News Detail

Sixt Leasing SE: Adjustment of medium-term outlook and announcement of forecast for 2019

• Medium-term outlook: Targeting around 200,000 contracts in the Group's contract portfolio by the end of 2021 with operating revenue of around EUR 650 million and EBT of EUR 40 to 45 million for the 2021 financial year
• Forecast 2019: Slight increase of Group contract portfolio; operating revenue and EBT at around the previous year's levels

Pullach, 13 March 2019 - On the basis of the current multi-year plan which was resolved today with the approval of the Supervisory Board, the Managing Board of Sixt Leasing SE adjusts the medium-term outlook for 2021 and announces its forecast for business development in the current financial year.

Medium-term outlook for 2021

By the end of 2021, the Managing Board now expects the Group's contract portfolio to total around 200,000 contracts. So far, the company had assumed more than 220,000 contracts. The adjustment is due in particular to weaker new leasing business in the past 2018 financial year and changed market expectations in the Online Retail business field. Nevertheless, the company continues to expect very strong growth in the Online Retail and Fleet Management business fields in the medium term. The company now aims to generate consolidated operating revenue of around EUR 650 million in the 2021 financial year. Previously, the Managing Board had assumed a target of around EUR 700 million. With regard to consolidated earnings before taxes (EBT), the Managing Board now expects a figure in the range of EUR 40 to 45 million for the 2021 financial year. The previous target was around EUR 50 million.

Forecast for business development in 2019

For the current 2019 financial year, the Managing Board is forecasting a slight increase of the Group's contract portfolio (as of the end of 2018: 129,700 contracts) as well as consolidated operating revenue (2018: EUR 480.5 million) and consolidated earnings before taxes (EBT) (2018: EUR 30.5 million) both at around the previous year's level. For the first half of 2019, business development is expected to be significantly weaker than in the same period of the previous year as well as the expected business development in the second half of 2019.

Note:

'Consolidated operating revenue' is a non-IFRS figure. Information on the composition of the consolidated operating revenue is available in the Annual Report 2017 of Sixt Leasing SE on page 102 (available under ir.sixt-leasing.com).

In addition to the Group's contract portfolio, consolidated operating revenue and consolidated earnings before taxes (EBT), the company will no longer publish separate targets for the contract portfolio of the individual business fields, consolidated revenue and consolidated earnings before interest, taxes, depreciation and amortisation (EBITDA) and will therefore no longer adhere to the targets published in the past for 2021.

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Contact:
Stefan Kraus
Investor Relations
Email: [email protected]
Tel: +49 89 74444 4518