International mobility services provider Sixt SE booked record revenue and earnings in 2017, the company reported during a press conference last week detailing its annual financial statements.
The Pullach, Germany-based company recorded pretax earnings of 287.3 million euros (U.S. $352.4 million in today’s dollars), some 31.6% higher than the 2016 calendar year. Sixt reported consolidated revenue of its rental and leasing units in 2017of approximately 2.6 billion euros (U.S. $3.2 billion), a 7.9% growth over 2016.
Sixt reported financial data for the U.S. for the first time since opening locations in the U.S. in 2011. Sixt recorded U.S. revenue of 322 million euros (U.S. $395 million) last year, making it the fourth-largest car rental company in the U.S., according to Auto Rental News statistics.
Sixt reported 52 locations in the U.S. at the end of 2017, with seven of those locations ranking among the top 20 Sixt locations worldwide.
"2017 was not just another record year for Sixt, but brought a major leap forward,” said Erich Sixt, CEO of Sixt SE in a statement. “With a pre-tax return on operating revenue of over 12%, we underlined our position as one of the world's most profitable mobility service providers.”
“ … the U.S. offers our company enormous growth potential for the coming years,” Sixt continued. “If we utilize it right, the U.S. will become the single biggest market for Sixt in a few years, even ahead of Germany.”
Sixt reported it reorganized in Italy, setting up 21 company-owned rental locations. Sixt also reported preparations are underway to consolidate its carsharing, vehicle rental, and other services into one mobility platform.
For 2018, Sixt expects a slight increase in pre-tax earnings, discounting the sale of DriveNow.