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Ad hoc disclosure in accordance with section 15 WpHG 11/2006
(Wertpapierhandelsgesetz - German Securities Trading Act)
Sixt AG, Zugspitzstr. 1, 82049 Pullach
WKN: 723132, ISIN: DE0007231326
WKN: 723133, ISIN: DE0007231334
Frankfurt Stock Exchange, Prime Standard Segment
Best quarterly result in Sixt Group's history
Pullach, 16 November 2006 - The Sixt Group has reported record operating revenue and earnings for the third quarter of 2006, thus continuing its positive performance of the first six months. In the period from July to September 2006, the international mobility services provider's consolidated operating revenue from rental and leasing business was EUR 313.6 million, an increase of 15.6% compared to the prior-year period (EUR 271.4 million). In Q3 2006, profit before taxes (EBT) grew by 21.0% to EUR 34.9 million (Q3 2005: EUR 28.8 million), outstripping the growth in revenue. This is the highest operating revenue and the highest EBT the Group has ever achieved in a single quarter.
In the first nine months, consolidated operating revenue amounted to EUR 903.3 million, 13.9% more than in the same period of 2005 (EUR 793.4 million). Primarily as a result of intensified sales activities, Sixt continues to experience significant growth in its business, particularly abroad. Total consolidated revenue for the first nine months (including revenue from used leasing vehicle sales, which can fluctuate substantially in some cases) rose by 7.0% to EUR 1.09 billion, after EUR 1.02 billion in the same period of the previous year.
At EUR 97.2 million, consolidated profit before taxes (EBT) for the first nine months rose by 48.9% on the previous year's figure (EUR 65.3 million). Consolidated profit after taxes and minority interests increased by 55.7% to EUR 59.5 million in the same period (Q1-3 2005: EUR 38.2 million).
Revenue from rental business in the Vehicle Rental Business Unit totalled EUR 648.8 million in the first nine months of 2006, compared to EUR 571.2 million in the same period of the previous year (+13.6%). EBT was up 61.2%, from EUR 52.6 million to EUR 84.8 million. The Leasing Business Unit's revenue from leasing activities rose by 14.5% to EUR 254.5 million (Q1-3 2005: EUR 222.2 million). EBT declined slightly by 4.3% to EUR 10.9 million (Q1-3 2005: EUR 11.4 million), due to a one-off effect in Q2.
On the basis of developments to date in the fourth quarter, the Managing Board remains very optimistic for full-year 2006. The Board has confirmed its previous expectations for consolidated operating revenue in full and has raised its earnings expectations once more. Consolidated operating profit is expected to grow by more than the previously forecasted 25% from its 2005 base.
For further information, please contact:
Frank Elsner
Frank Elsner Kommunikation für Unternehmen GmbH
Tel.: ++49 - (0) 54 04 - 91 92 0
Fax: ++49 - (0) 54 04 - 91 92 29
