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Sixt Group heading toward strong 2011 profits

Sixt Group heading toward strong 2011 profits

Sixt Group has reported what it described as “very satisfying” demand for the third quarter of 2011 with the car rental giant continuing its vigorous business performance from the first half.

For the first nine months of the current year, the international mobility services provider reported consolidated earnings before taxes of €115.7 million, 59 per cent above the figure from the same period last year.

Sixt has profited from ongoing vigorous demand in the Vehicle Rental Business Unit, good progress in its international expansion, and a revival of business in the Leasing Business Unit, the company explained in a statement.

The board has reconfirmed its earlier revenue projections for 2011 as a whole, assuming consolidated EBT will considerably exceed the 2010 figure.

Erich Sixt, chairman of the board of Sixt AG, 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. 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.”

Sixt was recognised as offering the World’s Leading Marketing Innovation by the World Travel Awards in 2010.