Covenants

 

Unidas (Cia. de Locação das Américas) 2016 2017¹ 2018² 2019 2020 2021 1Q22
Net Debt / Fleet Value 66.3% 63.1% 37.4% 39.8% 40.7% 57.1% 61.3%
Net Debt / Annualized Recurring EBITDA 2.52x 2.51x 3.04x 2.19x 2.66x 2.48x 2.80x
Net Debt / Equity 2.05x 2.09x 0.79x 0.74x 0.90x 1.56x 1.72x
Recurring LTM EBITDA /  LTM Net Financial Expenses 2.17x 2.68x 3.04x 3.48x 4.64x 4.34x 4.43x

 

¹ Values referred to 2017 consider the consolidated results of Locamerica and Auto Ricci S.A..

² Values referred to 2018 consider the consolidated results of Locamerica and Unidas S.A..

Unidas S.A. 2016 2017 2018 2019
Net Debt / Recurrent EBITDA 2.40x 3.13x 2.85x 3.10x
Recurring EBITDA / Net Financial Expenses 2.38x 2.50x 3.31x 3.50x
Net Debt / Shareholders’ Equity 1.17x 1.58x 1.92x 1.70x