DGAP-News: Sixt SE: EUR 442 million before taxes: SIXT closes 2021 with the highest earnings in company history
Sixt SE: EUR 442 million before taxes: SIXT closes 2021 with the highest earnings in company history
DGAP-News: Sixt SE / Key word(s): Preliminary Results Sixt SE: EUR 442 million before taxes: SIXT closes 2021 with the highest earnings in company history 02.03.2022 / 07:31 The issuer is solely responsible for the content of this announcement. EUR 442 million before taxes: SIXT closes 2021 with the highest earnings in company history
Pullach, 2 March 2022 - Based on the evaluation of its preliminary figures, SIXT achieved by far the best result in the company's history in financial year 2021 with consolidated earnings before taxes (EBT) of EUR 442.2 million.[1] This figure is 43.4% higher than the EBT in the pre-corona year 2019 (EUR 308.2 million). Compared to the previous year, EBT rose by EUR 523.7 million. The main driver of earnings was the strong growth in European countries (except Germany) and in the US due to continued internationalisation. With higher market prices, this led to an increase in consolidated revenue of 49.1% to EUR 2.28 billion. SIXT recorded gains in market share, which were in some cases significant, especially in European countries (except Germany), where sales increased by 63.5% compared to the previous year, and in the US (+121.3%). In addition, the mobility service provider was able to optimise its costs thanks to the continued digitalisation of its processes and efficient fleet and capacity management, reducing them by EUR 350 million or 16% compared to the level of 2019. The capital market rewarded the very positive development, which was achieved despite the restrictions imposed due to the COVID-19 pandemic that were particularly noticeable in the first half of the year. The stock market value of the company increased by 57% when comparing the year-end closing prices of 2021 and 2020. SIXT is also optimistic for the current financial year 2022, although the further development of corona and the availability of vehicles continue to present challenges. Alexander Sixt, Co-CEO of Sixt SE: "The results of the past year are outstanding, and all the more so because we had an exceptional market environment overall due to the COVID-19 restrictions. SIXT is growing because we have continued to drive our internationalisation strategy while keeping our costs under control. With a record result that is even 43% higher than the 2019 figure, we have impressively demonstrated that our business model is highly flexible and adaptable to a wide range of circumstances. This adaptability is also the cornerstone for sustainable, profitable growth in the future. Given this setting, we are well prepared for 2022 and currently expect an increase in revenue compared to 2021. My sincere thanks go to all our employees worldwide for this fantastic performance in 2021. Of course, we are following the war in Ukraine with concern, especially since SIXT has a small development site in Kiev. We are supporting our employees and their families financially and organisationally, among other things in leaving the country. Our sympathy goes out to all the people in Ukraine, combined with the hope that a peaceful solution to the conflict will be found as soon as possible." Key revenue and earnings drivers in 2021
Key performance indicators for Sixt Group in 2021
Resumption of dividend payment planned Prof. Dr. Kai Andrejewski, Chief Financial Officer (CFO) of Sixt SE: "Not only the international growth, but also our strict cost discipline as well as efficiency gains have had a positive impact on our development in the past financial year. Active management of the cost side, which clearly shows the variability of the business model, illustrates that we can adapt to changing market conditions quickly and at any time. Our excellent capital and financial resources in the form of an equity ratio of 39% and available financial resources of nearly EUR 2 billion give us sufficient room for manoeuvre for further innovation and growth steps. The extraordinary performance of our Group, coupled with our historical and expected future profitability, is increasingly being recognised by the capital market. For example, SIXT's stock market value increased by 57% to EUR 6.2 billion last year." Outlook for financial year 2022 In addition to the further course of the COVID-19 pandemic, the availability of vehicles remains generally tense due to the current global chip shortage and corresponding production restrictions for the market in general. While SIXT was already able to record an increase in vehicles in 2021, there are signs that the situation will ease in the second half of 2022. From 2023 on, the Managing Board even expects an oversupply of vehicles from current and new car manufacturers again. In this context, and with explicit reference to the uncertain overall geopolitical and economic situation, the Managing Board anticipates a significant increase in revenues compared to 2021 and EBT in the range of EUR 380 to 480 million.
About SIXT
1 Value of vehicles added to the rental fleet
02.03.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | Sixt SE |
Zugspitzstraße 1 | |
82049 Pullach | |
Germany | |
Phone: | +49 (0)89 74444-5104 |
Fax: | +49 (0)89 74444-85104 |
E-mail: | [email protected] |
Internet: | http://ir.sixt.eu |
ISIN: | DE0007231326, DE0007231334 Sixt Vorzüge, DE000A1K0656 Sixt Namensaktien, DE000A2BPDU2 Sixt-Anleihe 2016/2022, DE000A2G9HU0 Sixt-Anleihe 2018/2024, DE000A3H2UX0 Sixt-Anleihe 2020/2024 |
WKN: | 723132 |
Indices: | SDAX |
Listed: | Regulated Market in Frankfurt, Munich; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Stuttgart, Tradegate Exchange |
EQS News ID: | 1291791 |
End of News | DGAP News Service |
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1291791 02.03.2022