(Wertpapierhandelsgesetz – German Securities Trading Act)
Sixt AG, Zugspitzstr. 1, 82049 Pullach, Germany
WKN: 723132 ISIN: DE0007231326
WKN: 723133 ISIN: DE0007231334
Frankfurt Stock Exchange, Prime Standard Segment
Sixt reports EBT of EUR 28 million in Q3 2009 – significant improvement as against H1
Pullach, 19 November 2009 – The Sixt Group continued to record a high level of stable demand in the third quarter of 2009 and significantly improved its earnings as against the first half of the year. The mobility services provider generated profit before taxes (EBT) of EUR 28.1 million in the period from July to September, after EUR 30.1 million in the prior-year period (-6.8%). Both of Sixt’s Business Units, Vehicle Rental and Leasing, profited from an improved cost structure, in particular due to the reduced rental fleet and strict cost management. Quarterly profit after taxes rose by 8.6% to EUR 23.0 million (Q3 2008: EUR 21.2 million).
Rental revenue (excluding other revenue from rental business) amounted to EUR 208.9 million in the third quarter, down 3.0% year-on-year, but up on the figures for the first and second quarters of 2009. Overall, the Vehicle Rental Business Unit’s quarterly revenue was EUR 261.1 million, 13.4% below the prior-year quarter.
The Leasing Business Unit recorded leasing revenue of EUR 103.5 million in the third quarter, a decline of 3.4% on Q3 2008. Consolidated revenue totalled EUR 426.8 million in the period from July to September, 11.3% less than in the previous year (EUR 481.3 million).
The Group reported positive EBT of EUR 2.6 million for the first nine months of 2009 (Q1-3 2008: EUR 95.9 million). Profit after taxes was also positive, at EUR 0.6 million (first nine months of 2008: EUR 66.1 million).
At EUR 573.8 million, rental revenue in the first three quarters was 2.8% below the prior-year period. Including other revenue from rental business, which declined sharply due to the reduction in the fleet size and the partial switch in fleet financing, the Vehicle Rental Business Unit’s nine-month revenue amounted to EUR 726.0 million (-12.8%).
At EUR 308.8 million, the Leasing Business Unit maintained its leasing revenue at the prior-year level (-1.5%). Total consolidated revenue in the first nine months was EUR 1.21 billion (Q1-3 2008: EUR 1.34 billion; -9.4%).
The Managing Board confirmes the Group’s goal of reporting clearly positive EBT for full-year 2009. This is based on demand, which is satisfactory despite the difficult economic environment, and on additional positive effects in operating costs. This forecast assumes that there are no unforeseen negative events with a major impact on the Group.
Sixt Central Press Office
T +49 – 89 – 992 496 – 30/ – 31
F +49 – 89 – 992 496 – 32