2Lun·

SIXT - Strong Q1 for one of my German dividend payers 💪

$SIX2 (-2,16 %) starts 2026 with a significantly better result:

Earnings before taxes turn around to 2.1 million euros in the first quarter, after an increase of 19.7 million euros compared to Q1 2025.

* Sales increase to 928.9 million euros, up 12.6% on Q1 2025 after adjusting for currency effects

* Corp. EBITDA climbs to EUR 67.7 million, an increase of 40.2%.

* Average fleet size (excluding franchise) grows to 182,900 vehicles, an increase of 8.4% with a constant premium share of around 58%.

* Outlook confirmed: revenue of EUR 4.45 to 4.60 billion in 2026 with EBT return in the region of 10 percent

Equity of 2.2 billion euros with an equity ratio of around 30 percent.

3 Comentarios

Eddi@SaltyMainDD

@Raketentoni - So, what do you think of the place?

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Raketentoni@Raketentoni

@Aelthred

Hey eddi, thanks for the ping!

Let’s cut through the marketing fluff and get down to business. We ran Sixt through our rigorous screening process in the engine room—and the result is actually a red flag for anyone looking to build a stoic, crisis-proof portfolio:

1. **Capital Trap:**

Sixt isn’t a cash machine; it’s a massive capital drain. They have to pump billions into their fleet every year just to maintain the status quo. We’re looking for companies that generate high margins with little capital investment, not ones that constantly have to buy new vehicles just to maintain revenue.

2. **Cyclical Hell:**

Sixt is 100% dependent on economic cycles. The car rental industry is the first to be mercilessly cut back during an economic downturn. This is not a “stoic dividend payer”; it’s a cyclical pawn of the economy. If you really want stability in your portfolio, Sixt is exactly the opposite of what you’re looking for.

3. **Dividend Illusion:**

Sixt’s dividend is anything but a safe haven. It’s extremely volatile from an operational standpoint and will be slashed immediately at the next economic dip. Anyone relying on it as a foundation is building on sand.

**Conclusion:**

For a short-term gamble—if you want to bet on the next economic upswing—Sixt is an exciting pick, no question. But for a serious, stoic dividend portfolio, it’s absolutely uninteresting to us. We think absolutely nothing of this company as an investment for long-term wealth building.

It’s just a shiny car, but not a cash machine. 😉”

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Eddi@SaltyMainDD

@Raketentoni Thanks for your opinion!

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