(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 records EBT of approximately EUR 86 million and healthy growth in 2008
Pullach, 25 February 2009 – The Sixt Group again recorded substantial growth in financial year 2008, increasing consolidated operating revenue from its rental and leasing business by 10% to EUR 1.53 billion (2007: EUR 1.38 billion). However, growth in the fourth quarter (+6% as against Q4 2007) was clearly down on the trend for the first nine months of 2008 (+12%) and also below expectations. Since the measures taken to adapt the rental fleet to the changes in market conditions require a certain time to take effect, the Group was impacted by disproportionately high fleet expenses in the fourth quarter. Furthermore, the intensification of the financial crisis in the last quarter led to another increase in financing costs. Therefore, Group profit before taxes (EBT) will total approximately EUR 86 million for full-year 2008 instead of the planned figure of roughly EUR 100 million.
For financial year 2009, the Managing Board currently expects demand for mobility services to be roughly stable in the core European countries. In view of the difficult market environment, Sixt is planning a smaller rental fleet, which is expected to lead to a corresponding decline in fleet costs from the second quarter onwards. Providing that no unforeseen negative events occur that have a material impact on the Group, Sixt expects EBT to again be clearly positive in 2009.
Sixt AG will announce the other key data for 2008 as planned on 19 March 2009.
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