CAR RENTALS $SIX2 (+0.85%)

Sixt posts record sales

FY 2023 should end better than expected for car rental company Sixt.

At the beginning of the month, the Pullach-based company already specified its guidance for record revenue of EUR 3.6 billion (previously: "significant increase") and EBT of EUR 460 to 500 million (previously: EUR 430 to 550 million). In the previous year, the Group achieved around EUR 3.1 billion or EUR 386 million. The figures were well received on the stock market and the MDAX share (EUR 91.95; DE0007231326) has since risen by 8%.

After benefiting from a shortage of vehicles on the market in the previous year, Sixt has expanded its own fleet to a record 168,300 vehicles (+23%). This made it possible to better serve the high demand in the main vacation season. Although fleet costs, depreciation and interest expenses are rising due to the expansion of the vehicle fleet and rental prices are falling slightly, Sixt will be able to compensate for this thanks to generally high demand and impressive US growth (Q3: +13% revenue). The expansion in the USA is being accelerated by partnerships with the Los Angeles Lakers and the Chicago Bulls, among others.