DGAP-News

Sixt SE: Sixt records good start into 2014 - Seite 2

contract portfolio.

- Consolidated earnings before taxes (EBT), the Sixt Group's principal
earnings parameter, improved 19.5% to EUR 26.6 million (Q1 2013: EUR
22.3 million). As in last year's quarter the result includes start-up
costs for strategic growth initiatives.

Investments in the rental and lease fleets expanded
In the first quarter of 2014 Sixt added a total of 41,700 vehicles with a
total value of EUR 1.00 billion to the rental and leasing fleets at home
and abroad, compared to 36,500 vehicles with a value of EUR 0.88 billion
over the same period last year. This equals an increase of 14% in the
number of vehicles and in the value of vehicles. These stronger investments
in the fleet take due account of higher demand at home and abroad.

Rock-solid equity base
At the end of the first quarter the Sixt Group recognised equity of EUR
695.1 million compared with EUR 675.5 million as at the end of December
2013. This equals an equity ratio of 27.0% (31 December 2013: 28.5%), which
continues to be clearly above the minimum target of 20% and well above the
average of the entire rental and leasing industry.

Outlook for full year 2014
Against the background of economic conditions picking up again and
following the good performance in the first quarter, the Managing Board
affirms its outlook for the full fiscal year 2014, expecting consolidated
operating revenue to climb slightly over last year's total. Growth stimulus
should once again come predominantly from the markets abroad. On the basis
of a continued demand-driven and cautious fleet policy and a consistent
cost management, the aim is to achieve a stable to slightly higher Group
EBT.

Developments in the operating business units

Vehicle Rental
Sixt is represented with its own subsidiaries in the core European
countries of Germany, France, Spain, the UK, the Netherlands, Austria,
Switzerland, Belgium, Luxembourg, and Monaco (Sixt Corporate countries).
This means that the Company covers the largest part of the European rental
market and is one of the continent's leading vehicle rental companies.
Since 2011 Sixt has also been active in the USA through its own subsidiary.
In the other European countries and in other global regions, the Sixt brand
is represented by a close-knit network of franchisees. The number of rental
offices (corporate and franchise) increased worldwide to 2,112 during the
first quarter of this year, predominantly in the franchise countries but
also in the corporate countries USA and France.

In the first quarter of 2014 Sixt continued to expand its presence in the
USA, the world's largest vehicle rental market. As at reporting date, 31