 31, 2024, the company’s net debt was R$30.118 billion. The financial leverage indicator, measured by net debt/adjusted Ebitda, was 2.78 times in March/24.
Tags: Localiza RENT3 profits million quarter annual increase
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