- Pressemitteilung BoxID 682155
In the first nine months of 2017, the Sixt Group has already surpassed its total 2016 earnings
• Above-average Q3 thanks to strong growth in domestic and international rental business
• Earnings before taxes (EBT) rise by 30.3% to EUR 224.2 million after nine months – EBT in the third quarter exceeds EUR 100 million mark for the first time
• Operating return on revenue for the Group up to 12.9%
• Consolidated operating revenue 8.2% higher at EUR 1.74 billion
• Unchanged positive outlook for full fiscal year 2017
The Sixt Group recorded an above-average strong Q3 2017, following a first half year that already exceeded corporate expectations. For the first nine months the international mobility service provider recorded earnings before taxes (EBT) of EUR 224.2 million, an increase of 30.3% over the same period of the previous year. Thus, the figure of EUR 218.3 million for the full year 2016 has already been exceeded. In the third quarter alone, which is characterised by holiday travel, EBT reached EUR 121.6 million which means that Sixt for the first time in one quarter earned more than EUR 100 million. The jump in earnings is attributable to the persistently strong demand in the Vehicle Rental Business Unit, both abroad and in Germany, where Sixt is by far the market leader. Erich Sixt, CEO of Sixt SE: “The third quarter was the strongest in our company’s history. Especially during summer vacation months, Sixt benefits from the investments we made over the last years in key tourism countries as the US, France and Spain. It’s also very pleasing that we continue to grow in Germany, despite the high level we have already achieved. The Vehicle Rental Business Unit’s 14% operating return on revenue in the first nine months of this year is unparalleled in our industry, and demonstrates that growth and profitability go hand-in-hand.”
Key Group figures for the first nine months of 2017
• Sixt Group’s consolidated revenue for the period from January to September 2017 increased by 7.3% from EUR 1.83 billion to EUR 1.96 billion.
• Consolidated operating revenue (excluding revenue from the sale of returned leasing vehicles) rose by 8.2 % to EUR 1.74 billion, compared with EUR 1.61 billion generated in the same period the year before.
• Operating revenue for the Vehicle Rental Business Unit increased by 8.9% to EUR 1.41 billion (9M 2016: EUR 1.30 billion). Foreign business operations grew by 14.1% to EUR 774.8 million, among other things driven by the strong private customer and tourism business in popular holiday destinations in Europe and the US. In Germany, Sixt also recorded growing operating rental revenue of 3.2% to EUR 636.0 million.
• Operating leasing revenue (without the proceeds from sales) rose by 5.2% from January to September to EUR 327.5 million (9M 2016: EUR 311.3 million). Sixt Leasing SE continues to see the gratifying growth in its contract portfolio. At the end of September 2017, 130,300 contracts were registered in Germany and abroad, 14.7% more than at the end of 2016. This development continues to be driven by the strong demand in private and commercial customers leasing (Online Retail business field) with an increase in the number of contracts of around 59%.
• Group EBT increased by 30.3% to EUR 224.2 million after EUR 172.0 million in the same period of the previous year. This jump in earnings, which led to a significant increase in the Group’s operating return on revenue to 12.9% (9M 2016: 10.7%), is attributable to the strong growth in the Vehicle Rental Business Unit, both in Germany and abroad. Other contributing factors were the very high utilisation of the rental fleet, especially in the third quarter, low refinancing costs and a tight cost management.
• For the first nine months Sixt reports consolidated profit before minority interests of EUR 159.9 million, an increase of 30.4% (9M 2016: EUR 122.6 million). Key Group figures for Q3 2017
• In Q3 2017 total consolidated revenue increased by 9.9% to EUR 745.2 million (Q3 2016: EUR 677.9 million).
• Consolidated operating revenue rose 11.4% to EUR 671.5 million (Q3 2016: EUR 602.9 million).
• EBT grew by a third (+34.9%) to EUR 121.6 million, compared with EUR 90.1 million in Q3 2016.
In line with the strong demand, Sixt added around 181,100 vehicles to the rental and leasing fleet in the first nine months of 2017 (9M 2016: 162,300 vehicles) with a total value of EUR 4.86 billion (9M 2016: EUR 4.32 billion). This corresponds to an increase of around 11.6% in the number of vehicles and around 12.4% in the investment volume.
Outlook for the full year 2017
The Management Board confirms its previous expectations for the full year 2017. As a result of the very good business performance in the first nine months, the Board continues to expect a significant increase in Group EBT for the fiscal year 2017 (2016: EUR 218.3 million). Consolidated operating revenue is expected to show solid growth (2016: EUR 2.12 billion).
Sixt SE today publishes its Interim Report as of 30 September 2017 at its website http://ir.sixt.com.
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