If you were unable to attend Avis Budget Group’s Investor Day, here is a recap of the key messages.
Avis Budget Group’s Chairman and Chief Executive Officer, Ronald L. Nelson, kicked-off the Company’s 2014 Investor Day in New York City. During his presentation, he outlined the Company’s key accomplishments since the last investor gathering in 2012, including:
Mr. Nelson and other members of the senior leadership team then addressed the question on everyone’s minds: “How do you plan to reach your $1 billion Adjusted EBITDA target by 2015?”
Executives provided an overview of the Company’s operations and market dynamics in various parts of the world, and discussed the Company’s strategic plan. They discussed growth drivers and efforts to capitalize on global expansion opportunities, as well as their view that the Company is still not receiving pricing that fully reflects the quality and value of the service Avis Budget Group provides. Executives reaffirmed that the Company can continue to drive operational and organizational efficiencies and improve its yield and fleet management. And lastly, they highlighted how the Company’s business model has proven to consistently generate strong, positive free cash flow and its plan for seizing future opportunities.
This message contains forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Important assumptions and other important factors that could cause actual results to differ materially from those in the forward-looking statements are specified in our 2013 Annual Report on Form 10-K including under headings such as “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations.”