Sixt reports strong 2011 performance, but warns on 2012
Sixt has profited from ongoing demand in the Vehicle Rental Business Unit, good progress in its international expansion, and a revival of business in the Leasing Business Unit. The Managing Board has reconfirmed its earlier revenue projections for 2011 as a whole. It assumes that consolidated EBT will considerably exceed last year’s figure.
Erich Sixt, chairman of the Managing Board of Sixt, said: ‘It is already clear that Sixt will generate one of the best profits in its history in 2011. We have carefully played to our market strengths in the first nine months, and consistently assigned margins and profits the priority over volume growth. That strategy has been paying off more and more effectively.’
The outlook for 2012 is less positive though. Sixt continued: ‘Looking toward 2012, we are cautious, because all the experts expect the European economy to slacken significantly. We are readying ourselves for a more difficult year and are well prepared.’