After record year Sixt expects for 2017 further growth of revenue and earnings

• Record earnings before taxes (EBT) climb by 17.9% to EUR 218.3 million, including a one-time effect
• Dividend for 2016 to increase to EUR 1.65 for ordinary shares and EUR 1.67 for preference shares
• Rental business outside of Germany continues to grow significantly above market level
• Ongoing European expansion: market entry into Italy as new Sixt corporate country in 2017
• Sixt creates mobility of the future: “Mobility as a Service” (MaaS) to become innovative alternative to company car

Pullach, 15 March 2017 – The Sixt Group registered a highly successful fiscal year 2016 and continued the trend of the preceding years. Business performance exceeded original projections and was characterised by ongoing progress in the worldwide expansion as well as record figures for consolidated operating revenue and Group earnings. For the first time in corporate history earnings before taxes (EBT) scale the EUR 200 million mark as they climb 17.9% year-on-year to EUR 218.3 million. Shareholders are set to benefit in the gratifying business performance with dividends for ordinary shares up to EUR 1.65 and for preference shares to EUR 1.67. For the current fiscal year the Managing Board expects to see another slight increase in revenues and a stable to marginally higher EBT.

Sixt presents the preliminary key figures for the Group’s annual financial statements 2016 during the company’s annual press conference today in Munich.

Erich Sixt, CEO of Sixt SE: “2016 was an all-out success for Sixt. Our hallmarks are and remain profitability and innovation. There are many around pretending to offer mobility for the future, but the fact is that Sixt already offers today the products and necessary expertise to provide our customers with a holistically integrated automotive mobility. We continue to define the industry’s benchmarks as innovation leader with our new services, such as MaaS or Sixt fastlane.”

Italy as new Sixt corporate country
After expiration of contract with a franchisee, in future Sixt will be present in Italy through its own network of stations. With an annual volume of around EUR 1.1 billion, Italy is among the larger vehicle rental markets in Europe. Following the successful opening of stations at the airports in Rome and Milan the network of stations is set to expand continually, with a focus on airports and larger business and holiday destinations in the North of Italy.

Mobility as a Service (MaaS): Sixt unifies services in flexible mobility budgets
In 2016, Sixt successfully launched new mobility products on the market, above all “Mobility as a Service” (MaaS), which is a cost-saving and demand-driven alternative to the own car. Instead of owning a car that is utilized only 4% in day to day conditions, Sixt offers individualized mobility budgets. User have access to a variety of Sixt products (Sixt Rent a Car, the premium carsharing service DriveNow and the chauffeur service myDriver). The services are bookable and usable online in over 60 countries via a user-friendly portal.

For corporations, MaaS is an economical alternative to the classic company car model as well as an attractive incentive for employees that provides cost transparency and a minimum of administration. Employees can enjoy the flexible usage of these mobility services for private purposes. Sixt has already won over renowned reference clients for MaaS and plans to continually expand the offer in 2017.

The new Sixt fastlane service that was introduced 2016 at selected stations in Switzerland met with a very positive response. Sixt fastlane enables to handle the entire vehicle rental via a Sixt-App from a smartphone. Customers can select their booked vehicle maximally 30 minutes before collection and open the car directly without having to see the counter. Following the good feedback, this innovative service is set to be rolled out in additional countries.

Shareholder-friendly dividend policy
Subject to the approval of the Supervisory Board, the Managing Board will propose to the Annual General Meeting on 30 June 2017 to increase the dividend for fiscal year 2016 to EUR 1.65 for ordinary shares and EUR 1.67 for preference shares. For the preceding year the payouts had been EUR 1.50 for ordinary shares and EUR 1.52 for preference shares. This would increase the total dividend payout from EUR 71.5 million to EUR 77.7 million.

Dr. Julian zu Putlitz, CFO of Sixt SE: “Last year Sixt once more demonstrated that it is one of the worldwide most profitable vehicle rental companies. The strong earnings position and strength of our equity provide us with the platform to continue our traditional shareholder-friendly dividend policy and to propose to our shareholders the payment of a record dividend for 2016.”

Key Group figures for fiscal year 2016

• The Group’s total revenue climbed 10.7% to EUR 2.41 billion after EUR 2.18 billion the year before. The strong growth is above all due to the continued expansion of the vehicle rental business in Europe outside of Germany and the USA.
• Rental revenues once more showed growth outstripping the market average and expanded by 11.4% to EUR 1.53 billion (2015: EUR 1.38 billion). This was down to the strong demand in foreign markets. Here rental revenues climbed 20.7%. The share of foreign business in total rental revenues therefore gained significantly and climbed from 49.2% in 2015 to 53.3%.
• Leasing revenue of EUR 219.3 million was slightly up on the level of last year 
  (EUR 211.4 million; +3.7%). Sixt Leasing SE continued its course of creating strong margin-oriented growth in its new businesses.
• Consolidated earnings before taxes (EBT), the Sixt Group’s principal success parameter, gained 17.9% to a record figure of EUR 218.3 million (2015: EUR 185.2 million). Earnings therefore outperformed the revenue growth despite persistently higher extra expenses for strategic expansion measures. The result also includes a one-time effect at an amount in the mid-single digit million region from the reversal of a legal risk provision, which is no longer required.
• Consolidated profit climbed 22.2%, from EUR 128.2 million to EUR 156.6 million.

Outlook for fiscal year 207
In line with the projected general economic developments in its core markets Sixt expects for 2017 to see ongoing growth in demand for the Vehicle Rental Business Unit. This will continue to be driven above all by its foreign operations. The expansion activities and measures undertaken in Europe and the USA will continue and trigger corresponding extra expenses, as for example in Italy, which is being set-up as another Sixt corporate country. The assumptions for the Leasing Business Unit are likewise foreseeing a continuation of the positive business development and ongoing growth of the contract portfolio. Nonetheless, all divisions and units of the Sixt Group are focusing on qualitative and earnings-oriented growth.

Based on these assumptions the Managing Board expects for the current fiscal year to generate slightly higher consolidated operating revenue and stable to marginally higher Group EBT.

Contact:

Frank Elsner
Sixt Central Press Office
Tel.: +49 (0) 89 / 99 24 96 – 30
Fax: +49 (0) 89 / 99 24 96 – 32
E-Mail: pressrelations@sixt.com

Note:

The full consolidated financial statements 2016 of Sixt SE will be published on 24 April 2017.
The most important preliminary figures can be downloaded already today on our website at http://ir.sixt.eu.

The Sixt Group at a glance
(Preliminary data according to IFRS; rounding differences may occur)

¹ Value of vehicles added to the rental and leasing fleet

² Incl. franchise countries