EQS-News

SIXT sets new revenue record in first quarter, Q1 EBT impacted by market factors – return to profitability in Q2 with positive outlook for full year

EQS-News: Sixt SE / Key word(s): Quarter Results SIXT sets new revenue record in first quarter, Q1 EBT impacted by market factors – return to profitability in Q2 with positive outlook for full year 03.05.2024 / 15:43 CET/CEST The issuer is solely responsible for the content of this announcement. SIXT sets new revenue record in first quarter, Q1 EBT impacted by market factors – return to profitability in Q2 with positive outlook for full year

 

• Strong demand drives Q1 revenue increase by 12.3% year-on-year; twelfth consecutive quarter of double-digit growth
• Highest ever Q1 earnings before interest, taxes, depreciation and amortisation (EBITDA) of EUR 217.8 million demonstrates operational strength
• Q1 earnings before taxes (EBT) of minus EUR 27.5 million significantly impacted by adverse market factors, in particular residual value development
• Counter measures: tightening of the fleet to optimise utilisation, improving fleet costs via increased rotation, further efficiency measures and continued expansion taking effect – Q2 back in the profit zone (EBT expected to be between EUR 60 and 90 million)
• Significant tailwind for the second half of the year and beyond: consolidated revenue for the full year of 2024 anticipated to increase significantly and (despite charges in Q1 and Q2) EBT is expected between EUR 350 and 450 million

 

Pullach, 3 May 2024 – Demand for the services of SIXT, a leading international mobility provider, has remained consistently high. In the first three months of 2024, SIXT continued its growth trajectory generating a consolidated revenue of EUR 780.2 million (+12.3%). This is the twelfth consecutive quarter of double-digit year-on-year growth. The three segments, North America with +21.6%, followed by Germany (+11.5%) and the European markets outside Germany (+5.0%) as well as a fleet of 162,000 rental vehicles (+8.9%; excluding franchises), contributed to the revenue growth, successfully serving the increasing demand.