Sixt SE: Consolidated operating revenue of ca. EUR 498 million and consolidated EBT of ca. EUR 78 million in Q2 2021; SIXT announces forecast for financial year 2021
Pullach, 20 July 2021 – Despite the ongoing COVID-19 pandemic, the business performance of the Sixt Group has continued to develop positively over the remainder of the first half of 2021 and exceeds market expectations. Based on the final review of the preliminary figures that was completed today, the Sixt Group’s second quarter 2021 consolidated operating revenue is expected to be approximately EUR 498 million (Q2 2020: EUR 225.8 million) and consolidated earnings before taxes (EBT) are expected to be approximately EUR 78 million (Q2 2020: EUR -117.7 million from continuing operations). The average of the analysts’ estimates for the Sixt Group for the second quarter of 2021, which amount to EUR 468 million for consolidated revenue and EUR 61 million for EBT, are thus significantly exceeded for both figures.
This result is due in particular to the positive business development and the increased price level in the United States and Europe, the noticeable recovery of business in Europe as a result of the reduction of pandemic-related restrictions as well as SIXT’s continuing cost management.
So far, Sixt SE has not been able to issue a forecast for the year 2021 due to the very high uncertainties about the future course of the COVID-19 pandemic. Based on the figures for the first quarter, the evaluation of the preliminary figures for the second quarter and up to date information on the current course of business, today, the Managing Board of Sixt SE adopted the following forecast for the financial year 2021:
For the financial year 2021, the Managing Board of Sixt SE expects a consolidated operating revenue between EUR 1.95 billion and EUR 2.10 billion (2020: EUR 1.52 billion) and consolidated earnings before taxes (EBT) for the financial year 2021 in the range between EUR 190 million and EUR 220 million (2020 (from continuing operations): EUR -81.5 million). The average of the analysts’ estimates for the consolidated revenue of the Sixt Group for 2021 lies with EUR 2.09 billion within the range of the forecast. The forecasted EBT range is above the market expectation of EUR 187 million for EBT.
The forecast for the financial year 2021 was prepared on the basis of the current market environment and is based in particular on the assumptions that the further course of the COVID-19 pandemic will not again lead to more far-reaching restrictions on travel, that the price level in the United States and Europe will stay on current levels and that the supply shortages for vehicles as a result of the semiconductor crisis will not worsen.
Sixt SE will publish its Group Interim Report as at 30 June 2021 as planned on 12 August 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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