In the first quarter of 2020, Sixt SE achieved consolidated operating revenue slightly below the previous year and consolidated earnings before taxes (EBT) of approx. EUR -5 million
Pullach, April 24, 2020 – After a gratifying business development of the mobility service provider Sixt SE in January and February 2020, the COVID-19 pandemic significantly impacted the course of business in March. According to an analysis of preliminary figures concluded today, consolidated earnings before taxes (EBT) for the first quarter of 2020 are expected to amount to approx. EUR -5 million (Q1 2019: EUR +40.1 million) and consolidated operating revenue is expected to amount to approx. EUR 484 million (Q1 2019: EUR 503.1 million). The above figures do not include the discontinued leasing business unit.
Sixt SE continues to expect a very strong impact on business development in the second quarter of 2020. The company expects a gradual normalisation of demand for its mobility products in the second half of the year. The Sixt Group continues to expect, not taking into account the positive effect of the sale of the stake in Sixt Leasing SE, a clearly positive consolidated EBT for the full year 2020 which will remain very strongly below the previous year’s level. With regard to consolidated operating revenue, the Managing Board of Sixt SE continues to expect a sharp decline compared to the previous year, not taking into account the discontinued leasing business unit.
Sixt SE will publish the Group quarterly report as of 31 March 2020 on 13 May 2020 as planned.
Note: “Consolidated operating revenue” is not a financial term according to IFRS. Information regarding the composition of the consolidated operating revenue can be found in the Annual Report 2019 of Sixt SE on page 101 (available at ir.sixt.com).
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