Sixt Reports Record First-Half Revenue

Sixt reported its highest first-half income within the firm’s historical past, the Germany-based automotive rental provider introduced Wednesday. 

Second-quarter consolidated income of €743.8 million elevated 48.4 p.c 12 months over 12 months from €501.2 million. Half-year income was €1.32 billion, up 59.4 p.c from €831 million a 12 months prior. The half-year whole represented a 16.9 p.c improve over the identical interval in 2019, based on the corporate.

First-half progress was pushed by the corporate’s non-domestic markets. Although Germany’s first-half income was up 32.5 p.c 12 months over 12 months to €387.7 million, worldwide markets accounted for 70 p.c of whole income. Income from Europe exterior of Germany elevated 81.8 p.c to €536.4 million. U.S. income was up 66.1 p.c to €394.7 million. 

As well as, Sixt reported Q2 consolidated earnings earlier than taxes of €129.8 million, representing a rise of 66.6 p.c 12 months over 12 months and contributing to a first-half document of €223.2 million, up from €64.2 million one 12 months prior. 

Sixt anticipates its worldwide progress will proceed. The corporate opened its first Canadian location in July in Vancouver and plans to increase into 5 of the nation’s 10 largest airports. It additionally now could be in 36 of the “50 most necessary airports” in the US, based on the corporate. 

“The growth of our worldwide footprint … and the constant digitization of our services and products are central pillars of our success,” Sixt co-CEO Konstantin Sixt mentioned in an announcement. “With the current entry in Canada, the event of Australia through a robust franchise associate with 160 stations and the successive growth of our U.S. station community, we’re stringently persevering with this course.”

Regardless of continued car manufacturing challenges, Sixt within the first half expanded its fleet to 129,400, a rise of 24 p.c from the identical interval in 2021. 

For full-year 2022, Sixt anticipates a rise in consolidated income from 2021, and expects consolidated EBT to be within the higher vary of €380 million to €480 million. Nonetheless, the corporate famous “appreciable uncertainties” for the remainder of 2022 with “impending macroeconomic difficulties in Europe and the U.S.,” in addition to continued restricted car availability as a problem.

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