For the first quarter 2014, German-based Sixt SE’s revenue and earnings were both up compared to last year’s figures, says the company.
Sixt’s rental revenue climbed 9.5% — from EUR 210.1 million in Q1 2013 to EUR 230.1 million. This growth is due to domestic demand increasing by 6.7% and the expansion in Europe (outside Germany) and in the U.S., says Sixt.
The Sixt Group reported its consolidated earnings before taxes (EBT) increased 19.5% to EUR 26.6 million, compared to EUR 22.3 million for Q1 2013. Consolidated operating revenue grew by 7.7% to EUR 352.6 million (from EUR 327.4 million during Q1 2013), according to Sixt.
Sixt added a total of 41,700 vehicles to its rental and leasing fleets (value of EUR 1.00 billion) in the first three months of 2014, compared to 36,500 vehicles over the same period last year (value of EUR 0.88 billion). This equals an increase of 14% in the number of vehicles and vehicle value, says Sixt.
“We are very satisfied with the business performance of the first quarter,” said Erich Sixt, chairman of the Sixt SE’s managing board. “Sixt is continuing its growth track and benefits from the rebounding market demand for mobility services. Our expansion in the USA and in European foreign countries is gaining momentum, so that we are optimistic for the further course of the year.”
In the first quarter 2014, Sixt expanded in the U.S. and now has 30 locations, 20 company-owned and 10 franchisees. In addition, Massachusetts-based VERC Car Rental became a new franchisee.