DGAP-Adhoc

Sixt generates positive earnings in the third quarter; in view of the currently drastically worsening effects of the COVID-19 pandemic, no forecast for financial year 2020 can be issued yet.

DGAP-Ad-hoc: Sixt SE / Key word(s): 9 Month figures Sixt generates positive earnings in the third quarter; in view of the currently drastically worsening effects of the COVID-19 pandemic, no forecast for financial year 2020 can be issued yet. 21-Oct-2020 / 21:17 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. Sixt generates positive earnings in the third quarter; in view of the currently drastically worsening effects of the COVID-19 pandemic, no forecast for financial year 2020 can be issued yet.

Pullach, 21 October 2020 - According to the evaluation of preliminary business figures that was completed today, consolidated earnings before taxes (EBT) from continuing operations (excluding the discontinued Leasing business) for the first nine months of financial year 2020 are expected to amount to around EUR -57 million (previous year adjusted: EUR 260.0 million) and consolidated operating revenue is expected to amount to around EUR 1,171 million (previous year adjusted: EUR 1,908.3 million). Consolidated earnings before taxes (EBT) from continuing operations in the third quarter of 2020 are expected to amount to approximately EUR 66 million (previous year adjusted: EUR 146.6 million) and consolidated operating revenue is expected to amount to approximately EUR 460 million (previous year adjusted: EUR 778.2 million). The results from the discontinued Leasing business, in particular the one-time special effect from the sale of the investment in Sixt Leasing SE, which was closed in July 2020, are not included in the consolidated earnings before taxes (EBT) mentioned above. Of this amount, the shareholders of Sixt SE are entitled to profit after taxes of around EUR 65 million.

The positive consolidated earnings before taxes (EBT) in the third quarter of 2020 are in particular due to the travel restrictions, which were partially lifted or significantly reduced during these summer months when demand was strong, as well as the extensive cost-reduction measures both in the vehicle fleet and in other costs. Thanks to the consistent action taken, other costs of considerably more than EUR 200 million were saved in the first nine months, which already exceeds the target of EUR 150 million for the year as a whole.