DGAP-News

Sixt SE: SIXT expects significant record annual result thanks to successful internationalisation strategy and continued high demand - Seite 2

According to preliminary figures, consolidated operating revenue in the third quarter of 2021 is expected to be approximately EUR 795 million (Q3 2020: EUR 460 million), while consolidated earnings before taxes (EBT) reached approximately EUR 253 million (Q3 2020: EUR 66 million). The average analyst estimate for EBT in the third quarter of 2021 of EUR 226 million was thus significantly exceeded. The projected quarterly revenue is in line with market expectations (average analyst estimate: EUR 807 million).

Internationalisation strategy pays off
SIXT had also forged ahead with its internationalisation strategy in the corona crisis year by making strategic investments in important growth markets, such as the U.S. Through the acquisition of ten major airport stations in 2020, the company had expanded its position as the fourth largest car rental company in the US and is now represented at 25 of the 30 most important airports in the largest car rental market in the world. As recently as August 2021, SIXT managed to become the market leader at Miami Airport.

Strong third quarter and updated forecast indicate record annual result
The preliminary results for the third quarter and the continued positive business development with a good market price level are decisive for the further increase of the forecast for financial year 2021. In addition, the high demand both here in Germany and abroad has continued so far in the fourth quarter. Based on the preliminary results for the third quarter, the current business situation and a correspondingly updated forecast for the coming months, the Sixt SE Managing Board has decided to raise the forecast again for financial year 2021. SIXT now expects consolidated operating revenue of between EUR 2.1 billion and EUR 2.3 billion (previously: between EUR 2.0 billion and EUR 2.2 billion) and consolidated earnings before taxes (EBT) of between EUR 390 million and EUR 450 million (previously: between EUR 300 million and EUR 330 million). The latest average analyst estimate for the Sixt Group's consolidated revenue for 2021 is in line with the forecast at EUR 2.21 billion. The forecast EBT range is significantly above market expectations (latest average analyst estimate: EUR 326 million).