(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 further accelerates its clear revenue and earnings growth in Q3 2007
Pullach, 15 November 2007 – Sixt AG further accelerated its clear growth trend from the first six months in the third quarter of 2007. The international mobility provider reported consolidated profit before taxes (EBT) of EUR 110.9 million for the first nine months, an increase of 14.2% as against the previous year (EUR 97.2 million). In the same period, consolidated profit increased by 20.4% from EUR 59.5 million to EUR 71.6 million.
Consolidated operating revenue from rental and leasing activities – the best measure of the Group’s performance – reached EUR 1.02 billion in the first nine months, up 13.1% on the prior-year period (EUR 903.3 million). A key driver of the Group’s strong operating growth was its dynamic international business, in which operating revenue increased by 27.7% to EUR 216.6 million (Q1-3 2006: EUR 169.6 million). Total consolidated revenue (including revenue from used leasing vehicle sales, which is usually subject to fluctuations and has no material effect on earnings) rose by 7.4% in the first nine months from EUR 1.09 billion to EUR 1.17 billion.
The Vehicle Rental Business Unit continued to record growth that is well above the industry average and increased its revenue from rental business by 15.0% in the period from January to September 2007, from EUR 648.8 million to EUR 746.2 million. EBT rose by 18.1% to EUR 100.1 million (Q1-3 2006: EUR 84.8 million). The Leasing Business Unit reported an 8.4% increase in leasing revenue for the first nine months to EUR 275.8 million (Q1-3 2006: EUR 254.5 million). EBT reached EUR 8.8 million (Q1-3 2006: EUR 10.9 million). The leasing business picked up in the third quarter and recorded double-digit growth rates in leasing revenue and EBT compared with the prior-year quarter.
In the third quarter, consolidated operating revenue increased by 18.9% from EUR 313.6 million in the previous year to EUR 373.0 million. EBT was up by 15.6% to EUR 40.3 million (Q3 2006: EUR 34.9 million).
The Managing Board has provided additional details of its targets for full-year 2007. It is aiming for around 10% growth in consolidated operating revenue and an increase in consolidated earnings of 10% to 15%. This is based on the continued assumption that there will be no unforeseen negative events with a material impact on the Group.
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