DGAP-News: Sixt SE / Key word(s): Half Year Results Sixt SE: Sixt records the best half-year in the Company's history 16.08.2018 / 07:31 The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Sixt records the best half-year in the Company's history * Consolidated operating revenue 11.1% up after six months * Earnings before taxes (EBT) more than tripled to EUR 326.9 million, adjusted by non-recurring effect up by 27.5% * Operating return on revenue adjusted for non-recurring effect rises to 11.0%, in Q2 to as much as 12.9% * Almost 150,000 vehicles added to the Sixt fleets - investments of EUR 4 billion * CEO Erich Sixt: "Sixt stands out brilliantly to shape the mobility of the future." Pullach, 16 August 2018 - The Sixt Group recorded the best first half-year in the Company's history. During the first six months 2018 the mobility service provider benefitted from ongoing strong demand across all customer groups at home and abroad, above all in the seasonally stronger second quarter. As part of this development, earnings before taxes (EBT) significantly outperformed revenue growth. Including the proceeds from the sale of the DriveNow stake, incurred in the first quarter, earnings more than tripled to EUR 326.9 million. Adjusted by this non-recurring income earnings grew substantially by 27.5%. Group's adjusted operating return on revenue for the first six months of 2018 climbed from 9.6% (H1 2017) to 11.0%. Thus, the Sixt Group managed to increase its profitability once more significantly during the first half of 2018 and further strengthened its position as one of the world's most profitable mobility service providers. Erich Sixt, CEO of Sixt SE: "Sixt is in top form. The highly dynamic development of the first six months again clearly exceeded the business performance of the previous year. Our position of economic strength continues to allow us to shape the mobility of the future. Because new products and services will continue to require considerable investments in software, personnel and IT systems in the future." Key Group figures for the first six months of 2018 * Consolidated operating revenue (excluding revenue from the sale of returned leasing vehicles) rose 11.1% to EUR 1.18 billion (H1 2017: EUR 1.07 billion). * Total Group revenue amounted the EUR 1.35 billion, a plus of 10.8% (H1 2017: EUR 1.21 billion). * Operating revenue for the Vehicle Rental Business Unit came to EUR 954.5 million, some 12.5% higher than the previous year's figure at EUR 848.3 million. All foreign subsidiaries continued their dynamic growth with high demand, so that revenue there climbed by 18.0% to EUR 534.8 million. The share of foreign business in the Business Unit's revenue gained 2.6 percentage points from H1 2017 to 56.0%. Revenue generated in Germany increased 6.2% to EUR 419.7 million. * Operating revenue generated in the Leasing Business Unit (without the sales revenue) increased 5.4% to EUR 230.3 million (H1 2017: EUR 218.4 million). As at 30 June 2018 the Business Unit had some 133,800 contracts (31 December 2017: around 132,900 contracts). The approximately 47,000 leasing contracts with private and commercial customers (Online Retail) generated over the platforms www.sixt-neuwagen.de and www.autohaus24.de have meanwhile made it Sixt Leasing SE's biggest business field. * Earnings before taxes (EBT), the Sixt Group's key indicator for measuring business success, came to EUR 326.9 million. This includes a pre-tax income of EUR 196.1 million, that was made from the sale of the Company's investment in the joint venture DriveNow to the BMW Group. Discounting this non-recurring income the EBT recognised for the first six months came to EUR 130.8 million, after EUR 102.6 million measured during the same period the year before, a plus of 27.5%. The adjusted operating return on revenue was 11.0% (H1 2017: 9.6%). * For the first six months Sixt recognises consolidated profit before minority interests of EUR 280.7 million, which corresponds to an almost fourfold increase (H1 2017: EUR 72.9 million). Key Group figures for the second quarter 2018 * Consolidated operating revenue climbed 11.9% to EUR 641.8 million (Q2 2017: EUR 573.6 million). * Sixt expanded the Group's total revenue by 11.6% to EUR 719.5 million (Q2 2017: EUR 644.5 million). * At EUR 82.7 million, EBT was 25.6% higher than the figure for Q2 2017 (EUR 65.8 million). As a consequence, the operating return on revenue stood at 12.9% (Q2 2017: 11.5%). Record level of investments From January to June 2018 Sixt added around 148,800 vehicles to the rental and leasing fleets (H1 2017: approx. 121,400 vehicles) with a total value of EUR 4.02 billion (H1 2017: EUR 3.43 billion). This equals an increase of around 22.6% in the number of vehicles and around 17.2% in the investment volume. Outlook for the full-year 2018 Sixt upgraded its earnings forecast for the full fiscal year 2018 already on 25 April 2018. At the time the projections for consolidated operating revenue were left unchanged. Following the equally satisfying second quarter these expectations were reiterated. Sixt therefore maintains its forecast and expects the full fiscal year 2018 to register a significant increase in consolidated EBT over the previous year (2017: EUR 287.3 million). This statement does not include the earnings contribution from the sale of the stake in DriveNow in the amount of around EUR 196 million. As far as consolidated operating revenue is concerned the expectations are also unchanged and foresee a significant increase compared to the previous year (EUR 2,309.3 million). Sixt SE publishes its interim financial report as at 30 June 2018 today on its website at http://ir.sixt.eu. 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] The Sixt Group at a glance (Figures according to IFRS; rounding differences may occur) Revenue development in EUR million H1 2018 H1 2017 Change Q2 Q2 Change in % 2018 2017 in % Operating revenue 1,184.8 1,066.8 +11.1 641.8 573.6 +11.9 Rental Business Unit 954.5 848.3 +12.5 529.2 465.1 +13.8 Thereof rental 869.3 766.1 +13.5 484.8 424.7 +14.1 revenue Thereof other 85.2 82.3 +3.6 44.4 40.4 +9.9 revenue from rental business Leasing Business 388.5 363.5 +6.9 189.2 178.4 +6.0 Unit Thereof leasing 116.9 112.6 +3.8 58.8 56.0 +5.0 revenue Thereof other 113.4 105.9 +7.1 53.9 52.5 +2.6 revenue from leasing business Thereof sales 158.2 145.1 +9.0 76.6 70.0 +9.4 revenue Other revenue 2.2 1.9 +16.3 1.2 0.9 +26.8 Consolidated revenue 1,345.2 1,213.8 +10.8 719.5 644.5 +11.6 Earnings performance in EUR million H1 H1 Change Q2 Q2 Change 2018 2017 in % 2018 2017 in % Fleet expenses and cost 475.7 424.8 +12.0 238.6 219.6 +8.6 of lease assets Personnel expenses 196.0 170.7 +14.8 104.5 89.4 +16.9 Depreciation and 259.1 253.9 +2.0 136.0 138.3 -1.6 amortisation expense Net other operating -264.- -245.- +7.7 -149.- -123.- +20.7 income/expenses 2 3 5 9 Earnings before 150.2 119.1 +26.1 90.9 73.3 +24.1 interest and taxes (EBIT) Net finance costs 176.8 -16.5 >-100 -8.2 -7.5 +10.4 Earnings before taxes 326.9 102.6 >+100 82.7 65.8 +25.6 (EBT) Thereof Rental Business 111.5 80.3 +38.8 71.8 54.7 +31.2 Unit Thereof Leasing 15.8 16.8 -5.6 7.8 8.3 -6.0 Business Unit Income tax expense 46.2 29.7 +55.3 16.5 18.5 -10.6 Consolidated profit 280.7 72.9 >+100 66.1 47.3 +39.8 Other key figures for the Group 30 Jun. 31 Dec. Change 2018 2017 in % Total assets (in EUR million) 5,633.2 4,491.0 +25.4 Rental vehicles (in EUR million) 3,039.7 2,076.0 +46.4 Lease assets (in EUR million) 1,265.0 1,219.2 +3.8 Equity (in EUR million) 1,283.4 1,177.9 +9.0 Equity ratio (in %) 22.8 26.2 -3.4 Points H1 2018 H1 2017 Change in % Investments (in EUR billion)1 4.02 3.43 +17.2 Average number of rental vehicles 121,100 107,400 +12.8 (Group) Number of rental offices (worldwide)2 2,177 2,264 -3.8 Number of leasing contracts as at 30 133,800 128,900 +3.8 June (Group) 1 Value of vehicles added to the rental and leasing fleets 2 Incl. franchise countries --------------------------------------------------------------------------- 16.08.2018 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 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.com ISIN: DE0007231326, DE0007231334 Sixt Vorzüge, DE000A1K0656 Sixt Namensaktien, DE000A11QGR9 Sixt-Anleihe 2014/2020, DE000A2BPDU2 Sixt-Anleihe 2016/2022, DE000A2G9HU0 Sixt-Anleihe 2018/2024 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 --------------------------------------------------------------------------- 714655 16.08.2018