Sixt:Quarterly Results/2024 Q4

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See also: Sixt Valuation Model

Management Guidance and Analysts Estimates

Management guidance

  • The management expects a significant growth in consolidated revenue in 2024.
  • The management guides for 2024 EBT of around EUR 340 million. Based on this, management is guiding Q4 EBT of EUR 58 million (+12.3% y/y).

Analysts estimates

Key Items[1] Q4 2024 Y/Y 2025 Y/Y
Revenue EUR 919.6 million 5.6% EUR 4,236 million 7.3%
EBT EUR 56.3 million 8.9% EUR 464 million 37.2%

Analysts opinions

Management's outlook for 2025 is likely to be cautious

  • Buy, €96->€102: Analyst Michael Kuhn of Deutsche Bank said the market is positive but the management's initial outlook for 2025 is likely to be cautious.

2025 is likely to be a better year for Sixt

  • Buy, €90: Analyst Christian Obst of Baader Bank expects Sixt to increase its EBT in 2025 since most of the 2024 burdens are now likely to reduce.
  • Buy, €135: Warburg Research said Sixt is one of their "Best Ideas 2025". They expect growth in the high single-digit percentage range in 2025 and 2026 due to further expansion in USA and European countries.

Conditions are now favorable for Sixt shares

  • Buy, €110: Jefferies said conditions for medium-sized European companies (midcaps) are now favorable. They expect enormous valuation potential, especially for cyclical companies since it's unlikely that there will be a "hard landing". They said they remain positive on Sixt.

The sale of 600,000 shares at a discount by an investor is unlikely to alter the investment thesis

  • Analyst Dirk Schlamp of DZ Bank said the sale of 600,000 shares at a discount by an investor is unlikely to alter the investment thesis or analysts consensus estimates. He suspects profit taking since the shares had risen by 22% since the beginning of December.

Developments during the quarter

  • Sixt won Booking.com Traveler Review Award.
  • Two months ago, Sixt signed a multi-million euro agreement with BMW Italia to add new BMW models to the fleet. That's 40% increased from last year.

References