Hertz loses almost 170 million in the first quarter of the year, 10% less

The American vehicle rental company Hertz recorded a net loss of 202 million dollars (169.7 million euros at the current rate) in the first three months of the year, which is almost 10% less than the 223 million ( 187.3 million euros) that it lost in the same period of the previous year, according to the company in a press release.

The president and CEO of the company, Kathryn V. Marinello, pointed out that Hertz began 2018 by strengthening its team and managing its assets more “effectively”.

“Progress is motivating for our employees and for the company to be recognized by our clients, but we still have work to do, and we have important opportunities before us to achieve long-term sustainable growth,” he said.

So far this year, Hertz had a turnover of 2,063 million dollars (1,734 million euros), which translates into an increase of 7.6% compared to the same period last year.

For its part, the corporation recorded between January and March losses before taxes of 231 million dollars (194 million euros), compared to 294 million (247 million euros) lost in the first three months of 2017.