Sixt remains cautious on profit forecast - record sales

Sixt remains cautious on profit forecast - record sales

Despite record sales in the first nine months of the year, Sixt SE is sticking to its cautious profit forecast for the full year. The mobility service provider announced on Tuesday that sales in the first three quarters rose by 37 percent to 3.58 billion euros compared to the same period last year.

Growth through rental and leasing

According to Sixt, the growth was mainly driven by the rental and leasing business. With 2.53 billion euros, sales in this segment were almost 35 percent higher than in the previous year. The core brand Sixt rent a car increased its revenue by around 37 percent. In contrast, car subscriptions developed more moderately. Here, Sixt reported sales of 194 million euros, an increase of around 4 percent compared to the previous year.

Outlook

For the full year, Sixt expects sales to increase by 30 to 35 percent. However, due to the ongoing economic and geopolitical uncertainties, the company is sticking to its cautious profit forecast. Sixt continues to expect an adjusted EBIT margin of 6.0 to 7.0 percent for 2022.