DGAP-Adhoc: Sixt SE: SIXT raises forecast for financial year 2022 significantly
DGAP-Ad-hoc: Sixt SE / Key word(s): Forecast/Change in Forecast
Sixt SE: SIXT raises forecast for financial year 2022 significantly
14-Sep-2022 / 11:35 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
SIXT raises forecast for financial year 2022 significantly
Pullach, 14 September 2022 – Based on the preliminary figures currently available for August and expectations for the coming months of 2022, the Management Board of Sixt SE raised its previous forecast for financial year 2022 significantly today and now expects consolidated revenue for financial year 2022 to be between EUR 2.8 billion and EUR 3.1 billion (previously: significantly above EUR 2.28 billion) and earnings before taxes (EBT) for Sixt Group in the range between EUR 500 million and EUR 550 million (most recently: at the upper end of the forecast range of EUR 380 million to EUR 480 million). The current average analyst estimate for the consolidated revenue of Sixt Group for 2022 is EUR 2.87 billion and thus within the raised forecast. The projected EBT range is above the average current analyst estimate of EUR 489 million.
The reasons for this positive development are in particular how the business developed in August as well as the emerging development for September, both of which are significantly above previous expectations. The key factors here were, in particular, the significantly higher than expected strong demand in Europe and the US, the very positive market price level, which is above the historically high levels of the previous year, and the development of the exchange rate for the US dollar. The updated forecast for financial year 2022 was prepared on the basis of the current market environment and under the assumption that there are significant uncertainties for the last quarter of financial year 2022 in view of the numerous impending macroeconomic difficulties in Europe and the US.
Sixt SE will publish its third quarter results as of 30 September on 9 November 2022 as planned.
Contact:
Nicole Schillinger
Head of Investor Relations
Sixt SE
Tel.: +49 (0)89 74444-5104
Email: investorrelations@sixt.com
Pullach, 14 September 2022 – Based on the preliminary figures currently available for August and expectations for the coming months of 2022, the Management Board of Sixt SE raised its previous forecast for financial year 2022 significantly today and now expects consolidated revenue for financial year 2022 to be between EUR 2.8 billion and EUR 3.1 billion (previously: significantly above EUR 2.28 billion) and earnings before taxes (EBT) for Sixt Group in the range between EUR 500 million and EUR 550 million (most recently: at the upper end of the forecast range of EUR 380 million to EUR 480 million). The current average analyst estimate for the consolidated revenue of Sixt Group for 2022 is EUR 2.87 billion and thus within the raised forecast. The projected EBT range is above the average current analyst estimate of EUR 489 million.
The reasons for this positive development are in particular how the business developed in August as well as the emerging development for September, both of which are significantly above previous expectations. The key factors here were, in particular, the significantly higher than expected strong demand in Europe and the US, the very positive market price level, which is above the historically high levels of the previous year, and the development of the exchange rate for the US dollar. The updated forecast for financial year 2022 was prepared on the basis of the current market environment and under the assumption that there are significant uncertainties for the last quarter of financial year 2022 in view of the numerous impending macroeconomic difficulties in Europe and the US.
Sixt SE will publish its third quarter results as of 30 September on 9 November 2022 as planned.
Contact:
Nicole Schillinger
Head of Investor Relations
Sixt SE
Tel.: +49 (0)89 74444-5104
Email: investorrelations@sixt.com
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