News Detail

Sixt Leasing SE adjusts guidance for financial year 2019

• Guidance for Group contract portfolio as of year-end raised, especially due to acquisition of fleet management company Flottenmeister GmbH
• Guidance for consolidated operating revenue und EBT in financial year 2019 adjusted slightly downwards

Pullach, 22 October 2019 - On the basis of an internal analysis of preliminary key figures of the third quarter of 2019 completed today and an updated forecast for full-year 2019, the Managing Board of Sixt Leasing SE adjusts its full-year guidance for the Group's contract portfolio, consolidated operating revenue and consolidated earnings before taxes (EBT).

The Managing Board now expects the Group's contract portfolio at year-end to significantly increase compared to the previous year (year-end 2018: 129,700 contracts). So far, only a slight increase of the Group's contract portfolio has been forecasted. The adjustment takes into account the agreed acquisition of all shares of Flottenmeister GmbH by Sixt Mobility Consulting GmbH, a wholly owned subsidiary of Sixt Leasing SE. The independent fleet manager, which is also based in Pullach, near Munich, is managing over 7,000 company cars as of the end of September 2019. Sixt Mobility Consulting is thus further expanding its market position in Germany.

Consolidated operating revenue in financial year 2019 is now expected in the range of EUR 465 million (2018: EUR 480.5 million). So far, the Managing Board has assumed the consolidated operating revenue to approximately reach the previous year's level. The correction is essentially attributable to a weaker than expected business performance especially in the Fleet Leasing business field.

In terms of consolidated earnings before taxes (EBT) in the financial year 2019, the Managing Board now expects a figure in the range of EUR 29 million. So far, EBT was expected to approximately reach the previous year's level (2018: EUR 30.5 million). The adjustment is particularly due to lower than expected proceeds from remarketing of car returns from the Fleet Leasing business in Q3.

The Group Quarterly Statement as of 30 September 2019 will be published on 12 November 2019, as planned.

Note: 'Consolidated operating revenue' is a non-IFRS figure. Information on the composition of consolidated operating revenue is available in the Annual Report 2018 of Sixt Leasing SE on page 100 (available under ir.sixt-leasing.com).