Locamerica reported consolidated earnings results for the second quarter and six months of 2016. For the quarter, the company's operational revenues were BRL 113,648,000 compared to BRL 108,046,000 a year ago. Operating income was BRL 37,292,000 compared to BRL 29,798,000 a year ago. Earnings before taxes was BRL 8,482,000 compared to BRL 6,119,000 a year ago. Net income was BRL 7,578,000 compared to BRL 5,483,000 a year ago. The increase in net income, along with net margin expansion, proves that, despite the challenging macro scenario, the management has been successful implementing several value creation initiatives, which are already positively affecting the Company's results. EBITDA was BRL 62,732,000 compared to BRL 54,323,000 a year ago. This important profitability expansion can be explained mainly by the better result of the Seminovos division and by the optimization of the fleet costs. As of second quarter 2016 net debt reached BRL 615.4 million, a decrease of 14.9% over second quarter 2015. For the first half, the company's net cash provided by operating activities was BRL 154,924,000. Acquisition of other fixed assets and intangible was BRL 1,266,000.