Sixt SE returns into profit zone in Q3 2020, proves the adaptability of its business model with a pre-tax profit of EUR 66.0 million and manages to navigate the crisis significantly better than its competitors
As expected, Government restrictions curtail revenue, which falls to EUR 462.6 million for the period July to September (-40.7%)
At outbreak of the COVID-19 pandemic the SIXT Managing Board implemented a rigorous cost reduction programme, as part of which the total cost basis for the first nine months was cut by around EUR 400 million. Savings of EUR 200 million made in material and personnel costs alone
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