Sixt posts record first half-year revenue results

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Posting a 14.3% increase in operating revenue to €1.35bn, Sixt SE says it has recorded its strongest ever six months thanks largely to expansion in the US and a move to mobility solutions.

Prime growth drivers included the US market and new interest in Sixt's global mobility offerings

Prime growth drivers included the US market and new interest in Sixt’s global mobility offerings

The performance of the Mobility Business Unit (previously known as ‘Vehicle Rental Business Unit’) which bundles together the entire mobility services of the company Sixt rent, Sixt share and Sixt ride, grew even by 18.1% and here in particular the US business.

Erich Sixt, CEO of Sixt SE said, “We managed to further extend our position as Europe’s leading mobility service provider. In the USA we are not only growing fastest, but also profitably. With over 270,000 vehicles our fleet is bigger than ever before. I am particularly pleased to see our customers responding so well to our digital and innovative mobility services. Sixt is developing here above our expectations, so that we might just invest even more into these markets of the future during the second half of the year.”

The US accounted for significant growth, with a 30% increase, and where Sixt’s services are already present at 19 of the 25 most important US airports – including Sixt rental locations at Miami, Los Angeles and Orlando that rank among the company’s biggest stations globally. Furthermore, Sixt anticipates a revenue potential of $1bn (in a market of $31bn). If this came to fruition, the US market would replace Germany as the company’s most important.

Sixt also saw new revenue streams from its Sixt app – which integrates Sixt Rent, Sixt Share and Sixt Ride – as well as its new car subscription models on the market.

Understandably, Sixt wants to continue its growth and hopes to do so by investing record amounts in the fleet, international expansion and digital mobility concepts of the future. With a recorded EBT of €127.5m (a decrease of 2.6%), the earnings situation during the first half-year remained almost stable at a high level, the company said.

The operating revenue for the Mobility Business Unit registered a rise of 18.1% to €1.13bn (H1 2018: €954.5m). The main driver of growth was foreign operations, which saw revenue climb 26.3% to €675.5m (H1 2018: €534.8m).

However, leasing showed a slight decrease in revenue of 1.7% over the previous year with the Leasing Business Unit reporting operating revenue for the first half-year 2019 of €226.4m, although leasing contracts actually increased by around one thousand, to 126,200.

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Jonathan Musk

Jonathan turned to motoring journalism in 2013 having founded, edited and produced Autovolt - one of the UK's leading electric car publications. He has also written and produced books on both Ferrari and Hispano-Suiza, while working as an international graphic designer for the past 15 years. As the automotive industry moves towards electrification, Jonathan brings a near-unrivalled knowledge of EVs and hybrids to Fleet World Group.