Rental car – Sixt dares to make an annual forecast – savings

At Sixt, Europe’s largest car rental company, business is going so well despite the corona pandemic that the company is now forecasting. The group’s operational revenue more than doubled in the second quarter to reach 498 (2020: 226) million euros, Sixt told Pullach. Before taxes, at 78 (minus 118) million euros, it was again enough to generate a profit exceeding analysts’ expectations, just like sales. The reason for this is the increase in rental car prices in the United States and Europe as well as the successive lifting of many Corona restrictions, which have led to a noticeable recovery in activity. The savings also continued to have an effect. Last year, business travel and tourism were largely inactive as many countries had entry and exit restrictions.

Sixt is now confident that it will be able to make a forecast for the current year for the first time. Operating sales are expected to increase by up to 38% to 1.95-2.1 billion euros, and pre-tax profit is expected to be between 190 and 220 (previous year: minus 81.5) million. euros. However, the forecast only applies if there are no new corona restrictions and the delivery bottlenecks in the automotive industry due to the chip shortage do not worsen, limited Sixt.

© SZ of 07/21/2021 / Reuters

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