Sixt records EUR 28 million in Q3

Germany’s biggest car hire company, Sixt Group, has recorded a high level of stable demand in both its vehicle lending and leasing business units in its third quarter of of 2009, in spite of the ongoing difficult economic conditions.

The group also saw further improvements in earnings against the first two quarters of this year, with a quarterly profit up by 8.6 percent on the previous year’s figure.

Chairman of the Managing Board of Sixt, Erich Sixt, said the satisfactory demand in the first nine months showed the need for mobility among companies and private individuals is not declining, even in the economic crisis.

He went on to add that Sixt was profiting more and more from the positive effects of their cautious rental fleet planning.  In line with this, Sixt took a major step forward in its earnings situation in the third quarter, which makes them more confident that they can achieve their earnings target for the full year of 2009.

From January to September this year, Sixt added a total of 96,400 vehicles (prior-year period 120,900) with a total value of EUR 2.20 billion, to its rental and leasing fleet, which represents a decline of 20 per cent in the number of vehicles and 21 per cent in the investment volume.

As of the 30th of September, the Sixt Group’s equity amounted to EUR 475 million, after EUR 493 million compared with the 31st of December 2008.