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Overview

Our vision

Loyal customers choosing Avis everywhere.

Who we are

Avis Europe plc is a leading car rental company in Europe, Africa, the Middle East and Asia operating the globally recognised Avis and Budget brands.


Avis logo

The Avis brand operates across four continents via a network of over 2,800 locations in 110 countries, through wholly-owned subsidiaries in 13 countries complemented by franchisees in a further 97 countries.


Budget

The Budget brand, acquired by Avis Europe in March 2003, serves customers across three continents (Europe, Asia and the Middle East) through over 1,100 locations in 66 countries. These are predominantly franchise businesses with corporate operations in Austria and Switzerland, together with a small number of locations in France and the UK.

Strategic focus

We remain focused on our key strategic priorities, whilst continuing to adapt our business model to the difficult trading environment.

Brand leadership, service differentiation and geographic diversification

These priorities supported volumes in a weakening demand background, with Group revenues ahead by 1.3% on a constant currency basis.

Capital allocation

Capital management and cash generation are key priorities and we anticipate a positive free cash flow in 2009.

Cost efficiency

We took substantial and early actions to reduce costs to protect our operating margin which increased by 0.6% points to 8.6%.

Business model flexibility

We optimised our fleet levels and reduced capacity to match weakening demand, delivering a 0.2% improvement in utilisation.

Our market presence

We are a market leader in Europe with an aggregate 17.7% market share in our 10 largest corporately-owned countries
(Source: Euromonitor IMIS travel database 2007)
See Overview


Global presence Revenue by country: France 22%, Italy 17%, Germany 17%, Spain 15%, UK 15%, Other 14% European car rental market by brand: Avis Europe* 17.7%, Europcar** 25.6%, Hertz 15.3%, Sixt 8.7%
* Includes Budget 2.7%
**Includes Vanguard 5.0%
Source: Euromonitor IMIS Travel Database 2007