A Message from Our CEO The Herc Rentals team commitment to corporate citizenship was never more apparent than in 2020 as we faced the COVID-19 pandemic. We overcame multiple challenges as we focused on ensuring the health and safety of our employees and communities while meeting the needs of our customers. Our Purpose — We equip our customers and communities to build a brighter future — inspires Team Herc as we perform our daily work and also confers an obligation to operate mindful of our commitments as a responsible global citizen. Our Board of Directors, Senior Leadership Team and operations management embrace that obligation throughout our organization, which encompasses 4,800 employees in 282 locations in the United States and Canada.
Equipment Rental Epitomizes a Sharing Economy
Larry Silber President and Chief Executive Officer Herc Holdings Inc.
The equipment rental industry highlights the benefits of a sharing economy by minimizing manufacturing and materials purchasing, and the subsequent reduction of related emissions and pollutants that have been associated with negative impacts to our environment. In addition, by maintaining a premium fleet and updating it annually — with investments in state-of-the-art fuel- and energy- efficient fleet — we assist our customers to achieve their environmental goals and to operate more cost efficiently than if they were to purchase equipment they didn't fully utilize. Despite a very challenging environment with reduced demand from our customers due to the economic slowdown related to the COVID-19 pandemic in 2020, we strengthened our balance sheet by reducing net leverage and improved productivity with higher adjusted EBITDA margins compared to 2019. We shared our financial results in our 2020 Annual Report and 10-K and in the recently filed Q1 2021 Form 10-Q (https://ir.hercrentals.com/financial-information/sec-filings). Our strategic initiatives, as highlighted on page 3, provide the road map for our long-term success. They also encompass several areas related to environmental, social and governance matters that are fundamental to sound corporate citizenship.
H E R C H O L D I N G S I N C . Our Commitment to Corporate Citizenship | 2 0 2 1
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