Hertz Global Holdings Inc. (OTCMKTS: HTZZW) Reports 62% Revenue Growth In Q2 2021

Operation Vala Zonke launched in Northern Cape

The Premier of the Northern Cape, Dr Zamani Saul, together with the MECs for Roads and Public Works, Ms Fufe Makatong, and Transport, Safety and Liasion, Ms Nomandla Bloem, joined by a team from SANRAL led by the Regional Manager, Mr Randal Cable, today launched the roll out of the provincial leg of Operation Vala Zonke. This is a national campaign aimed at repairing potholes.

Response to a Social Media post of a patient living with a disability waiting for a file

South Africa: Limpopo department of health has noted the story circulating on social media of a patient living with disabilities waiting for a file at Siloam Hospital.

Dominica continuously making new investments in education sector

Roseau, Dominica: The government of Dominica is making a new investment in the education sector without taking any break. The goal of the Caribbean country is to prepare youngsters for the future and utilize the new, modern technologies in order to advance the sector.

Official opening of Eastern Cape Arts Exhibition

South Africa: The Eastern Cape Arts Exhibition opened today at the Nelson Mandela Metropolitan Art Museum in St. George's Park.

Hertz Global Holdings Inc. (OTCMKTS: HTZZW) has announced its Q2 2021 financial results, up 62% minus Donlen revenue.

Hertz Global reported revenue of $1.9 billion

The company’s total revenues for Q2 2021 were $1.9 billion, indicating robust leisure travel demand and reduced fleet inventory. Hertz Global reported adjusted EBITDA of $639 million, with a margin of 34%. Strong revenues, excellent fleet management, and more than $400 million in recurrent and structural costs reductions contributed to the improvement. The company made a net loss of $168 million, or $1.05 per share, including $633 million in reorganization costs.

CEO and President Paul Stone said, “Hertz delivered an outstanding second quarter as travel continued to rebound. With resurgent demand and tight supply across the industry, we remained agile in managing our fleet to meet customers’ needs. At the same time, we benefited from the important operational and financial improvements we made through our restructuring process. Our improved financial position and capital structure give us the flexibility and resources to build upon our strengths and capitalize on accelerating momentum in the quarters ahead.”
Stone added, “We are optimistic about a sustained recovery and travel rebound. We are carefully managing our fleet accordingly to deliver superior customer experience while optimizing profitability.”

Hertz Global emerged from a Chapter 11 process in June

On June 30, 2021, Hertz Global exited from Chapter 11process as a well-capitalized corporation with the resources and flexibility to pursue exciting new development prospects. Hertz Global had $1.5 billion in non-vehicle debt outstanding at the end of the quarter, consisting of a Term B Loan of $1.3 billion and a Term C Loan of $245 million to enable the issue of letters of credit. In addition, a $1.3 billion first-lien revolving credit arrangement is also available to the company.

By the end of 2021, the company plans to re-IPO, which will entail an investor roadshow and a major capital market relisting.

Operation Vala Zonke launched in Northern Cape

The Premier of the Northern Cape, Dr Zamani Saul, together with the MECs for Roads and Public Works, Ms Fufe Makatong, and Transport, Safety and Liasion, Ms Nomandla Bloem, joined by a team from SANRAL led by the Regional Manager, Mr Randal Cable, today launched the roll out of the provincial leg of Operation Vala Zonke. This is a national campaign aimed at repairing potholes.

Response to a Social Media post of a patient living with a disability waiting for a file

South Africa: Limpopo department of health has noted the story circulating on social media of a patient living with disabilities waiting for a file at Siloam Hospital.

Dominica continuously making new investments in education sector

Roseau, Dominica: The government of Dominica is making a new investment in the education sector without taking any break. The goal of the Caribbean country is to prepare youngsters for the future and utilize the new, modern technologies in order to advance the sector.

Official opening of Eastern Cape Arts Exhibition

South Africa: The Eastern Cape Arts Exhibition opened today at the Nelson Mandela Metropolitan Art Museum in St. George's Park.

Deputy Minister Nocawe Mafu congratulates Team SA on pocketing more medals at the 2022 Commonwealth Games

Birmingham (UK): Team South Africa added four more medals to their collection at the ongoing Commonwealth Games in Birmingham on Saturday.

Female law enforcement officers kick off women’s month with special operations

South Africa: 3816 (Three thousand eight hundred sixteen) vehicles were checked, and 184 traffic fines were issued at roadblocks conducted by 238 female law enforcement officers and other stakeholders across the five municipal districts in the province.