DGAP-News: Sixt Leasing SE / Key word(s): 9-month figures/Quarterly / Interim Statement Sixt Leasing SE: Sixt Leasing expands contract portfolio and raises profitability during first nine months of 2016 16.11.2016 / 07:31 The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Sixt Leasing expands contract portfolio and raises profitability during first nine months of 2016 - Consolidated revenue up by 7.3% to EUR 534.7 million after nine months - Group EBT increases above average by 9.8% to EUR 23.9 million despite higher expenditures for growth initiatives - Operating return on revenue improves by 11.9% to 7.5% - Contract portfolio gains 7.5% to 111,000 contracts - Reorganisation of Group financing as planned leads to improvement of financial result of EUR 1.0 million compared to second quarter 2016 Pullach, 16 November 2016 - Sixt Leasing SE, one of the largest non-bank, vendor-neutral full-service leasing companies in Germany, recorded a positive development during the first nine months of 2016 and raised its contract portfolio and profitability in line with corporate strategy. Consolidated earnings before taxes (EBT), the key parameter for measuring business success, increased by 9.8% to EUR 23.9 million despite higher expenditures for growth initiatives in the Online Retail business field (private and commercial customer leasing) and thus outperformed growth of consolidated revenue. Operating return on revenue improved to 7.5%. At the end of September 2016 the contract portfolio amounted to 111,000 contracts, an increase of 7.5% compared to the number as of 31 December 2015. Rudolf Rizzolli, CEO of Sixt Leasing SE: "Sixt Leasing further extended its leading position in online retail leasing in Germany through the recent advertising campaigns. As early mover we have a critical advantage on a so far largely untapped market. We aim to increase this advantage and will therefore continue to invest in advertising measures. In our opinion, the market for private and commercial customer leasing is only at the beginning of its development. This provides Sixt Leasing with substantial growth opportunities over the coming years." Sixt Leasing Group key figures after nine months 2016 - Group revenue for the first nine months of 2016 climbed by 7.3% compared to the same period the year before, totalling EUR 534.7 million (9M 2015: EUR 498.5 million). This growth was especially the result of higher proceeds from the sale of returned leasing vehicles and the remarketing of customer vehicles in the Fleet Management business unit. - Consolidated operating revenue (without the proceeds from vehicle sales) dropped slightly by 1.9% to EUR 318.4 million (9M 2015: EUR 324.5 million). The decline is mainly the result of lower fuel prices depressing the revenue from fuel. Adjusted for this effect, consolidated operating revenue increased by 1.7%. - Sixt Leasing recognises consolidated earnings before taxes (EBT) of EUR 23.9 million, an increase of 9.8% on the same figure the year before (9M 2015: EUR 21.7 million). EBT in Q3 was negatively impacted by expenditures of around EUR 2 million for the new vehicle broker autohaus24 GmbH that was acquired in April and its integration as well as the continuation of the TV advertising campaign. This was offset by positive effects arising from the ongoing reorganisation of the Group's financing. After the redemption of EUR 209 million from the Sixt SE Core Loan at the end of June 2016, the financial result in the third quarter improved by EUR 1.0 million compared to the second quarter 2016. - Operating return on revenue (EBT/operating revenue) gained in line with strategy for qualitative growth by 11.9% to 7.5% (9M 2015: 6.7%). Björn Waldow, CFO of Sixt Leasing SE: "The economic benefits from building-up an independent financing structure become more and more visible. Following the repayment of EUR 209 million from the Sixt SE Core Loan the financial result improved by EUR 1.0 million in the third quarter only. This effect will continue in the next quarters. By gradually redeeming the remaining loan amount of EUR 490 million, we expect further significant savings in the future." Contract portfolio keeps growing As of 30 September 2016 the Group's total number of contracts inside and outside Germany (excluding franchisees and cooperation partners) amounted to 111,000 contracts (31 December 2015: 103,200 contracts; +7.5%). The gain is essentially due to the dynamic development of the Online Retail business field, whose contract portfolio improved by 22.3% to 25,800 contracts (31 December 2015: 21,100 contracts). In the Fleet Leasing business field the number of contracts totalled 47,400, which was slightly lower than at the end of the previous year (31 December 2015: 48,300; -2.0%) but 1.1% up on the figure at the end of the previous quarter. For the Fleet Management business unit the number of contracts at the end of the third quarter climbed to 37,800, 11.9% more than on 31 December 2015 (33,800 contracts). This gain is essentially due to the complete take-over of the present Sixt Mobility Consulting AG in Switzerland as well as the acquisition of a new client. Outlook for the year 2016 The Managing Board continues to expect the contract portfolio to expand in the full fiscal year 2016. Despite the investments in the long-term growth of the Online Retail business field, Sixt Leasing continues to expect a slight improvement in consolidated EBT. For the consolidated operating revenue in 2016 a stable development is expected compared to last year. For the Group's equity ratio the Managing Board aims to achieve a figure above the targeted minimum of 14%. Contact: Sixt Leasing SE Corporate Communications Frank Elsner / Frank Paschen Tel.: +49 (0) 89 / 99 24 96 - 30 Fax: +49 (0) 89 / 99 24 96 - 32 E-Mail: [email protected] The Sixt Leasing Group at a glance (Figures in accordance with IFRS)1 Revenue performance EUR million 9M 2016 9M 2015 Change % Q3 2016 Q3 2015 Change % Leasing 473.0 445.6 +6.2 160.2 151.9 +5.4 segment Fleet 61.7 53.0 +16.4 21.1 17.5 +20.5 Management segment Consolidated 534.7 498.5 +7.3 181.3 169.5 +7.0 revenue thereof 318.4 324.5 -1.9 107.5 108.6 -1.0 consolidated operating revenue (without vehicle sales) thereof sales 216.3 174.0 +24.3 73.7 60.8 +21.3 revenue Earnings performance EUR million 9M 2016 9M 2015 Change % Q3 2016 Q3 2015 Change % Fleet expenses 325.6 301.5 +8.0 111.1 101.6 +9.4 and cost of lease assets Personnel 18.4 15.1 +21.6 6.7 4.6 +43.4 expenses Depreciation and 135.9 133.4 +1.9 44.8 45.3 -1.1 amortisation Net other -15.7 -11.2 +40.4 -6.7 -4.6 +45.7 operating income/expense Net finance -15.2 -15.6 -2.1 -4.3 -5.3 -17.8 costs Earnings before 23.9 21.7 +9.8 7.6 8.0 -4.5 taxes (EBT) Operating return 7.5 6.7 +0.8 7.1 7.4 -0.3 on revenue (%)2 points points Income tax 6.4 5.8 +10.8 2.2 2.1 +3.3 expenses Consolidated 17.5 15.9 +9.5 5.5 5.9 -7.3 profit/loss Undiluted 0.85 0.88 - 0.27 0.29 - earnings per share (in EUR)3 Balance sheet figures in EUR million 30.09.2016 31.12.2015 Change in % Total equity and 1,139.0 1,112.9 +2.3 liabilities Lease assets 996.1 957.8 +4.0 Non-current 490.0 699.0 -29.9 liabilities to related parties4 Current liabilities 3.5 4.0 -12.6 to related parties5 Other financial 322.3 97.3 >+100 liabilities6 Equity 187.6 178.3 +5.2 Equity ratio (%) 16.5 16.0 +0.5 points 9M 2016 9M 2015 Change in % Investments in 343.6 319.1 +7.7 lease assets7 -- 1 Due to rounding it is possible that individual figures in this release cannot be added up to the amount recorded. For the same reason, the percentage figures may not always exactly reflect the absolute numbers to which they refer. 2 Ratio of EBT to operating revenue 3 Ratio of consolidated profit attributable to the Group shareholders to weighted number of shares for the period 4 Liabilities to Sixt SE 5 Mainly liabilities to Sixt SE 6 Current and non-current financial liabilities, including finance leases 7 Value of vehicles added to the leasing fleet --------------------------------------------------------------------------- 16.11.2016 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. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de --------------------------------------------------------------------------- Language: English Company: Sixt Leasing SE Zugspitzstraße 1 82049 Pullach Germany Phone: +49 (0)89 744 44 - 4518 Fax: +49 (0)89 744 44 - 8 4518 E-mail: [email protected] Internet: http://www.sixt-leasing.de ISIN: DE000A0DPRE6 WKN: A0DPRE Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange End of News DGAP News Service --------------------------------------------------------------------------- 521187 16.11.2016