Enterprise Holdings Delivers Strong Annual Performance Across Business Lines
ST. LOUIS, Nov. 6, 2013 /PRNewswire/ -- Enterprise Holdings – which owns and operates the Enterprise Rent-A-Car, National Car Rental and Alamo Rent A Car brands – registered strong revenue growth in its fiscal year 2013. The company and its affiliate Enterprise Fleet Management generated $16.4 billion in revenue.
Fiscal 2013 results further strengthened Enterprise Holdings' position as the world's largest car rental company as measured by revenue, fleet and employees. In addition, the Enterprise, Alamo and National brands – continuing to build on the company's customer-service legacy – swept the top three J.D. Power and Associates spots for car rental satisfaction during fiscal 2013.
Enterprise Holdings is privately held by the Taylor family of St. Louis, who also owns Enterprise Fleet Management, the market leader in serving businesses with medium-sized commercial fleets. "This past year was one of our best ever," said Enterprise Holdings president and chief executive officer, Pamela M. Nicholson – only the third CEO in the company's 56-year history and the first to come from outside the Taylor family, succeeding Andrew C. Taylor, who is now Executive Chairman.
Enterprise Holdings remained focused on delivering a total transportation solution to individuals and companies alike throughout the fiscal year, which ended July 31. "Our comprehensive suite of businesses, from car and truck rental to car sharing and car sales, provided a solid business foundation and prepared us for new opportunities, technologies and lines of businesses," Nicholson stated.
She also credits the company's strong culture and responsible approach to growth. "For example, one of our major priorities is maintaining fleet flexibility in a thoughtful and strategic way," Nicholson explained. "We constantly work to adjust the number of rental vehicles based on peak travel times, natural disasters and other external factors that influence customer demand – and all without dramatically impacting our financial results."
Fiscal-year highlights for Enterprise Holdings, the only investment-grade car rental company in North America, include:
- Fleet: Enterprise Holdings and Enterprise Fleet Management together own more than 1.4 million cars/trucks, the largest fleet of passenger vehicles in the world. The total fleet has grown by 23 percent in the past three years.
- Employees: The company and its Enterprise Fleet Management affiliate have more than 78,000 employees worldwide.
- Locations: More than 8,100 in 50 countries and territories.
- Sales of used vehicles: FY13 was the first year Enterprise Holdings sold more than 1 million vehicles worldwide through its dealer, consumer and auction car sales channels.
- Car sharing: Enterprise CarShare is now available in more than 35 U.S. states, Canada and the U.K., including more than 70 universities, plus 40 government and business campuses.
- Expansion: The company's global network continued to expand in Latin America and the Caribbean, Europe and Asia-Pacific. Between corporate-owned locations in the U.K., Ireland, Germany, France and Spain and its rapidly expanding franchise network, the Enterprise Rent-A-Car brand now has a presence in more than 90 percent of the European rental market.
In total, the annual revenues of Enterprise Holdings and Enterprise Fleet Management rank near the top of the travel industry, ahead of many airlines and most cruise lines, hotels, tour operators and online travel agencies. These combined revenues make Enterprise the 14th largest private company in the U.S. and, if it were a public company, also would place it as number 174 on the Fortune 500 list. Enterprise Holdings engages quarterly with its financial stakeholders via investor conference calls and provides Generally Accepted Accounting Principles (GAAP) numbers for maximum consistency, comparability and transparency. As a privately held business, Enterprise Holdings does not disclose net income.
Enterprise has been providing affordable, accessible transportation alternatives right where customers live and work for more than 55 years. "We are a very grassroots-oriented company, with the largest local network in the world and a proud history of serving thousands of communities, large and small," Nicholson added.
In 2013, Enterprise consolidated its retail car-sharing programs under the Enterprise CarShare name, while also expanding Enterprise Rideshare − one of the country's leading commuter carpooling and vanpooling programs. In addition, Enterprise Holdings acquired Zimride, the largest ride-matching program in the U.S. with more than 350,000 users, as well as the Chicago car-sharing nonprofit, IGO CarSharing.
Giving back to communities where its customers and employees live and work likewise is a long-held value at Enterprise. The company's philanthropic arm, the Enterprise Holdings Foundation, provided $22 million in grant funding to charitable causes in fiscal year 2013, with 87 percent of funds fulfilling employee requests to support community organizations that they actively support.
Today, Enterprise Holdings also released its 2013 sustainability report, highlighting the company's progress in reducing its overall carbon footprint and promoting the adoption of alternative fuels and emerging automotive technologies. Notably, Enterprise has reduced its electricity usage by 13 percent and its natural gas consumption by 21 percent, compared to its 2010 baseline. In addition, Enterprise – in partnership with the Arbor Day Foundation and U.S. Forest Service – continued its 50 Million Tree Pledge, through which it has planted more than 8 million trees in national forests throughout the U.S., Canada and Europe since 2007, including a special reforestation effort at the Flight 93 National Memorial earlier this year in Pennsylvania.
The Enterprise Rent-A-Car Institute for Renewable Fuels at the Donald Danforth Plant Science Center also continues to distinguish itself by developing new technology to better understand constraints to algal growth and productivity of bioenergy grasses. To date, it has filed 13 patents, and has designed and built a robotic laboratory automation system to test the properties of genetic master switches controlling plant growth and development. Further, the Institute is participating in a $31 million Department of Energy-funded consortium focused on new technologies for more cost-effective production of algal biomass and oils on a commercial scale.
About Enterprise Holdings
Enterprise Holdings and its affiliate Enterprise Fleet Management together offer a total transportation solution. Enterprise Holdings, through its regional subsidiaries, operates the largest fleet of vehicles in the world through a global network of neighborhood locations under the Enterprise Rent-A-Car, National Car Rental and Alamo Rent A Car brands. Enterprise Fleet Management provides full-service fleet management to companies and organizations with medium-sized fleets. Other transportation services marketed under the Enterprise brand name include Enterprise CarShare, Enterprise Rideshare, Enterprise Car Sales and Enterprise Commercial Trucks.
SOURCE Enterprise Holdings