The car rental company Sixt continues to record good demand.
Revenue rose by ten percent to EUR 858.1 million in the first quarter, as the company announced in Pullach on Tuesday.
The company recorded robust growth in Europe and the USA. Analysts had expected lower growth.
At the same time, Sixt was able to reduce its losses. Earnings before taxes improved by 36 percent to minus EUR 17.6 million, while the net loss amounted to EUR 12.6 million after a loss of a good EUR 23 million in the previous year.
The company also benefited from a tight fleet: the fleet only grew by just under four percent. The company confirmed its forecast for the current year. "Against the backdrop of continuing macroeconomic uncertainties, we are planning for the decisive summer business with an even tighter fleet," commented CFO Franz Weinberger.
The company achieved record sales of EUR 858.1 million, which corresponds to an increase of 12.3% compared to the same quarter of the previous year.
EBITDA amounted to EUR 217.8 million, also a record figure for a first quarter. However, Sixt recorded earnings before taxes (EBT) of EUR -17.6 million, which is attributable to market-related factors.
Despite the quarterly loss, Sixt confirms its forecast for the financial year 2025.
The company continues to expect revenue growth of 5% to 10%, supported by strong demand in the summer business.
