Sixt Rental Revenue Up 20.8%

Photo via Sixt.
Photo via Sixt.

During the first half of 2015, the Sixt Group recorded strong growth. Revenues and earnings exceeded expectations of the Sixt Group’s managing board, says the company.

Sixt rental revenue increased by 20.8% — from EUR 507.7 million in first half 2014 to EUR 613.4 million. This growth is primarily due to growth in foreign business operations in Western Europe and the U.S., which saw revenue up 36.3%, according to Sixt. In Germany, Sixt’s revenues climbed 9.9%.

The Sixt Group’s consolidated operating revenue increased 16.7% to EUR 886.9 million — compared to EUR 760.2 million earned during the same time last year. Consolidated earnings before taxes (EBT) climbed 10.8% to EUR 74.8, despite higher spending for expanding measures abroad.

"Sixt was exceptionally successful during the first half of the year,” said Erich Sixt, chairman of Sixt SE’s managing board. “We are growing rapidly with our vehicle rental business outside Germany and are continuously gaining market shares. Even at home, where we are already the clear market leader, we managed to raise rental revenues by almost 10%. This shows the strength of our company. … ”

In the first six months of 2015, Sixt continued to expand in the United States. As of June 30, the number of locations has increased to 61 — from 50 at the end of 2014. An additional 20 locations are planned for the end of the 2015 fiscal year, according to Sixt.

Sixt’s average rental fleet size climbed 15.2% to 91,200 vehicles, compared to 79,200 vehicles for the first six months of 2014.

For fiscal year 2015, Sixt’s managing board has upgraded its revenues and earnings expectations for full-year 2015 and expects consolidated operating revenue to climb significantly over last year’s total. Previously, the board predicted “slight growth.” Growth will be driven by the expansion in European countries outside of Germany and the U.S., according to Sixt.

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