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Sixt SE: Sixt registers strong growth in its rental business and achieves record result for Q3 2013
DGAP-News: Sixt SE / Key word(s): Quarter Results
Sixt SE: Sixt registers strong growth in its rental business and
achieves record result for Q3 2013
19.11.2013 / 07:31
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- Earnings before taxes (EBT) 39.9% up on last year at EUR 56.8 million,
EBT after nine months at EUR 114.6 million
- Q3 rental revenue up by 13.1% due to stronger demand from business and
private customers in Germany as well as ongoing dynamic growth abroad
- Significant growth of leasing portfolio
- Consolidated operating revenue after nine months 5.8% higher at EUR 1.14
billion
- Managing Board raises expectations for full year 2013
Pullach, 19 November 2013 - Sixt SE, Germany's largest car rental company
and one of Europe's leading mobility service providers, recorded a very
good business performance for the first nine months of 2013, exceeding the
company's own expectations. The performance can be put down to an
exceptional strong third quarter, which saw buoyant domestic demand from
business and private customers in the Vehicle Rental Business Unit as well
as ongoing dynamic growth abroad.
Benefiting from the positive developments on the demand side, a high
utilization of the rental fleet and lower refinancing costs, the Sixt Group
recorded earnings before taxes (EBT) of EUR 114.6 million for the first
nine months, which is 10.2% more than the same period last year. At EUR
56.8 million, Q3 generated the strongest quarterly result in the company's
history. As a consequence, the Managing Board has upgraded its projections
for the full year 2013.
Erich Sixt, Chairman of the Managing Board of Sixt SE: 'Business
performance for the second half of the year has been very encouraging and
exceeds our expectations. Once again, Sixt is vindicating its top position
for profitability in the industry. Even today it is highly likely that we
will close out 2013 with a very good result.'
Group performance in the first nine months of 2013:
- Rental revenue rose 6.7% to EUR 774.6 million (9 months 2012: EUR 725.7
million) on the strength of a significant upturn in domestic demand
during Q3. After six months, growth had been a mere 2.9%. In Germany,
revenue after nine months was almost level with last year, while the
dynamic growth abroad continued unabated.
- Leasing revenue increased by 3.4% to EUR 292.2 million (9 months 2012:
EUR 282.6 million). This development was driven by a higher contract
portfolio, above all from growth in the segments of Mobility
Consulting, Fleet Management and Private Customers.
- Consolidated operating revenue (excluding revenue from the sale of used
- Earnings before taxes (EBT) 39.9% up on last year at EUR 56.8 million,
EBT after nine months at EUR 114.6 million
- Q3 rental revenue up by 13.1% due to stronger demand from business and
private customers in Germany as well as ongoing dynamic growth abroad
- Significant growth of leasing portfolio
- Consolidated operating revenue after nine months 5.8% higher at EUR 1.14
billion
- Managing Board raises expectations for full year 2013
Pullach, 19 November 2013 - Sixt SE, Germany's largest car rental company
and one of Europe's leading mobility service providers, recorded a very
good business performance for the first nine months of 2013, exceeding the
company's own expectations. The performance can be put down to an
exceptional strong third quarter, which saw buoyant domestic demand from
business and private customers in the Vehicle Rental Business Unit as well
as ongoing dynamic growth abroad.
Benefiting from the positive developments on the demand side, a high
utilization of the rental fleet and lower refinancing costs, the Sixt Group
recorded earnings before taxes (EBT) of EUR 114.6 million for the first
nine months, which is 10.2% more than the same period last year. At EUR
56.8 million, Q3 generated the strongest quarterly result in the company's
history. As a consequence, the Managing Board has upgraded its projections
for the full year 2013.
Erich Sixt, Chairman of the Managing Board of Sixt SE: 'Business
performance for the second half of the year has been very encouraging and
exceeds our expectations. Once again, Sixt is vindicating its top position
for profitability in the industry. Even today it is highly likely that we
will close out 2013 with a very good result.'
Group performance in the first nine months of 2013:
- Rental revenue rose 6.7% to EUR 774.6 million (9 months 2012: EUR 725.7
million) on the strength of a significant upturn in domestic demand
during Q3. After six months, growth had been a mere 2.9%. In Germany,
revenue after nine months was almost level with last year, while the
dynamic growth abroad continued unabated.
- Leasing revenue increased by 3.4% to EUR 292.2 million (9 months 2012:
EUR 282.6 million). This development was driven by a higher contract
portfolio, above all from growth in the segments of Mobility
Consulting, Fleet Management and Private Customers.
- Consolidated operating revenue (excluding revenue from the sale of used
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