SIXT Raises Forecast for Financial Year 2022 Significantly

Based on the preliminary figures currently available for August and expectations for the coming months of 2022, the Management Board of Sixt SE raised its previous forecast for financial year 2022 significantly today and now expects consolidated revenue for financial year 2022 to be between EUR 2.8 billion and EUR 3.1 billion (previously: significantly above EUR 2.28 billion) and earnings before taxes (EBT) for Sixt Group in the range between EUR 500 million and EUR 550 million (most recently: at the upper end of the forecast range of EUR 380 million to EUR 480 million).

The current average analyst estimate for the consolidated revenue of Sixt Group for 2022 is EUR 2.87 billion and thus within the raised forecast, says the company. The projected EBT range is above the average current analyst estimate of EUR 489 million.

The reasons for this positive development are in particular how the business developed in August as well as the emerging development for September, both of which are significantly above previous expectations. The key factors here were, in particular, the significantly higher than expected strong demand in Europe and the US, the very positive market price level, which is above the historically high levels of the previous year, and the development of the exchange rate for the US dollar.

The updated forecast for financial year 2022 was prepared by Sixt on the basis of the current market environment and under the assumption that there are significant uncertainties for the last quarter of financial year 2022 in view of the numerous impending macroeconomic difficulties in Europe and the US.

Published by:

Dr. Oliver Everling

Independent since 1998, he is Managing Director of RATING EVIDENCE GmbH. As visiting professor of Capital University of Economics and Business in Beijing, former chairman of the supervisory board of a rating agency, advisory board member, advisor, member of rating committees, chairman of ISO-TC Rating Services, author or publisher of books and a magazine, Independent Non-Executive Director under EU Regulation on Credit Rating Agencies, he has been or is involved in ratings from a variety of perspectives. Previously, he was for 6 years department director at Dresdner Bank and, until 1993, managing director of the Projektgesellschaft Rating mbH after a doctorate at the banking and stock exchange seminar of the University of Cologne.

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