HomeNewsSixt Reports Better-than-Expected Earnings of €78m for Q2

Sixt Reports Better-than-Expected Earnings of €78m for Q2

International car rental company SIXT has reported gross earnings of approximately €78 million for Q2 2021. This has been attributed to strong US business, increasing demand in Europe and continuing cost management.

Despite the ongoing COVID-19 pandemic, the Sixt Group’s business performance in the second quarter of 2021 was positive and exceeded market expectations.

Consolidated operating revenue in the second quarter of 2021 of approximately €498 million more than doubled year-on-year (€225.8 million), but was 20 per cent lower than consolidated operating revenue in the second quarter of 2019 (€625.7 million).

SIXT thus exceeded analysts’ estimates for the second quarter, which on average had assumed earnings before tax (EBT) of €61 million and consolidated revenue of €468 million.

Alexander Sixt, Co-CEO of Sixt SE: “The second quarter developed extremely positively, with EBT of around €78 million well above market expectations.

Despite continuing uncertainties, especially for the fourth quarter, we currently expect the positive trend to continue.”

For the current financial year, we therefore expect EBT in the range between €190 million and €220 million, which is also above market expectations, and consolidated operating revenue in the range between €1.95 billion  and €2.10 billion.”

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