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Sixt SE Exceeds Market Expectations in Q2

Despite the ongoing COVID-19 pandemic, the Sixt Group’s business performance  in  the  second  quarter (Q2)  of  of this year  was  positive  and  exceeded  market  expectations.

 Based on preliminary figures, earnings before taxes (EBT) improved to approximately  EUR78 million in the quarter from April to June. Consolidated operating revenue in the second quarter of approximately EUR498 million more than doubled year-on-year (EUR 225.8 million) but was 20 percent lower than consolidated operating revenue in the second quarter of 2019 (EUR625.7 million). 

 SIXT thus exceeded analysts’ estimates for the second quarter, which on average had assumed EBT of EUR61 million and consolidated revenue of EUR468 million.

This result is due in particular to the positive business development and the increased price level in the US and Europe, the noticeable recovery of business in Europe as a result of the reduction of pandemic-related restrictions as well as SIXT’s continuing cost management.