DGAP-News

Sixt Leasing raises profitability still further during Q1 2016 - Seite 2

of used leasing vehicles.

- Operating revenue (without the proceeds from sales) dropped slightly by
2.5% to EUR 103.4 million (Q1 2015: EUR 106.0 million). This decrease
is mainly attributable to lower income from fuel services due to price
declines. Adjusted by fuel service income, the quarterly operating
revenue increased from the previous year's first quarter by 1.1%.

- Sales proceeds climbed substantially, up by 19.6% to EUR 71.0 million
after EUR 59.3 million for the same period the year before. This gain
reflects the higher number of vehicles being returned after the strong
expansion of the contract portfolio over the last few years as well as
the increasing number of vehicles which are being marketed on
customers' behalf in the Fleet Management segment.

- Sixt Leasing Group generated consolidated earnings before taxes (EBT)
of EUR 8.1 million, an increase of 10.5% compared to the same figure
the year before (EUR 7.3 million).

- The operating return on revenue (EBT/operating revenue) gained in line
with strategy and climbed 13.3% to 7.8% (Q1 2015: 6.9%).

Private and commercial customers: contract portfolio increased by almost
one third
As at reporting date, 31 March 2016, the Group's total number of contracts
inside and outside Germany (excluding franchisees and cooperation partners)
increased to 105,000 or 5.7% more than the 98,400 contracts recorded at the
end of March 2015. The number of contracts managed by the Online Retail
business field was up by 31.3% to 23,000 contracts.

Strong equity ratio, credit lines of over EUR 350 million negotiated
As at 31 March 2016 the Sixt Leasing Group recorded consolidated equity of
EUR 184.1 million, some EUR 5.8 million more than at 31 December 2015. The
equity ratio improved from 16.0% to 16.4% and remained above the targeted
minimum level of 14%.

Transferring the Group financing to external partners as announced during
the IPO in May 2015 remains fully on schedule. As at the end of April,
credit lines of over EUR 350 million had been negotiated with bank
partners. In addition, a borrower's note loan in the amount of EUR 30
million was successfully placed on the capital market in the beginning of
May. It is also expected to conclude an ABS-financing structure ("Asset
Backed Securities") with a volume of up to EUR 500 million by mid-2016. The
new, external financing agreements are supposed to reduce interest costs
substantially over the next few years.

Performance of the business units
The Sixt Leasing Group divides its operative business into the two business