Car rental company
Sixt leaves problems with a leap
New cars are cheaper again and a used car problem has been done. Even in the USA it goes up – only at the prices you can stick to Sixt.
The car rental company Sixt has left the used car problems of the past year in the first half of the year. From January to June, the company earned almost 66 million euros after taxes. That was more than two and a half times the weak last year. CFO Franz Weinberger praised the result – especially against the background of a challenging market environment and uncertain times.
A year ago, Sixt suffered from the weak used car prices through which the company took less when reselling its rental cars. In the meantime, however, this problem has been solved. In the first quarter, the last affected vehicles were incurred, says Weinberger. In the unloaded second quarter, the profit was more lavish with a good 78 million euros. Purchasing conditions that have gotten better are also helpful. After the scarcity on the vehicle market, the situation here is better again, explains Weinberger.
Sixt also pays more for insurance
In the insurance area, however, the costs have increased – here the group no longer paid 75, but 92 million euros in the first half of the year. Car insurers have recently increased their bonuses significantly for private customers. The background is higher costs when repairing accident damage. Compared to the total turnover of 1.94 billion euros, the position is rather manageable.
The current world situation also feels Sixt, but without great injuries. In view of the high uncertainty in the market, the fleet in the United States preferred to plan a little more tightly, says Weinberger. Basically, the business is stable there, which is also due to the fact that around two thirds are made directly with Americans. Although sales growth in the United States was below that in Europe in the second quarter, but also the exchange rate effects also contributed to this due to the weak dollar. Basically, as the largest car rental market in the world for Sixt, the United States remains a strategic growth market, as Weinberger emphasizes.
Traditionally covered, the chief of finance stayed with rental car prices. These are extremely difficult to predict, he says. The rent fleet at least grew. In the second quarter, with an average of 197,800 vehicles, it was almost six percent above the value from the same period last year.
dpa
Source: Stern
