DGAP-News

Sixt Leasing affirms outlook for full-year 2017 following strong growth in Q1 - Seite 2

The other two business fields kept their contract portfolio mainly stable. Thus, the number of contracts in Fleet Leasing at the end of Q1 came to 47,300 contracts, while Fleet Management registered 38,900 contracts. All in all, the Group's total number of contracts inside and outside Germany (excluding franchise and cooperation partners) gained a significant 7.8 percent to 122,500 contracts.

Also consolidated revenue for the first quarter of 2017 climbed 7.6 percent year-on-year to EUR 187.7 million. At the same time, operating revenue (without the proceeds from vehicle sales) improved above average by 8.9 percent to EUR 112.5 million. Revenues from the sale of returned leasing vehicles and the marketing of customer cars gained 5.9 percent to EUR 75.1 million.

Consolidated earnings before taxes (EBT) increased by 5.1 percent to EUR 8.5 million. The operating return on revenue came to 7.5 percentage points and was thus almost on a par with the last year's figure of 7.8 percent and still substantially above the targeted 6.0 percent. Compared with Q4 2016, the equity ratio decreased slightly by 0.9 percentage points to

15.7 percent due to the bond placement, but was still substantially above the declared minimum of 14.0 percent.

One of the highlights of Q1 was also the successful placement of Sixt Leasing SE's first corporate bond with a volume of EUR 250 million and a coupon of 1.125 percent. The bond issue met with lively demand from domestic and international investors and was oversubscribed several times.

Björn Waldow, CFO of Sixt Leasing SE: "With our debut on the bond market we passed another important milestone towards setting up our own independent and diversified financing structure. We are now well positioned to repay further partial amounts of the loan granted by Sixt SE and are thereby lowering our interest rate costs still further."


The Sixt Leasing Group in Q1 2017 at a glance

(Figures in accordance with IFRS)¹

 

Revenue performance