Sixt has reported record figures for revenue, earnings, and profitability in fiscal year 2018, based on preliminary calculations.
In what the company says is its most successful fiscal year ever, consolidated revenue rose 12.6% to 2.93 billion euros ($3.3 billion). Earnings before taxes (EBT) came to 534.6 million euros ($607.23 million), some 86.1% higher than the previous year's figure of 287.3 million euros ($326.33 million).
Adjusted by the income from the sale of the stake in the carsharing company DriveNow, EBT comes to 336.7 million ($382.44 million). This is equivalent to an increase of 17.2%.
This means that in relation to revenue development, the purely operating business once again generated above-average growth in earnings. The operating return on revenue came to 13%.
Positive Outlook for Fiscal Year 2019
For 2019 the managing board expects to see ongoing growth in demand, which continues to be driven primarily by foreign business in the vehicle rental business unit.
To this end, Sixt will continue to pursue a demand-driven fleet policy. The further expansion in the European countries outside Germany and in the U.S., the continuous digital interlinking of the fleet and the gradual implementation of the service range in the Sixt app will require further investments in the medium term.
At the same time, Sixt expects additional growth impulses as a result. Against this background and assuming that the overall economic environment does not deteriorate significantly, the managing board expects consolidated operating revenues to rise significantly and consolidated EBT to be stable in 2019 compared with the previous year (excluding the sale of the DriveNow stake in the previous year).