SAO PAULO (Reuters) – Localiza, the country’s largest vehicle rental and fleet management company, announced on Tuesday that it had a profit of 442.1 million reais in the fourth quarter, an increase of 10% compared to the same period. of 2020.
The result for the period, however, was slightly below the average forecast of analysts consulted by Refinitiv, of 461.8 million reais.
According to the company, its operating result measured by earnings before taxes, interest, depreciation and amortization (Ebitda) from October to December totaled 935.4 million reais, a year-on-year increase of 24.3%, although it was also below the analysts’ average forecast of 966.5 million reais.
The Tribunal of the Administrative Council for Economic Defense (Cade) approved in December the merger of Localiza with the second largest in the sector, Unidas, through the sale of assets, including the Unidas brand.
Localiza reported last month that it experienced a partial outage of some of its systems due to a cybersecurity incident.
(By Peter Forntini and Aluísio Alves)
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