Sixt smashes even its own expectations to achieve its best ever half year result.
Sixt has announced impressive results for the first half of 2018 and is hoping to sustain the positive growth through to the end of the year. Its earnings before taxes came in at a staggering €326.9 million (just over £293 million), the highest the transport and mobility franchise has ever seen.
Sixt’s success came as a result of various factors, including plenty of demand for its mobility services across all 105 countries it currently operates in and the sale of its stake in Drive Now to its joint-venture partner BMW for a cool €196.1 million (around £176 million). But, even without the cash injection from this one-off event, earnings before taxes had risen 27.5% on the same period of 2017 and revenue was up by 11.1%.
The profitable franchise also added just under 150,000 vehicles to its rental and leasing fleets, increasing its already impressive fleet by around 22.6%.
CEO Erich Sixt commented on the success, saying:
“Sixt is in top form. The highly dynamic development of the first six months again clearly exceeded the business performance of the previous year.”
He added that the company’s strong economic position would allow it to continue developing and adding to its services, due to the cost of investing in the new software, personnel and IT systems to ensure it can stay at the top of its game.
“Sixt stands out brilliantly to shape the mobility of the future,” he concluded.
With over 2,000 locations across the globe in major cities including London, Barcelona, Vienna, Orlando and New York, Sixt’s car hire service is a trusted go-to no matter where you are in the world. With its wide range of services for all occasions including weddings, holidays, long-term leasing and one-way car hire, it’s no wonder that Sixt is one of the most successful car hire franchises on the planet.
Sophie Cole, Point Franchise ©
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