Ad-hoc disclosure in accordance with section 15 WpHG
Sixt AG, Zugspitzstrasse 1, D-82049 Pullach
WKN: 723132, ISIN: DE0007231326
WKN: 723133, ISIN: DE0007231334
Frankfurt Stock Exchange, Prime Standard Segment
Sixt Shows Strong Earnings Growth for First Three Quarters of 2011
Pullach, 22 November 2011 – Sixt’s very satisfactory business performance from the first half of 2011 continued in the third quarter. The company is reporting consolidated earnings before taxes (EBT) of EUR 115.7 million for the first nine months of the year, 59.0% higher than the figure for the same period last year (EUR 72.8 million). EBT for the third quarter was EUR 44.2 million, a 16.4% increase (Q3 2010: EUR 38.0 million). The consolidated after-tax profit for the first nine months grew 46.5%, to EUR 80.4 million (Q1-3 2010: EUR 54.9 million).
Sixt benefited in the first three quarters from higher demand in vehicle rental, good progress in its expansion outside Germany, and an ongoing more supportive environment for the leasing sector. Rental revenue (excluding other revenue from rental business) increased 11.8% for this year’s period from January through September, to EUR 674.3 million (Q1-3 2010: EUR 603.1 million). The uptrend in the Leasing Business Unit continued during the year. The unit is reporting leasing revenue of EUR 296.1 million for the first nine months, only 4.7% below the prior-year equivalent (EUR 310.6 million). Revenue from the leasing business returned to prior-year levels by the third quarter.
All in all, the Sixt Group is reporting a 1.0% increase in consolidated revenue for the first nine months of 2011,
to EUR 1.18 billion (Q1-3 2010: EUR 1.17 billion). Consolidated revenue for the third quarter increased 3.9%,
to EUR 422.3 million (Q3 2010: EUR 406.5 million).
The Managing Board continues to assume that rental revenue for the year 2011 as a whole will grow, and that leasing revenue will remain roughly stable. Consolidated EBT is expected to be considerably higher than last year’s figure.
Sixt is readying itself for a more difficult year 2012 given the general expectation of a global economic downturn. Against this background the strong earnings level of 2011 will be hard to achieve from today’s perspective.
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