Ad-hoc 03 May 2024

Sixt SE: SIXT adjusts forecast for financial year 2024 – Business development in the second quarter of 2024

SIXT SE: SIXT adjusts forecast for financial year 2024 – Business development in the second quarter of 2024

Pullach, 3 May 2024

The Management Board of Sixt SE adjusted its previous forecast for financial year 2024 today on the basis of the figures for the first quarter of 2024, developments in April and expectations for the coming months of 2024. The Management Board continues to expect significant growth in consolidated revenue for financial year 2024 compared to the previous year (financial year 2023: EUR 3.62 billion), but now expects consolidated earnings before taxes (EBT) of between EUR 350 and 450 million (previously: between EUR 400 and 520 million). In the first quarter, consolidated revenue totalled EUR 780.2 million. EBT amounted to minus EUR 27.5 million and is therefore at the lower end of the previously forecasted range. For the second quarter of 2024, the Management Board expects a further significant increase in consolidated revenue and a return to profitability with EBT of between EUR 60 and 90 million (Q2 2023: consolidated revenue of EUR 925.1 million, EBT of EUR 131.9 million).

The main reasons for the earnings forecast respectively its revision are a further deterioration in the economic prospects, a repeated postponement of the interest rate reversal, a recent decline in market price level in some regions and, above all, lower residual values and consequently higher vehicle costs.

SIXT expects significant tailwind for the second half of the year and beyond. Besides various measures aimed at generating additional, profitable revenue and measures to further increase efficiency, this is due in particular to the improvement in fleet costs due to the continued reduction of electric vehicles and the increased addition of new vehicles to the fleet acquired at more favourable conditions compared to the years in which there were vehicle shortages.

Sixt SE will publish a press release in the course of today and announce the quarterly statement for the first quarter of 2024 that ended on 31 March as planned on 7 May 2024.

 

Contact:

Alexander Enge
Director Investor Relations
Sixt SE
Phone: +49 (0)89 74444-5104
e-mail: investorrelations@sixt.com

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