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03/13/2019

Sixt Leasing SE achieves record revenue and increases earnings in 2018 financial year

DGAP-News: Sixt Leasing SE / Key word(s): Preliminary Results/Forecast

13.03.2019 / 20:30
The issuer is solely responsible for the content of this announcement.


Sixt Leasing SE achieves record revenue and increases earnings in 2018 financial year

  • Group contract portfolio with around 130,000 contracts roughly at previous year's level
  • Consolidated operating revenue increases by almost six per cent to more than EUR 480 million
  • Consolidated earnings before taxes (EBT) rise by almost three per cent to more than EUR 30 million
  • Managing Board makes proposal to Supervisory Board of stable dividend of EUR 0.48 per share
  • Outlook for 2019: Slight increase in Group contract portfolio as well as stable consolidated operating revenue and EBT expected
  • CEO Michael Ruhl: "In 2019, we are strengthening our focus on the topic of digitisation in order to further optimise our product range and to make our internal and customer related processes more efficient."

Pullach, 13 March 2019 - Sixt Leasing SE, market leader in online direct sales of new vehicles in Germany as well as specialist in the management and full-service leasing of large fleets, generated record revenue and increased its earnings in the 2018 financial year, according to preliminary calculations (IFRS). The Group's contract portfolio remained almost stable compared to the previous year, but is expected to increase again slightly in 2019. In the mid-term, the Managing Board expects significant growth, also for revenue and earnings.

Business performance
The contract portfolio in the Online Retail business field decreased by 1.6 per cent to 44,700 contracts in 2018, remaining roughly on a par at the level of the previous year. This development was influenced by two factors in particular. Firstly, new business was weaker than in the previous year primarily due to the slow implementation of the new WLTP test procedure and the related tight delivery situation for certain manufacturers. And secondly, the number of expired contracts increased sharply in the 2018 financial year due to strong contract growth over the past years.

The contract portfolio in the Fleet Management business unit increased stronger than expected by 6.6 per cent to 42,000 contracts.

The contract portfolio in the Fleet Leasing business field saw a decrease of 10.5 per cent to 43,000 contracts. This was primarily due to the unexpected loss of a volume customer and the active risk management announced at the beginning of the year. Within this initiative, the potential residual value risk posed by diesel vehicles across the total new leasing business was lowered successfully. The portfolio of diesel vehicles in Germany with the Euro 5 standard or lower without buyback agreement was thereby reduced to just approximately 2,800 vehicles as at 31 December 2018. This equates to a decline of approximately 50 per cent in comparison to the corresponding previous year's figure (31 December 2017: around 5,600 vehicles).

Overall, the Group's contract portfolio in Germany and abroad (excluding franchise and cooperation partners) decreased by 2.4 per cent to 129,700 contracts, remaining roughly at the level of the previous year.

Consolidated revenue climbed by 8.3 per cent year-on-year to a record EUR 805.8 million, in particular due to the expansion of the contract portfolio in the Online Retail business field in the 2017 financial year. Consolidated operating revenue (excluding sales revenue) increased slightly stronger than expected by 5.7 per cent to EUR 480.5 million. Sales revenue from leasing returns and marketed customer vehicles in Fleet Management achieved above-average growth of 12.3 per cent to EUR 325.3 million. This was mainly due to a higher number of vehicle returns in the Online Retail business field.

Consolidated earnings before interest, taxes, depreciation and amortisation (EBITDA) increased slightly in the 2018 financial year by 2.8 per cent to EUR 240.8 million. The financial result increased significantly year-on-year by EUR 3.0 million to EUR -13.2 million. Interest expenses were reduced significantly especially as a result of the repayment of the last two instalments of the Core Loan to Sixt SE in the amount of EUR 300 million in June 2017 and EUR 190 million in June 2018.

Consolidated earnings before taxes (EBT) rose by 2.8 per cent to EUR 30.5 million in the 2018 financial year, thereby roughly matching the previous year's figure as forecasted. Operating return on revenue remained relatively stable at 6.4 per cent (2017: 6.5 per cent). Consolidated net profit rose by 5.1 per cent to EUR 22.0 million.

Subject to the approval of the Supervisory Board, the Managing Board plans to propose a dividend of EUR 0.48 per share for the 2018 financial year to the Annual General Meeting on 3 June 2019. This proposal represents a pay-out ratio of around 45 per cent of consolidated net profit and a dividend yield of 4.2 per cent based on the closing price at year-end 2018. The ratio is therefore in the middle of the communicated target range of 30 to 60 per cent of the consolidated net profit.

Michael Ruhl, CEO of Sixt Leasing SE: "In 2018, we have made our portfolio fit for the future and thereby improved our risk-return profile significantly. In 2019, we intend to get back on our growth path and to expand the product portfolio and make it more flexible via various digitisation initiatives. At the same time, we plan to leverage cost potentials and realise efficiency enhancements through process optimisations."

Due to the recent noticeable change of the market environment and the customer preferences especially in Online Retail, Sixt Leasing is now increasingly focussing on supplementing its offerings through products and services which can be used to target further customer groups. On the basis of evolved strengths and long-time experience in the early development of customer-oriented solutions, the company is very well positioned to benefit disproportionally from the expected continuing strong market growth.

Outlook
For the current 2019 financial year, the Managing Board is forecasting a slight increase of the Group's contract portfolio as well as consolidated operating revenue and EBT both at around the previous year's level. For the first half of 2019, business development is expected to be significantly weaker than in the same period of the previous year as well as the expected business development in the second half of 2019.

On the basis of the present market and business development, the Managing Board has adjusted the medium-term growth targets. Thus, it is expecting an increase of the Group's contract portfolio to around 200,000 contracts until the end of the 2021 financial year (previously: more than 220,000 contracts). The company hence still expects very strong growth in the Online Retail and Fleet Management business fields in the medium term. Regarding consolidated operating revenue, the company expects a significant increase to around EUR 650 million by the financial year 2021 (previously: around EUR 700 million). EBT is also expected to increase significantly to a figure in the range of EUR 40 to 45 million by 2021 (previously: EUR 50 million).


About Sixt Leasing:
Sixt Leasing SE based in Pullach near Munich is market leader in online direct sales of new vehicles in Germany as well as specialist in management and full-service leasing of large fleets. With tailor-made solutions, the company enables the longer-term mobility of its private and corporate customers.

Private and commercial customers use the online platforms sixt-neuwagen.de and autohaus24.de to lease new vehicles affordably. Corporate customers benefit from the cost-saving leasing of their vehicle fleet and from efficient fleet management.

Sixt Leasing SE (WKN: A0DPRE / ISIN: DE000A0DPRE6) has been listed in the Regulated Market of the Frankfurt Stock Exchange (Prime Standard) since 7 May 2015. In fiscal year 2018, the Group generated consolidated revenue of EUR 806 million.

www.sixt-leasing.com

Contact:
Sixt Leasing SE
Investor Relations
Stefan Kraus
+49 89 74444 4518
ir@sixt-leasing.com


Note:
All fiscal year 2018 figures in this release are preliminary and subject to possible change. The final and audited 2018 consolidated annual financial statements for Sixt Leasing Group will be published on 16 April 2019.


The Sixt Leasing Group in 2018 at a glance1

       
Revenue development
in EUR million
2018
 
2017
 
Change
in %
     Operating revenue 480.5 454.4 5.7
     Sales revenue 325.3 289.6 12.3
Consolidated revenue 805.8 744.0 8.3
     Thereof Leasing business unit 705.0 637.8 10.5
          Thereof leasing revenue (finance rate) 235.2 227.6 3.3
          Thereof other revenue from leasing business 190.4 179.0 6.4
          Thereof sales revenue 279.4 231.2 20.8
     Thereof Fleet Management business unit 100.8 106.1 -5.0
          Thereof fleet management revenue 54.9 47.8 14.9
          Thereof sales revenue 46.0 58.4 -21.2
       
Earnings development
in EUR million
2018
 
2017
 
Change
in %
Fleet expenses and cost of lease assets -508.0 -460.7 10.3
Personnel expenses -36.5 -33.0 10.4
Net other operating income/expense -20.4 -16.0 28.0
Earnings before interest, taxes, depreciation and amortisation (EBITDA) 240.8 234.3 2.8
Depreciation and amortisation expense -197.1 -188.3 4.7
Net finance costs -13.2 -16.2 -18.6
Earnings before taxes (EBT) 30.5 29.7 2.8
     Thereof Leasing business unit 26.1 25.6 2.2
     Thereof Fleet Management business unit 4.4 4.1 6.6
Operating return on revenue (in %)2 6.4 6.5 -0.1 points
Income tax expense -8.6 -8.8 -2.6
Consolidated profit 22.0 20.9 5.1
Earnings per share (in EUR) 1.07 1.01 -
       
Contract portfolio
 
31 Dec 2018 31 Dec 2017 Change
in %
Group contract portfolio 129,700 132,900 -2.4
     Thereof Online Retail business field 44,700 45,400 -1.6
     Thereof Fleet Leasing business field 43,000 48,100 -10.5
     Thereof Fleet Management business unit 42,000 39,400 6.6
       
Balance sheet figures
in EUR million
31 Dec 2018 31 Dec 2017 Change
in %
Total equity and liabilities 1,392.7 1,442.8 -3.5
Lease assets 1,204.4 1,219.2 -1.2
Equity 216.8 205.1 5.7
Equity ratio (in %) 15.6 14.2 1.4 points
       
Cash flow
in EUR million
2018
 
2017
 
Change
in %
Gross Cash flow 247.8 216.7 14.3
Investments in lease assets 475.7 619.2 -23.2
       

1 Preliminary figures according to IFRS; rounding differences possible
2 Ratio of EBT to operating revenue



13.03.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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03/13/2019

Sixt Leasing SE: Sixt Leasing SE: Adjustment of medium-term outlook and announcement of forecast for 2019

Sixt Leasing SE / Key word(s): Change in Forecast/Forecast
Sixt Leasing SE: Sixt Leasing SE: Adjustment of medium-term outlook and announcement of forecast for 2019

13-March-2019 / 20:25 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


Sixt Leasing SE: Adjustment of medium-term outlook and announcement of forecast for 2019

  • Medium-term outlook: Targeting around 200,000 contracts in the Group's contract portfolio by the end of 2021 with operating revenue of around EUR 650 million and EBT of EUR 40 to 45 million for the 2021 financial year
  • Forecast 2019: Slight increase of Group contract portfolio; operating revenue and EBT at around the previous year's levels
Pullach, 13 March 2019 - On the basis of the current multi-year plan which was resolved today with the approval of the Supervisory Board, the Managing Board of Sixt Leasing SE adjusts the medium-term outlook for 2021 and announces its forecast for business development in the current financial year.

Medium-term outlook for 2021

By the end of 2021, the Managing Board now expects the Group's contract portfolio to total around 200,000 contracts. So far, the company had assumed more than 220,000 contracts. The adjustment is due in particular to weaker new leasing business in the past 2018 financial year and changed market expectations in the Online Retail business field. Nevertheless, the company continues to expect very strong growth in the Online Retail and Fleet Management business fields in the medium term. The company now aims to generate consolidated operating revenue of around EUR 650 million in the 2021 financial year. Previously, the Managing Board had assumed a target of around EUR 700 million. With regard to consolidated earnings before taxes (EBT), the Managing Board now expects a figure in the range of EUR 40 to 45 million for the 2021 financial year. The previous target was around EUR 50 million.

Forecast for business development in 2019

For the current 2019 financial year, the Managing Board is forecasting a slight increase of the Group's contract portfolio (as of the end of 2018: 129,700 contracts) as well as consolidated operating revenue (2018: EUR 480.5 million) and consolidated earnings before taxes (EBT) (2018: EUR 30.5 million) both at around the previous year's level. For the first half of 2019, business development is expected to be significantly weaker than in the same period of the previous year as well as the expected business development in the second half of 2019.

Note:

'Consolidated operating revenue' is a non-IFRS figure. Information on the composition of the consolidated operating revenue is available in the Annual Report 2017 of Sixt Leasing SE on page 102 (available under ir.sixt-leasing.com).

In addition to the Group's contract portfolio, consolidated operating revenue and consolidated earnings before taxes (EBT), the company will no longer publish separate targets for the contract portfolio of the individual business fields, consolidated revenue and consolidated earnings before interest, taxes, depreciation and amortisation (EBITDA) and will therefore no longer adhere to the targets published in the past for 2021.

--
Contact:
Stefan Kraus
Investor Relations
Email: ir@sixt-leasing.com
Tel: +49 89 74444 4518

13-March-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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01/31/2019

Sixt Leasing SE: Speed up and take off - Sixt Neuwagen launches joint promotion with Miles & More

DGAP-News: Sixt Leasing SE / Key word(s): Alliance

31.01.2019 / 10:10
The issuer is solely responsible for the content of this announcement.


Sixt Leasing SE: Speed up and take off - Sixt Neuwagen launches joint promotion with Miles & More

  • 15,000 award miles for Miles & More members who order an SUV from Sixt Neuwagen
  • Attractive SUVs from just EUR 139 per month
  • Promotion running from 1 to 28 February 2019
  • Dr Felix Frank: "Bargain hunters always stay mobile, be it on the road or in the air."

Pullach, 31 January 2019 - Sixt Leasing SE, market leader in online direct sales of new vehicles in Germany as well as specialist in the management and full-service leasing of large fleets, is launching a four-week promotion with Miles & More tomorrow: From February 1 to February 28, 2019, Miles & More members will receive an additional 15,000 award miles from Sixt Neuwagen when they order an SUV from https://www.sixt-neuwagen.de/milesandmore as a private customer.* Thereby, collectors of miles can either choose a quickly available stock vehicle or configure their desired SUV. Additionally, if they opt for a Vario-financing contract, they can even buy the vehicle at a predefined price at the end of the contractual term.

At the start of the promotion, six brands will be available: VW, Toyota, Land Rover, Peugeot, Kia and Mazda. The most affordable models, the Peugeot 2008 and the Mazda CX-3, are available from just EUR 139 per month.** Over the course of the promotion, brands and prices may vary.

Dr Felix Frank, Managing Director Online Retail at Sixt Leasing SE: "In February, bargain hunters do not only benefit from our attractive rates for popular SUVs, they also collect award miles from Miles & More. The 15,000 miles can be used on the next Lufthansa flight, for example, in keeping with our motto: Always stay mobile, be it on the road or in the air."

In order to snap up the award miles, Miles & More members select an SUV deal on https://www.sixt-neuwagen.de/milesandmore. Afterwards, they enter the code 'MM2019' and send a copy of their Miles & More service card to Sixt Neuwagen. Then, the new SUV can even be delivered to their front door.


---
* Offer valid while stocks last, prices subject to change. More terms and conditions of participation on https://www.sixt-neuwagen.de/milesandmore.

** The price is valid for a Vario-financing contract without upfront payment and with final payment. For further details on financing, such as net loan amount, annual percentage rate and borrowing rate, please refer to the information on the website https://www.sixt-neuwagen.de/milesandmore

---

About Sixt Leasing:
Sixt Leasing SE based in Pullach near Munich is market leader in online direct sales of new vehicles in Germany as well as specialist in management and full-service leasing of large fleets. With tailor-made solutions, the company enables the longer-term mobility of its private and corporate customers.

Private and commercial customers use the online platforms sixt-neuwagen.de and autohaus24.de to lease new vehicles affordably. Corporate customers benefit from the cost-saving leasing of their vehicle fleet and from efficient fleet management.

Sixt Leasing SE (WKN: A0DPRE / ISIN: DE000A0DPRE6) has been listed in the Regulated Market of the Frankfurt Stock Exchange (Prime Standard) since 7 May 2015. In fiscal year 2017, the Group generated consolidated revenue of EUR 744 million.
www.sixt-leasing.com


Contact:
Sixt Leasing SE
Investor Relations
Stefan Kraus
+49 89 74444 4518
ir@sixt-leasing.com



31.01.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de



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01/23/2019

​Sixt Leasing SE: Consolidated operating revenue of fiscal year 2018 increases by 5.7 per cent to EUR 480.5 million based on preliminary figures - Earnings development in line with expectations

Sixt Leasing SE / Key word(s): Annual Results/Preliminary Results
​Sixt Leasing SE: Consolidated operating revenue of fiscal year 2018 increases by 5.7 per cent to EUR 480.5 million based on preliminary figures - Earnings development in line with expectations

23-Jan-2019 / 18:12 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


Sixt Leasing SE: Consolidated operating revenue of fiscal year 2018 increases by 5.7 per cent to EUR 480.5 million based on preliminary figures - Earnings development in line with expectations


Pullach, 23 January 2019 - After internal analysis of preliminary key figures of the fiscal year 2018 completed today, consolidated revenue of the Sixt Leasing Group increased by 5.7 per cent compared to the previous year to EUR 480.5 million (2017: EUR 454.4 million). So far, the Managing Board of Sixt Leasing SE expected a slight increase. The slightly higher than expected increase of operating revenue is, among others, due to higher revenue from resold fuels.

Consolidated revenue in the fiscal year 2018 rose to EUR 805.8 million (2017: EUR 744.0 million). Earnings before interest, taxes, depreciation and amortisation (EBITDA) improved slightly to EUR 240.8 million (2017: EUR 234.3 million). As expected, earnings before taxes (EBT) remained at around the previous year's level, totalling EUR 30.5 million (2017: EUR 29.7 million). Operating return on revenue amounted to 6.4 per cent und was thus slightly above the long-term target of 6.0 per cent (2017: 6.5 per cent).

The contract portfolio of the Sixt Leasing Group (without franchise and cooperation partners) as of 31 December 2018 reached 129,700 contracts and thus, as expected, remained at around the previous year's level (31 December 2017: 132,900 contracts).

In the Online Retail business field, a little bit over 10,000 new contracts were concluded in the fiscal year 2018 (2017: around 12,000 new contracts adjusted by the contract conclusions from the 1&1 campaign). The guidance was at 10,000-12,000 new contracts. Hence, the contract portfolio of the Online Retail business field as of 31 December 2018 totalled 44,700 contracts (31 December 2017: 45,400 contracts).

In the Fleet Leasing business field, as expected, the contract portfolio as of 31 December 2018 declined to 43,000 contracts (31 December 2017: 48,100 contracts).

The contract portfolio of the Fleet Management business unit performed better than expected and rose by 6.6 per cent to 42,000 contracts due to a strong fourth quarter (31 December 2017: 39,400 contracts). The Company had only expected a slight increase here.

All information in this release is based on still preliminary key figures on the business development in the 2018 fiscal year. The complete set of preliminary figures will be published as planned on 14 March 2019.

Note: 'Consolidated operating revenue' and 'operating return on revenue' are non-IFRS figures. Information on the composition of the Group's operating revenue and the calculation of the operating return on revenue are available in the Annual Report 2017 of Sixt Leasing SE on page 100 (available under ir.sixt-leasing.com).

--
Contact:
Stefan Kraus
Investor Relations
Email: ir@sixt-leasing.com
Tel: +49 89 74444 4518

23-Jan-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de



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01/14/2019

Sixt Leasing starts exclusive fleet leasing cooperation with Iberofleeting in Spain and Portugal

DGAP-News: Sixt Leasing SE / Key word(s): Alliance

14.01.2019 / 09:30
The issuer is solely responsible for the content of this announcement.


Sixt Leasing starts exclusive fleet leasing cooperation with Iberofleeting in Spain and Portugal
 

Pullach, 14 January 2019 - Sixt Leasing SE, market leader in online direct sales of new vehicles in Germany as well as specialist in the management and full-service leasing of large fleets, is starting an exclusive cooperation with Iberofleeting in Spain and Portugal following a successful year-long trial phase. Iberofleeting has more than 20 years of experience in fleet leasing as a manufacturer- and bank-independent provider.

In the context of the cooperation, both companies will forward fleet customers to each other. Accordingly, Iberofleeting customers who operate fleets in Germany or any of the other around 30 countries in the Sixt Leasing network will then be able to make use of the Sixt Leasing offering. In return, Sixt Leasing customers with fleets in Spain and Portugal will be able to take advantage of Iberofleeting services.

Michael Ruhl, CEO of Sixt Leasing SE: "Through the cooperation with Iberofleeting, we strengthen our fleet leasing business with international customers and, at the same time, offer our existing customers with fleets in Spain and Portugal a partner who can provide a high-quality service locally."

Thanks to the agreement, Sixt Leasing customers enjoy the same high quality of service with Iberofleeting that they are used to from Sixt Leasing. The cooperation is an exclusive arrangement: Iberofleeting is the only cooperation partner of Sixt Leasing in Spain and Portugal. Likewise, Sixt Leasing is the only cooperation partner of Iberofleeting in the Sixt Leasing network.
 

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About Sixt Leasing:
Sixt Leasing SE based in Pullach near Munich is market leader in online direct sales of new vehicles in Germany as well as specialist in management and full-service leasing of large fleets. With tailor-made solutions, the company enables the longer-term mobility of its private and corporate customers.

Private and commercial customers use the online platforms sixt-neuwagen.de and autohaus24.de to lease new vehicles affordably. Corporate customers benefit from the cost-saving leasing of their vehicle fleet and from efficient fleet management.

Sixt Leasing SE (WKN: A0DPRE / ISIN: DE000A0DPRE6) has been listed in the Regulated Market of the Frankfurt Stock Exchange (Prime Standard) since 7 May 2015. In fiscal year 2017, the Group generated consolidated revenue of EUR 744 million.
www.sixt-leasing.com

Contact:
Sixt Leasing SE
Corporate Communications
Stefan Kraus
+49 89 74444 4723
pr@sixt-leasing.com



14.01.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de



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11/14/2018

Sixt Leasing SE increases revenue and earnings in the first nine months of 2018

DGAP-News: Sixt Leasing SE / Key word(s): 9-month figures/Quarterly / Interim Statement

14.11.2018 / 07:31
The issuer is solely responsible for the content of this announcement.


Sixt Leasing SE increases revenue and earnings in the first nine months of 2018

  • Revenue increases by more than eight per cent to over EUR 600 million
  • EBT increases by 12.3 per cent to EUR 23.4 million compared to the same period last year that was burdened by special effects
  • Potential residual value risk from diesel vehicles significantly reduced
  • Managing Board confirms targets for 2018 that were adjusted in September

Pullach, 14 November 2018 - Sixt Leasing SE, market leader in the online sales of new vehicles and specialist in the management and full-service leasing of large fleets, has increased its revenue and earnings before taxes (EBT) in the first nine months of the 2018 financial year. The contract portfolio was approximately at the previous year's level, while the potential residual value risk from diesel vehicles without buyback agreement were reduced significantly. The Managing Board confirms the forecast for the full-year 2018 that was adjusted in September.

The contract portfolio in the Online Retail business field increased by 2.3 per cent to 46,500 contracts in the period from the end of December to the end of September. In the Fleet Management business unit, the contract portfolio increased as well by 3.3 per cent to 40,700 contracts. The contract portfolio in the Fleet Leasing business field saw a reduction of 8.2 per cent to 44,100 contracts. This was in particular due to the active risk management as part of the strategy programme DRIVE>2021 to reduce the potential residual value risk from diesel vehicles without buyback agreement and the drop-out of a volume customer. Overall, the Group's contract portfolio in Germany and abroad (excluding franchise and cooperation partners) was approximately at the previous year's level, decreasing by 1.2 per cent to 131,300 contracts.

Björn Waldow, CFO of Sixt Leasing SE: "In the first nine months of the 2018 financial year, we successfully pushed ahead with the implementation of our strategy programme DRIVE>2021, particularly with regard to the active risk management for older diesel vehicles, and held our ground well despite the ongoing diesel debate. We are also making good progress in digitalisation and preparing for internationalisation."

Consolidated revenue climbed year-on-year by 8.5 per cent to EUR 600.1 million, in particular due to the expansion of the contract portfolio in the Online Retail business field in the 2017 financial year. The Group's operating revenue (excluding sales revenues) increased by 6.8 per cent to EUR 358.0 million. Sales revenues from leasing returns and marketed customer vehicles rose disproportionately by 11.2 per cent to EUR 242.1 million. This was mainly due to a higher number of vehicle returns in the Online Retail business field.

Consolidated earnings before interest, taxes, depreciation and amortisation (EBITDA) increased in the first nine months by 4.0 per cent to EUR 181.3 million. The financial result improved substantially by EUR 2.8 million to EUR -10.3 million. Interest expenses were reduced significantly especially as a result of the repayment of the last two instalments of the Core Loan to Sixt SE in the amount of EUR 300 million in June 2017 and EUR 190 million in June 2018.

Consolidated earnings before taxes (EBT) increased by 12.3 per cent to EUR 23.4 million in the first nine months of 2018 compared to the same period of the previous year that was burdened by special effects. Especially additional risk provisions for leasing vehicles have been recorded in the third quarter of 2017. The operating return on revenue improved by 0.3 percentage points to 6.5 per cent, remaining clearly above the target figure of 6.0 per cent. Consolidated net profit rose by 16.0 per cent to EUR 17.8 million.

The equity ratio amounted to 14.9 percent at the end of September 2018 and was thus 0.7 percentage points above the ratio at the end of 2017 despite the dividend payment of EUR 9.9 million in June. Gross cash flow rose by 10.5 per cent to EUR 174.5 million compared with the first nine months of 2017. At EUR 386.9 million, investments in lease assets were 10.9 per cent below the level of the same period of the previous year.

Active risk management
The potential residual value risk from diesel vehicles was reduced significantly in the first three quarters of 2018 as part of the strategy programme DRIVE>2021. In the period from January to September 2018, the share of new contracts for diesel vehicles without buyback agreement in Germany was just 15 per cent. In the fourth quarter of 2017, this figure was still at 28 per cent. Hence, Sixt Leasing SE has reached its self-defined target of around 15 per cent for the full-year 2018 already after nine months.

With the new WLTP test procedure, on 1 September 2018 stricter emission guidelines for light vehicles have entered into force. As a result, new passenger car registrations are now only permitted for the latest generations of Euro 6 diesel vehicles with significantly lower emission levels. The consequent introduction of stricter regulations and the changed framework conditions in this respect enable Sixt Leasing now to make risk management for diesel vehicles more flexible again.

Furthermore, since the start of the year, the portfolio of diesel vehicles with the Euro 5 standard and lower in Germany without buyback agreement has continued to decline strongly. Thus, the number of these vehicles on the balance sheet decreased by a good 40 per cent to only around 3,400 vehicles as of 30 September 2018 compared to the end of 2017. Since the start of 2016, in total nearly 10,000 diesel vehicles without buyback agreement with the Euro 4 and 5 standard have been sold successfully.

Outlook
For the 2018 financial year, the Managing Board expects, in line with the forecast adjusted in September, a slight increase in consolidated operating revenue and EBITDA as well as an EBT and a Group's contract portfolio approximately at the previous year's level. The target for the operating return on revenue remains unchanged at 6.0 per cent.

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The quarterly report of the Sixt Leasing Group as of 30 September 2018 can be downloaded from http://ir.sixt-leasing.com/interim-reports.

About Sixt Leasing:
Sixt Leasing SE (WKN: A0DPRE / ISIN: DE000A0DPRE6) based in Pullach near Munich is market leader in online sales of new vehicles as well as specialist in management and full-service leasing of large fleets. With tailor-made solutions, the company enables the longer-term mobility of its private and corporate customers.

Private and commercial customers use the online platforms sixt-neuwagen.de and autohaus24.de to lease new vehicles affordably. Corporate customers benefit from the cost-saving leasing of their vehicle fleet and from efficient fleet management.

Sixt Leasing SE has been listed in the Regulated Market of the Frankfurt Stock Exchange (Prime Standard) since 7 May 2015. In fiscal year 2017, the Group generated consolidated revenue of EUR 744 million.
www.sixt-leasing.com

Contact:
Sixt Leasing SE
Investor Relations
Stefan Kraus
+49 89 74444 4518
ir@sixt-leasing.com


The Sixt Leasing Group in 9M 2018 at a glance1
 

Revenue development
in EUR million
9M
2018
9M
2017
Change
in %
Q3
2018
Q3
2017
Change
in %
Consolidated revenue 600.1 553.0 8.5 205.8 184.3 11.7
Thereof Leasing business unit 524.7 476.2 10.2 179.7 157.9 13.8
Thereof leasing revenue (finance rate) 176.7 169.9 4.0 59.5 57.1 4.4
Thereof other revenue from leasing business 141.7 129.8 9.2 48.2 43.1 11.9
Thereof sales revenue 206.3 176.4 16.9 71.9 57.8 24.5
Thereof Fleet Management business unit 75.4 76.8 -1.9 26.2 26.3 -0.7
Thereof fleet management revenue 39.6 35.5 11.6 14.2 11.4 24.3
Thereof sales revenue 35.8 41.4 -13.5 12.0 14.9 -19.7
             
Earnings development
in EUR million
9M
2018
9M
2017
Change
in %
Q3
2018
Q3
2017
Change
in %
Fleet expenses and cost of lease assets -378.0 -341.7 10.6 -131.7 -114.1 15.4
Personnel expenses -27.2 -24.6 10.5 -8.5 -7.8 9.1
Net other operating income/expense -13.6 -12.4 9.1 -5.3 -5.0 5.4
Earnings before interest, taxes, depreciation and amortisation (EBITDA) 181.3 174.3 4.0 60.3 57.3 5.3
Thereof Leasing business unit 177.8 171.3 3.8 59.0 56.3 4.8
Thereof Fleet Management business unit 3.6 3.0 19.9 1.3 1.0 31.6
Depreciation and amortisation expense -147.7 -140.4 5.2 -49.6 -49.7 -0.2
Net finance costs -10.3 -13.1 -21.5 -3.1 -3.5 -10.6
Earnings before taxes (EBT) 23.4 20.8 12.3 7.5 4.0 86.8
Thereof Leasing business unit 19.9 17.9 10.6 6.2 3.1 101.8
Thereof Fleet Management business unit 3.5 2.9 22.9 1.3 1.0 38.2
Operating return on revenue (in %)2 6.5 6.2 0.3 pp 6.2 3.6 2.6 pp
Income tax expense -5.5 -5.4 2.0 -1.2 -1.1 7.5
Consolidated profit 17.8 15.4 16.0 6.3 2.9 118.0
Earnings per share (in EUR) 0.87 0.75 -      
             
Contract portfolio
 
30 Sep 2018 31 Dec 2017 Change
in %
     
Contract portfolio Group 131,300 132,900 -1.2      
Thereof Online Retail business field 46,500 45,400 2.3      
Thereof Fleet Leasing business field 44,100 48,100 -8.2      
Thereof Fleet Management business unit 40,700 39,400 3.3      
             
Balance sheet figures
in EUR million
30 Sep 2018 31 Dec 2017 Change
in %
     
Total equity and liabilities 1,435.4 1,442.8 -0.5      
Lease assets 1,253.1 1,219.2 2.8      
Equity 213.4 205.1 4.0      
Equity ratio (in %) 14.9 14.2 0.7 pp      
             
Cash Flow
in EUR million
9M
2018
9M
2017
Change
in %
Q3
2018
Q3
2017
Change
in %
Gross Cash flow 174.5 157.9 10.5 60.4 53.7 12.5
Investments in lease assets 386.9 434.4 -10.9 106.0 153.1 -30.8

---
1 Figures according to IFRS; rounding differences possible
2 Ratio EBT to operating revenue (=consolidated revenue without sales revenue)



14.11.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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10/30/2018

Change in the Managing Board of Sixt Leasing SE: Michael Martin Ruhl takes over CEO position from Thomas Spiegelhalter effective from 1 January 2019

DGAP-News: Sixt Leasing SE / Key word(s): Change of Personnel

30.10.2018 / 19:33
The issuer is solely responsible for the content of this announcement.


Change in the Managing Board of Sixt Leasing SE: Michael Martin Ruhl takes over CEO position from Thomas Spiegelhalter effective from 1 January 2019

Pullach, 30 October 2018 - The Supervisory Board of Sixt Leasing SE today appointed Mr Michael Martin Ruhl (47) as Chief Executive Officer (CEO) of Sixt Leasing SE effective from 1 January 2019. He will take over the CEO position from Mr Thomas Spiegelhalter, who asked the Supervisory Board to terminate his contract early as of 31 December 2018. The Supervisory Board has complied with this request today.

Michael Martin Ruhl has been Managing Director of Hannover Leasing GmbH & Co. KG since 2013. The company manages more than 200 investments and mutual funds with a total asset value of around 10 billion euros.

Before joining Hannover Leasing, Mr Ruhl worked for 17 years in leading sales positions. After various positions at the Commerzbank, the banker and banking business economist moved in 1997 to DaimlerChrysler Services Structured Finance GmbH, a predecessor company of DFH Deutsche Fonds Holding AG, where he was last a member of the Board.

As CEO of Sixt Leasing SE, Mr Ruhl will assume responsibility for the departments Group Strategy and Corporate Development, Sales, Marketing, Operations, Purchasing, Remarketing und Human Resources.

Erich Sixt, Chairman of the Supervisory Board of Sixt Leasing SE: "On behalf of the Supervisory Board, I would like to thank Mr Spiegelhalter for his commitment to the company and wish him all the best for the future. With Michael Martin Ruhl, we have gained a leasing expert with more than 20 years of sales experience. The Supervisory Board is convinced that with Mr Ruhl at the top, Sixt Leasing will successfully continue the growth course it has embarked on and will push ahead with the planned international expansion in the Online Retail and Fleet Management business fields."

---

About Sixt Leasing:
Sixt Leasing SE (WKN: A0DPRE / ISIN: DE000A0DPRE6) based in Pullach near Munich is market leader in online sales of new vehicles as well as specialist in management and full-service leasing of large fleets. With tailor-made solutions, the company enables the longer-term mobility of its private and corporate customers.

Private and commercial customers use the online platforms sixt-neuwagen.de and autohaus24.de to lease new vehicles affordably. Corporate customers benefit from the cost-saving leasing of their vehicle fleet and from efficient fleet management.

Sixt Leasing SE has been listed in the Regulated Market of the Frankfurt Stock Exchange (Prime Standard) since 7 May 2015. In fiscal year 2017, the Group generated consolidated revenue of EUR 744 million.
www.sixt-leasing.com


Contact
Sixt Leasing SE
Investor Relations
Stefan Kraus
+49 89 74444 4518
ir@sixt-leasing.com



30.10.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de



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10/30/2018

Sixt Leasing SE - Changes in the Managing Board: Michael Martin Ruhl (47) appointed as new CEO effective from 1 January 2019

Sixt Leasing SE / Key word(s): Change of Personnel
Sixt Leasing SE - Changes in the Managing Board: Michael Martin Ruhl (47) appointed as new CEO effective from 1 January 2019

30-Oct-2018 / 18:59 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


Sixt Leasing SE - Changes in the Managing Board: Michael Martin Ruhl (47) appointed as new CEO effective from 1 January 2019

Pullach, 30 October 2018 - The Supervisory Board of Sixt Leasing SE today appointed Mr Michael Martin Ruhl (47) as Chief Executive Officer (CEO) of Sixt Leasing SE effective from 1 January 2019. He will take over the CEO position from Mr Thomas Spiegelhalter, who asked the Supervisory Board to terminate his contract early as of 31 December 2018. The Supervisory Board has complied with this request today.

Michael Martin Ruhl is currently Managing Director of Hannover Leasing GmbH & Co. KG, where he is responsible for equity sales to investors. The company manages more than 200 investments and mutual funds with a total asset value of around 10 billion euros.

Contact:
Sixt Leasing SE
Investor Relations
Stefan Kraus
+49 89 74444 4518
ir@sixt-leasing.com


30-Oct-2018 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de



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10/11/2018

Sixt Leasing SE: Sixt Mobility Consulting under new leadership: Christoph von Tschirschnitz appointed Managing Director of Sixt Mobility Consulting, set to lead the future expansion in Europe

DGAP-News: Sixt Leasing SE / Key word(s): Change of Personnel

11.10.2018 / 12:00
The issuer is solely responsible for the content of this announcement.


 

Sixt Mobility Consulting under new leadership: Christoph von Tschirschnitz appointed Managing Director of Sixt Mobility Consulting, set to lead the future expansion in Europe

  • Christoph v. Tschirschnitz is coming from BMW Group, where he was most recently CEO of the Region Central & Southeastern Europe.
  • Sixt Mobility Consulting is on a strong growth and expansion course: Contract portfolio is set to increase by another 50 percent to more than 60,000 contracts by the end of 2021.
  • Sixt Leasing CEO Thomas Spiegelhalter: "Christoph v. Tschirschnitz will drive forward our growth plans in particular with his international management experience."

Pullach, 11 October 2018 - Sixt Leasing SE, market leader in the online sales of new vehicles and specialist in the management and full-service leasing of large fleets, has gained Christoph von Tschirschnitz as new Managing Director of Sixt Mobility Consulting GmbH. Thereby, he will be in charge of the European business and the further national and international expansion of the Fleet Management business unit of the Sixt Leasing Group.

Sixt Mobility Consulting is one of the leading independent providers of fleet management and a wholly-owned subsidiary of Sixt Leasing SE. The fleet specialist advises companies on the management of fleets, provides all services of fleet management through innovative IT tools and analyses, serves fleet users and supports companies in procuring fleets, for example, through IT-based multi-bidding processes.

Thomas Spiegelhalter, CEO of Sixt Leasing SE: "With the appointment of Christoph von Tschirschnitz, our Group is strengthened with a Managing Director who has long-time experience in all sales and financing areas of the automotive industry, excellent knowledge of Europe's automotive and mobility markets as well as a very good network. I am convinced that his international management experience will contribute to driving forward our ambitious growth plans for the Fleet Management business unit both in Germany and abroad."

From 1992 to 2018, Christoph v. Tschirschnitz worked with the BMW Group. During this time, he successfully held various positions in the upper management in the fields Corporate Control/M&A, Distribution Channels Strategy, at BMW Motorrad and as the Director of Sales & Marketing for the BMW sales region Asia, Pacific, Africa and Eastern Europe. Before Mr v. Tschirschnitz was President and CEO of the BMW Group Region Central & Southeastern Europe from 2014 until 2018, he had been in charge of the Corporate & Direct Sales business segment as member of the BMW Group Germany management.

Christoph v. Tschirschnitz: "I am looking forward to becoming a member of the Sixt Leasing Group's management team. Individual mobility will remain an essential need of people - in their private as well as business lives. For companies the fleet is essential for operations, for employees it is a strong motivational factor - and always a major cost factor. Due to increasing requirements, either by regulatory changes, technological innovations or demands of drivers, fleet management for companies is becoming more and more complex. From my point of view, Sixt Mobility Consulting provides an enormous capability and convincing answers for companies - neutral and independent of manufactures and leasing providers. Thus, the various challenges become opportunities for an even more efficient and, for employees, attractive fleet organisation."

---

About Sixt Mobility Consulting:
Sixt Mobility Consulting GmbH is one of the leading independent providers of fleet management and a wholly-owned subsidiary of Sixt Leasing SE. The fleet specialist advises and supervises company fleets independently from manufactures and leasing providers. The business is focused on classic outsourcing of fleet management including user assistance as well as support in fleet procuring, for example through implementing multi-bidding processes. The consulting scope for improving the total cost of ownership and attractive mobility solutions for employees also includes innovative, forward-looking mobility concepts.

About Sixt Leasing:
Sixt Leasing SE (WKN: A0DPRE / ISIN: DE000A0DPRE6) based in Pullach near Munich is market leader in online sales of new vehicles as well as specialist in management and full-service leasing of large fleets. With tailor-made solutions, the company enables the longer-term mobility of its private and corporate customers.

Private and commercial customers use the online platforms sixt-neuwagen.de and autohaus24.de to lease new vehicles affordably. Corporate customers benefit from the cost-saving leasing of their vehicle fleet and from efficient fleet management.

Sixt Leasing SE has been listed in the Regulated Market of the Frankfurt Stock Exchange (Prime Standard) since 7 May 2015. In fiscal year 2017, the Group generated consolidated revenue of EUR 744 million.
www.sixt-leasing.com


Contact:
Sixt Leasing SE
Investor Relations
Stefan Kraus
+49 89 74444 4518
ir@sixt-leasing.com



11.10.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de



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10/04/2018

Sixt Leasing starts autumn with 'HotCars' promotion - Fiat 500 available at a special price starting at EUR 99 per month*

DGAP-News: Sixt Leasing SE / Key word(s): Product Launch

04.10.2018 / 14:30
The issuer is solely responsible for the content of this announcement.


Sixt Leasing starts autumn with 'HotCars' promotion - Fiat 500 available at a special price starting at EUR 99 per month*

  • Special offer until the end of 2018 featuring seven popular new car models at exceptionally attractive terms

Pullach, 4 October 2018 - Sixt Leasing SE, market leader in the online sales of new vehicles and specialist in the management and full-service leasing of large fleets, starts autumn with new offerings. In the period from October 4 until December 31, 2018 the company will be providing a limited number of popular vehicle models at exceptionally attractive terms as part of the 'HotCars' promotion.

Until the end of the year, six vehicles from various manufacturers will each be available for four weeks as individually configurable new vehicles at a special price. Beginning from today, the Fiat 500 can be ordered for a monthly instalment starting at EUR 99*. Additionally, the Ford Transit will be provided specifically to commercial customers throughout the entire promotion period beginning from EUR 109 per month (excl. VAT)*.

Private and commercial customers find the current 'HotCars' at www.sixt-neuwagen.de/hotcars, where they can easily add extras and further services such as insurance or winter tyres. Customers, who do not want to miss out on any of the new offers in the coming weeks, have the opportunity to subscribe to the free Sixt Neuwagen newsletter for regular information via email.

Thomas Spiegelhalter, CEO of Sixt Leasing SE: "With our autumn promotion, at the end of the year we provide our customers with extraordinary offers at exceptionally attractive terms. As a multi-brand new vehicle portal, sixt-neuwagen.de is the first point of contact for all people who are interested in new cars and want to get a good bargain."

---

* The price is valid for a Vario-financing contract without upfront payment and with final payment. For further details on financing, such as net loan amount, annual percentage rate and borrowing rate, please refer to the information on the website www.sixt-neuwagen.de/hotcars.

---

About Sixt Leasing:
Sixt Leasing SE (WKN: A0DPRE / ISIN: DE000A0DPRE6) based in Pullach near Munich is market leader in online sales of new vehicles as well as specialist in management and full-service leasing of large fleets. With tailor-made solutions, the company enables the longer-term mobility of its private and corporate customers.

Private and commercial customers use the online platforms sixt-neuwagen.de and autohaus24.de to lease new vehicles affordably. Corporate customers benefit from the cost-saving leasing of their vehicle fleet and from efficient fleet management.

Sixt Leasing SE has been listed in the Regulated Market of the Frankfurt Stock Exchange (Prime Standard) since 7 May 2015. In fiscal year 2017, the Group generated consolidated revenue of EUR 744 million.
www.sixt-leasing.com


Contact:
Sixt Leasing SE
Corporate Communications
Stefan Kraus
+49 89 74444 4723
pr@sixt-leasing.com



04.10.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de



show this