Sixt reports profits of EUR 28 million in third quarter

Car rental giant Sixt has announced that the group has recorded a high level of stable demand in both vehicle rentals and leasing business units in the third quarter of 2009 in spite of the ongoing tough economic climate.

The company witnessed a further clear improvement in earnings compared with the first two quarters, at EUR 23 million, a quarterly profit up 8.6 per cent on last years figures.  The total consolidated profit of the group was EUR 28.1 million in the third quarter which approached the figure for the previous yearly quarter of EUR 30.1.  The group also recorded a positive nine-month EBT, with the upward trend contributed to by the positive effects of a reduced rental fleet and strict cost management.

Sixt saw consolidated revenue in the third quarter down 11.3 per cent year-on-year but was up 5.1 per cent on Q2 and up 13.3 per cent on Q1 this year.

Chairman of the managing board of Sixt AG, Erich Sixt, said that the satisfactory demand in the first nine months showed the need for mobility among companies and private individuals was not declining, even given the economic crisis.

He added that the company was profiting more and more from the positive effects of their cautious rental fleet planning.

Managing director of Sixt UK, Ian Lawrence said that the company was delighted again to achieve such high results in the economic climate, and the company always strives to provide customers with top quality vehicle choice, customer service and value for money.