ENTERPRISE RENT-A-CAR RECORDS ANOTHER YEAR
ENTERPRISE RENT-A-CAR RECORDS ANOTHER YEAR
OF INDUSTRY-LEADING GROWTH
Company achieves record totals for revenue, profits, vehicles, international presence.
Serves neighborhood and airport rental needs of leisure, replacement, and corporate customers alike
ST. LOUIS , Sept. 16, 2004 – Enterprise Rent-A-Car announced today that it continued to grow as North America ’s No. 1 rental car company for its 2004 fiscal year ended July 31, showing year-over-year increases in revenue, fleet size, and international presence.
Enterprise recorded $7.4 billion in worldwide revenue, a company record and up from $6.9 billion the previous year. The performance rounded out a 10-year period in which the company has nearly quadrupled its annual revenue – from $1.9 billion in 1994 – and posted a compound annual growth rate of 14 percent.
Enterprise also achieved a record combined total of 737,000 vehicles in its rental and fleet services (leased) inventories. Cumulatively, Enterprise rental vehicles are driven an estimated 85,000 miles every minute of every business day.
Privately-held Enterprise Rent-A-Car ranked No. 16 on the most recent Forbes magazine list of “America’s Largest Private Companies,” and its $7.4 billion in revenue would have placed the company at No. 267 in the most recent “ Fortune 500” ranking of publicly held U.S. companies.
In addition to record revenue, Enterprise also achieved record profitability in its recently completed fiscal year. Other company records include:
• Growing its employee base to more than 57,000 worldwide, up from 53,500 in FY 2003.
• Generating more than $500 million in revenue outside the United States , representing more than a 20 percent increase in its international business.
• Increasing its worldwide locations to more than 6,000 (neighborhood and airport) – nearly 5,400 U.S. and more than 600 international locations – averaging about two new branch openings every business day.
• Increasing its number of rental vehicles to more than 600,000, up from 559,000 vehicles last fiscal year.
• Increasing its number of fleet services (leased) vehicles to more than 135,000, up from 124,000 vehicles.
• Adding 27 on-airport locations, bringing the total number of on-airport locations to 170.
• Selling more than 65,000 used vehicles through its retail car sales network and its more than 150 car sales branches.
•Growing its commercial truck rental business to more than 60 locations in 15 states in only its fifth year of operation.
“In fiscal 2004, our company continued to fire on all cylinders, recording growth in all segments of our business – replacement, corporate, leisure, vehicle sales, and fleet services – while growing our business to record highs in all countries where we operate,” said Andrew C. Taylor, chairman and chief executive officer. “ Enterprise is proud to be an industry leader that’s driven by the entrepreneurial energy of a start-up company and focused on providing unparalleled customer satisfaction.”
Headquartered in St. Louis , Enterprise has operations in the United States , Canada , the United Kingdom , Ireland , and Germany .
About Enterprise Rent-A-Car
Enterprise Rent-A-Car is the largest rental car company in North America . It operates more than 700,000 Rental and Fleet Services vehicles worldwide and has annual revenues of $7.4 billion. Last year, Enterprise opened more than 500 new locations, increasing its total locations to more than 6,000. Enterprise is currently number 16 on the Forbes “500 Largest Private Companies in America ” list. For more information about Enterprise visit .
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