Sixt AG, Zugspitzstr. 1, 82049 Pullach
WKN: 723132, ISIN: DE0007231326
WKN: 723133, ISIN: DE0007231334
Frankfurt Stock Exchange, Prime Standard Segment
Sixt Group’s EBT reaches EUR 72.8 million for Q1-Q3 2010
Pullach, 22 November 2010 – For the period January through September 2010 the Sixt Group generated consolidated earnings before taxes (EBT) of EUR 72.8 million, after EUR 2.6 million for the same period the year before. The consolidated profit after taxes for the first nine months grew to EUR 54.9 million (previous year: EUR 0.6 million).
Revenue performance in the first nine months of the year met the Group’s expectations. Consolidated revenue, at EUR 1.17 billion, was 3.6% below the corresponding figure from last year (Q1-Q3 2009: EUR 1.21 billion). Rental revenue in the Vehicle Rental Business Unit (not including other revenue from rental business) grew 5.1% to EUR 603.1 million (Q1-Q3 2009: EUR 573.8 million). Total revenue for the Vehicle Rental Business Unit came to EUR 691.2 million for the first nine months (Q1-Q3 2009: EUR 726.0 million; –4.8%).
Revenue from Leasing activities from January through September grew 0.6% to EUR 310.6 million (Q1-Q3 2009: EUR 308.8 million). Including the proceeds from the sale of used vehicles, total revenue in the Leasing Business Unit came to EUR 471.1 million for the first nine months (Q1-Q3 2009: EUR 479.8 million; –1.8%).
The Sixt Group reported an EBT of EUR 38.0 million for the seasonally stronger third quarter of 2010, a gain of 35.2% from the same quarter last year (EUR 28.1 million). As expected, consolidated revenue was 4.8% below the comparable figure from 2009, at EUR 406.5 million (2009: EUR 426.8 million).
For full-year 2010, the Managing Board still expects a substantial increase in Group EBT as against last year. Consolidated revenue for full-year 2010 is still expected to be slightly below the prior year’s figure.
Looking to future business performance, the Managing Board remains fundamentally optimistic, even though the risks of setbacks for the economic recovery in Europe still persist, and in some cases have even increased. The goal remains to return again to the levels of profitability from before the financial crisis and the recession.
This forecast assumes that there are no unforeseen negative events with a major impact on the Group.
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