For the first half of 2014, German-based Sixt SE’s revenue and earnings were both up compared to the same period in 2013, according to the company.
Sixt’s rental revenue increased 9.8% — from EUR 462.2 million in half-year (H1) 2013 to EUR 507.7 million in H1 2014. This growth is due to rental revenue climbing 5.6% in Germany and increasing 16.4% in foreign markets (outside of Germany), says Sixt.
The Sixt Group reported an increase of 16.7% for its consolidated earnings before taxes — from EUR 57.9 million in the first half of 2013 to EUR 67.5 million in H1 2014. Consolidated operating revenue climbed 8.5% from EUR 700.7 million (H1 2013) to EUR 760.2 million (H1 2014), says Sixt.
In the first half of 2014, Sixt added a total of 93,300 vehicles (value of EUR 2.29 billion) to its rental and leasing fleet at home and abroad. In the same period last year, Sixt added 82,900 vehicles with a value of EUR 2.04 billion. This means the number of vehicles and the total value of vehicles have increased around 12%, according to Sixt.
“The first six months have shown that Sixt is in top shape,” said Erich Sixt, chairman of Sixt SE’s managing board. “Our growth is broadly based, with the ongoing expansion abroad remaining the driver for the encouraging growth in revenue. However, we also recorded a solid revenue growth in Germany. We will continue to utilize growth opportunities with resolve but sound judgment to gain further market shares.”
As of June 30, 2014, Sixt had 2,151 rental offices worldwide — 84 more than at the end of 2013. And Sixt’s U.S. franchises have now grown to 32 locations, says company.