German-based Sixt SE has reported 2014 as the most successful fiscal year in its corporate history. Revenues and earnings exceeded the expectations of the Sixt Group’s managing board, says the company.
Sixt’s rental revenue climbed 10.2% — from EUR 1.02 billion in 2013 to EUR 1.12 billion. This growth is due to domestic rental revenues increasing by 4.8% to EUR 630.5 million and the large amount of growth in its foreign subsidiaries, particularly in the U.S., France, Great Britain and Spain (44% of total rental revenues in 2014 was generated outside of Germany), says the company.
The Sixt Group reported its consolidated earnings before taxes (EBT) increased 14.1% to EUR 157.0 million, compared to EUR 137.6 million in 2013. As in previous years, the EBT includes start-up losses for growth initiatives, such as the franchise expansion in the U.S. Consolidated operating revenue grew by 9.3% to EUR 1.65 billion (from EUR 1.51 million) in 2013, says Sixt.
The worldwide number of Sixt rental locations (corporate and franchise) grew to 2,177 as of Dec. 31, 2014. This was 110 more locations compared to the end of 2013, says Sixt. In the U.S., Sixt had a total number of 50 stations at the end of 2014 — this increased from 26 stations at the end of 2013.
Sixt’s average rental fleet size climbed 8.4% to 84,600 vehicles in 2014, compared to 78,000 vehicles in 2013.
"The strong result in 2014 exceeded our expectations,” said Erich Sixt, chairman of Sixt SE’s managing board. “It is all the more encouraging if one considers the restrained economic environment in Europe. The basis for this success was once more the ongoing international expansion and our clear premium strategy. With a 9.5% pre-tax return on operating revenue, Sixt once again underlined its position as one of the world's most profitable mobility service providers. Our company's internal strength makes us generally optimistic for 2015."
For fiscal year 2015, Sixt expects a slight rise in consolidated operating revenues. Sixt’s growth initiatives, such as the expansion in the U.S. and Europe (outside of Germany), will continue in 2015.