15.03.2017
Sixt SE DE0007231326
DGAP-News: Sixt SE: After record year Sixt expects for 2017 further growth of revenue and earnings
DGAP-News: Sixt SE / Key word(s): Preliminary Results
Sixt SE: After record year Sixt expects for 2017 further growth of revenue
and earnings
15.03.2017 / 07:30
The issuer is solely responsible for the content of this announcement.
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After record year Sixt expects for 2017 further growth of revenue and
earnings
* Record earnings before taxes (EBT) climb by 17.9% to EUR 218.3 million,
including a one-time effect
* Dividend for 2016 to increase to EUR 1.65 for ordinary shares and EUR
1.67 for preference shares
* Rental business outside of Germany continues to grow significantly above
market level
* Ongoing European expansion: market entry into Italy as new Sixt
corporate country in 2017
* Sixt creates mobility of the future: "Mobility as a Service" (MaaS) to
become innovative alternative to company car
Pullach, 15 March 2017 - The Sixt Group registered a highly successful
fiscal year 2016 and continued the trend of the preceding years. Business
performance exceeded original projections and was characterised by ongoing
progress in the worldwide expansion as well as record figures for
consolidated operating revenue and Group earnings. For the first time in
corporate history earnings before taxes (EBT) scale the EUR 200 million mark
as they climb 17.9% year-on-year to EUR 218.3 million. Shareholders are set
to benefit in the gratifying business performance with dividends for
ordinary shares up to EUR 1.65 and for preference shares to EUR 1.67. For
the current fiscal year the Managing Board expects to see another slight
increase in revenues and a stable to marginally higher EBT.
Sixt presents the preliminary key figures for the Group's annual financial
statements 2016 during the company's annual press conference today in
Munich.
Erich Sixt, CEO of Sixt SE: "2016 was an all-out success for Sixt. Our
hallmarks are and remain profitability and innovation. There are many around
pretending to offer mobility for the future, but the fact is that Sixt
already offers today the products and necessary expertise to provide our
customers with a holistically integrated automotive mobility. We continue to
define the industry's benchmarks as innovation leader with our new services,
such as MaaS or Sixt fastlane."
Italy as new Sixt corporate country
After expiration of contract with a franchisee, in future Sixt will be
present in Italy through its own network of stations. With an annual volume
of around EUR 1.1 billion, Italy is among the larger vehicle rental markets
in Europe. Following the successful opening of stations at the airports in
Rome and Milan the network of stations is set to expand continually, with a
focus on airports and larger business and holiday destinations in the North
of Italy.
Mobility as a Service (MaaS): Sixt unifies services in flexible mobility
budgets
In 2016, Sixt successfully launched new mobility products on the market,
above all "Mobility as a Service" (MaaS), which is a cost-saving and
demand-driven alternative to the own car. Instead of owning a car that is
utilized only 4% in day to day conditions, Sixt offers individualized
mobility budgets. User have access to a variety of Sixt products (Sixt Rent
a Car, the premium carsharing service DriveNow and the chauffeur service
myDriver). The services are bookable and usable online in over 60 countries
via a user-friendly portal.
For corporations, MaaS is an economical alternative to the classic company
car model as well as an attractive incentive for employees that provides
cost transparency and a minimum of administration. Employees can enjoy the
flexible usage of these mobility services for private purposes. Sixt has
already won over renowned reference clients for MaaS and plans to
continually expand the offer in 2017.
The new Sixt fastlane service that was introduced 2016 at selected stations
in Switzerland met with a very positive response. Sixt fastlane enables to
handle the entire vehicle rental via a Sixt-App from a smartphone. Customers
can select their booked vehicle maximally 30 minutes before collection and
open the car directly without having to see the counter. Following the good
feedback, this innovative service is set to be rolled out in additional
countries.
Shareholder-friendly dividend policy
Subject to the approval of the Supervisory Board, the Managing Board will
propose to the Annual General Meeting on 30 June 2017 to increase the
dividend for fiscal year 2016 to EUR 1.65 for ordinary shares and EUR 1.67
for preference shares. For the preceding year the payouts had been EUR 1.50
for ordinary shares and EUR 1.52 for preference shares. This would increase
the total dividend payout from EUR 71.5 million to EUR 77.7 million.
Dr. Julian zu Putlitz, CFO of Sixt SE: "Last year Sixt once more
demonstrated that it is one of the worldwide most profitable vehicle rental
companies. The strong earnings position and strength of our equity provide
us with the platform to continue our traditional shareholder-friendly
dividend policy and to propose to our shareholders the payment of a record
dividend for 2016."
Key Group figures for fiscal year 2016
* The Group's total revenue climbed 10.7% to EUR 2.41 billion after EUR
2.18 billion the year before. The strong growth is above all due to the
continued expansion of the vehicle rental business in Europe outside of
Germany and the USA.
* Rental revenues once more showed growth outstripping the market average
and expanded by 11.4% to EUR 1.53 billion (2015: EUR 1.38 billion). This
was down to the strong demand in foreign markets. Here rental revenues
climbed 20.7%. The share of foreign business in total rental revenues
therefore gained significantly and climbed from 49.2% in 2015 to 53.3%.
* Leasing revenue of EUR 219.3 million was slightly up on the level of
last year
(EUR 211.4 million; +3.7%). Sixt Leasing SE continued its course of
creating strong margin-oriented growth in its new businesses.
* Consolidated earnings before taxes (EBT), the Sixt Group's principal
success parameter, gained 17.9% to a record figure of EUR 218.3 million
(2015: EUR 185.2 million). Earnings therefore outperformed the revenue
growth despite persistently higher extra expenses for strategic
expansion measures. The result also includes a one-time effect at an
amount in the mid-single digit million region from the reversal of a
legal risk provision, which is no longer required.
* Consolidated profit climbed 22.2%, from EUR 128.2 million to EUR 156.6
million.
Outlook for fiscal year 207
In line with the projected general economic developments in its core markets
Sixt expects for 2017 to see ongoing growth in demand for the Vehicle Rental
Business Unit. This will continue to be driven above all by its foreign
operations. The expansion activities and measures undertaken in Europe and
the USA will continue and trigger corresponding extra expenses, as for
example in Italy, which is being set-up as another Sixt corporate country.
The assumptions for the Leasing Business Unit are likewise foreseeing a
continuation of the positive business development and ongoing growth of the
contract portfolio. Nonetheless, all divisions and units of the Sixt Group
are focusing on qualitative and earnings-oriented growth.
Based on these assumptions the Managing Board expects for the current fiscal
year to generate slightly higher consolidated operating revenue and stable
to marginally higher Group EBT.
Contact:
Frank Elsner
Sixt Central Press Office
Tel.: +49 (0) 89 / 99 24 96 - 30
Fax: +49 (0) 89 / 99 24 96 - 32
E-Mail: [email protected]
Note:
The full consolidated financial statements 2016 of Sixt SE will be published
on 24 April 2017.
The most important preliminary figures can be downloaded already today on
our website at http://ir.sixt.eu.
The Sixt Group at a glance
(Preliminary data according to IFRS; rounding differences may occur)
Revenue development Change
in EUR million 2016 2015 %
Operating revenue 2,123.7 1,939.1 +9.5
Rental Business Unit 1,703.4 1,519.3 +12.1
Thereof rental revenue 1,533.5 1,376.9 +11.4
Thereof other revenue from rental 169.9 142.4 +19.3
business
Leasing Business Unit 704.2 655.4 +7.5
Thereof leasing revenue 219.3 211.4 +3.7
Thereof other revenue from leasing 201.1 208.4 -3.5
business
Thereof sales revenue 283.9 235.5 +20.5
Other revenue 5.1 4.6 +10.1
Consolidated revenue 2,412.7 2,179.3 +10.7
Earnings performance Change
in EUR million 2016 2015 %
Fleet expenses and cost of lease assets 850.0 814.4 +4.4
Personnel expenses 334.7 274.5 +21.9
Depreciation and amortisation expense 500.7 411.4 +21.7
Net other operating income/expenses -471.5 -457.1 +3.1
Earnings before interest and taxes 255.8 221.8 +15.3
(EBIT)
Net finance costs -37.5 -36.6 +2.5
Earnings before taxes (EBT) 218.3 185.2 +17.9
Thereof rental business unit 181.0 160.4 +12.8
Thereof leasing business unit 31.6 30.3 +4.3
Income tax expense 61.7 57.0 +8.1
Consolidated profit 156.6 128.2 +22.2
Earnings per share (in EUR) 3.01 2.39 +25.9
Other key figures for the Group 31 Dec. 31 Dec. Change %
2016 2015
Total assets (EUR million) 4,028.5 3,660.5 +10.1
Rental vehicles (EUR million) 1,957.0 1,763.3 +11.0
Lease assets (EUR million) 1,020.8 957.8 +6.6
Equity (EUR million) 1,079.7 1,058.8 +2.0
Equity ratio (%) 26.8 28.9 -2.1
Points
2016 2015 Change %
Investments (EUR billion)1 5.68 5.26 +8.1
Average number of rental vehicles 108,000 98,200 +10.0
(Group)
Number of rental offices (worldwide)2 2,200 2,153 +2.2
Number of leasing contracts as at 31 113,600 103,200 +10.1
Dec. (Group)
1 Value of vehicles added to the rental and leasing fleet
2 Incl. franchise countries
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15.03.2017 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Language: English
Company: Sixt SE
Zugspitzstraße 1
82049 Pullach
Germany
Phone: +49 (0)89 74444-5104
Fax: +49 (0)89 74444-85104
E-mail: [email protected]
Internet: http://ir.sixt.de
ISIN: DE0007231326, DE0007231334 Sixt Vorzüge, DE000A1K0656 Sixt
Namensaktien, DE000A1PGPF8 Sixt-Anleihe 2012/2018,
DE000A11QGR9 Sixt-Anleihe 2014/2020, DE000A2BPDU2
Sixt-Anleihe 2016/2022
WKN: 723132
Indices: SDAX
Listed: Regulated Market in Frankfurt, Munich; Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
Stuttgart, Tradegate Exchange
End of News DGAP News Service
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553731 15.03.2017
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