Sixt SE: Sixt achieves above-average results in the first quarter and raises profit expectations for 2018
Sixt achieves above-average results in the first quarter and raises profit expectations for 2018
Pullach, 25 April 2018 – The business performance of the mobility service provider Sixt SE in the first quarter of 2018 was significantly better as compared to last year’s corresponding quarter. According to an analysis of preliminary figures for the first quarter of 2018 that was completed today, consolidated earnings before taxes (EBT) for the first quarter of 2018 are expected to amount to around EUR 244 million (Q1 2017: EUR 36.8 million) and consolidated operating revenue for the first quarter 2018 is expected to be slightly above EUR 540 million (Q1 2017: EUR 493.2 million). Consolidated EBT for the first quarter 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. Adjusted for this non-recurring effect, consolidated EBT for the first quarter of 2018 is expected to amount to around EUR 48 million and is thus also significantly higher than the result for the same period last year. This substantial increase is to a large extent based on an increased profit of the Vehicle Rental Business Unit in Germany and abroad.
Due to the business performance in the first quarter and the business performance in the second quarter hitherto, the Managing Board now expects a significant growth of consolidated EBT for the full fiscal year 2018 (2017: EUR 287.3 million). The Board’s previous projections had assumed a slightly increased consolidated EBT. Furthermore, the Managing Board expects a significant increase for the consolidated operating revenue for the full fiscal year 2018 (2017: EUR 2,309.3 million).
Sixt SE will disclose its Group Quarterly Statement as at 31 March 2018 as scheduled on 29 May 2018.
Note: “consolidated operating revenue” is not a financial term according to IFRS. Information regarding the composition of the consolidated operating revenue are included in the Annual Report 2016 of Sixt SE on page 87 (available at ir.sixt.eu) and from 27 April 2018 also in the Annual Report 2017 on page 97.
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