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Sixt SE: SIXT shifts up a gear and invests in its network, technology and products, but points to continuing uncertainties at its Annual General Meeting - Seite 2

Investments in the strategically relevant fields of its network, digitalisation and products
Erich Sixt cited the network of stations as a focal point for future investments, which the mobility service provider is planning a significant expansion of in Europe and the US. This will take the form of physical, but also virtual stations where the smartphone replaces the rental counter. In addition, the company will continue to invest in the digitalisation of its products and services. "Over the years, SIXT has developed into a tech company with connected car rental. We are convinced that the company that has the best technology has a decisive competitive advantage on their side. The pandemic has not slowed us down on this path and in our striving for innovation," said Erich Sixt.

With regard to products, Erich Sixt mentioned the expansion of the Van & Truck segment in order to benefit from the strong increase in demand for vans and trucks up to 7.5 tonnes. The company sees an important demand driver here in the advance of online trade and delivery services, which have received a further boost from the pandemic. The main focus will be on digitalising the product range and processes in order to offer Van & Truck customers real added value, as in car rental. "Our strategy remains clearly focused on growth. SIXT has technological expertise, capital strength and financing power that are unparalleled in this combination in the industry," summarised the CEO.

In view of the growth projects and in cautious expectation of a further increase in demand, Erich Sixt anticipates a significant need for personnel. Accordingly, SIXT plans to hire additional employees. Before filling new positions, however, reactivating its existing workforce to full strength has priority. If the positive development of demand in recent weeks continues, the company will seek to gradually end short-time work by the end of June, Sixt indicated.

Prudence still called for
At the same time, Erich Sixt emphasised: "With all steps we take, it is important to remain forward-looking and to drive on sight. The experience of the past year has taught us this." Due to the continuing great uncertainties regarding the further course of the year, it was not possible for Sixt SE to issue a forecast for the course of business in 2021 as a whole. However, the basic optimism is "greater than it was a few months ago," said Erich Sixt and justified this with the developments in demand currently observed in the US and Europe.