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Sixt:Quarterly Results/2023 Q1: Difference between revisions
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Return to: [[Earnings Season]] / [[Sixt]] / [[Main Page]] | Return to: [[Earnings Season]] / [[Sixt]] / [[Main Page]] | ||
== Results == | |||
Here is a summary of Sixt Q1 2023 earnings results<ref>https://www.eqs-news.com/news/corporate/sixt-off-to-a-successful-start-in-2023-record-revenue-in-the-first-quarter-positive-forecast-for-the-full-year-confirmed/1815377</ref>; | |||
* Revenue grew 19.7% y/y to EUR 695.1 million, above analysts estimate of EUR 684.86 million (17.9%). | |||
* EBT was EUR 33.3 million within management guidance of between EUR 20-40 million. | |||
* North America and Germany were the biggest growth drivers with each growing their revenue by 21.6% and 21.7%, respectively. | |||
* Average global fleet increased 19% y/y to 149,000 vehicles following relaxation in international supply chains. | |||
* Electric vehicles now accounts for 22% of Sixt's fleet in European countries versus 13% in Q1 2022. | |||
* Sixt maintained its EBT forecast for the whole year which stands at EUR 430 -550 million, which means the lower level is above the pre-Covid level. | |||
* It also maintained its expectations for a significant increase in consolidated revenue in 2023 compared to the previous year (2022: EUR 3.07 billion). | |||
* However, Sixt expects cost increases that began in 2022 to have a full impact in 2023. | |||
“SIXT has gotten off to a successful start to the new year and is well on track. We are also very satisfied with the course of the second quarter so far. In view of the continuing good demand and the positive booking situation with airlines and hotels, we are currently also expecting a positive development for the summer season." CFO, Prof. Dr. Kai Andrejewski said in the statement. | |||
== Estimates == | == Estimates == | ||