(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 Group records 33.9% earnings increase in 2006
Pullach, 15 March 2007 – The Sixt Group generated record operating revenue and earnings for financial year 2006. According to preliminary figures, consolidated earnings before taxes (EBT) increased by 33.9% to EUR 121.6 million (previous year: EUR 90.9 million). This again outperforms the forecasts of an increase in operating profit of at least 25%, which had been lifted on several occasions during the course of the year.
The mobility services provider reported consolidated earnings after taxes of EUR 73.8 million, up 31.7% on the prior-year period (EUR 56.0 million).
The extremely positive earnings development was due to the further significant growth of the operating business, progress made in international expansion and costs that rose at a lower pace than sales. Consolidated operating revenue from the rental and leasing business (excluding revenue from the sale of used leasing vehicles), which best reflects Sixt’s business development, rose by 12.6% to EUR 1.21 billion in 2006 (previous year: EUR 1.08 billion). This puts it within the announced target range (10-15% increase). Total consolidated revenue (including revenue from the sale of used leasing vehicles) reached EUR 1.44 billion, compared with EUR 1.34 billion in the prior-year period (+8.0%).
The Managing Board is optimistic for business development in 2007. However, it continues to expect general cost increases, particularly for fleet costs; it aims to offset these with higher market prices and further improvements in efficiency.
Sixt expects that its consolidated operating revenue and consolidated operating profit will continue to increase in 2007. This is based on the assumptions that the market will accept price increases, that the macroeconomic environment develops as forecasted, that the used vehicle market does not deteriorate and that no unforeseen negative events occur that could significantly impact Sixt’s business.
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