LZRFY - Localiza Rent a Car S.A. (LZRFY) Q4 2023 Earnings Call Transcript
2024-03-12 16:40:02 ET
Localiza Rent a Car S.A. (LZRFY)
Q4 2023 Earnings Conference Call
March 12, 2024, 10:00 AM ET
Company Participants
Bruno Sebastian Lasansky - CEO
Rodrigo Tavares Gonçalves de Sousa - CFO
Nora Lanari - Director of IR
Conference Call Participants
Fernanda Recchia - BTG Pactual
Guilherme Mendes - JPMorgan
Filipe Nielsen - Citi
Gabriel Rezende - Itau BBA
Pedro Bruno - XP
Rogerio Araujo - Bank of America
Bruno Amorim - Goldman Sachs
Alberto Valerio - UBS
Presentation
Operator
Good afternoon. Welcome to the Localiza&Co webinar regarding the Results of the Fourth Quarter and the Year of 2023. With us today we have Bruno Lasansky, our CEO; Rodrigo Tavares, CFO; and Nora Lanari, Director of Investor Relations for the Company.
We'd like to inform you that this webinar is being recorded and will be made available at ri.localiza.com, where you can find the complete disclosure of the results. The presentation is also available for download on the IR website. For the Q&A session for analysts and investors would kindly ask you to inform your interest in participating via the Q&A icon at the bottom of your screens by typing your name, company, and language. When called upon, a request to unmute will appear on the screen. To submit questions in writing, please use the Q&A icon at the bottom of your screen and inform your name and company before your question.
Please note that the amounts in this presentation are in millions of Brazilian Reais and in IFRS. I would like to emphasize that the information contained in this presentation and any statements that may be made during the video conference regarding Localiza business outlook, projections, and operational and financial targets of Localiza are the -- based on the beliefs and assumptions of company management, as well as information currently available. Future considerations are not guarantee of performance as they involve risks, uncertainties and assumptions and refer to future events therefore depend on circumstances that may or may not occur.
Now I'll hand over to Bruno Lasansky, CEO of the company, to begin his presentation.
Bruno Sebastian Lasansky
Good morning, everyone.
In 2023, we celebrated the 50 years of Localiza&Co, a year that was marked by remarkable advances and significant challenges. We progressed in the integration process with substantial gains in productivity. We've expanded our Seminovos sales network, contributing to the increase in car sales volume and the reduction of the average age of cars sold, which is still distant from our historical level. Furthermore, we increased the capillarity of car rental, which showed revenue growth in all segments, more than offsetting the effects of the carve-out.
We scaled Localiza fast, offering an agile and completely digital experience, expanding the differential in enchantment to our customers. We've captured strong growth in fleet rental, highlighting the success of Localiza Meoo, our subscription car. We successfully started our operations in Mexico with the opening of 10 branches in the main airports, approximately 1,000 cars in the fleet, and an NPS at an excellent level....
Localiza Rent a Car S.A. (LZRFY) Q4 2023 Earnings Call Transcript