DGAP-News: Sixt SE: SIXT doubles earnings before taxes in first quarter of 2022 compared to 2019 – Mobility provider benefits from market share gains
Despite the chip crisis, the vehicle fleet grew by 35% in the first quarter compared to the same quarter of 2021 and was thus roughly at the level of the pre-corona quarter of 2019.
DGAP-News: Sixt SE / Key word(s): Quarter Results/Quarterly / Interim Statement Sixt SE: SIXT doubles earnings before taxes in first quarter of 2022 compared to 2019 – Mobility provider benefits from market share gains 12.05.2022 / 07:31 The issuer is solely responsible for the content of this announcement. SIXT doubles earnings before taxes in first quarter of 2022 compared to 2019 – Mobility provider benefits from market share gains
Pullach, 12 May 2022 – SIXT continued its growth course unabated in the first quarter of 2022. Due to the consistent progress of internationalisation, the company has gained market share since the outbreak of the crisis and is now benefiting from continued strong non-domestic business, in Europe and especially in the US. Compared to the first quarter of the previous year, consolidated revenue increased by 76.1% to EUR 580.8 million and was thus even around 15% higher than the corresponding quarterly revenue in the pre-corona year 2019.[1] With earnings before taxes (EBT) of EUR 93.5 million, the international mobility services provider achieved by far the best operating result in a first quarter: This was EUR 107.2 million higher than the loss of EUR 13.7 million in the same quarter of 2021 and double the figure of EUR 40.1 million in the pre-crisis quarter of 2019. SIXT thus once again exceeded the expectations of the capital market. Further growth drivers included the continuous digitalisation of the business, a higher price level and strict cost management. As a result, total costs only increased by 41.6% compared to the same quarter of 2021 last year, which is significantly less than the 76.1% increase in revenue compared to 2021. Despite the chip crisis, the vehicle fleet grew by 35% in the first quarter compared to the same quarter of 2021 and was thus roughly at the level of the pre-corona quarter of 2019. This positive development in procurement played a major role in enabling the company to realise the disproportionate increase in revenue in the first quarter. Continued strong non-domestic business and Canada as a new growth driver Following the successful establishment of its US presence, SIXT is now taking the next logical step and enters the Canadian market with a total market potential of approximately EUR 1.4 billion per year. SIXT offers a wide range of premium vehicles for both business customers and tourists in the Canadian market. Key consolidated figures for the first quarter of 2022 in comparison
Further expansion of the ONE platform by adding attractive mobility products Assuming this, and with reference to the uncertain geopolitical situation and the related challenging procurement situation, the Management Board confirms the forecast for financial year 2022: It continues to assume a significant increase in consolidated revenue compared to 2021. Group EBT is expected to be in a range of EUR 380 million to EUR 480 million.
The SIXT Group at a glance
1 Value of vehicles added to the rental fleet
12.05.2022 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: | MDAX |
Listed: | Regulated Market in Frankfurt, Munich; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Stuttgart, Tradegate Exchange |
EQS News ID: | 1350279 |
End of News | DGAP News Service |
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1350279 12.05.2022