2023 Author: Eric Donovan | [email protected]. Last modified: 2023-11-27 05:39
Business for Sixt is going very well: The car rental company was able to double its profit in the previous year to 439 million euros.
This was due on the one hand to the growing demand for rental cars in Germany and even more so abroad, and on the other hand to the sale of the stake in the car sharing company DriveNow to partner BMW. After the takeover, the Munich-based car manufacturer has now merged its mobility offers with those of its competitor Daimler.
For the current year, CEO Erich Sixt announced on Monday a significant increase in sales and stable earnings before taxes.
Rental business continues to grow
The rental business in other European countries and in the USA should continue to grow. However, Sixt has to invest a lot of money in the construction of further stations, in the digital networking of the fleet and in the networking of the rental business with the new Sixt car sharing in one app.
"2018 was the fifth record year in a row," said Sixt. Consolidated sales rose by 12.6 percent to 2.93 billion euros, and earnings before taxes to 535 million. Adjusted for the proceeds from the DriveNow sale, earnings before taxes rose by a good 17 percent to 337 million euros. The company intends to achieve this size again this year. Majority shareholder Sixt intends to increase the dividend for the past year from EUR 1.97 to EUR 2.17 per preferred share. (dpa)
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