Following this Q1 start, the managing board of Sixt confirms its outlook for the entire fiscal year of 2019 and plans investments of around 8 billion euros ($9 billion).
Photo courtesy of Sixt.
Sixt continued its growth path in Q1 of 2019, increasing its revenue 14.2% from the previous year to 620 million euros ($697.4 million).
The continued increase in demand registered by the foreign vehicle rental companies contributed to this growth in particular. Earnings were affected by the additional expenses for expansion abroad, the ramp-up phase for an integrated mobility platform Sixt One, and the further digitisation of the rental processes.
The group's earnings before taxes amounted to 47.1 million euros ($52 million) and were almost on a par with last year's figure of 48.2 million euros ($54.2 million), after adjustment for the sale of the stake in DriveNow. Following this Q1 start, the managing board of Sixt confirms its outlook for the entire fiscal year of 2019 and plans investments of around 8 billion euros ($9 billion).
Originally posted on Auto Rental News
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