Sixt Vz Hits Revenue Record in Q1, Bounces Back to Profitability in Q2 with Positive Full-Year Outlook

• SIXT SE set a new revenue record in Q1 2024, with a 12.3% year-on-year increase, marking the twelfth consecutive quarter of double-digit growth.
• The company's Q1 earnings before interest, taxes, depreciation and amortisation (EBITDA) reached an all-time high of EUR 217.8 million.
• Q1 earnings before taxes (EBT) were negatively impacted by market factors, particularly the decline in residual values for used cars, resulting in a loss of EUR 27.5 million.
• Countermeasures, including fleet optimization and efficiency measures, are expected to return the company to profitability in Q2, with an expected EBT between EUR 60 and 90 million.
• Despite challenges in Q1 and Q2, SIXT anticipates a significant increase in consolidated revenue for the full year of 2024, with an expected EBT between EUR 350 and 450 million.
• SIXT plans to open almost 100 new branches in 2024, half in Europe and half in the US, and continues to invest in its fleet and digital technologies to improve customer experience.

The price of Sixt Vz at the time of the news was 58,30EUR and was down -11,26 % compared with the previous day.
15 minutes after the article was published, the price was 58,20EUR this corresponds to a minus of -0,17 % 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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