Sixt achieves substantial profit growth in the third quarter and upgrades outlook for full year 2018
Pullach, 18 October 2018 – Business performance of the mobility service provider Sixt SE in the third quarter of 2018 was substantially stronger than in the corresponding period of the previous year. According to an analysis of preliminary figures concluded today, consolidated earnings before taxes (EBT) for the third quarter of 2018 are expected to amount to around EUR 155 million (2017: EUR 121.6 million) and consolidated operating revenue for the third quarter of 2018 is expected to be around EUR 790 million (2017: EUR 671.5 million). Thus, consolidated EBT for the first three quarters of fiscal year 2018 is expected to amount to around EUR 482 million (2017: EUR 224.2 million) and consolidated operating revenue for the first three quarters of fiscal year 2018 is expected to be around EUR 1,975 million (2017: EUR 1,738.3 million). Adjusted for the non-recurring effect resulting from the sale of the stake in DriveNow consolidated EBT for the first nine months of fiscal year 2018 is expected to amount to around EUR 285 million and thus is also substantially higher than the result for the same period last year. This substantial increase of 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.
As a consequence of the business development during the third quarter and business performance recorded so far in the fourth quarter the Managing Board now expects a very strong growth of consolidated EBT in fiscal year 2018 (2017: EUR 287.3 million). This forecast does not include the profit contribution of around EUR 196 million from the sale of the shares in DriveNow. With regard to consolidated operating revenue for the full year (2017: EUR 2,309.3 million) the Managing Board now expects a strong growth. The Board’s previous projections had assumed a significantly higher consolidated EBT and a significantly higher consolidated operating revenue.
Sixt SE will disclose its Group Quarterly Statement as at 30 September 2018 as scheduled on 15 November 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).
Tel.: +49 (0)89 74444-5104
Email: [email protected]