Sixt reports record quarterly profit as recovery continues

With consolidated earnings before taxes of €253 million for the three months to the end of September, Sixt has reported the best quarterly operating result in its history.

Compared to the same quarter of the previous year, where the company recorded earnings of €66 million, this represents nearly a fourfold increase.

Compared to the third quarter of the pre-Covid-19 2019 figure, an increase of 72 per cent.

At €795 million, consolidated operating revenue in the third quarter was 73 per cent higher than in the same period of the previous year.

It was two per cent higher than in the third quarter of 2019, when a figure of €778 million was recorded.

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In achieving these significant increases in revenue and earnings, Sixt has benefitted from the strong demand for mobility that continued into the fall, particularly in the USA and European markets.

Besides vacation travel, the business travel segment has also shown a clear recovery, the company said.

Kai Andrejewski, chief financial officer of Sixt, said: “Sixt is able to benefit more from the current market situation in the European and US rental industry than our competitors and thus further improve its market position.

“This is not least due to the fact that we also invested during the Covid-19 crisis and thus anti-cyclically and consistently implemented our internationalisation and digitalisation strategy.

“The new stations in the USA, the car subscription offer SIXT+ that we successfully rolled out internationally and the constant improvement of our digital processes in the interest of the customer are increasingly paying off in the current upturn phase.”

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