DGAP-News

Sixt Leasing SE: Sixt Leasing expands contract portfolio and raises profitability during first nine months of 2016 - Seite 2

and the remarketing of customer vehicles in the Fleet Management
business unit.

- Consolidated operating revenue (without the proceeds from vehicle
sales) dropped slightly by 1.9% to EUR 318.4 million (9M 2015: EUR
324.5 million). The decline is mainly the result of lower fuel prices
depressing the revenue from fuel. Adjusted for this effect,
consolidated operating revenue increased by 1.7%.

- Sixt Leasing recognises consolidated earnings before taxes (EBT) of EUR
23.9 million, an increase of 9.8% on the same figure the year before
(9M 2015: EUR 21.7 million). EBT in Q3 was negatively impacted by
expenditures of around EUR 2 million for the new vehicle broker
autohaus24 GmbH that was acquired in April and its integration as well
as the continuation of the TV advertising campaign. This was offset by
positive effects arising from the ongoing reorganisation of the Group's
financing. After the redemption of EUR 209 million from the Sixt SE
Core Loan at the end of June 2016, the financial result in the third
quarter improved by EUR 1.0 million compared to the second quarter
2016.

- Operating return on revenue (EBT/operating revenue) gained in line with
strategy for qualitative growth by 11.9% to 7.5% (9M 2015: 6.7%).

Björn Waldow, CFO of Sixt Leasing SE:
"The economic benefits from building-up an independent financing structure
become more and more visible. Following the repayment of EUR 209 million
from the Sixt SE Core Loan the financial result improved by EUR 1.0 million
in the third quarter only. This effect will continue in the next quarters.
By gradually redeeming the remaining loan amount of EUR 490 million, we
expect further significant savings in the future."

Contract portfolio keeps growing
As of 30 September 2016 the Group's total number of contracts inside and
outside Germany (excluding franchisees and cooperation partners) amounted
to 111,000 contracts (31 December 2015: 103,200 contracts; +7.5%).
The gain is essentially due to the dynamic development of the Online Retail
business field, whose contract portfolio improved by 22.3% to 25,800
contracts (31 December 2015: 21,100 contracts). In the Fleet Leasing
business field the number of contracts totalled 47,400, which was slightly
lower than at the end of the previous year (31 December 2015: 48,300;
-2.0%) but 1.1% up on the figure at the end of the previous quarter.
For the Fleet Management business unit the number of contracts at the end
of the third quarter climbed to 37,800, 11.9% more than on 31 December 2015