News Detail

Allane SE publishes half-year financial report 2021

• Business development in the first half of 2021 in line with expectations
• Successful further digitalisation of the business model and renaming
• Forecast for the 2021 financial year confirmed

Pullach, 25 August 2021 - Allane SE (former Sixt Leasing SE), a leading provider in online direct sales of new vehicles in Germany as well as a specialist in the management and full-service leasing of large fleets, has developed in line with expectations in the first half of 2021.

Successful further digitalisation and renaming
In the first half of 2021, Allane achieved several milestones in the digitalisation of its business model. Firstly, a new app for fleet leasing customers, an innovative analysis and reporting tool for fleet managers as well as the electronic driver's licence check for company car drivers were launched. In addition, the realignment of the subsidiary autohaus24 as one of the leading online car dealerships for new and used cars in Germany was driven forward and a rebranding of the brand presence was carried out.

The change of name of Sixt Leasing SE to Allane SE resolved by the Annual General Meeting on 29 June 2021 was completed on 5 August 2021. For the time being, however, the Company and its domestic and foreign subsidiaries will initially continue to operate under the familiar brand names "Sixt Leasing", "Sixt Neuwagen", "Sixt Mobility Consulting", "Autohaus24" and "Flottenmeister" vis-à-vis the market and customers. The existing business fields - Online Retail, Fleet Leasing and Fleet Management - will be continued as well. Only the Allane SE Group will operate under the newly created group name Allane Mobility Group in the future. The strategic focus remains on the digitalisation of the business model and the orientation of the organisation towards future national and international growth.

Donglim Shin, CEO of Allane SE: "With the milestones in the digitalisation of our business model in the first half of 2021 and the successful rebranding, we have laid the foundation to continue actively shaping the transformation of mobility, to take advantage of the attractive growth opportunities in this market and to make the Allane Mobility Group the leading multi-brand provider of comprehensive mobility solutions in Europe."

Business development
Business development continued to be affected in particular by the COVID-19 pandemic. The contract portfolio in the Online Retail business field decreased by 4.3 per cent to 37,000 contracts in the period from the end of December 2020 to the end of June 2021. The contract portfolio in the Fleet Leasing business field decreased by 7.1 per cent to 35,100 contracts. In the Fleet Management business unit, the contract portfolio increased by 3.1 per cent to 55,100 contracts. Overall, the Group's contract portfolio in Germany and abroad (excluding franchise and cooperation partners) decreased slightly by 2.1 per cent to 127,200 contracts.

Consolidated revenue decreased by 0.8 per cent during the first half of 2021 to EUR 367.3 million compared to the same period of the previous year. This is mainly attributable to the decrease in operating revenue in the Leasing business unit. Operating revenue, which does not include the proceeds from vehicle sales, decreased by 9.3 per cent to EUR 194.2 million. A major impact on the decline in operating revenue was attributable to the third "lockdown" due to the ongoing COVID-19 pandemic, which, in contrast to the first "lockdown" in the prior-year period, lasted longer throughout the first half of 2021. This third "lockdown" resulted, among other things, in significantly reduced vehicle usage, causing in particular a decline in usage-related revenues, such as fuel revenues and revenue from individual service products. Moreover, leasing revenue (finance rate) decreased compared to the first half-year of 2020 due to the decline in the contract portfolio of the Leasing business unit. In contrast, sales revenue from leasing returns and marketed customer vehicles in Fleet Management increased by 10.8 per cent to EUR 173.1 million. This increase was partly due to the fact that fewer vehicles were sold in the comparable prior-year period as a result of the extensive restrictions on stationary motor vehicle sales during the first "lockdown" caused by the COVID-19 pandemic.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) declined by 10.3 per cent during the first half of 2021 to EUR 95.7 million. Earnings before taxes (EBT) decreased by 8.3 per cent to EUR 2.6 million. The operating return on revenue (EBT/operating revenue) consequently came to 1.4 per cent (H1 2020: 1.3 per cent).

Outlook
Besides the further digitalisation of products, services, and internal processes, Allane is planning to introduce a mobility budget in the Fleet Management business unit in the 2021 financial year among other things. This is intended to give fleet customers' employees the option - as an alternative or supplement to the company car - of using means of transport such as bus, rail, bicycle, car sharing or taxi. Another focus will be on diversifying the customer portfolio in the Fleet Leasing business field with smaller fleets and especially on service quality. Furthermore, in the Online Retail business field the Company intends to explore business opportunities via car dealership channel in addition to its online channel by launching a dedicated leasing portal. The goal is to significantly increase the order volume in new car leasing for private customers.

The Managing Board confirms the outlook published on 24 March 2021. Accordingly, the Managing Board expects a slight increase in the Group contract portfolio compared to the previous year (2020: 129,900 contracts) and consolidated operating revenue in the range of previous year's figure (2020: EUR 423.3 million). With regard to EBT, the Managing Board expects a higher single-digit million euro amount (2020: EUR 9.1 million).

The reason for the cautious forecast for the full year 2021 is, in addition to the operating business development in the 2021 financial year to date, primarily the ongoing COVID-19 situation. In this respect, the Company assumes that the market and business environment will continue to be strongly negatively impacted by the COVID-19 pandemic, but expects a recovery in business development in the second half of 2021. In addition, consolidated earnings will also be burdened in the 2021 financial year by transaction-related costs in connection with the takeover of the Company by HCBE.

The full half-year report as of 30 June 2021 can be downloaded from http://ir.sixt-leasing.com/interim-reports.

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About Allane:

Allane SE based in Pullach near Munich is a leading provider in online direct sales of new vehicles in Germany as well as specialist in management and full-service leasing of large fleets. With tailor-made solutions, the company enables the longer-term mobility of its private and corporate customers.

Private and commercial customers use the online platforms sixt-neuwagen.de and autohaus24.de to lease new vehicles affordably. Corporate customers benefit from the cost-saving leasing of their vehicle fleet and from efficient fleet management.

Allane SE (WKN: A0DPRE / ISIN: DE000A0DPRE6) has been listed in the Regulated Market of the Frankfurt Stock Exchange (Prime Standard) since 7 May 2015. In financial year 2020, the Group generated consolidated revenue of EUR 748 million.

www.allane.com

Contact:

Allane SE
Investor Relations
+49 89 74444 4518
[email protected]

About HCBE:

Hyundai Capital Bank Europe GmbH (HCBE) is the captive financial services provider of Hyundai Motor and KIA. The company is located in Frankfurt am Main. HCBE successfully passed the EU-wide standard bank approval procedure and received the German full-license from the European Central Bank in September 2016. Shareholders of the joint venture are Santander Consumer Bank AG und Hyundai Capital Services Inc.

The Allane Mobility Group in H1 2021 at a glance¹

¹ Rounding differences possible
² Ratio of EBT to operating revenue