International car rental company SIXT has reported that their business development in the second quarter of 2021 has reached the same level as their record year of 2019.
However, in a statement issued today (18 August) the company warned that “pandemic-related uncertainty” continues to be a factor despite the fourth-quarter expansion of their market position throughout the U.S. and Europe.
SIXT has reported earnings before taxes (EBT) of €77.9 million in the second quarter already above the respective figure for 2019 combined with an above-average return of 15.6 per cent.
It also reports that investment in its fleet has nearly doubled in the second quarter of 2021 compared to the first three months of the year and that its €2.1 billion investment is only 12 per cent below the equivalent period in 2019.
It says that with available financial resources of around €1.5 billion it is “well-equipped” for further fleet expansion, in part due to the fall in costs of nearly 25 per cent (€140 million) in the second quarter compared to the same period in 2019 – but critically with “only” 20 per cent less quarterly revenue.
Co-CEO Alexander Sixt: “SIXT has used the crisis as an opportunity and expanded its market position both in Europe and especially in the United States.
Despite the extremely positive result in the second quarter, the fourth quarter of this year remains fraught with uncertainty.”