Sixt SE greatly exceeds market expectations in the second quarter of 2021 despite the ongoing pandemic with an EBT of approx. 78 million euros and emissions forecasts for the current financial year

DGAP-News: Sixt SE / Keyword (s): Quarterly results / Forecasts
20.07.2021 / 16:45
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Sixt SE significantly exceeds market expectations in the second quarter of 2021 despite the ongoing pandemic with profit before tax (EBT) of approx. 78 million euros and emissions forecasts for the current financial year

Pullach, July 20, 2021 – Despite the ongoing COVID-19 pandemic, the business performance of the Sixt Group in the second quarter of 2021 was positive and exceeded market expectations. Based on preliminary figures, profit before tax (EBT) improved to approx. 78 million euros for the April to June quarter. Consolidated operating revenue in the second quarter of 2021 of approx. 498 million euros more than doubled year-on-year (225.8 million euros), but was 20% lower than consolidated operating income for the second quarter of 2019 (625.7 million euros). euros). SIXT thus exceeded analysts’ estimates for the second quarter, who expected on average EBT of 61 million euros and consolidated sales of 468 million euros..

This result can be explained in particular by the positive trend in activity and the increase in the price level in the United States and in Europe, the significant recovery in activity in Europe thanks to the reduction in restrictions linked to the pandemic. as well as the continued cost management of SIXT.

SIXT publishes forecasts for the whole of 2021 for the first time
So far, Sixt SE has not been able to issue a forecast for 2021 due to very high uncertainties regarding the future course of the COVID-19 pandemic. Based on the first quarter figures, the evaluation of the preliminary second quarter figures as well as up-to-date information on the current course of business, the board of directors of Sixt SE today published for the first time a forecast for 2021: For the 2021 financial year, the Management Board expects an EBT of between 190 million euros and 220 million euros (2020 (from continuing operations): -81.5 million euros) and consolidated operating income of between € 1.95 billion and € 2.10 billion (2020: € 1.52 billion). The average analyst estimate for the Sixt Group’s consolidated revenue for 2021 of 2.09 billion euros is within the range of forecasts. However, the EBT range forecast for 2021 is higher than market expectations of 187 million euros.

The forecast for fiscal year 2021 has been prepared on the basis of the current market environment and is based in particular on the assumption that the continuation of the COVID-19 pandemic will not again lead to greater travel restrictions, that the price in the United States and Europe will remain at current levels; and that vehicle supply shortages due to the semiconductor crisis will not worsen.

Alexander Sixt, co-CEO of Sixt SE: “The second quarter developed extremely positively, with EBT of around 78 million euros well above market expectations. Despite the lingering uncertainties, particularly for the fourth quarter, we currently expect the positive trend to continue. For the current financial year, we therefore forecast EBT in the range between 190 million euros and 220 million euros, which is also higher than market expectations, and consolidated operating income of between 1, 95 billion euros and 2.10 billion euros The forecasts for the financial year 2021 have been established on the basis of the current market environment and is based in particular on the assumption that the continuation of the COVID pandemic- 19 will not again result in greater travel restrictions, that the price level in the United States and Europe will remain at current levels and that the supply shortages for vehicles due to the semiconductor crisis will not get worse. This very positive development in business clearly demonstrates unbr a strong desire of people to be mobile again and to travel as soon as possible. Our performance in the second quarter also shows that the strategic decisions we made during the crisis, such as the acquisitions we made in the United States and the launch of our SIXT + car subscription, are now having an impact. But above all, our success is the result of the tireless efforts of our employees, for whom I would like to express my sincere thanks on behalf of the entire Management Board. “

Teacher. Dr. Kai Andrejewski, CFO of Sixt SE: “Thanks in particular to our solid financing structure, Sixt SE was able to successfully implement measures to counter the effects of the pandemic on its own. Despite remaining uncertainties, we can now issue a forecast for the full year 2021. This forecast assumes continued positive business development and its EBT is above average analyst estimates. “

Sixt SE will publish its interim group report on June 30, 2021 as scheduled on August 12, 2021.

About SIXT
Sixt SE, headquartered in Pullach near Munich, is one of the leading international providers of high-quality mobility services. With its SIXT rent, SIXT share, SIXT ride and SIXT + products, the company offers a uniquely integrated premium mobility service in the areas of vehicle and utility vehicle rental, car sharing, carpooling and travel subscriptions. car. Products can be booked through a single app, which also integrates the services of its renowned mobility partners. SIXT is present in around 110 countries around the world. The company is characterized by a consistent customer orientation and an excellent customer experience, a vibrant culture of innovation with strong technological expertise, the high proportion of premium vehicles in its fleet and an attractive quality-price ratio. The Sixt Group has doubled its turnover since 2009 and generated a turnover of 3.31 billion euros in 2019 and is ranked among the most profitable mobility companies in the world. In 2020, SIXT generated consolidated revenue of 1.53 billion euros despite travel and emissions restrictions due to the COVID-19 pandemic and reported positive consolidated net profit of 2 million euros. euros after cost savings of around 600 million euros among others. Sixt SE is the parent company of the Group and has been listed on the Frankfurt Stock Exchange since 1986 (ISIN ordinary share: DE0007231326, ISIN preferred share: DE0007231334). https://about.sixt.com

Press contact
Sixt SE
Catherine greven
Sixt central press office
Telephone: +49 – (0) 89 – 74444 6700
Email: [email protected]

20.07.2021 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
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