Sixt Vz: SIXT SE Revises 2024 Financial Forecast Amid Q2 Business Developments

• Sixt SE has adjusted its forecast for the financial year 2024 based on Q1 2024 figures, developments in April, and expectations for the coming months.
• The company still expects significant growth in consolidated revenue for 2024 compared to 2023 (EUR 3.62 billion), but now expects consolidated earnings before taxes (EBT) of between EUR 350 and 450 million (previously: between EUR 400 and 520 million).
• In Q1 2024, consolidated revenue totalled EUR 780.2 million, and EBT amounted to minus EUR 27.5 million.
• For Q2 2024, the Management Board expects a further significant increase in consolidated revenue and a return to profitability with EBT of between EUR 60 and 90 million.
• The main reasons for the earnings forecast revision are a further deterioration in economic prospects, a repeated postponement of the interest rate reversal, a recent decline in market price level in some regions, and lower residual values leading to higher vehicle costs.
• Sixt expects significant tailwind for the second half of the year and beyond, due to measures aimed at generating additional, profitable revenue, increasing efficiency, improving fleet costs due to the continued reduction of electric vehicles, and the increased addition of new vehicles to the fleet acquired at more favourable conditions.

The price of Sixt Vz at the time of the news was 62,70EUR and was down -4,57 % compared with the previous day.
15 minutes after the article was published, the price was 60,20EUR this corresponds to a minus of -3,99 % since publication.

Sixt Vz

-1,63 %

-0,66 %

-3,51 %

-2,27 %

-21,35 %

-16,57 %

-9,45 %

+148,16 %

+163,78 %

ISIN:DE0007231334WKN:723133

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