European sales drive record revenue for Sixt

Automotive rental agency Sixt loved record-breaking income and revenue within the first half of 2022, thanks primarily to an 82 per cent rise in gross sales in Europe.

The mobility firm noticed income shoot up by 59.4 per cent year-on-year to €1.32 billion throughout the first six months of the 12 months, the best degree in Sixt’s historical past. Web revenue additionally elevated from €52.7 million in 2021 to €160.3 million, an increase of greater than 200 per cent year-on-year.

European markets, outdoors Sixt’s house nation of Germany, had been the “foremost driver” of income for the corporate, with gross sales growing to €536.4 million within the January-June interval. There was progress in all nations, with gross sales tripling in Italy and Germany additionally seeing a 32.5 per cent year-on-year rise to €387.7 million.

Sixt emphasised that it had been capable of meet this excessive demand throughout all markets, regardless of the present world scarcity of latest rental automobiles, by investing in its personal fleet “at an early stage and with foresight”. 

The corporate added that its common fleet measurement throughout the first half of the 12 months was 129,400 automobiles, which was a rise of 24 per cent on the identical interval in 2021.

Co-CEO Alexander Sixt mentioned: “Regardless of unprecedented geopolitical and macroeconomic challenges, Sixt achieved document income and earnings within the first six months. 

“Our internationalisation technique continues to repay and the enterprise efficiency is powerful proof of the robustness of our firm. The forward-looking investments within the fleet have contributed considerably to this optimistic improvement.”

Sixt mentioned it anticipated excessive demand to proceed all through the summer time, though it admitted that there have been “appreciable uncertainties” over the ultimate few months of the 12 months, together with “many impending macroeconomic difficulties” in Europe and the US.

The corporate is forecasting a pre-tax revenue for 2022 on the “higher finish” of its earlier steerage of €380 million-€480 million.