Sixt Increases Revenue While Profits Dip
The company reported a 7.1% increase in revenue for its vehicle rental business unit for the third quarter, but consolidated profit before taxes dropped compared to the third quarter of last year. Sixt said it still expects a ‘solid’ profit at the end of the year.
Sixt AG reported on Nov. 19 its earnings for the third quarter, in which rental revenue was EUR 273.0 million compared to the same quarter of 2011 at EUR 255.0 million, which is a 7.1% increase. Including its leasing segment, Sixt’s total consolidated revenue for the third quarter increased 1.3%, to EUR 427.8 million.
In total, Sixt AG is reporting a third quarter consolidated profit before taxes (EBT) of EUR 40.6 million, which is down 8.2% compared to the third quarter last year.
In the first nine months of 2012, the Vehicle Rental Business Unit generated rental revenue of EUR 725.7 million, an increase of 7.6% compared to the nine-month period last year. International business continued to grow vigorously, the company said, with rental revenue gaining 20.1%. It also commented that its units launched in the U.S. have also already begun making “noteworthy” contributions to revenue.
Vehicle rental’s EBT for the first nine months was EUR 93.8 million, down 5.4% from the equivalent figure from last year of EUR 99.2 million. The company said that in light of operating expenses coupled with start-up costs to establish the U.S. business and its DriveNow car sharing program, the earnings result is satisfactory.
With a companywide EBT of EUR 104.0 million for earnings from January through September 2012, which is slightly below the prior-year’s record level, Sixt said that for 2012 as a whole, it still expects that consolidated revenue will grow, and that the company will show a solid profit.
“Even amid a difficult economic environment, Sixt continues to grow and has consolidated its standing as one of the world’s most profitable vehicle rental companies,” said Erich Sixt, chairman of the managing board of Sixt AG. “Business performance for the first nine months of 2012 demonstrates the internal strength our Group has achieved. We continue to be extremely pleased with our international business, which in some cases has been showing substantial double-digit growth rates. All in all, the results we can show after nine months are more than respectable.”
Fleet Size
In the first nine months of 2012, Sixt added a total of 118,500 vehicles, worth EUR 2.86 billion, to its rental and leasing fleet inside Germany and internationally, compared to 116,600 vehicles worth EUR 2.78 billion for the same period last year. This represents an increase of 1.6% in the total number of vehicles and 2.8% in vehicle value. In the third quarter, in view of less auspicious economic conditions in Europe, Sixt said it pursued a deliberately conservative policy in calling up contingents of vehicles.
More Rental Operations

Surprice Mobility Opens Corporate Rental Station at Milan Airport
The Milan opening is part of Surprice Mobility's broader strategy to expand its corporate operations while increasing the use of technology across its network.
Read More →
Brazilian Executive MBA Targets Growing Domestic Rental Car Industry
Rental car companies face a unique combination of challenges that are rarely addressed in traditional programs.
Read More →
Green Motion Expands Into Japan With Master Franchise Agreement
Japan's tourism industry, business travel market, and demand for vehicle rental services are reasons the country represents an important market for the company.
Read More →
ACRA Carrying Fuller Industry Load As AI and EVs Lurk In Future
The leading car rental professional business group details an active legislative, regulatory, and macro-trends agenda affecting car rental operators.
Read More →
World Cup Travel Data Shows Longer Car Rentals and More One-Ways
A recent analysis of FIFA bookings found varied demand patterns that influenced rental car pricing.
Read More →
A Leveling Force: AI Morphs Into A Rental Car Profit-Seeker
Revenue managers can’t match the emerging AI tools gobbling lots of data that could counter the competitive race to the rate bottom.
Read More →Stop Losing Money On Rental Tolls
Regardless of your rental fleet size and structure, fleet managers, executives, and owners can gain valuable insights into an often-overlooked area of fleet operations.
Read More →
Rethink The Future To Avert A Race To The Bottom
Rental car operators heard a sobering industry message and a stern challenge at the close of the International Car Rental Show.
Read More →
DriveItAway, Free2move Plan Shared Fleet Program for Independent Rental Fleet Operators
Vehicles would be placed with participating rental operations to support car renter demand and provide additional fleet capacity.
Read More →
Stellantis Recalls 1.3 Million Jeep Vehicles Worldwide Over Fire Risk
Stellantis is recalling more than 1.3 million Jeep Wrangler and Gladiator models worldwide over a fire risk linked to power steering pump wiring.
Read More →
