THE united recorded a net loss of R$ 49.9 million in the second quarter, reversing the net profit of R$ 239.5 million a year earlier. In adjusted terms, there was a net income of R$ 213 million, a decrease of 11.7% in the annual comparison.
THE Net Revenue total reached R$ 1.94 billion in the second quarter, an increase of 23.8% in the annual comparison. In rental, the indicator reached R$ 1.1 billion from April to June, up 49.8% over the same period in 2021. In used cars, there was a slight increase of 0.8% on the same basis of comparison, to R$ 838 .8 million.
O EBITDA – interest, taxes, depreciation and amortization – consolidated adjusted reached R$ 843 million from April to June, up 51.3% over the same period in 2021. As a result, the EBITDA margin (on rental revenue) was 76, 2% in the second quarter, up from 75.4% a year earlier.
In 2Q22, there was an expansion of 42.0% in net revenue from the Car Rental division, with growth of 13.6% in volume and 24.9% in average daily rates, compared to 2Q21. The increase in the average daily rate aims to readjust the level of return on the operation in the context of higher car prices, inflation and higher interest rates.
Even after the end of the high season, the average tariff for the quarter was R$103.1, with the capture of new sequential price increases in longer duration segments. The utilization rate was 79.7%, reinforcing the company’s ability to capture demand, even in the context of price pass-through, in addition to the efficient management of the fleet with higher average mileage.
In the car rental segment, the average rate reached R$103.9 in the quarter, up 41.9% year-on-year. The daily number was 4.9 million, up 8.9% in the year. In the outsourcing of fleets, the number of daily rentals was 10.1 million, a record, an increase of 27.6%. In used vehicles, 12.5 thousand vehicles were sold, at R$ 67.1 thousand per car.
The financial result in the second quarter was negative by R$341.3 million, a strong increase in the annual comparison, negatively impacted by the increase in interest rates in recent quarters, as well as the increase in the company’s net debt, which reached R$9, 4 billion at the end of June.
Unidas’ results (BOV:LCAM3) referring to its operations for the second quarter of 2022 were released on 08/11/2022. Check out the full Press Release!
* With information from ADVFN, IR of the companies, Valor, Infomoney, Estadão, Reuters