The company managed to increase the profitability of its \"rent a car\" business by charging higher rates<\/p>\n\n\n\n
Movida (MOVI3), the vehicle rental and fleet management company of the Simpar group (SIMH3), posted a net profit of R$ 78.2 million in the third quarter of 2024, reversing the loss of R$ 65.7 million in the same period in 2023. The company's adjusted net profit, which disregards one-off effects, was R$ 90.6 million, compared to a loss of R$ 63.7 million a year earlier.<\/p>\n\n\n\n
It was supposed to be a seasonally weaker quarter, but the period brought record figures, says the company. This is the case with consolidated earnings before interest, taxes, depreciation and amortization (Ebitda), of R$ 1.248 billion, up 43.7%.<\/p>\n\n\n\n
Gustavo Moscatelli, CEO of Movida, attributes the performance to the repricing of daily rates in the rent-a-car<\/em> (RAC) and contracts in the fleet management and outsourcing line (GTF) along with \"cost and expense management with a lot of austerity,\" the executive told the InfoMoney<\/strong>. <\/p>\n\n\n\n Between July and September this year, Movida recorded net revenue of R$ 3.776 billion. The amount is 34.5% higher than that obtained a year earlier. <\/p>\n\n\n\n