Sixt SE: Consolidated operating revenue of ca. EUR 328 million and consolidated EBT of ca. EUR -14 million in Q1 of 2021; operating revenue in March already at last year’s level with positive EBT
Pullach, 26 April 2021 – Based on the final review of the preliminary figures that was completed today, consolidated operating revenue of the Sixt Group in the first quarter of 2021 is expected to be approximately EUR 328 million (Q1 2020: EUR 485.5 million) and consolidated earnings before taxes (EBT) are expected to be approximately EUR -14 million (Q1 2020: EUR -5.1 million from continuing operations).
Whereas the pandemic-related restrictions on travel did not affect the Sixt Group’s business until March 2020 in the same quarter of the previous year, the Group’s business was heavily impacted by continued and in some cases even intensified mobility restrictions throughout the entire first quarter of 2021, particularly in Europe. However, the Sixt Group already recorded a positive development of its business towards the end of the first quarter, particularly in the United States, but also in other European countries. This development and the continued strict cost management led to positive consolidated earnings before taxes for the month of March with consolidated operating revenue at the previous year’s level.
Despite these initial positive signals, there is still a great deal of uncertainty surrounding the future course of the COVID-19 pandemic. Therefore, it is still impossible to reliably estimate the extent and duration of the pandemic-related restrictions, in particular the travel restrictions. For this reason, the Managing Board is still unable to issue a forecast on the business development of the Sixt Group for 2021.
Sixt SE will publish its Group Quarterly Statement as at 31 March 2021 as planned on 12 May 2021.
Note: The aforementioned figures for the previous year in each case exclude the discontinued leasing operations, which were sold last year. “Consolidated operating revenue” is not a key performance indicator under IFRS. Information on the composition of consolidated operating revenue is available in the 2020 Annual Report of Sixt SE on p. 23 (available at ir.sixt.eu).
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