Sixt SE: Sixt achieves above average result in the second quarter of 2018
Sixt achieves above average result in the second quarter of 2018
Pullach, 24 July 2018 – Business performance of the mobility service provider Sixt SE in the second quarter of 2018 was significantly better as compared to the corresponding period of the previous year. According to an analysis of preliminary figures concluded today, consolidated earnings before taxes (EBT) for the second quarter of 2018 are expected to amount to around EUR 82 million (Q2 2017: EUR 65.8 million) and consolidated operating revenue for the second quarter of 2018 is expected to be around EUR 641 million (Q2 2017: EUR 573.6 million). Thus, the consolidated EBT for the first half year 2018 is expected to amount to around EUR 326 million (H1 2017: EUR 102.6 million) and consolidated operating revenue for the first half year 2018 is expected to be around EUR 1,184 million (H1 2017: EUR 1,066.8 million). Consolidated EBT for the first half year 2018 includes a profit contribution of around EUR 196 million from the sale of Sixt SE’s stake in the joint venture DriveNow to the BMW Group, which was closed in the first quarter 2018 already. Adjusted for this non-recurring effect in the first quarter 2018, consolidated EBT for the first half year of 2018 is expected to amount to around EUR 130 million and is thus also significantly higher than the result for the same period last year. This substantial increase of the consolidated EBT adjusted for the non-recurring effect is to a large extent based on an increased profit of the Vehicle Rental Business Unit in Germany and abroad.
For the full fiscal year 2018 the Managing Board continues to expect a significant increase of consolidated operating revenue (2017: EUR 2,309.3 million) and a significant growth of consolidated EBT (2017: EUR 287.3 million).
Sixt SE will disclose its Group Interim Report as at 30 June 2018 as scheduled on 16 August 2018.
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 2017 of Sixt SE on page 97 (available at ir.sixt.com).
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