Ad-hoc disclosure in accordance with section 15 WpHG
Sixt AG, Zugspitzstr. 1, 82049 Pullach
WKN: 723132, ISIN: DE0007231326
WKN: 723133, ISIN: DE0007231334
Frankfurt Stock Exchange, Prime Standard Segment
Sixt: Further Growth, Earnings at High Level in Q1 2012
Pullach, 22 May 2012 – In the first quarter of 2012, the Sixt Group continued its growth course from the previous year, and reported business performance within its expectations. Consolidated revenue increased 4.5% to EUR 380.8 million (Q1 2011: EUR 364.4 million). Results of operations at the international provider of mobility services remained at a high level. Despite higher operating costs, which were expected, and the start-up costs for new operations, consolidated earnings before taxes (EBT), at EUR 26.0 million, was only 6.2% below the figure for the same quarter last year, EUR 27.8 million, after adjustment for non-recurring income of EUR 4.4 million (reported prior-year figure: EUR 32.2 million). Compared to EBT from the last quarter of 2011 (EUR 23.3 million), however, the Q1 earnings before taxes increased 11.9%. Sixt is reporting a consolidated profit after taxes for the first three months of 2012 of EUR 17.9 million (Q1 2011: EUR 22.4 million).
As demand continued strong in the Vehicle Rental Business Unit, rental revenue (excluding other revenue from rental business) increased 10.3% to reach EUR 215.7 million (Q1 2011: EUR 195.6 million). Growth was driven by business both in Germany (+5.7%) and internationally (+22.1%). Overall, the Vehicle Rental Business Unit’s quarterly revenue was EUR 237.5 million (Q1 2011: EUR 217.1 million; +9.4%).
In the Leasing Segment, leasing revenue for the quarter, at EUR 93.3 million, was down 3.4% from the prior-year equivalent of EUR 96.5 million. Total revenue at the Leasing Business Unit for January through March came to
EUR 141.2 million (Q1 2011: EUR 145.4 million; –3.0%).
Management has reconfirmed its previous projections for 2012 as a whole. Given the slackening economy in Europe, it assumes this year will be more difficult than last. Sixt expects that rental revenue will continue to rise, and also considers an increase in leasing revenue possible. Results of operations are again expected to be good. However, macroeconomic risks and higher operating costs may well make it difficult to repeat the very high level of earnings from 2011.
Sixt Central Press Office
T +49 – 89 – 992 496 – 30/ – 31
F +49 – 89 – 992 496 – 32