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August 16, 2017

Sixt Leasing: Further dynamic growth of Online business in the first half of 2017

DGAP-News: Sixt Leasing SE / Key word(s): Half Year Results/Quarter Results

16.08.2017 / 07:30
The issuer is solely responsible for the content of this announcement.


Sixt Leasing: Further dynamic growth of Online business in the first half of 2017
  • Online Retail: Business field for new vehicle sales via internet brings substantial lift to the contract portfolio in the first half of 2017
  • Progress in Group financing: Repayment of EUR 300 million according to plan means further savings in interest costs in second half of the year
  • Positive outlook: Managing Board expects continued revenue and earnings growth in fiscal year 2017

Pullach, 16 August 2017 - Sixt Leasing SE, market leader in online sales of new vehicles as well as specialist in management and full-service leasing of large fleets, confirms its outlook for the fiscal year 2017. Above all, the growth in the Online Retail business field is encouraging the Managing Board. This business field's contract portfolio has been climbing 55.1 percent since the start of the year, up to 42,500 contracts. Compared to the same period the year before the contract growth was at 74.4 percent. Across the Group the number of contracts as at 30 June 2017 totalled 128,900 contracts. This equals a gain of 13.5 percent for the first six months of 2017 and 22.6 percent compared to 30 June 2016.

Rudolf Rizzolli, CEO of Sixt Leasing SE: "As planned, our Online Retail business is becoming the most important business field of the Group. With a plus of almost 75 percent over the same period the year before it has turned into the growth driver for Sixt Leasing. The strong demand we record for our offerings in the internet, including for example the 'flat rate for the road', demonstrates that we touched a nerve with consumers. Our strategy of driving forward the digitalisation of new vehicle sales and to secure further shares on this market has proved to be spot on."

Business performance
While the contract portfolio for the Online Retail business field gained 55.1 percent in the first six months of 2017 to 42,500 contracts, the number of contracts for the other two business fields remained stable. Fleet Leasing recorded 47,600 contracts by the end of June 2017, a plus of 0.1 percent. For the Leasing business unit, which comprises the Online Retail and Fleet Leasing business fields, the number of contracts climbed to 90,100 contracts, 20.2 percent more than at the end of 2016. The Fleet Management business unit recorded a gain of 0.4 percent to 38,800 contracts. Over the period from the end of 2016 to the end of June 2017, the Group's total number of contracts inside and outside Germany (excluding franchise and cooperation partners) gained 13.5 percent to 128,900 contracts. Compared to 30 June 2016 the growth of the Group's contract portfolio even came to 22.6 percent.

Consolidated revenue in the first half of 2017 went up 4.3 percent over the same period the year before to EUR 368.7 million. Operating revenue (without sales revenue) gained 6.0 percent to EUR 223.6 million. Sales revenue from returned leasing vehicles and the marketing of customer cars came to EUR 145.1 million, 1.8 percent higher than the figure recorded the year before.

The significant growth in the contract portfolio also improved the future earnings strength of the Company. The growth investments undertaken for digitalisation and IT solutions as well as in expanding the new business activities continued to burden earnings in the first half of the year. Nonetheless, consolidated earnings before taxes (EBT) increased 3.2 percent to EUR 16.8 million. Referenced to the revenue without sales revenue, the operating return on revenue came to 7.5 percent and was thus almost on a par with the last year's figure of 7.7 percent and still substantially above the targeted 6.0 percent. Following the dividend payout of EUR 9.9 million the equity ratio as at 30 June 2017 came to 15.5 percent and thus significantly above the targeted minimum of 14.0 percent.

Group financing
Following the successful placement of a bond, Sixt Leasing SE was able to redeem a significant volume in the amount of EUR 300 million from the Core Loan provided by Sixt SE as planned at the earliest time on 30 June 2017. Hence, the transfer of Sixt Leasing Group's financing from Sixt SE to external financing arrangements, which had started in 2015, continues to be fully in line with the schedule.

Björn Waldow, CFO of Sixt Leasing SE: "With the repayment at the end of June we reduced the outstanding redemption amounts to Sixt SE to EUR 190 million. This will mean a further reduction in our interest costs. We also thereby remain fully in line with setting up our own independent and diversified financing structure."

Outlook
For the full fiscal year 2017 and on the basis of the successful business performance of the first six months, the Company expects to see a further growth of the contract portfolio, an increase of earnings before taxes (EBT) in the high single-digit percentage range, a slight improvement in operating revenue and an equity ratio above the targeted minimum figure of 14 percent. Moreover, the Managing Board specifies its forecast for the Online Retail business field. Given the ongoing dynamic growth seen in the first six months of 2017, above all thanks to the 'flat rate for the road' offer, the Managing Board expects the contract portfolio to reach around 45,000 contracts by the end of the year.


The Sixt Leasing Group in H1 2017 at a glance

(Figures in accordance with IFRS)1

Revenue performance

in EUR million H1 2017 H1 2016 Change
in %
Q2 2017 Q2 2016 Change
in %
Leasing segment 318.2 312.9 +1.7 154.7 159.6 -3.1
Fleet Management segment 50.5 40.5 +24.6 26.4 19.5 +35.2
Consolidated revenue
thereof consolidated operating revenue
(without sales revenue)
thereof sales revenue
368.7

223.6
145.1
353.4

210.9
142.5
+4.3

+6.0
+1.8
181.1

111.1
70.0
179.1

107.5
71.5
+1.1

+3.3
-2.2

Earnings performance
 
in EUR million H1 2017 H1 2016 Change
in %
Q2 2017 Q2 2016 Change
in %
Fleet expenses and cost of lease assets2 227.5 217.5 +4.6 110.9 110.6 +0.3
Personnel expenses 16.8 11.7 +43.2 8.7 6.1 +42.1
Depreciation and amortisation2 90.7 88.1 +2.9 46.6 44.0 +5.9
Net other operating
income/expense
-7.4 -9.0 -17.4 -1.6 -4.9 -67.5
Net finance costs -9.6 -10.9 -12.3 -5.0 -5.3 -6.1
Earnings before taxes (EBT) 16.8 16.2 +3.2 8.3 8.2 +1.3
Operating return on revenue (%)3 7.5 7.7 -0.2 points 7.4 7.6 -0.2 points
Income tax expenses 4.3 4.3 +0.5 1.8 2.1 -12.3
Consolidated profit 12.5 12.0 +4.1 6.5 6.1 +5.8
Earnings per share (in EUR)4 - basic and diluted 0.61 0.58 - 0.31 0.30 -

Balance sheet figures
 
in EUR million 30 Jun 2017 31 Dec 2016 Change in %
Total assets 1,270.0 1,172.2 +8.3
Lease assets 1,093.4 1,020.8 +7.1
Non-current liabilities to related parties5 190.0 490.0 -61.2
Current liabilities to related parties6 6.8 3.8 +79.1
Financial liabilities7 715.2 353.7 >+100
Equity 197.1 194.7 +1.2
Equity ratio (%) 15.5 16.6 -1.1 points
  H1 2017 H1 2016 Change in %
Investments in lease assets8 281.3 222.4 +26.5
 

1 Due to roundings, it is possible that selected figures in this release cannot be added up to the amount recorded and that the year figures listed do not follow from adding up the individual quarterly figures. For the same reason, the percentage figures listed may not always exactly reflect the absolute numbers to which they refer.
2 The write-downs on lease assets intended for sale are accounted as fleet expenses and cost of lease assets since the financial year 2016. The figures of the previous year are adjusted accordingly.
3 Ratio of EBT to operating revenue
4 Ratio of consolidated profit attributable to the Group shareholders to weighted number of shares for the period
5 Liabilities to Sixt SE (Core Loan)
6 Mainly liabilities to Sixt SE
7 Current and non-current financial liabilities, including finance leases
8 Value of vehicles added to the leasing fleet


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 platform sixt-neuwagen.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 2016 the Group generated consolidated revenues of EUR 714 million.

www.sixt-leasing.com


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



16.08.2017 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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June 30, 2017

Sixt Leasing SE: AGM resolves on dividend increase and share-based compensation system

DGAP-News: Sixt Leasing SE / Key word(s): AGM/EGM/Dividend

30.06.2017 / 14:45
The issuer is solely responsible for the content of this announcement.


Sixt Leasing SE: AGM resolves on dividend increase and share-based compensation system
  • Widespread approval: Large majority of shareholders accepts all of the proposals put on the agenda by Managing Board and Supervisory Board
  • Dividend increased by 20 percent over previous year: Pay-out of EUR 0.48 per share for fiscal year 2016
  • Share-based compensation: Introduction of a long-term compensation system for management
  • Positive outlook confirmed: Digitalisation drives profitable growth

Pullach, 30 June 2017 - Sixt Leasing SE, market-leader in online sales of new vehicles and specialist in management and full-service leasing of large fleets, held a successful Annual General Meeting yesterday in Munich. Over 100 shareholders attended, collectively representing approximately 77 percent of the share capital. The shareholders accepted all of the proposals put forward by the Supervisory Board and Managing Board with a large majority. Included on the agenda were the appropriation of retained profits, the discharge of Managing and Supervisory Board members for the 2016 financial year, the election of the auditor for the 2017 financial year and the 2017 stock option plan for the Managing Board and managers.

Significant dividend increase resolved
The shareholders' meeting approved the proposed dividend of EUR 0.48 per share for the fiscal year 2016. This places the dividend 20 percent above the level of last year. In order to allow shareholders to participate even more in the company's sustained, dynamic and profitable growth via their dividends, the Managing Board raised the target pay-out ratio from 30 to 40 percent to 30 to 60 percent of consolidated profit, beginning with the 2017 financial year.

New, share-based compensation model
Shareholders also passed a stock option programme. This is linked to ambitious targets and envisages that members of the Managing Board and selected managers will receive share options which can be converted to shares after four years. Options can be serviced in cash or in treasury shares, in conjunction with two share price thresholds. If the share price rises by 30 percent, then 60 percent of options may be exercised; if it rises by 50 percent, all options may be exercised.

The stock option plan is a core aspect of developing the compensation model at Sixt Leasing SE. Besides the targets that need to be met before exercising options, the issuing of options is linked to Managing Board members' and managers' own investments. This new, share-based compensation model specifically rewards growth at Sixt Leasing, creates powerful performance incentives and encourages long-term loyalty to the company among management.

Online business as foremost growth driver
In his speech entitled "Digitalisation drives profitable growth", Rudolf Rizzolli, CEO of Sixt Leasing SE, presented the company's current strategy. This envisages Online Retail becoming the largest business field in the mid-term on account of its dynamic growth. In Fleet Leasing, which is still the largest business field for now, the company intends to offer more IT solutions as well as online and mobile services. Digitalisation will also play an important role in the future of the fleet management business, where the online-based Sixt Global Reporting Tool which is already in use will provide customers with potential savings and promote growth.

Rudolf Rizzolli, CEO at Sixt Leasing SE: "We would like to thank all of our shareholders for your trust. Their broad approval of the proposals gives us a powerful momentum. Our vision is to become a kind of Amazon for cars. To achieve this long-term aim, we hope to revolutionise the way in which new vehicles are sold and used. That is why we are developing new products, sales channels and services which benefit especially from the megatrends sharing economy, mobility, digitalisation and e-commerce."

The Managing Board expects further growth of earnings before tax (EBT) in a high single percentage range for the 2017 financial year, on account of sustained dynamic growth, as well as a slight increase in operating revenue.

Full details of the 2017 Annual General Meeting and its voting results are available on the website http://ir.sixt-leasing.de/hv.


About Sixt Leasing:
Sixt Leasing SE (WKN: A0DPRE / ISIN: DE000A0DPRE6) based in Pullach near Munich is market leader in online sales of new vehicles and 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 platform sixt-neuwagen.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 2016 the Group generated consolidated revenues of EUR 714 million.

www.sixt-leasing.de

Contact:
Sixt Leasing SE
Corporate Communications
Stefan Kraus
+49 89 74444 - 4518
presse-leasing@sixt.com



30.06.2017 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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May 10, 2017

Sixt Leasing affirms outlook for full-year 2017 following strong growth in Q1

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

10.05.2017 / 07:30
The issuer is solely responsible for the content of this announcement.


Sixt Leasing affirms outlook for full-year 2017 following strong growth in Q1

  • Positive outlook: Managing Board expects dynamic revenue and earnings growth to continue in fiscal year 2017
  • Growth driver Online Retail: Business field for online sales of new vehicles gains around 58 percent year-on-year in Q1 2017 to further increase contract portfolio
  • Milestone in Group financing: Successful placement of bond with volume of EUR 250 million and coupon of 1.125 percent

Pullach, 10 May 2017 - Sixt Leasing SE, market leader in online sales of new vehicles as well as specialist in management and full-service leasing of large fleets, affirms its outlook for the full fiscal year 2017 thanks to its Online Retail business field's persistently strong growth in Q1. The Managing Board still expects an increase of earnings before taxes (EBT) in the high single-digit percentage range and a slight increase of operating revenue. Moreover, the Managing Board maintains its outlook for the equity ratio, which once again is set to exceed the targeted minimum level of 14 percent.

Rudolf Rizzolli, CEO of Sixt Leasing SE: "As planned, our Online Retail business field continues to mature step by step into the Group's largest business field. Growing almost
60 percent year-on-year we have started very well into the new year and underpinned once again that the future of new vehicle sales is digital."

From the end of December 2016 to end of March 2017 the Online Retail business field grew its contract portfolio by 32.3 percent to 36,300 contracts. This was above all due to the successful launch of the "flat rate for the road", a joint initiative of 1&1, Peugeot and Sixt Leasing to offer the usage of a fully-equipped Peugeot 208 including transfer, registration, taxes and insurance from 99.99 euros (incl. VAT) per month. Strong demand for this innovative leasing offer has prompted the Managing Board to upgrade its outlook for the Online Retail business field's contract portfolio from 36,000 to significantly more than 40,000 contracts by the end of the year 2017.

The other two business fields kept their contract portfolio mainly stable. Thus, the number of contracts in Fleet Leasing at the end of Q1 came to 47,300 contracts, while Fleet Management registered 38,900 contracts. All in all, the Group's total number of contracts inside and outside Germany (excluding franchise and cooperation partners) gained a significant 7.8 percent to 122,500 contracts.

Also consolidated revenue for the first quarter of 2017 climbed 7.6 percent year-on-year to EUR 187.7 million. At the same time, operating revenue (without the proceeds from vehicle sales) improved above average by 8.9 percent to EUR 112.5 million. Revenues from the sale of returned leasing vehicles and the marketing of customer cars gained 5.9 percent to EUR 75.1 million.

Consolidated earnings before taxes (EBT) increased by 5.1 percent to EUR 8.5 million. The operating return on revenue came to 7.5 percentage points and was thus almost on a par with the last year's figure of 7.8 percent and still substantially above the targeted 6.0 percent. Compared with Q4 2016, the equity ratio decreased slightly by 0.9 percentage points to
15.7 percent due to the bond placement, but was still substantially above the declared minimum of 14.0 percent.

One of the highlights of Q1 was also the successful placement of Sixt Leasing SE's first corporate bond with a volume of EUR 250 million and a coupon of 1.125 percent. The bond issue met with lively demand from domestic and international investors and was oversubscribed several times.

Björn Waldow, CFO of Sixt Leasing SE: "With our debut on the bond market we passed another important milestone towards setting up our own independent and diversified financing structure. We are now well positioned to repay further partial amounts of the loan granted by Sixt SE and are thereby lowering our interest rate costs still further."


The Sixt Leasing Group in Q1 2017 at a glance

(Figures in accordance with IFRS)1
 

Revenue performance

in EUR million Q1 2017 Q1 2016 Change in %
Leasing Segment 163.5 153.3 +6.7
Fleet Management segment 24.1 21.0 +14.7
Consolidated revenue 187.7 174.3 +7.6
thereof consolidated operating revenue (without sales revenue) 112.5 103.4 +8.9
thereof sales revenue 75.1 71.0 +5.9
 

Earnings performance

in EUR million Q1 2017 Q1 2016 Change in %
Fleet expenses and cost of lease assets2 116.6 106.9 +9.1
Personnel expenses 8.1 5.6 +44.4
Depreciation and amortisation2 44.1 44.1 +0.0
Net other operating
income/expense

-5.8

-4.1

+43.1
Net finance costs -4.6 -5.6 -18.1
Earnings before taxes (EBT) 8.5 8.1 +5.1
Operating return on revenue (%)3 7.5 7.8 -0.3 points
Income tax expenses 2.5 2.2 +12.5
Consolidated profit 6.0 5.9 +2.3
Earnings per share (in EUR)4 - basic and diluted 0.29 0.29 -
 

Balance sheet figures

in EUR million 31 Mar 2017 31 Dec 2016 Change in %
Total assets 1,280.2 1,172.2 +9.2
Lease assets 1,050.5 1,020.8 +2.9
Non-current liabilities to related parties5 190.0 490.0 -61.2
Current liabilities to related parties6 303.2 3.8 >+100
Financial liabilities7 442.3 353.7 +25.0
Equity 200.7 194.7 +3.1
Equity ratio (%) 15.7 16.6 -0.9 points
  Q1 2017 Q1 2016 Change in %
Investments in lease assets8 132.8 106.4 +24.8


1 Due to roundings, it is possible that selected figures in this Press Release cannot be added up to the amount recorded and that the year figures listed do not follow from adding up the individual quarterly figures. For the same reason, the percentage figures listed may not always exactly reflect the absolute numbers to which they refer.
2 The write-downs on lease assets intended for sale are accounted as fleet expenses and cost of lease assets since the financial year 2016. The figures of the previous year are adjusted accordingly.
3 Ratio of EBT to operating revenue
4 Ratio of consolidated profit attributable to the Group shareholders to weighted number of shares for the period
5 Liabilities to Sixt SE (Core Loan)
6 Mainly liabilities to Sixt SE
7 Current and non-current financial liabilities, including finance leases
8 Value of vehicles added to the leasing fleet


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 platform sixt-neuwagen.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 2016 the Group generated consolidated revenues of EUR 714 million.

www.sixt-leasing.com


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



10.05.2017 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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April 24, 2017

Sixt Leasing raises forecast for online business in 2017 significantly after most successful year in the company's history

DGAP-News: Sixt Leasing SE / Key word(s): Final Results/Dividend

24.04.2017 / 08:30
The issuer is solely responsible for the content of this announcement.


Sixt Leasing raises forecast for online business in 2017 significantly after most successful year in the company's history

  • Annual Report 2016 published: Sixt Leasing records most successful fiscal year in corporate history
  • Attractive dividend policy: Increase of dividend per share by 20 per cent to EUR 0.48 and expansion of target distribution range to 30-60 per cent of consolidated net profit
  • Higher contract portfolio expected: Forecast for Online Retail contract portfolio upgraded to significantly more than 40,000 contracts by the end of 2017
  • Outlook confirmed: Managing Board expects dynamic growth to continue in fiscal year 2017

Pullach, 24 April 2017 - Sixt Leasing SE, one of the largest bank- and manufacturer-independent full-service leasing providers in Germany today published its Annual Report 2016 and after the record year 2016 looks equally positively ahead to the current fiscal year 2017. To let shareholders participate via dividends even more in the ongoing dynamic and profitable growth in the future, the Managing Board is extending the target distribution range from 30-40 per cent to 30-60 per cent of consolidated net profit beginning from fiscal year 2017. In addition, in view of the developments of the last few weeks, the Managing Board is also increasing its outlook for the Online Retail business field's contract portfolio, up from 36,000 to significantly more than 40,000 contracts by the end of 2017.

Rudolf Rizzolli, CEO of Sixt Leasing SE: "We are delighted to hold out the prospect of a higher share in earnings to our shareholders. The extended distribution range reflects not only our shareholder-friendly dividend policy but also our continued dynamic and above all profitable growth. This is evident especially in our Online Retail business field where we expect to see a significantly higher volume of contracts by the end of 2017 than previously planned. Demand over the last weeks exceeded our expectations and confirms that our strategy is on the right track. In future we will shift the focus of our activities on to the sale of new leasing vehicles via the internet. The future of mobility is digital. This is clearly borne out by the success of our product innovation, the 'flat rate for the road'."

The positive outlook is based on the full-year figures from the Annual Report 2016, which Sixt Leasing SE published today. According to these, there were no changes from the preliminary figures already announced in March.

The Group's contract portfolio at home and abroad (not including franchise and cooperation partners) posted an increase of 10.1 per cent to 113,600 contracts. Consolidated revenue went up in comparison to the prior year by 7.3 per cent to an all-time high of EUR 713.9 million. Group earnings before taxes (EBT) increased by 4.3 per cent to EUR 31.6 million despite significantly higher growth investments. The operating return on revenue improved by 0.3 percentage points to 7.3 per cent and thus continued to be noticeably above the target of 6.0 per cent. Likewise, the equity ratio with an increase of 0.6 percentage points to 16.6 per cent significantly exceeded the targeted 14.0 per cent. The consolidated net profit rose by 9.3 per cent to EUR 24.6 million. The dividend per share shall be raised by 20 per cent to EUR 0.48.

Due to the ongoing dynamic growth, the Managing Board expects to see an increase in earnings before taxes (EBT) in the high single-digit percentage range as well as slight growth in operating revenue for fiscal year 2017. Moreover, the Managing Board anticipates that the equity ratio will again reach a value above the minimum target figure of 14 per cent.
 

About Sixt Leasing:
Sixt Leasing SE (WKN: A0DPRE / ISIN: DE000A0DPRE6) based in Pullach near Munich is one of Germany's leading independent vehicle leasing service providers and is also involved in fleet leasing and fleet management, both in Germany and elsewhere in Europe. With its full-service portfolio, the company enables the mobility of its private and corporate customers.

Private and commercial customers use the online platform sixt-neuwagen.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 2016 the Group generated consolidated revenues of EUR 714 million.

www.sixt-leasing.com
 

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



24.04.2017 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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March 14, 2017

Sixt Leasing SE: After a record year in 2016, Sixt Leasing is increasing dividend and expects further growth in revenue and earnings - Forecast for the online business is raised significantly

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

14.03.2017 / 07:30
The issuer is solely responsible for the content of this announcement.


After a record year in 2016, Sixt Leasing is increasing dividend and expects further growth in revenue and earnings - Forecast for the online business is raised significantly

  • Revenue and earnings increase to new peak values
  • Strong growth in the online business and in Fleet Management continues unabated
  • Contract volume climbed by 10 per cent to 113,600 contracts - in the online business field even by about 30 per cent
  • Profitability and equity ratio improved despite high future investments
  • Dividend increase by 20 per cent to EUR 0.48 per share
  • Significant interest savings through optimisation of financial structure
  • Growth outlook for 2017 in the online business field nearly doubled through increase of 8,600 to a total of 36,000 contracts
  • Increase of consolidated EBT 2017 in the high single-digit per centage range

Pullach, March 14, 2017 - Sixt Leasing SE, one of the largest bank- and manufacturer-independent full-service leasing companies in Germany, reported 2016 the most successful business year in its company history. According to preliminary figures (IFRS), the consolidated revenue increased in comparison to the prior year by 7.3 per cent to an all-time high of EUR 713.9 million. The Group's operating revenue (not including vehicle sales proceeds) remained stable as expected at EUR 430.0 million, but would have increased by 2.9 per cent without taking the lower fuel revenue into consideration. The sales revenue from returned leasing and marketed customer vehicles climbed by 20.5 per cent to EUR 283.9 million. The Fleet Management and Online Retail business fields made a considerable contribution to the growth. In Fleet Management, the contract volume increased by 14.3 per cent and in the Online Retail even by 29.9 per cent. Altogether, at home and abroad, the Group's contract portfolio (not including franchise and cooperation partners) posted an increase of 10.1 per cent to 113,600 contracts.

Group earnings before taxes (EBT) increased by 4.3 per cent to EUR 31.6 million despite significantly higher growth investments. The operating return on revenue improved by 0.3 percentage points to 7.3 per cent and thus continued to be noticeably above the minimum target of 6.0 per cent. Likewise, the equity ratio with an increase of 0.6 percentage points to 16.6 per cent significantly exceeded the targeted 14.0 per cent. At the same time, the financial result was improved: The previous year's deficit of EUR 21.3 million shrunk by 8.4 per cent to EUR 19.5 million. This resulted from lower interest expenses after the repayment of EUR 209 million from the Core Loan provided by Sixt SE at midyear.

All in all, Sixt Leasing SE was able to improve its profits to a considerable extent: The consolidated net profit rose by 9.3 per cent to EUR 24.6 million. Subject to the approval by the Supervisory Board, the Managing Board plans, despite high growth investments, to propose a dividend increase to EUR 0.48 per share for the fiscal year 2016 (2015: EUR 0.40 per share) at the Annual General Meeting on 29 June 2017. This dividend proposal would lead to a total distribution of EUR 9.9 million (2015: EUR 8.2 million) and a distribution ratio of about 40 per cent (2015: 37 per cent) of the consolidated net profit. Thus, the ratio would be at the upper end of the communicated target range of 30 to 40 per cent of the consolidated net profit.

Rudolf Rizzolli, CEO of Sixt Leasing SE: "2016 constituted another record year in that we laid the foundation for continued dynamic growth. The results fall fully within the scope of our expectations. For 2017 we expect further growth in revenue and earnings. For that purpose, we will concentrate even more on the online sale of new vehicles, the last large market in Germany that is not yet digitalised. Thanks to our innovative and high-margin online platform sixt-neuwagen.de, we plan to further develop our position as online market leader and to gain additional market shares. Our just recently introduced 'flat rate for the road' in cooperation with 1&1 is already being well received. Therefore, we are confident that we will reach our annual target to date for the contract volume in the Online Retail business field much earlier than expected."

Leasing business unit (Fleet Leasing and Online Retail)
The Leasing business unit, which consists of the Fleet Leasing and Online Retail business fields underwent a positive development in fiscal year 2016. Compared to 2015, the contract portfolio rose by 8.0 per cent to 74,900 contracts (31 December 2016). Thus, the dynamic growth in Online Retail of 29.9 per cent to 27,400 contracts was more than able to make up for the slight decline in Fleet Leasing of 1.6 per cent to 47,500 contracts. Total revenue of the Leasing business unit increased by 5.6 per cent to EUR 626.8 million. Earnings before taxes (EBT) of the Leasing business unit increased as a result of the operating growth, the improved earnings quality in the contract portfolio and a drop in the average interest expenses due to the reorganisation of Group financing by 2.1 per cent to EUR 28.0 million. Investments in the long-term growth of the Online Retail business field had an inverse effect.

Fleet Management business unit
The Fleet Management business unit underwent a very positive development during fiscal 2016. Compared to the previous year, the contract portfolio increased by 14.3 per cent to 38,700 contracts (31 December 2016), in particular due to the complete takeover of the present Sixt Mobility Consulting AG in Switzerland. Total revenue of the Fleet Management business unit increased by 21.1 per cent to EUR 87.1 million. Earnings before taxes (EBT) of the Fleet Management business unit also saw very positive growth and rose by 25.1 per cent to EUR 3.5 million.

Financing
Sixt Leasing SE was able to reach several milestones in fiscal year 2016 concerning the set-up of a Group financing that is diversified and independent from Sixt SE. In May, Sixt Leasing SE successfully placed its first borrower's note loan for EUR 30 million with institutional investors. In July, the company reached its target volume of EUR 500 million just one month after starting the asset-backed securities (ABS) programme to refinance leasing contracts. In January 2017, the company placed its first bond with a volume of EUR 250 million. Last year, Sixt Leasing SE also repaid EUR 209 million of the Core Loan provided by Sixt SE. Thus, the amount outstanding under this loan amounts to EUR 490 million as of 31 December 2016.

Björn Waldow, CFO of Sixt Leasing SE: "2016 was successful for Sixt Leasing also with respect to Group financing. Within a short time period, we were able to build up a very good reputation in the capital market and reached important milestones to set up new refinancing independent from our shareholder Sixt SE. Reduction of interest expenses associated with that already had an impact last year and is to further strengthen in 2017."

Innovation in 2017
In March 2017, Sixt Leasing was the first provider to introduce a "flat rate for the road" along with a fully digital online ordering process, and thus reached the next milestone in the online strategy. The new vehicle flat rate initially offered within the scope of a collaboration with the mobile telephony and internet provider 1&1 includes, in addition to the vehicle, an all-in carefree package covering all costs for transfer, registration, taxes and insurance. With the additionally bookable Flexi-Lease option, the 12-month basic term can be extended flexibly at a later point in time by up to 30 months.

"Our customers do not want to buy cars, instead they want mobility - preferably online, flexible and at a predictable, favourable all-inclusive flat rate. Even printing, filling out and signing documents as well as going to the post office are now a thing of the past. With eSign, video-identification procedures, and online credit checks, the entire process for ordering a new vehicle is done in a completely digital manner," emphasizes Rudolf Rizzolli.

The market for new vehicles is one of the last large markets in Germany that is not yet digitalised. Sales are still processed almost exclusively through traditional local car dealers. A growing number of customers, however, want to not only compare their vehicle online just like any other consumer goods, but they also want to order it online and ideally pay for its use a monthly flat rate that includes all vehicle-related services and costs. With the "flat rate for the road" Sixt Leasing is building up its leading position on the online new vehicle market to advance the digitalisation of this market valued at almost EUR 100 billion in Germany alone.

Outlook for 2017
For fiscal 2017 and the following years, Sixt Leasing wants to continue the path of profitable growth taken to date and further expand its position as an innovative and high-margin mobility provider on the German market.

The Online Retail business field is set to become much more significant in 2017 based on its outstanding growth prospects and continuing digitalisation and develop perspectively to become the largest business field within the Group. Therefore, the Managing Board has significantly raised its forecast for 2017 and anticipates a contract volume of 36,000 contracts by the end of the year, which represents additional growth of 4,000 contracts compared to original guidance.

The focus in the Fleet Leasing business field is to remain on profitability with a slight increase in the contract volume.

Accelerating expansion into key European foreign markets is planned for the Fleet Management business unit. In this regard, Sixt Leasing especially wants to build on existing customer relations. This is intended to accomplish another step towards a medium-term objective of 50,000 contracts in 2017.

For fiscal year 2017, the Managing Board expects to see an increase in earnings before taxes (EBT) in the high single-digit percentage range as well as slight growth in operating revenue, which is expected to further improve profitability. Moreover, the Managing Board anticipates that the equity ratio will again reach a value above the minimum target figure of 14 per cent.

---

About Sixt Leasing:

Sixt Leasing SE (WKN: A0DPRE / ISIN: DE000A0DPRE6) based in Pullach near Munich is one of Germany's leading independent vehicle leasing service providers and is also involved in fleet leasing and fleet management, both in Germany and elsewhere in Europe. With its full-service portfolio, the company enables the mobility of its private and corporate customers.

Private and commercial customers use the online platform sixt-neuwagen.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 2015 the Group generated consolidated revenues of EUR 665 million.

www.sixt-leasing.com


Contact:
Sixt Leasing SE
Corporate Communications
Frank Elsner / Frank Paschen
Tel.: +49 (0) 89 / 99 24 96 - 30
Fax: +49 (0) 89 / 99 24 96 - 32
E-Mail: office@elsner-kommunikation.de
 

Note:
All fiscal year 2016 figures in this press release are preliminary and subject to possible change. The final and audited 2016 consolidated annual financial statements for Sixt Leasing SE will be published on 24 April 2017.



The Sixt Leasing Group in 2016
(Preliminary figures in accordance with IFRS)1

Revenue performance

in EUR million 2016 2015 Change in %
Leasing Segment 626.8 593.5 +5.6
Fleet Management segment 87.1 71.9 +21.1
Consolidated revenue 713.9 665.4 +7.3
thereof consolidated operating revenue (without sales revenue) 430.0 429.8 0
thereof sales revenue 283.9 235.6 +20.5
 

Earnings performance

in EUR million 2016 2015 Change in %
Fleet expenses and cost of lease assets2 439.3 408.5 +7.5
Personnel expenses 25.0 20.2 +23.7
Depreciation and amortisation2 177.5 171.5 +3.5
Net other operating
income/expense
-21.0 -13.6 +53.9
Net finance costs -19.5 -21.3 -8.4
Earnings before taxes (EBT) 31.6 30.3 +4.3
Operating return on revenue (%)3 7.3 7.0 +0.3 points
Income tax expenses 6.9 7.7 -13.3
Consolidated profit 24.6 22.5 +9.3
Earnings per share (in EUR)4 - basic and diluted 1.19 1.20  
 

Balance sheet figures

in EUR million 31.12.2016 31.12.2015 Change in %
Total equity and liabilities 1,172.2 1,112.9 +5.3
Lease assets 1,020.8 957.8 +6.6
Non-current liabilities to related parties5 490.0 699.0 -29.9
Current liabilities to related parties6 3.8 4.0 -6.4
Financial liabilities7 353.7 97.3 >+100
Equity 194.7 178.3 +9.2
Equity ratio (%) 16.6 16.0 +0.6 points
  2016 2015 Change in %
Investments in lease assets8 471.7 424.1 +11.2


1 Due to roundings it is possible that selected figures in this release cannot be added up to the amount recorded and that the year figures listed do not follow from adding up the individual quarterly figures. For the same reason, the percentage figures listed may not always exactly reflect the absolute numbers to which they refer.
2 The write-downs on lease assets intended for sale are accounted as fleet expenses and cost of lease assets since the financial year 2016. The figures of the previous year are adjusted accordingly.
3 Ratio of EBT to operating revenue
4 Ratio of Group surplus attributable to the Group shareholders to weighted number of shares for the period
5 Liabilities to Sixt SE (Core Loan)
6 Mainly liabilities to Sixt SE
7 Current and non-current financial liabilities, including finance leases
8 Value of vehicles added to the leasing fleet



14.03.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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March 01, 2017

Sixt Leasing the first provider to introduce a 'flat rate for the road' together with a complete online ordering process - partnership with 1&1 started

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

01.03.2017 / 10:00
The issuer is solely responsible for the content of this announcement.


Sixt Leasing the first provider to introduce a 'flat rate for the road' together with a complete online ordering process - partnership with 1&1 started

  • Forward-looking service: Flexible 12- to 30-month flat rate for a fully equipped Peugeot 208 including registration, transfer, taxes and insurance from 99.99 euros (incl. VAT)
  • Digital shopping basket: Online new vehicle order placement and contract conclusion by means of video-ident and eSign
  • Strong partner: As a cooperation partner, the mobile telephony pioneer 1&1 emphasises Sixt Leasing's innovative capacity in the area of online retail for new vehicles
  • CEO Rudolf Rizzolli: 'Our customers don't want to buy cars. They want mobility - preferably online, flexible and on the basis of an affordable all-in flat rate that they can plan with.'

Pullach, 1 March 2017 - Sixt Leasing SE, one of the largest bank- and manufacturer-independent full-service leasing companies in Germany, today began to pilot its vision of the new vehicle sales of the future. For the first time, customers can now make use of a new vehicles flat rate in an entirely digital ordering process. To launch this service in the market, the company has entered into an exclusive sales partnership with the mobile telephony and internet service provider 1&1. Thereby, Sixt Leasing is demonstrating the direction in which the new vehicles market in Germany will develop in the next few years.

Rudolf Rizzolli, CEO of Sixt Leasing SE: 'The market for new vehicles is the last major market in Germany not yet to have gone digital. Sales still almost exclusively occur conventionally via local dealerships. However, an increasing number of customers not only want to compare but also order vehicles online just like other consumer goods, ideally paying a monthly flat rate for their use that encompasses all the services and costs relating to the vehicle. Sixt Leasing is in the pole position to promote the digitalisation of this huge market, which is worth almost 100 billion euros in Germany alone.'

The new vehicles flat rate being offered within the partnership with 1&1 covers the use of a comprehensively equipped Peugeot 208 from sixt-neuwagen.de. For 99.99 euros a month (incl. VAT), the customers receive a brand-new vehicle with a full manufacturer's warranty and a carefree package comprising all the costs relating to vehicle transfer, registration, taxes and insurance. No down payments are necessary. The paintwork, duration and mileage can all be tailored to the customer's requirements. With the Flexi-Lease Option that can be booked additionally, the 12-month term can be flexibly extended to up to 30 months at a later point in time.

For the first time, the order process is supported by an entirely digital e-commerce process developed by sixt-neuwagen.de. Customers can simply place their desired configuration in the online shopping basket and perform all the order steps using their terminal device. The entire process of ordering a new vehicle based on a monthly flat rate is digital thanks to the incorporation of eSign, a video-ident procedure and an online credit check. During the promotional period, the new process is exclusively available to 1&1 customers who book a 1&1 All-Net-Flat package.

Rudolf Rizzolli: 'When we launched our sixt-neuwagen.de online platform in 2012 we created an alternative to the local dealer. Now, also printing out, filling in and signing documents as well as identification via post are a thing of the past, too. These innovations close the final analogue gap in the ordering process. The future of the new vehicles market is digital.'

The sales partnership between 1&1 and Sixt Neuwagen launched today brings together two brands that fit very well together, both of them standing for digital innovations and customer-oriented processes. The familiar principle of the flat rate, which is popular with the customers, is now also being transferred to new vehicles as a product. With its 'flat rate for the road', i.e. an all-in mobility package with instalments and with a duration that can be tailored flexibly to an individual's needs, Sixt Neuwagen is systematically expanding its service portfolio, thereby consolidating its position as a first mover in the online new vehicles market. The joint promotion will run until the end of June 2017 and will be accompanied by an advertising campaign on television as well as in online and print media.


About Sixt Leasing:

Sixt Leasing SE (WKN: A0DPRE / ISIN: DE000A0DPRE6) based in Pullach near Munich is one of Germany's leading independent vehicle leasing service providers and is also involved in fleet leasing and fleet management, both in Germany and elsewhere in Europe. With its full-service portfolio, the company enables the mobility of its private and corporate customers.

Private and commercial customers use the online platform sixt-neuwagen.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 2015 the Group generated consolidated revenues of 665 million euros.

www.sixt-leasing.com


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



01.03.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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January 26, 2017

Sixt Leasing SE successfully issues debut bond worth 250 million Euro

DGAP-News: Sixt Leasing SE / Key word(s): Issue of Debt

26.01.2017 / 17:44
The issuer is solely responsible for the content of this announcement.


Sixt Leasing SE successfully issues debut bond worth 250 million Euro

  • Coupon: 1.125% per year
  • Term: 4 years
  • Further important milestone in setting up an independent and diversified Group financing
  • CFO Björn Waldow: "The successful issue confirms the very good reputation that Sixt Leasing has established for itself since the IPO in 2015."

Pullach, 26 January 2017 - Sixt Leasing SE, one of the largest bank- and manufacturer-independent full-service leasing companies in Germany, has today successfully issued a bond with a volume of 250 million Euro on the capital market (ISIN: DE000A2DADR6 / WKN: A2DADR). For the first time after the IPO the company acted as issuer of a bond. The issue was greeted with high demand from investors both in Germany and abroad and was oversubscribed several times.

The bond has a term of four years and a coupon of 1.125% per year. With a denomination of 1,000 Euro (nominal value) the bond is also tailored to private investors.

Berenberg, Commerzbank and UniCredit acted as joint lead managers for the bond release.

Björn Waldow, CFO of Sixt Leasing SE: "Since the IPO Sixt Leasing has negotiated credit lines of several hundred million Euro and launched an ABS programme worth 500 million Euro. With this bond issue, we have reached another important milestone in setting up a Sixt SE-independent and diversified Group financing. Volume and terms of the bond confirm the very good reputation that Sixt Leasing already enjoys as an independent company on the stock market. In addition, this will enable us once again to lower our financing costs."


About Sixt Leasing
Sixt Leasing SE (WKN: A0DPRE / ISIN: DE000A0DPRE6) has its registered offices in Pullach near Munich. For about 50 years the Company has been one of the leading German mobility service providers. In addition, it is represented in further Western European countries and through strong franchise partners in around 35 countries worldwide. Sixt Leasing offers comprehensive services in its business fields Fleet Leasing, Fleet Management and Online Retail (private and commercial customer leasing).
In its Fleet Leasing business field the Company develops tailored full-service leasing solutions for corporate customers. It optimises their fleets' total cost of ownership over the long term and independent of manufacturer interests. Through its subsidiary Sixt Mobility Consulting GmbH, the Fleet Management business field offers this expertise also to customers who bought or leased their vehicles from a third party. For private and commercial customers Sixt Leasing developed the online platform www.sixt-neuwagen.de. The innovative website provides the means to configure the latest vehicle models from over 30 different car manufacturers and obtain an individual leasing offer. Customers thereby benefit from Sixt Leasing's expertise and economies of scale when buying their vehicle in the form of attractive conditions and additional services.
Since 7 May 2015 the shares of Sixt Leasing SE are traded on the Prime Standard Segment of the Frankfurt Stock Exchange. In 2015 the Group generated revenues of EUR 665 million.
www.sixt-leasing.com

Contact:
Sixt Leasing SE
Corporate Communications
Frank Elsner / Frank Paschen
Tel.: +49 (0) 89 / 99 24 96 - 30
Fax: +49 (0) 89 / 99 24 96 - 32
E-Mail: office@elsner-kommunikation.de



26.01.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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November 16, 2016

Sixt Leasing SE: Sixt Leasing expands contract portfolio and raises profitability during first nine months of 2016

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

2016-11-16 / 07:31
The issuer is solely responsible for the content of this announcement.


Sixt Leasing expands contract portfolio and raises profitability during first nine months of 2016

  • Consolidated revenue up by 7.3% to EUR 534.7 million after nine months
  • Group EBT increases above average by 9.8% to EUR 23.9 million despite higher expenditures for growth initiatives
  • Operating return on revenue improves by 11.9% to 7.5%
  • Contract portfolio gains 7.5% to 111,000 contracts
  • Reorganisation of Group financing as planned leads to improvement of financial result of EUR 1.0 million compared to second quarter 2016

Pullach, 16 November 2016 - Sixt Leasing SE, one of the largest non-bank, vendor-neutral full-service leasing companies in Germany, recorded a positive development during the first nine months of 2016 and raised its contract portfolio and profitability in line with corporate strategy. Consolidated earnings before taxes (EBT), the key parameter for measuring business success, increased by 9.8% to EUR 23.9 million despite higher expenditures for growth initiatives in the Online Retail business field (private and commercial customer leasing) and thus outperformed growth of consolidated revenue. Operating return on revenue improved to 7.5%. At the end of September 2016 the contract portfolio amounted to 111,000 contracts, an increase of 7.5% compared to the number as of 31 December 2015.

Rudolf Rizzolli, CEO of Sixt Leasing SE:
"Sixt Leasing further extended its leading position in online retail leasing in Germany through the recent advertising campaigns. As early mover we have a critical advantage on a so far largely untapped market. We aim to increase this advantage and will therefore continue to invest in advertising measures. In our opinion, the market for private and commercial customer leasing is only at the beginning of its development. This provides Sixt Leasing with substantial growth opportunities over the coming years."

Sixt Leasing Group key figures after nine months 2016

  • Group revenue for the first nine months of 2016 climbed by 7.3% compared to the same period the year before, totalling EUR 534.7 million (9M 2015: EUR 498.5 million). This growth was especially the result of higher proceeds from the sale of returned leasing vehicles and the remarketing of customer vehicles in the Fleet Management business unit.
  • Consolidated operating revenue (without the proceeds from vehicle sales) dropped slightly by 1.9% to EUR 318.4 million (9M 2015: EUR 324.5 million). The decline is mainly the result of lower fuel prices depressing the revenue from fuel. Adjusted for this effect, consolidated operating revenue increased by 1.7%.
  • Sixt Leasing recognises consolidated earnings before taxes (EBT) of EUR 23.9 million, an increase of 9.8% on the same figure the year before (9M 2015: EUR 21.7 million). EBT in Q3 was negatively impacted by expenditures of around EUR 2 million for the new vehicle broker autohaus24 GmbH that was acquired in April and its integration as well as the continuation of the TV advertising campaign. This was offset by positive effects arising from the ongoing reorganisation of the Group's financing. After the redemption of EUR 209 million from the Sixt SE Core Loan at the end of June 2016, the financial result in the third quarter improved by EUR 1.0 million compared to the second quarter 2016.
  • Operating return on revenue (EBT/operating revenue) gained in line with strategy for qualitative growth by 11.9% to 7.5% (9M 2015: 6.7%).

Björn Waldow, CFO of Sixt Leasing SE:
"The economic benefits from building-up an independent financing structure become more and more visible. Following the repayment of EUR 209 million from the Sixt SE Core Loan the financial result improved by EUR 1.0 million in the third quarter only. This effect will continue in the next quarters. By gradually redeeming the remaining loan amount of EUR 490 million, we expect further significant savings in the future."

Contract portfolio keeps growing
As of 30 September 2016 the Group's total number of contracts inside and outside Germany (excluding franchisees and cooperation partners) amounted to 111,000 contracts (31 December 2015: 103,200 contracts; +7.5%).
The gain is essentially due to the dynamic development of the Online Retail business field, whose contract portfolio improved by 22.3% to 25,800 contracts (31 December 2015: 21,100 contracts). In the Fleet Leasing business field the number of contracts totalled 47,400, which was slightly lower than at the end of the previous year (31 December 2015: 48,300; -2.0%) but 1.1% up on the figure at the end of the previous quarter.
For the Fleet Management business unit the number of contracts at the end of the third quarter climbed to 37,800, 11.9% more than on 31 December 2015 (33,800 contracts). This gain is essentially due to the complete take-over of the present Sixt Mobility Consulting AG in Switzerland as well as the acquisition of a new client.

Outlook for the year 2016
The Managing Board continues to expect the contract portfolio to expand in the full fiscal year 2016. Despite the investments in the long-term growth of the Online Retail business field, Sixt Leasing continues to expect a slight improvement in consolidated EBT. For the consolidated operating revenue in 2016 a stable development is expected compared to last year. For the Group's equity ratio the Managing Board aims to achieve a figure above the targeted minimum of 14%.
 

Contact:
Sixt Leasing SE
Corporate Communications
Frank Elsner / Frank Paschen
Tel.: +49 (0) 89 / 99 24 96 - 30
Fax: +49 (0) 89 / 99 24 96 - 32
E-Mail: office@elsner-kommunikation.de


The Sixt Leasing Group at a glance
(Figures in accordance with IFRS)1

Revenue performance

EUR million 9M 2016 9M 2015 Change % Q3 2016 Q3 2015 Change %
Leasing segment 473.0 445.6 +6.2 160.2 151.9 +5.4
Fleet Management segment 61.7 53.0 +16.4 21.1 17.5 +20.5
Consolidated revenue
- thereof consolidated operating revenue (without vehicle sales)
- thereof sales revenue
534.7

318.4
216.3
498.5

324.5
174.0
+7.3

-1.9
+24.3
181.3

107.5
73.7
169.5

108.6
60.8
+7.0

-1.0
+21.3
 

Earnings performance

EUR million 9M 2016 9M 2015 Change % Q3 2016 Q3 2015 Change %
Fleet expenses and cost of lease assets 325.6 301.5 +8.0 111.1 101.6 +9.4
Personnel expenses 18.4 15.1 +21.6 6.7 4.6 +43.4
Depreciation and amortisation 135.9 133.4 +1.9 44.8 45.3 -1.1
Net other operating
income/expense
-15.7 -11.2 +40.4 -6.7 -4.6 +45.7
Net finance costs -15.2 -15.6 -2.1 -4.3 -5.3 -17.8
Earnings before taxes (EBT) 23.9 21.7 +9.8 7.6 8.0 -4.5
Operating return on revenue (%)2 7.5 6.7 +0.8 points 7.1 7.4 -0.3 points
Income tax expenses 6.4 5.8 +10.8 2.2 2.1 +3.3
Consolidated profit/loss 17.5 15.9 +9.5 5.5 5.9 -7.3
Undiluted earnings per share
(in EUR)3
0.85 0.88 - 0.27 0.29 -
 

Balance sheet figures

in EUR million 30.09.2016 31.12.2015 Change in %
Total equity and liabilities 1,139.0 1,112.9 +2.3
Lease assets 996.1 957.8 +4.0
Non-current liabilities to related parties4 490.0 699.0 -29.9
Current liabilities to related parties5 3.5 4.0 -12.6
Other financial liabilities6 322.3 97.3 >+100
Equity 187.6 178.3 +5.2
Equity ratio (%) 16.5 16.0 +0.5 points
  9M 2016 9M 2015 Change in %
Investments in lease assets7) 343.6 319.1 +7.7
 

1 Due to rounding it is possible that individual figures in this release cannot be added up to the amount recorded. For the same reason, the percentage figures may not always exactly reflect the absolute numbers to which they refer.
2 Ratio of EBT to operating revenue
3 Ratio of consolidated profit attributable to the Group shareholders to weighted number of shares for the period
4 Liabilities to Sixt SE
5 Mainly liabilities to Sixt SE
6 Current and non-current financial liabilities, including finance leases
7 Value of vehicles added to the leasing fleet



2016-11-16 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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August 30, 2016

Sixt Leasing (Switzerland) AG executes full takeover of SXB Managed Mobility AG in Switzerland

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

2016-08-30 / 08:30
The issuer is solely responsible for the content of this announcement.


Sixt Leasing (Switzerland) AG executes full takeover of SXB Managed Mobility AG in Switzerland

  • Acquisition of remaining 50% of joint venture with Swisscom subsidiary Business Fleet Management AG
  • Further step in the internationalisation of the Fleet Management business segment

Pullach / Urdorf, 30 August 2016 - Sixt Leasing SE, one of the largest non-bank and manufacturer-independent full-service leasing companies in Germany, has acquired the remaining 50% interest in SXB Managed Mobility AG via its subsidiary Sixt Leasing (Schweiz) AG. SXB Managed Mobility, which has its headquarters in Urdorf (near Zurich) in Switzerland, is a fleet management specialist and was founded in April 2015 as an equal joint venture between Sixt Leasing (Schweiz) and Business Fleet Management AG, a 100% subsidiary of Swisscom. With the takeover, Sixt Leasing will be taking a further step in the internationalisation of its Fleet Management segment.

Following the acquisition, Swisscom will remain a customer of SXB Managed Mobility. The fleet specialist will thus continue to manage the Swiss telecommunications company's fleet of approx. 3,200 vehicles. SXB Managed Mobility acts as an expert contact point for all questions relating to fleet management and fleet optimisation. It supports both small and medium enterprises as well as major international corporate groups.

Rudolf Rizzoli, CEO of Sixt Leasing SE: "With the complete takeover of SBX Managed Mobility, we are driving forward internationalisation in the fleet management segment in a manner that conforms with our strategy and strengthening our corporate hold on the Swiss market. As a mobility partner, we will provide comprehensive support to our customers and advise them on optimising their fleet, such as in terms of saving costs, improving their processes and reducing CO2 emissions. I am pleased that we will continue to work closely with Swisscom."

--

About Sixt Leasing
Sixt Leasing SE (WKN: A0DPRE / ISIN: DE000A0DPRE6) has its registered offices in Pullach near Munich. For about 50 years the Company has been one of the leading German mobility service providers. In addition, it is represented in further Western European countries and through strong franchise partners in around 35 countries worldwide. Sixt Leasing offers comprehensive services in its business fields Fleet Leasing, Fleet Management and Online Retail (private and commercial customer leasing).
In its Fleet Leasing business field the Company develops tailored full-service leasing solutions for corporate customers. It optimises their fleets' total cost of ownership over the long term and independent of manufacturer interests. Through its subsidiary Sixt Mobility Consulting GmbH, the Fleet Management business field offers this expertise also to customers who bought or leased their vehicles from a third party. For private and commercial customers Sixt Leasing developed the online platform www.sixt-neuwagen.de. The innovative website provides the means to configure the latest vehicle models from over 30 different car manufacturers and obtain an individual leasing offer. Customers thereby benefit from Sixt Leasing's expertise and economies of scale when buying their vehicle in the form of attractive conditions and additional services.
Since 7 May 2015 the shares of Sixt Leasing SE are traded on the Prime Standard Segment of the Frankfurt Stock Exchange. In 2015 the Group generated revenues of EUR 665 million.
www.sixt-leasing.com

Contact:
Sixt Leasing SE
Corporate Communications
Frank Elsner / Frank Paschen
Tel.: +49 (0) 89 / 99 24 96 - 30
Fax: +49 (0) 89 / 99 24 96 - 32
E-Mail: office@elsner-kommunikation.de



2016-08-30 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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August 17, 2016

Sixt Leasing after first half year 2016 fully in line with plan

DGAP-News: Sixt Leasing SE / Key word(s): Half Year Results

2016-08-17 / 07:31
The issuer is solely responsible for the content of this announcement.


Sixt Leasing after first half year 2016 fully in line with plan

  • Consolidated revenue up by 7.4% to EUR 353.4 million
  • Consolidated earnings before taxes (EBT) grow above average by 18.2% to EUR 16.2 million, and even by 26.9% in Q2
  • Operating return on revenue improves by 20.3% to 7.7%
  • Contract portfolio grows 1.8% to 105,200 contracts compared to year end 2015
  • Online Retail business field continues its dynamic development
  • Significant progress made in reorganising the Group financing
  • Managing Board confirms economic targets for full year 2016

Pullach, 17 August 2016 - In the first half of 2016, Sixt Leasing SE, one of the largest non-bank, vendor-neutral full-service leasing companies in Germany, performed fully in line with internal expectations and managed to raise profitability still further. Consolidated earnings before taxes (EBT), the key performance indicator for measuring business success, climbed by 18.2% to EUR 16.2 million against the same period last year and thereby improved substantially faster than consolidated revenue. Operating return on revenue grew to 7.7%. At the end of June 2016 the contract portfolio held 105,200 contracts, exceeding the level at the end of 2015 by 1.8%. Consequently, the Managing Board affirms its economic targets for full-year 2016.

Rudolf Rizzolli, CEO of Sixt Leasing SE: "Sixt Leasing followed up on its encouraging start to the year and recorded a good first six months. This development was not least supported by the continued dynamic performance in the Online Retail business field. Through another TV campaign, starting in the third quarter, we want to sustainably increase the brand awareness of 'Sixt Neuwagen'. Moreover, by acquiring autohaus24 GmbH, we secured an additional platform to extend our competitive lead in private and commercial customer leasing and turn additional customer contacts into actual contracts. For the Sixt Leasing Group the top priority for the second half of the year will be to continue on the track of qualitative growth, so that we can continue to improve profitability."

Key figures for H1 2016

  • Consolidated revenue rose by 7.4% to EUR 353.4 million (H1 2015: EUR 329.1 million) mainly due to higher proceeds from the sale of used leasing vehicles.
  • Operating revenue (without proceeds from sales of used leasing vehicles) dropped slightly by 2.3% to EUR 210.9 million (H1 2015: EUR 215.9 million). The decrease is mainly attributable to lower income from fuel services due to price declines. Adjusted by this effect, operating revenue rose by 1.7%.
  • Proceeds from sales of used leasing vehicles (sales revenue) climbed substantially by 25.9% to EUR 142.5 million after EUR 113.2 million for the same period last year. This gain mainly reflects the higher number of vehicles being returned after the strong expansion of the contract portfolio over the last few years in the Leasing business unit. In addition, the increasing number of vehicles which are being marketed for Fleet Management customers did also impact this development.
  • The Group generated consolidated earnings before taxes (EBT) of EUR 16.2 million, an increase of 18.2% compared to the same number last year (H1 2015: EUR 13.7 million).
  • The operating return on revenue (EBT/operating revenue) improved by 20.3% to 7.7% (H1 2015: 6.4%).

Key figures for Q2 2016

  • During Q2 2016 consolidated revenue climbed 9.4% to EUR 179.1 million (Q2 2015: EUR 163.8 million).
  • Operating revenue (without sales revenue) dropped slightly by 2.1% to EUR 107.5 million (Q2 2015: EUR 109.9 million).
  • For Q2 2016 Sixt Leasing generated EBT of EUR 8.2 million, which was 26.9% higher than in the same quarter last year (Q2 2015: EUR 6.4 million).

Further growth of contract portfolio
As at reporting date, 30 June 2016, the Group's total number of contracts inside and outside Germany (excluding franchisees and cooperation partners) increased to 105,200 contracts, 1.8% more than the number recorded on 31 December 2015 (103,200 contracts).

The number of contracts under management in the Fleet Leasing business field declined slightly by 3.0% to 46,900 (31 December 2015: 48,300 contracts), mainly due to orders being reallocated from the first to the second half of 2016. The Managing Board therefore still expects that at the end of 2016 the Fleet Leasing's contract portfolio will reach a level slightly higher than at the end of last year.

In the first half of 2016, the number of contracts in the Online Retail business field climbed higher than expected. Thus, as of 30 June 2016, 24,400 Online Retail contracts were counted in Sixt Leasing's portfolio, a gain of 15.5% compared to the end of 2015 (21,100 contracts).

In the Fleet Management business unit the number of contracts went slightly up by 0.2% to 33,900 contracts, compared to 33,800 contracts at the end of 2015.

Reorganising of the Group's financing makes significant progress
As at 30 June 2016, Sixt Leasing Group's equity totalled EUR 182.1 million, EUR 3.8 million higher than at 31 December 2015 (EUR 178.3 million). By the decision of the Annual General Meeting on 1 June 2016, a total dividend of EUR 8.2 million was distributed to the shareholders of Sixt Leasing SE.

At 15.4% the equity ratio remained above the targeted long-term minimum of 14.0%.

The conversion of the Group's financing announced during the IPO in May 2015 continues to remain fully on schedule. In May 2016 the Company successfully placed its first borrower's note loan at a volume of EUR 30 million with institutional investors. At the end of June 2016 Sixt Leasing successfully launched the asset back securities (ABS) programme, it had previously announced. After integrating a second bank into the programme in July, the target volume of EUR 500 million was reached. This means that another essential financial component has been successfully established.

At the end of the first half of 2016, and therefore at the earliest possible time, another repayment of EUR 209 million was made on the core loan facility provided by Sixt SE.

As the conditions of the new external financing instruments are significantly more favourable than the 3% interest charged on the core loan facility, it is expected to generate significant savings in interest expenses for the second half of the year. The next repayment possibilities at the end of June 2017 and 2018 are set to amplify this effect still further.

Performance of the business units
The Sixt Leasing Group divides its operative business into the two business units (segments) Leasing (with the business fields Fleet Leasing and Online Retail) and Fleet Management (with the subsidiary Sixt Mobility Consulting GmbH).

Leasing business unit:
The Leasing business unit expanded its total revenue (including sales revenue) by 6.6% to EUR 312.9 million in the first half of 2016. The operating revenue from leasing transactions (finance leasing and services) decreased slightly by 2.0% to EUR 194.9 million, above all as attributable to lower income from fuel services due to price declines. Adjusted by this effect, operating revenue increased by 1.9 %. The segment's result (EBT) for the first six months of the year improved by 18.7% from EUR 12.3 million to EUR 14.7 million.

In April 2016 Sixt Leasing acquired 100% interest in the vehicle broker platform autohaus24 GmbH. The acquisition provides the Group's Online Retail business field another access route to the dynamically expanding online car market. autohaus24.de functions as a second platform next to sixt-neuwagen.de that allows customers to obtain leasing and Vario-financing offers. Before the acquisition the company was run as joint venture held in equal shares by Sixt Ventures GmbH and the Axel Springer Auto Verlag GmbH.

Fleet Management business unit:
Over the first six months, the Fleet Management business unit generated 14.3% higher revenue, totalling EUR 40.5 million. Declining revenue for fleet management was offset by substantially higher sales of used leasing vehicles for customers. Earnings before taxes (EBT) improved by 13.5% from EUR 1.4 million to EUR 1.6 million.

Outlook for the year 2016
Looking ahead to the full fiscal year 2016, the Managing Board of Sixt Leasing SE projects further growth in the contract portfolio. The expectation for the Online Retail business field is to keep up the dynamic development so that its contracts portfolio is set to climb to 32,000 contracts by the end of 2017. In the Fleet Leasing business field, it is target to achieve a slight growth in the contract portfolio during 2016. The Fleet Management business unit is expected to take another step towards the mid-term target of 50,000 contracts during the current year. The management focuses on expanding the presence in Europe by taking under management parts of customers' international fleets.

For the full fiscal year 2016 the Managing Board continues to expect consolidated operating revenue to grow by a lower to mid-range single-digit percentage figure compared to last year, accompanied by an improvement of consolidated EBT. The Group's equity ratio is expected to remain above the targeted minimum of 14%.

--

The Interim Report on H1 2016 by Sixt Leasing SE is available for download from the company's website at http://ir.sixt-leasing.com/interim-reports.

Contact:
Sixt Leasing SE
Corporate Communications
Frank Elsner / Frank Paschen
Tel.: +49 (0) 89 / 99 24 96 - 30
Fax: +49 (0) 89 / 99 24 96 - 32
E-Mail: office@elsner-kommunikation.de


The Sixt Leasing Group at a Glance
(Figures in accordance with IFRS)1
 

Revenue performance

EUR million H1 2016 H1 2015 Change % Q2 2016 Q2 2015 Change %
Leasing segment 312.9 293.6 +6.6 159.6 146.9 +8.6
Fleet Management segment 40.5 35.5 +14.3 19.5 16.8 +15.9
Consolidated revenue
thereof consolidated operating revenue (without sales from used leasing vehicles)
thereof sales revenue
353.4

210.9
142.5
329.1

215.9
113.2
+7.4

-2.3
+25.9
179.1

107.5
71.5
163.8

109.9
53.9
+9.4

-2.1
+32.8
 

Earnings performance

EUR million H1 2016 H1 2015 Change % Q2 2016 Q2 2015 Change %
Fleet expenses and cost of lease assets 214.5 200.0 +7.3 108.8 97.5 +11.6
Personnel expenses 11.7 10.5 +12.0 6.1 5.2 +18.1
Depreciation and amortisation 91.1 88.0 +3.4 45.7 44.9 +1.9
Net other operating
income/expense
-9.0 -6.5 +37.0 -4.9 -4.4 +11.2
Net finance costs -10.9 -10.3 +5.9 -5.3 -5.3 -0.3
Earnings before taxes (EBT) 16.2 13.7 +18.2 8.2 6.4 +26.9
Operating return on revenue (%)2 7.7 6.4 +1.3 points 7.6 5.9 +1.7 points
Income taxes 4.3 3.7 +15.0 2.1 2.0 +3.5
Consolidated profit/loss 12.0 10.0 +19.4 6.1 4.4 +37.4
Undiluted earnings per share
(in EUR)3
0.58 0.59 - 0.29 0.22 -
 

Balance sheet figures

in EUR million 30.06.2016 31.12.2015 Change in %
Total equity and liabilities 1,182.7 1,112.9 +6.3
Lease assets 974.9 957.8 +1.8
Non-current liabilities to related parties4 490.0 699.0 -29.9
Current liabilities to related parties5 4.0 4.0 -2.3
Other financial liabilities6 354.4 97.3 >+100%
Equity 182.1 178.3 +2.1
Equity ratio (%) 15.4 16.0 -0.6 points
  H1 2016 H1 2015 Change in %
Investments in lease assets7) 222.4 210.3 +5.7


1 Due to rounding selected figures in this press release may not add up to the amount recorded. For the same reason, some percentage figures listed may also not exactly reflect the absolute numbers to which they refer.
2 Ratio of EBT to operating revenue
3 Ratio of Group surplus attributable to the Group shareholders to weighted number of shares for the period.
4 Liabilities to Sixt SE
5 Mainly liabilities to Sixt SE
6 Current and non-current financial liabilities, including finance leases
7 Value of vehicles added to the leasing fleets



2016-08-17 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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July 29, 2016

Sixt Leasing raises ABS programme to EUR 500 million

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

2016-07-29 / 08:44
The issuer is solely responsible for the content of this announcement.


Sixt Leasing raises ABS programme to EUR 500 million

  • Hence further financing building block successfully completed

Pullach, 29 July 2016 - Sixt Leasing SE, one of the largest non-bank, vendor-neutral full-service leasing companies in Germany, at the end of July ramped up its asset backed securities (ABS) programme as planned to the target volume of EUR 500 million.

After having launched the ABS programme in the end of June with Commerzbank AG, now a second bank, the Landesbank Baden-Württemberg (LBBW), was successfully integrated into the programme. Both banking partners provide a financing volume of EUR 250 million each.

Björn Waldow, CFO of Sixt Leasing SE: "We are delighted that only one month after starting the ABS programme we could get another bank on board. With reaching the target volume of EUR 500 million, we were able to complete the next building block of our intended financing mix. Hence, we are fully on target regarding the reorganisation of the Group financing to external sources."


About Sixt Leasing
Sixt Leasing SE (WKN: A0DPRE / ISIN: DE000A0DPRE6) has its registered offices in Pullach near Munich. For about 50 years the Company has been one of the leading German mobility service providers. In addition, it is represented in further Western European countries and through strong franchise partners in around 35 countries worldwide. Sixt Leasing offers comprehensive services in its business fields Fleet Leasing, Fleet Management and Online Retail (private and commercial customer leasing).
In its Fleet Leasing business field the Company develops tailored full-service leasing solutions for corporate customers. It optimises their fleets' total cost of ownership over the long term and independent of manufacturer interests. Through its subsidiary Sixt Mobility Consulting GmbH, the Fleet Management business field offers this expertise also to customers who bought or leased their vehicles from a third party. For private and commercial customers Sixt Leasing developed the online platform www.sixt-neuwagen.de. The innovative website provides the means to configure the latest vehicle models from over 30 different car manufacturers and obtain an individual leasing offer. Customers thereby benefit from Sixt Leasing's expertise and economies of scale when buying their vehicle in the form of attractive conditions and additional services.
Since 7 May 2015 the shares of Sixt Leasing SE are traded on the Prime Standard Segment of the Frankfurt Stock Exchange. In 2015 the Group generated revenues of EUR 665 million.
www.sixt-leasing.com

Contact:
Sixt Leasing SE
Corporate Communications
Frank Elsner / Frank Paschen
Tel.: +49 (0)89/ 99 24 96 - 30
Fax: +49 (0)89/ 99 24 96 - 32
Email: office@elsner-kommunikation.de



2016-07-29 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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June 30, 2016

Sixt Leasing starts ABS programme

DGAP-News: Sixt Leasing AG / Key word(s): Financing

2016-06-30 / 08:00
The issuer is solely responsible for the content of this announcement.


Sixt Leasing starts ABS programme

Pullach, 30 June 2016 - Sixt Leasing AG, one of the largest non-bank, vendor-neutral full-service leasing companies in Germany, at the end of June successfully launched the asset backed securities (ABS) programme it had previously announced. The programme is geared to refinance leasing contracts and thereby serves as another central building block to the company's financing mix.

As a first step the ABS programme starts out with Commerzbank AG, which is providing a financing volume of EUR 250 million. The plan is for more banks to be joining the programme over the next months, in order to reach the mid-term target level of EUR 500 million.

In turn, another tranche of EUR 209 million from the Core Loan, which is provided by Sixt SE, has been redeemed at the end of the first half of 2016 in line with plan.

Björn Waldow, CFO of Sixt Leasing AG: "Starting the ABS programme and paying back almost one third of the outstanding inter-company financing, brought us a significant step closer to our goal of building up an independent external financing for the Sixt Leasing AG. The repayment was made at the earliest possible time and thereby allows us to significantly lower our interest rate expenses."


About Sixt Leasing:
Sixt Leasing AG (WKN: A0DPRE / ISIN: DE000A0DPRE6) has its registered offices in Pullach near Munich. For over 50 years already the Company has been one of the leading German mobility service providers. In addition, it is represented in further Western European countries and through strong franchise partners in around 35 countries worldwide. Sixt Leasing offers comprehensive services in its business fields Fleet Leasing, Fleet Management and Online Retail (private and commercial customer leasing).
In its Fleet Leasing business field the Company develops tailored full-service leasing solutions for corporate customers. It optimises their fleets' total cost of ownership over the long term and independent of manufacturer interests. Through its subsidiary Sixt Mobility Consulting GmbH, the Fleet Management business field offers this expertise also to customers who bought or leased their vehicles from a third party. For private and commercial customers Sixt Leasing developed the online platform www.sixt-neuwagen.de. The innovative website provides the means to configure the latest vehicle models from over 30 different car manufacturers and obtain an individual leasing offer. Customers thereby benefit from Sixt Leasing's expertise and economies of scale when buying their vehicle in the form of attractive conditions and additional services.
Since 7 May 2015 the shares of Sixt Leasing AG are traded on the Prime Standard Segment of the Frankfurt Stock Exchange. In 2015 the Group generated revenues of EUR 665 million.
www.sixt-leasing.com


Contact:
Sixt Leasing AG
Corporate Communications
Frank Elsner / Frank Paschen
Tel.: +49 (0)89/ 99 24 96 - 30
Fax: +49 (0)89/ 99 24 96 - 32
Email: office@elsner-kommunikation.de



2016-06-30 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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May 12, 2016

Sixt Leasing raises profitability still further during Q1 2016

DGAP-News: Sixt Leasing AG / Key word(s): Quarterly / Interim Statement

2016-05-12 / 07:30
The issuer is solely responsible for the content of this announcement.


Sixt Leasing raises profitability still further during Q1 2016

  • Consolidated revenue climbs 5.4% year-on-year to EUR 174.3 million
  • Group EBT improves above average by 10.5% to EUR 8.1 million
  • Return on operating revenue up by 13.3% to 7.8%
  • Contract portfolio increases by 6.7% to 105,000 contracts
  • Contract portfolio in the Online Retail business field grows almost one third to 23,000 contracts
  • Acquisition of autohaus24 strengthens growth strategy of Online Retail
  • Transfer of Group financing to external financing partners fully in line with plan
  • Managing Board confirms business targets for full year 2016

Pullach, 12 May 2016 - In Q1 2016, Sixt Leasing AG, one of the largest non-bank, vendor-neutral full-service leasing companies in Germany, maintained the successful business performance of last year and managed to raise its profitability still further. Consolidated earnings before taxes (EBT), the key parameter for measuring business success, climbed 10.5% to EUR 8.1 million and thus above the average of consolidated revenue. Return on operating revenue consequently went up to 7.8%. At the end of March 2016 the contract portfolio held 105,000 contracts, some 6.7% more than at the same reporting date in 2015. This development was mainly due to the growth recorded in the Online Retail business field (private and commercial customer leasing) which expanded by almost one third. Against this background the Managing Board affirmed its business targets for the full year 2016.

Dott. Rudolf Rizzolli, CEO of Sixt Leasing AG: 'Sixt Leasing recorded a successful first quarter 2016 and is fully in line with plan. The success of the first TV ad campaign we launched for our sixt-neuwagen.de online platform is also very encouraging. It saw the brand awareness of Sixt Neuwagen shoot up. Given our ambitious growth plans we are examining if in future will we continue to count on such far-reaching marketing campaigns to secure and expand our position as first mover in online leasing for private and commercial customers.'

Key figures for the Group in Q1 2016

  • Year-on-year consolidated revenue rose 5.4 % to EUR 174.3 million (Q1 2015: EUR 165.3 million), mainly through higher proceeds from the sale of used leasing vehicles.
  • Operating revenue (without the proceeds from sales) dropped slightly by 2.5% to EUR 103.4 million (Q1 2015: EUR 106.0 million). This decrease is mainly attributable to lower income from fuel services due to price declines. Adjusted by fuel service income, the quarterly operating revenue increased from the previous year's first quarter by 1.1%.
  • Sales proceeds climbed substantially, up by 19.6% to EUR 71.0 million after EUR 59.3 million for the same period the year before. This gain reflects the higher number of vehicles being returned after the strong expansion of the contract portfolio over the last few years as well as the increasing number of vehicles which are being marketed on customers' behalf in the Fleet Management segment.
  • Sixt Leasing Group generated consolidated earnings before taxes (EBT) of EUR 8.1 million, an increase of 10.5% compared to the same figure the year before (EUR 7.3 million).
  • The operating return on revenue (EBT/operating revenue) gained in line with strategy and climbed 13.3% to 7.8% (Q1 2015: 6.9%).

Private and commercial customers: contract portfolio increased by almost one third
As at reporting date, 31 March 2016, the Group's total number of contracts inside and outside Germany (excluding franchisees and cooperation partners) increased to 105,000 or 5.7% more than the 98,400 contracts recorded at the end of March 2015. The number of contracts managed by the Online Retail business field was up by 31.3% to 23,000 contracts.

Strong equity ratio, credit lines of over EUR 350 million negotiated
As at 31 March 2016 the Sixt Leasing Group recorded consolidated equity of EUR 184.1 million, some EUR 5.8 million more than at 31 December 2015. The equity ratio improved from 16.0% to 16.4% and remained above the targeted minimum level of 14%.

Transferring the Group financing to external partners as announced during the IPO in May 2015 remains fully on schedule. As at the end of April, credit lines of over EUR 350 million had been negotiated with bank partners. In addition, a borrower's note loan in the amount of EUR 30 million was successfully placed on the capital market in the beginning of May. It is also expected to conclude an ABS-financing structure ('Asset Backed Securities') with a volume of up to EUR 500 million by mid-2016. The new, external financing agreements are supposed to reduce interest costs substantially over the next few years.

Performance of the business units
The Sixt Leasing Group divides its operative business into the two business units (segments) Leasing (divided into the Fleet Leasing and Online Retail business fields) and Fleet Management.

Leasing business unit:
The Leasing business unit's total revenue (including sales proceeds) gained 4.5% during the first quarter of 2016 to EUR 153.3 million. The operating revenue from leasing transactions (finance leasing and services) decreased slightly by 2.2% to EUR 95.6 million, above all as a result of lower income from fuel services due to petrol price declines. Adjusted by fuel service income, the quarterly operating revenue climbed by 1.4%. EBT improved by 10.5% to EUR 7.5 million.

The Online Retail business field started the year with a TV ad campaign that triggered significantly more direct customer leads and helped the unsupported brand awareness of Sixt Neuwagen to rise.

At the end of April 2016 Sixt Leasing acquired 100% of the shares in autohaus24 GmbH to give it another access route to the strongly growing online vehicle market for private and commercial customers. autohaus24.de had previously been a joint venture held in equal shares by Sixt Ventures GmbH and Axel Springer Auto Verlag GmbH. The company ranks as one of the leading internet brokers for new vehicles in Germany. Through integrating leasing and financing offers on autohaus24.de, the high brand awareness and strong lead volume of autohaus24 can be utilised to conclude additional leasing and financing contracts.

As at 31 March 2016 the segment's number of contracts came to 71,600, an increase of 6.4% (31 March 2015: 67,300 contracts). The main driver of this increase was the dynamic development of the Online Retail business field (+31.3% to 23,000 contracts). The Fleet Leasing business field held 48,600 contracts, some 2.4% below the figure at the end of March 2015, but slightly up on the level recorded at the end of 2015.

Fleet Management business unit:
Total revenue of the Fleet Management business unit, which is operated by Sixt Mobility Consulting GmbH, grew in the reporting period by 13.0% to EUR 21.0 million. Receding revenue from fleet management was offset by substantially higher sales from marketing vehicles on behalf of customers. Earnings before taxes (EBT) improved 11.1% to EUR 0.6 million. The number of contracts held by the segment expanded 7.5% to 33,400 contracts (31 March 2015: 31,100 contracts).

Outlook for the year 2016
Looking ahead to the full fiscal year 2016, the Managing Board projects further growth in the contract portfolio. The Online Retail business field is expected to keep up its dynamic development unchanged, with the number of contracts climbing above 32,000 by the end of 2017. In the Fleet Leasing business field the aim for 2016 is to achieve low single-digit growth in the contract portfolio. The Fleet Management business unit is expected to make a further step during the current year towards its medium-term target of around 50,000 contracts. In all this, Sixt Leasing intends to continue on its track of profitable growth.

Moreover, Sixt Leasing will continue to drive forward the reorganisation of the Group financing announced during the IPO in May 2015, which is set to bring interest costs down significantly.

For the full fiscal year 2016 the Managing Board expects operating revenue to expand by a lower to medium-range single-digit percentage figure compared to 2015, combined with a corresponding improvement of consolidated EBT, reflecting the growth in higher-margin businesses.

--

Contact:
Sixt Leasing AG
Corporate Communications
Frank Elsner
Tel.: +49 (0) 89 / 99 24 96 - 30
Fax: +49 (0) 89 / 99 24 96 - 32
E-Mail: office@elsner-kommunikation.de

--

The Sixt Leasing Group at a glance
(Figures in accordance with IFRS)1
 

Revenue performance

in EUR million Q1 2016 Q1 2015 Change in %
Leasing segment 153.3 146.7 +4.5
Fleet Management segment 21.0 18.6 +13.0
Consolidated revenue 174.3 165.3 +5.4
   thereof consolidated operating revenue (finance leasing &
   services)
103.4 106.0 -2.5
   thereof sales revenue 71.0 59.3 +19.6
 

Earnings performance

in EUR million Q1 2016 Q1 2015 Change in %
Fleet expenses and cost of lease assets 105.7 102.5 +3.1
Personnel expenses 5.6 5.3 +5.9
Depreciation and amortisation 45.3 43.2 +5.0
Net other operating income/expense -4.1 -2.1 +90.4
Net finance costs -5.6 -5.0 +12.5
Earnings before taxes (EBT) 8.1 7.3 +10.5
Operating return on revenue (%)2 7.8 6.9 +13.3
Income tax 2.2 1.7 +28.3
Consolidated profit 5.9 5.6 +5.0
Earnings per share - basic (in EUR)3 0.29 0.37 -23.4
 

Balance sheet figures

in EUR million 31 March 2016 31 Dec 2015 Change in %
Total equity and liabilities 1,121.1 1,112.9 +0.7
Lease assets 966.3 957.8 +0.9
Non-current liabilities to related parties4 490.0 699.0 -29.9
Current liabilities to related parties5 212.7 4.0 >+100
Other financial liabilities6 103.3 97.3 +6.2
Equity 184.1 178.3 +3.3
Equity ratio (%) 16.4 16.0 +0.4 points
  Q1 2016 Q1
2015
Change in %
Investments in lease assets7 106.4 99.8 +6.5
 

1 Due to rounding it is possible that selected figures in this release cannot be added up to the amount recorded and that the annual figures listed do not follow from adding up the individual quarterly figures. For the same reason, the percentage figures listed may not always exactly reflect the absolute numbers to which they refer.
2 Ratio of EBT to operating revenue
3 Ratio of consolidated profit attributable to the Group's shareholders to weighted number of shares for the period
4 Liabilities to Sixt SE
5 Mainly liabilities to Sixt SE
6 Current and non-current financial liabilities, including finance leases
7 Value of vehicles added to the leasing fleet



2016-05-12 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.
Media archive at www.dgap-medientreff.de and www.dgap.de


 

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May 11, 2016

Sixt Leasing places first borrower's note loan

DGAP-News: Sixt Leasing AG / Key word(s): Bond

2016-05-11 / 08:33
The issuer is solely responsible for the content of this announcement.


Pullach, 11 May 2016 - Sixt Leasing AG, one of the largest non-bank, vendor-neutral full-service leasing companies in Germany, successfully placed its first borrower's note loan with institutional investors at a volume of EUR 30 million and thus accessed another financing instrument.

The note loan is unsecured and comes with a term of four years. Its margin was fixed at the lower end of the marketing range. The issue was arranged by the Bayerische Landesbank (BayernLB).

Björn Waldow, CFO of Sixt Leasing AG: "We are delighted to have taken another successful step on the debt capital market one year after our IPO. Alongside the bilateral credit lines and the planned ABS structure, the borrower's note loan is an additional component in our financing mix to take us towards an independent and diversified financing structure."

Sixt Leasing
Sixt Leasing AG (WKN: A0DPRE / ISIN: DE000A0DPRE6) has its registered offices in Pullach near Munich. For over 50 years already the Company has been one of the leading German mobility service providers. In addition, it is represented in further Western European countries and through strong franchise partners in around 35 countries worldwide. Sixt Leasing offers comprehensive services in its business fields Fleet Leasing, Fleet Management and Online Retail (private and commercial customer leasing).
In its Fleet Leasing business field the Company develops tailored full-service leasing solutions for corporate customers. It optimises their fleets' total cost of ownership over the long term and independent of manufacturer interests. Through its subsidiary Sixt Mobility Consulting GmbH, the Fleet Management business field offers this expertise also to customers who bought or leased their vehicles from a third party. For private and commercial customers Sixt Leasing developed the online platform www.sixt-neuwagen.de. The innovative website provides the means to configure the latest vehicle models from over 30 different car manufacturers and obtain an individual leasing offer. Customers thereby benefit from Sixt Leasing's expertise and economies of scale when buying their vehicle in the form of attractive conditions and additional services.
Since 7 May 2015 the shares of Sixt Leasing AG are traded on the Prime Standard Segment of the Frankfurt Stock Exchange. In 2015 the Group generated revenues of EUR 665 million.
www.sixt-leasing.com

Contact:
Sixt Leasing AG
Corporate Communications
Frank Elsner / Frank Paschen
Tel.: +49 (0)89/ 99 24 96 - 30
Fax: +49 (0)89/ 99 24 96 - 32
Email: office@elsner-kommunikation.de



2016-05-11 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.
Media archive at www.dgap-medientreff.de and www.dgap.de


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March 14, 2016

Sixt Leasing AG: contract portfolio exceeds 100,000 threshold for the first time in 2015 - Pre-tax earnings (EBT) up 18.2% to EUR 30.3 million

DGAP-News: Sixt Leasing AG / Key word(s): Preliminary Results/Final Results

2016-03-14 / 10:00
The issuer is solely responsible for the content of this announcement.


Sixt Leasing: contract portfolio exceeds 100,000 threshold for the first time in 2015 - Pre-tax earnings (EBT) up 18.2% to EUR 30.3 million

  • Consolidated revenue up by 15.7% to EUR 665.4 million
  • Return on operating revenue climbs 17.7% to 7.0%
  • Successful focus on qualitative growth and margin optimisation in the fleet business
  • Above-average growth in high-yield business with private and commercial customers (Online Retail) to 21,100 contracts (+33.7%)
  • Proceeds from marketing of vehicle returns in the Online Retail business field higher than expected
  • Restructuring of Group financing fully on target
  • Dividend of EUR 0.40 per share planned for 2015
  • Dott. Rudolf Rizzolli, CEO: 'In 2015 Sixt Leasing achieved all its targets and recorded the most successful year in the company's history. For 2016 we expect further growth in revenue and earnings.'


Pullach, 14 March 2016 - Sixt Leasing AG, one of the largest non-bank, vendor-neutral full service leasing companies in Germany, recorded a business development in 2015 that was fully in line with its own expectations. The Group's three business fields performed successfully. The Fleet Leasing business field consistently implemented the strategy of profitable growth with high and reliable income. The high-margin business field Online Retail with its platform sixt-neuwagen.de, which targets private and commercial customers, grew exponentially and improved its market position. It succeeded above all in significantly improving the number of contracts offering additional service packages, and substantially increased customer retention. The Fleet Management business field expanded its contract portfolio through successful key account acquisition and kicked off the internationalisation of its operations.

According to provisional calculations, the Sixt Leasing Group's earnings before taxes (EBT) climbed 2015 by 18.2% to EUR 30.3 million. Total Group revenue climbed 15.7% to EUR 665.4 million. The EBT margin (in relation to operating revenue) improved further, by 17.7% to 7.0%. At the end of 2015, the Group's contract portfolio totalled 103,200 contracts, some 6.0% more than the figure recorded for the previous year, and thus for the first time above 100,000. Shareholders are set to benefit from the good business development in 2015 through payment of a dividend of EUR 0.40 per share.

Today Sixt Leasing announces the key performance indicators of the preliminary consolidated statements at its annual press conference in Munich.
 

Dott. Rudolf Rizzolli, CEO of Sixt Leasing AG: '2015 was the most successful year for Sixt Leasing in its corporate history. For one thing, the IPO in May 2015 created the preconditions for us to pursue our strategic objectives independently and to build up our own financing structure. For another thing, in the preceding fiscal year we were spot on in reaching our growth and earnings expectations. Fleet Leasing continued its path of profitable growth and managed to increase the rate of return in its contract portfolio. The Online Retail business field is growing above average and is continually gaining market shares. Besides, we have registered a gratifying trend over the last few months of generating good remarketing results with the vehicles returned from the private and commercial customer business. The Fleet Management business field, where we offer our expertise built up over years of managing large fleets also without lease financing, managed to expand total revenue and profitability as well as its presence in Europe. We will continue this sustainable Group strategy over the coming years.'


Key figures for the Group in 2015

  • Year-on-year consolidated revenue rose 15.7% to EUR 665.4 million (2014: EUR 575.0 million). The strong growth is mainly the result of higher proceeds from the sale of returned vehicles.
  • Operating revenue (without sales revenue) increased 0.4% to EUR 429.8 million (2014: EUR 427.9 million) and thus performed in line with strategy. In 2015 Sixt Leasing especially focused on increasing profitability in its Fleet Leasing business field, while above all the Online Retail business field registered significant growth impetus.
  • Sales revenue jumped by 60.1% to EUR 235.6 million, compared to EUR 147.1 million the year before. This development reflects the strong growth of the preceding years, which has triggered a large number of vehicle returns with a certain time lag. Another effect is that since 2013 the Fleet Management segment has offered the additional service of marketing customer vehicles. The marketing of vehicles returned from the private and commercial customer business led to higher earnings contributions than expected. This development was also supported by the expansion of marketing efforts via stationary channels.
  • Sixt Leasing Group's net finance costs improved by 7.9% to EUR -21,3 million (2014: EUR -23,1 million). This development was facilitated by an improved interest rate environment and the redemption of financial liabilities following the inflow of proceeds from the IPO.
  • The Sixt Leasing Group generated earnings before taxes (EBT) of EUR 30.3 million, an increase of 18.2% (2014: EUR 25.6 million). This gain was attributable above all to growth, the measures taken to increase the contract portfolio's profitability as well as lower spending on interest payments.
  • The operating return on revenue (EBT to operating revenue) improved by 17.7% to 7.0% and thus was higher than the sustainably targeted rate of 6%.
  • Consolidated profit climbed from EUR 19.0 million to EUR 22.5 million, a gain of 18.4%.


Dividend ratio at the upper end of the targeted corridor
At the Annual General Meeting on 1 June 2016, the Managing Board proposes to pay out a dividend for fiscal year 2015 of EUR 0.40 per share, subject to the approval of the Supervisory Board. This dividend proposal would result in a total distribution of EUR 8.2 million and a distribution ratio of around 37% (referenced to the consolidated profit). The ratio would therefore be at the upper end of the targeted corridor of 30% to 40% that was communicated at the IPO.

Group's contract portfolio climbs 6.0%
As at reporting date, 31 December 2015, the Group's total number of contracts inside and outside Germany (excluding franchisees) increased to 103,200 and therefore exceeded the figure of 100,0000 contracts for the first time. Compared with the figure recorded at the previous year's reporting date (97,400 contracts) the increase amounts to 6.0%. This improvement is essentially due to the strong demand registered in the Online Retail business field and the successful key account acquisition in the Fleet Management segment.

Group equity ratio of 16%
At the end of the year under review Sixt Leasing reported Group equity of EUR 178.3 million. The increase of EUR 166.1 million from the figure at the end of 2014 (EUR 12.3 million) is essentially the result of the capital increase during the IPO and the capital injection of EUR 30 million made by Sixt SE before the stock listing. At 16.0% the equity ratio at the end of 2015 was therefore above the targeted figure of at least 14%.

To date Sixt Leasing AG has negotiated financing agreements with bank partners amounting to more than EUR 350 million and therefore reached the next milestone in setting up a financing structure independent from Sixt SE. The conclusion of an ABS financing agreement with a volume of up to EUR 500 million is strived for mid-2016. All in all, the roadmap for restructuring the Group's financing and thereby lowering the financing costs is fully on target.

Performance of operative business segments
The Sixt Leasing Group divides its operative business into the two segments (business units), Leasing (with the business fields Fleet Leasing and Online Retail) and Fleet Management.

Leasing segment:
Operating revenue from leasing business (finance leasing and services) in 2015 came to EUR 397.1 million, some 2.5% over the figure of the previous year (EUR 387.5 million). The business unit's total revenue (including the strong uptake in sales revenue) amounted to EUR 543.7 million, an increase of 14.5% on the figure of 2014 at EUR 518.4 million.

The segment's earnings before taxes (EBT) increased 17.0% to EUR 27.4 million as a result of operating growth, improved quality of earnings in the contract portfolio and lower spending on interest payments, compared to EUR 23.5 million recorded for 2014. In addition, the growing number of Online Retail customers who are using services is having a positive effect on margins. Approximately every third Online Retail contract concluded in 2015 includes at least one service component, such as accident and damage management, a car insurance or an inspection package. Moreover, customer loyalty was strengthened by the introduction of a bonus for existing customers, with the result that about every second private or commercial customers has decided to conclude a follow-up contract over the last months. The positive trend from remarketing the vehicles returned in the private and commercial customer business also improved the contribution to earnings coming from the Online Retail business field.

As at 31 December 2015, the segment's registered number of contracts amounted around 69,400, a rise of 5.3% (31 December 2014: approx. 66,000). Online Retail improved its contract portfolio by 33.7 % to around 21,100 (31 December 2014: approx. 15,800 contracts) and continued the dynamic development of the preceding years. In the Fleet Leasing business field the number of contracts stayed with at around 48,300, 3.7% below the level of 2014 (31 December 2014: approx. 50,200), also because of the deliberate concentration on contracts that generate strong margins.

Fleet Management segment:
Total revenue for the Fleet Management segment, which is operated via the subsidiary Sixt Mobility Consulting GmbH, reached EUR 71.9 million in 2015, a gain of 26.9% (2014: EUR 56.6 million). The segment's operating revenue made with services (excluding sales revenue) came to EUR 32.7 million, compared to EUR 40.4 million the year before. The 19.1% drop is essentially the result of the strategically intended termination of the contract with a key account that did not meet profitability expectations.

The business unit's earnings before taxes (EBT) improved to EUR 2.8 million compared with EUR 2.2 million the year before. The operating return on revenue (EBT to Fleet Management revenue without sales revenue) increased strongly from 5.3% in 2014 to 8.7% in 2015.

The number of contracts in the segment expanded by 7.6% to around 33,800 contracts (31 December 2014: approx. 31,400 contracts), which was above all due to the acquisition of a key customer in the third quarter, adding approximately 10,000 vehicles. The implementation of this contract kicked off in 2015 and shall be finalised by the end of the first quarter of 2016.


Outlook for the year 2016
Sixt Leasing has set itself the following targets for the current fiscal year 2016:

  • Continued intensified growth in the Online Retail business field with the objective of achieving a substantial competitive position in the German market for new cars for private and commercial customers. To this end, Sixt Leasing will expand its online marketing channels and invest significantly in marketing campaigns with a wide reach in order to increase brand recognition. Given the ample market potential, these investments are expected to pay off in the short term. A first TV campaign kicked off early 2016 and led already to a substantial uptake in hits registered on the online platform.
  • Further profitability improvements in the contract portfolio by increasing the ratio of services sold in the leasing contracts as well as through increased measures towards customer retention. Innovative products and services aim to raise customer benefits and lead to further simplifications in car selection, ordering and delivery processes.
  • Continuing the internationalisation of the Fleet Management segment in Western Europe that started in 2015. The objective is to manage international fleets and thereby expand the contract portfolio. A key role will be assumed by the 'Global Reporting Tool', which was introduced in the fourth quarter of 2015 and allows the efficient and transparent management of worldwide fleets.

For the current fiscal year 2016 the Managing Board projects further growth in the contract portfolio. The Online Retail business field is expected to keep up its dynamic development, with the number of contracts expected to climb to more than 32,000 by the end of 2017. Fleet Leasing in 2016 is expected to grow its contract portfolio somewhere in the lower single-digit percentage range. In the Fleet Management segment, shall be made another step towards the mid-term target of around 50,000 contracts.

For the full fiscal year 2016 the Managing Board expects to expand operating revenue by a lower to mid-range single-digit percentage figure, combined with a corresponding improvement of consolidated EBT.

---
 

Contact:
Sixt Leasing AG
Corporate Communications
Frank Elsner
Tel.: +49 (0) 89 / 99 24 96 - 30
Fax: +49 (0) 89 / 99 24 96 - 32
E-Mail: office@elsner-kommunikation.de


Note:
All fiscal year 2015 figures in this news are preliminary and subject to possible changes. The audited consolidated financial statements 2015 for Sixt Leasing AG will be published on 18 April 2016.


The Sixt Leasing Group in 2015
(Preliminary figures in accordance with IFRS)1


Revenue performance

in EUR million 2015 2014 Change in %
Leasing segment 593.5 518.4 +14.5
Fleet Management segment 71.9 56.6 +26.9
Consolidated revenue 665.4 575.0 +15.7
     thereof consolidated operating revenue (finance leasing & services) 429.8 427.9 +0.4
     thereof sales revenue 235.6 147.1 +60.1
 

Earnings performance

in EUR million 2015 2014 Change in %
Fleet expenses and cost of lease assets 401.4 337.7 +18.9
Personnel expenses 20.2 17.6 +14.6
Depreciation and amortisation 178.6 158.3 +12.8
Net other operating income/expense -13,6 -12.6 +7.7
Net finance costs -21.3 -23.1 -7.9
Earnings before taxes (EBT) 30.3 25.6 +18.2
Operating return on revenue (%)2 7.0 6.0 +17.7
Income tax 7.7 6.6 +17.5
Consolidated profit 22.5 19.0 +18.4
Earnings per share - basic
(in EUR)3
1.20 1.27 -5.5
  

Balance sheet figures for the Group

in EUR million 31 Dec 2015 31 Dec 2014 Change in %
Total equity and liabilities 1,112.9 1,080.9 +3.0
Lease assets 957.8 902.4 +6.1
Non-current liabilities to related parties 699.04  20.0 +>100
Current liabilities to related parties 4.0 659.85 -99.4
Other financial liabilities6 97.3 259.1 -62.5
Equity 178.37 12.3 >+100
Equity ratio (%) 16.0 1.1 +14.9 points
  2015 2014 Change in %
Investments in lease assets8 424.1 420.2 +0.1
  

1 Due to rounding it is possible that selected figures in this news cannot be added up to the amount recorded and that the annual figures listed do not follow from adding up the individual quarterly figures. For the same reason, the percentage figures listed may not always exactly reflect the absolute numbers to which they refer.
2 Ratio of EBT to operating revenue
3 Ratio of consolidated profit attributable to the Group's shareholders to weighted number of shares for the period (undiluted), 2015 based on 18.7 million shares (weighted), 2014 based on 15.0 million shares (weighted)
4 Liabilities to Sixt SE (Core Loan)
5 Mainly liabilities to Sixt SE
6 Current and non-current financial liabilities, including finance leases
7 Following the equity inflow from the IPO and the capital injection of EUR 30 million into the capital reserves made by Sixt SE
8 Value of vehicles added to the leasing fleet



2016-03-14 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.
Media archive at www.dgap-medientreff.de and www.dgap.de



 

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December 04, 2015

Sixt Leasing AG: New Chief Sales Officer strengthens Sixt Leasing AG's sales efforts for further expansion

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

2015-12-04 / 09:24
The issuer is solely responsible for the content of this announcement.


New Chief Sales Officer strengthens Sixt Leasing AG's
sales efforts for further expansion

  • Vinzenz Pflanz to become new Chief Sales Officer / Managing Director Sales, effective as at 15 January 2016

Pullach, 3 December 2015 - Vinzenz Pflanz (43) will become Managing Director Sales (Chief Sales Officer) of Sixt Leasing AG, one of the largest non-bank, vendor-neutral leasing companies in Germany, effective as at 15 January 2016. In this newly created role he will be responsible for expanding direct sales activities in the Fleet Leasing and Fleet Management business units and driving forward the internationalisation of the mobility services company.

Vinzenz Pflanz brings with him over 18 years of experience across the entire value-creation chain of international fleet management and an extensive network of contacts to fleet managers as well as car manufacturers. The last six years he was Chief Commercial Officer with Fleet Logistics International, a subsidiary of TÜV Süd Group, where he was responsible for sales, account management, IT, quality management, implementation, legal affairs as well as procurement and purchasing. Previously, he co-founded and managed a brand-independent leasing company, after acting as Managing Director for an internationally active leasing group, where he oversaw the international expansion into twelve European countries as well as sales.

Dott. Rudolf Rizzolli, CEO of Sixt Leasing AG: 'Vinzenz Pflanz is a proven expert with many years of experience in the international leasing business. I am sure that he will provide fresh impetus and momentum to sales, especially in view of the targeted further internationalisation of our fleet management business.'


Sixt Leasing
Sixt Leasing AG (WKN: A0DPRE / ISIN: DE000A0DPRE6) has its registered offices in Pullach near Munich. For over 50 years already the Company has been one of the leading German mobility service providers. In addition, it is represented in further Western European countries and through strong franchise partners in around 40 countries worldwide. Sixt Leasing offers comprehensive services in its business fields Fleet Leasing, Fleet Management and Private and Commercial Customer Leasing (Online Retail).
In its Fleet Leasing business field the Company develops tailored full-service leasing solutions for corporate customers. It optimises their fleets' total operating costs over the long term and independent of manufacturer interests. Through its subsidiary Sixt Mobility Consulting GmbH, the Fleet Management business field offers this expertise also to customers who bought or leased their vehicles from a third party. For private and commercial customers Sixt Leasing developed the online platform www.sixt-neuwagen.de. The innovative website provides the means to configure the latest vehicle models from over 30 different car manufacturers and obtain an individual leasing offer. Customers thereby benefit from Sixt Leasing's expertise and economies of scale when buying their vehicle in the form of attractive conditions and additional services. Since 7 May 2015 the shares of Sixt Leasing AG are traded on the Prime Standard Segment of the Frankfurt Stock Exchange. In 2014 the Group generated revenues of EUR 575 million.
www.sixt-leasing.com

Contact:
Sixt Leasing AG
Corporate Communications
Frank Elsner / Frank Paschen
Tel.: +49 (0)89/ 99 24 96 - 30
Fax: +49 (0)89/ 99 24 96 - 32
Email: office@elsner-kommunikation.de

Note:
A photo of Vinzenz Pflanz can be obtained on request.



2015-12-04 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.
Media archive at www.dgap-medientreff.de and www.dgap.de



 

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November 18, 2015

Sixt Leasing AG: Sixt Leasing significantly increases profitability during first nine months of 2015


DGAP-News: Sixt Leasing AG / Key word(s): 9-month figures

2015-11-18 / 07:31


Sixt Leasing significantly increases profitability during first nine months of 2015

  • Operating return on sales climbs to 6.7%; in Q3 up to 7.4%
  • Earnings before taxes (EBT) for first nine months up by 39% to EUR 21.7 million
  • 19% upturn in Group revenue strongly affected by higher proceeds from the sale of used vehicles
  • First external financing agreements concluded
  • Dott. Rudolf Rizzolli, CEO: 'Business performance fully in line with our expectations'
  • Revenue forecast for full year 2015 confirmed and earnings forecast outlined in more detail

Pullach, 18 November 2015 - In the third quarter of 2015, Sixt Leasing AG, one of the largest non-bank, vendor-neutral leasing companies in Germany, maintained the strong growth of the first six months of 2015 and increased return on sales still further. Consolidated earnings before taxes (EBT), the key figure for measuring the Company's business success, climbed by 39.2% over the first nine months to EUR 21.7 million. Year-on-year, the operating return on sales rose by 1.8 percentage points to 6.7%. The Managing Board of the mobility service provider, whose shares have been listed on the Frankfurt Stock Exchange since 7 May 2015, confirms its previous revenue expectations for fiscal year 2015 and outlines its earnings forecast in more detail.

Dott. Rudolf Rizzolli, CEO of Sixt Leasing AG: 'After nine months, Sixt Leasing is absolutely in line with its plan. We continue to focus on qualitative growth and on increasing our profitability. A particularly gratifying development is the ongoing expansion in the number of contracts generated from our Online Retail business segment, which underlines the appeal of our services to private and commercial customers.'

Sixt Leasing Group key figures after nine months 2015

  • Compared with the same period last year, Group's revenue for the first nine months of 2015 was up by 18.7% to EUR 498.5 million (9M 2014: EUR 419.9 million). The strong growth is due to higher proceeds from the sale of used leasing vehicles as well as increased revenue from finance leasing.
  • Operating revenue (without the proceeds from sales) increased 2.0% to EUR 324.5 million (9M 2014: EUR 318.1 million).
  • Sales proceeds climbed 70.9% to EUR 174.0 million after EUR 101.8 million for the same period last year. This strong increase is due above all to the expansion of the contract portfolio over the last few years. At the end of the leasing contract's term this leads to correspondingly more vehicle returns that come in with a certain time lag. Moreover, since 2014 the Fleet Management segment has offered as additional service to market customer vehicles that were under management after the end of their contract terms.
  • For the period January to September the Sixt Leasing Group generated consolidated earnings before taxes (EBT) of EUR 21.7 million, an increase of 39.2% (9M 2014: EUR 15.6 million). Key factors contributing towards this increase in earnings were the revenue growth in finance leasing, improved margins of new business transactions and lower financing costs.
  • The operating return on sales, measured as the ratio of EBT to operating revenue, improved by 1.8 percentage points from 4.9% to 6.7%.
  • For the first three quarters the Group recorded a 38.0% gain in earnings after taxes, up to EUR 15.9 million (9M 2014: EUR 11.6 million).

Sixt Leasing Group key figures Q3 2015

  • Group revenue for Q3 2015 climbed by 14.4% to EUR 169.5 million (Q3 2014: EUR 148.2 million).
  • Operating revenue (without proceeds from sales) slightly increased to EUR 108.6 million (Q3 2014: EUR 108.2 million; +0.4%).
  • Sixt Leasing's EBT in Q3 rose by 33.1% to EUR 8.0 million (Q3 2014: EUR 6.0 million).

Development of the contract portfolio
As at 30 September 2015 the Group's total number of contracts inside and outside Germany (excluding franchisees) amounted to 91,700 (30 September 2014: approx. 97,600 contracts; -6.1%). As already communicated in the H1 report, this drop is mainly the result of discontinued business relations with a Fleet Management customer who could not meet the Company's profitability expectations.

Operating business segment performance
The Sixt Leasing Group divides its operating business into the two segments (business units) Leasing (with the business fields Fleet Leasing and Online Retail) and Fleet Management (with the subsidiary Sixt Mobility Consulting GmbH).

Leasing segment:
For the period January to September 2015 the Leasing segment generated revenue from leasing operations (finance leasing and services) of EUR 299.6 million. Year-on-year this translates into a rise of 3.7% (9M 2014: EUR 289.0 million). The key driver was the increase in revenue in finance leasing (+10.9%), due to the ongoing growth in the number of contracts concluded by the Online Retail business field. Including the sales of vehicles, the segment's revenue climbed 16.7% to EUR 445.6 million (9M 2014: EUR 381.9 million).

The segment's EBT for the first nine months rose substantially by 30.9% to EUR 19.8 million after EUR 15.1 million over the same period last year. The intensified activities in the Online Retail business field to improve margins of new business transactions contributed to this development in particular. As numerous customers prefer vehicles that are instantly available from dealers, the offer for such vehicles was continuously expanded. Moreover, a growing number of private and commercial customers are making use of additional services that are offered on top. About every third contract now includes at least one service component. In addition, measures to retain customers were also intensified through the introduction of a bonus for existing customers.

At the end of September 2015 the portfolio of contracts amounted to approx. 68,800, a gain of 4.1% compared to the figure recorded at the same date the year before (66,100 contracts). The Online Retail business field with its innovative online platform www.sixt-neuwagen.de continued to record healthy growth. It increased its number of contracts year-on-year by 36.1% to around 19,900 (30 September 2014: approx. 14,600 contracts).

In the third quarter Sixt Leasing proved its innovative power once again. First, in July 2015 the online retail portal www.sixt-neuwagen.de launched its cooperation with the specialist financing provider akf bank. It enables customers to find a straightforward follow-up financing solution when their leasing vehicle comes to the end of its term. The second innovation refers to the development of a driver's logbook app. It allows company car users to record their journeys simply via smartphone, to have them documented for the tax authority.

Fleet Management segment:
During the first three quarters the segment registered a revenue increase of 39.2%. Given the higher proceeds from the sale of vehicles, revenue climbed to EUR 53.0 million (9M 2014: EUR 38.1 million). The revenue from services was EUR 24.9 million and thus lower than the figure recorded in the same period last year (EUR 29.1 million; -14.4%). This development was due to the termination of the contract with one key account in the second quarter 2015.

In the period under review, the segment's EBT increased substantially to EUR 2.0 million (9M 2014: EUR 0.5 million), because of an improved profitability of the contract portfolio, among others.

As of 30 September 2015 the Fleet Management's contract portfolio included around 22,900 contracts, a decline of 27.4% compared with the number recorded on 30 September 2014 (approx. 31,500 contracts). After an intense tender and negotiation phase a key account confirmed the fleet management of about 10,000 vehicles. Following a successful implementation, the contract portfolio of the Fleet Management business unit is, therefore, supposed to rise significantly and overcompensate the temporary downturn in the number of contracts. In addition, Managed Mobility AG, the Swiss-based joint venture for fleet management that is consolidated at-equity, manages another 5,900 contracts.

The ongoing internationalisation is another important corner stone for the growth of the Fleet Management business unit. In the period under review, the Dutch subsidiary was realigned to focus on fleet management and preparations went underway to establish a French subsidiary. With the in the third quarter newly developed Global Reporting Tool, which is due to be launched in the fourth quarter of 2015, international fleets can be managed even more efficiently. The new tool provides comprehensive transparency on all relevant vehicles, which a company operates.

First external financing agreements concluded
In the third quarter 2015 Sixt Leasing AG concluded its first long-term financing agreements with its banking partners. These will enable Sixt Leasing AG to gradually replace the Group financing secured by Sixt SE and to finance its planned growth, whilst simultaneously lowering its average interest rate payments.

Outlook for the full-year 2015
Following the positive business performance of the first nine months and the ongoing good environment for lease financing in Europe, the Managing Board continues to expect a slight increase in operating revenue compared to 2014. Total consolidated revenue are expected to be substantially higher than last year given stronger proceeds from the sale of vehicles.

Consolidated earnings will be positively affected by the measures taken to increase profitability in the contract portfolio. In addition, it is expected that the Group's interest expenses can be lowered. This is to be achieved on the one hand by reducing current financial liabilities as well as through the initiated substitution of the Group financing provided by Sixt SE with the proceeds from the IPO and on the other hand by the utilisation of the negotiated new financing agreements with banking partners.

Consequently, the Managing Board has specified its earnings forecast for 2015 and now expects the Group's EBT to rise from the EUR 25.6 million recorded in 2014 to around EUR 30 million in 2015.

Contact:
Sixt Leasing AG
Corporate Communications
Frank Elsner
Tel.: +49 (0) 89 / 99 24 96 - 30
Fax: +49 (0) 89 / 99 24 96 - 32
E-mail: office@elsner-kommunikation.de

Note:
The Interim Report of Sixt Leasing AG as at 30 September 2015 can now be downloaded from
http://ir.sixt-leasing.com/interim-reports.

Sixt Leasing Group
(All figures in accordance with IFRS)1

 

Revenue performance

EUR million 9M
2015
9M
2014
Change % Q3
2015
Q3
2014
Change %
Leasing segment 445.6 381.9 +16.7 151.9 130.6 +16.3
Fleet Management segment 53.0 38.1 +39.2 17.5 17.6 -0.3
Consolidated revenue 498.5 419.9 +18.7 169.5 148.2 +14.4
thereof consolidated operating revenue (without vehicle sales)
 
324.5
 
318.1

+2.0

108.6
 
108.2
 
+0.4
thereof sales revenue
174.0 101.8 +70.9 60.8 40.0 +51.9
 

Earnings performance

EUR million 9M
2015
9M
2014
Change % Q3
2015
Q3
2014
Change %
Fleet expenses and cost of lease assets 301.5 245.3 +22.9 101.6 88.8 +14.3
Personnel expenses 15.1 13.4 +12.7 4.6 4.4 +6.7
Depreciation and amortisation expenses 133.4 118.1 +12.9 45.3 39.3 +15.2
Net other operating
income/expenses
 
-11.2
 
-9.7
 
+15.6
 
-4.6
 
-3.6
 
+28.1
Net finance costs -15.6 -17.8 -12.4 -5.3 -6.0 -12.4
Earnings before taxes (EBT) 21.7 15.6 +39.2 8.0 6.0 +33.1
Operating return on sales (%)2 6.7 4.9 +1.8 points 7.4 5.6 +1.8 points
Income tax expense 5.8 4.1 +42.7 2.1 1.5 +37.7
Consolidated profit 15.9 11.6 +38.0 5.9 4.5 +31.5
Undiluted earnings per
share (EUR)3
 
0.88
 
0.77
 
-
 
0.29
 
0.30
 
-
 

Other key figures for the Group

  30 Sep. 2015 31 Dec. 2014 Change %
       
Total assets (EUR million) 1,090.1 1,080.9 +0.9
Lease assets (EUR million) 948.9 902.4 +5.2
Equity (EUR million) 171.74 12.3 >+100
Equity ratio (%) 15.84 1.1 +14.7 points
       
  9M 2015 9M 2014 Change %
Investments (EUR million)5 319 307 +3.9
 


1 Due to rounding it is possible that individual figures presented in this press release may not add up exactly to the totals shown and that the nine-month figures listed may not follow from adding up the individual quarterly figures. For the same reason, the percentage figures presented may not exactly reflect the absolute figures they relate to.
2 Ratio of EBT to operating revenue
3 Ratio of profit attributable to shareholders of Sixt Leasing AG and the pro rata temporis weighted average number of shares outstanding
4 Following the equity inflow from the IPO and the capital injection of EUR 30 million into the capital reserves made by Sixt SE
5 Value of vehicles added to the leasing fleet





2015-11-18 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.
Media archive at www.dgap-medientreff.de and www.dgap.de



414087  2015-11-18  show this

September 04, 2015

Sixt Leasing AG added to Deutsche Börse's SDAX index


DGAP-News: Sixt Leasing AG / Key word(s): Miscellaneous

2015-09-04 / 08:22


Sixt Leasing AG added to Deutsche Börse's SDAX index

  • Mobility service provider upgraded into renown small cap index merely four months after IPO
  • CFO Björn Waldow: 'Integration of stock increases visibility and appeal on the capital market.'

Munich, 4 September 2015 - The shares of Sixt Leasing AG, one of the largest non-bank, vendor-neutral leasing companies in Germany, will be included into Deutsche Börse's SDAX index per 21 September 2015. The move was announced yesterday by Deutsche Börse following the close of stock markets in the USA. Accordingly, Sixt Leasing AG now ranks among the 50 biggest German listed corporations below the MDAX index in terms of market capitalisation and share turnover. The inclusion into the renowned small cap index, which also comprises the ordinary shares of Sixt SE, follows just four months after the mobility service provider's IPO on 7 May 2015.

Björn Waldow, CFO of Sixt Leasing AG: 'We are delighted that Sixt Leasing AG has been included into the SDAX so soon after its IPO. This step gives our stock even more visibility and appeal for institutional and private German and international investors. We also take this as confirmation that our business model is positively received not only by our customers but also from investors.'

About Sixt Leasing:
Sixt Leasing AG (WKN: A0DPRE / ISIN: DE000A0DPRE6) has its registered offices in Pullach near Munich. For around 50 years the Company has been one of the leading German mobility service providers. The Company is represented in further Western European countries and through strong franchise partners in around 40 countries outside worldwide. Sixt Leasing offers comprehensive services through its business divisions of Fleet Leasing, Fleet Management and Private and Corporate Customer Leasing. With its Fleet Leasing business field the Company develops tailored full-service leasing solutions for corporate customers. It optimises their fleets' total cost of ownership over the long term and independent of manufacturer interests. Through its subsidiary Sixt Mobility Consulting, the Fleet Management Business Unit offers this expertise also to customers who bought or leased their vehicles from a third party. For private and commercial customers Sixt Leasing developed the online platform www.sixt-neuwagen.de. The innovative website provides the means to configure the latest vehicle models from over 30 different car manufacturers and obtain an individual leasing offer. Customers thereby benefit from Sixt Leasing's expertise and economies of scale when buying their vehicle in the form of attractive conditions and additional services. Since 7 May 2015 the shares of Sixt Leasing AG are traded on the regulated market (Prime Standard) of the Frankfurt Stock Exchange. In 2014 the Group generated revenues of EUR 575 million.
www.sixt-leasing.com

Contact:
Sixt Leasing AG
Corporate Communications
Frank Elsner / Frank Paschen
Tel.: +49 (0)89/ 99 24 96 - 30
Fax: +49 (0)89/ 99 24 96 - 32
E-mail: office@elsner-kommunikation.de

 





2015-09-04 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.
Media archive at www.dgap-medientreff.de and www.dgap.de



392515  2015-09-04 

August 19, 2015

Sixt Leasing records leap in earnings in first half of 2015


Sixt Leasing AG / Key word(s): Half Year Results/Quarter Results

2015-08-19 / 07:31


Sixt Leasing records leap in earnings in first half of 2015

  • Consolidated earnings before taxes rise 43% to EUR 13.7 million
  • Operating return on sales improves significantly from 4.6% to 6.4%
  • Group revenue up by 21%, thanks above all to higher sales revenue
  • The business field Online Retail for private and commercial customers continues on growth track with its www.sixt-neuwagen.de platform
  • Dott. Rudolf Rizzolli, CEO: 'Strategy of qualitative growth is paying off'
  • Outlook for full fiscal year 2015 confirmed

Pullach, 19 August 2015 - Sixt Leasing AG, one of the largest non-bank, vendor-neutral leasing companies in Germany, recorded a successful first half year in 2015. Group revenues and consolidated earnings were both significantly higher than the six-month figures recorded last year. Consolidated earnings before taxes (EBT), the key figure for measuring the Company's business success, climbed 43.0% to EUR 13.7 million. The operating return on sales rose by 1.8 percentage points to 6.4%. Given the successful first six months of 2015 the Managing Board of the mobility service provider, whose share has been listed on the Frankfurt stock exchange since 7 May 2015, confirmed the previous revenue and earnings expectations for the full fiscal year 2015.

Dott. Rudolf Rizzolli, CEO of Sixt Leasing AG: 'Business performance for the first six months is fully in line with our ambitious plan. It shows that our strategy of qualitative growth with focus on profitability maximisation is paying off.'

Sixt Leasing Group key figures H1 2015

  • Compared with the same period last year, Group revenue for the first six months of 2015 climbed 21.1% from EUR 271.8 million to EUR 329.1 million. The strong growth is primarily due to higher revenues from the sale of used leasing vehicles as well as increased revenues from finance leasing.
  • Operating revenue (excluding sales revenue) improved 2.8% to EUR 215.9 million (H1 2014: EUR 210.0 million).
  • As already outlined in the Q1 report, the strong rise of 83.2% in sales revenues to EUR 113.2 million (H1 2014: EUR 61.8 million) mainly results from the expansion of the contract portfolio over the last few years. The termination of the leasing contracts leads to a corresponding number of vehicles being returned, with a certain time lag. Moreover, since 2014 the Fleet Management segment has also offered to market the managed customer vehicles after the end of their contract terms.
  • For the first half of 2015 the Sixt Leasing Group generated consolidated earnings before taxes (EBT) of EUR 13.7 million, which is an increase of 43.0% on the same period last year (EUR 9.6 million). This leap in earnings is due to growing business volume, the improvement in margins in the contract portfolio as well as lower borrowing costs.
  • The operating return on sales, measured as the ratio of EBT to operating revenue, improved significantly, from 4.6% (H1 2014) to 6.4% (H1 2015).
  • The first half of 2015 closed with a 42.1% rise in post-tax earnings to EUR 10.0 million (H1 2014: EUR 7.1 million).

Sixt Leasing Group key figures Q2 2015

  • Group revenue in the second quarter 2015 climbed 17.4% to EUR 163.8 million (Q2 2014: EUR 139.4 million).
  • The operating revenue without the revenues from the sale of used leasing vehicles rose 2.9% quarter-on-quarter from EUR 106.8 million (Q2 2014) to EUR 109.9 million (Q2 2015).
  • EBT went up 6.6% to EUR 6.4 million (Q2 2014: EUR 6.0 million).

Development of the contract portfolio
By the middle of 2015 the Group's entire contract portfolio in Germany and abroad amounted to roughly 91,200 contracts. The decline from the figure recorded on 30 June 2014 (96,200 contracts, -5.1%) is mainly due to developments in the Fleet Management segment. As had been duly communicated before, a key account with around 7,400 contracts was not included in the portfolio any longer in the second quarter 2015. The Sixt Leasing Group terminated the agreement as it did not meet the profitability expectations.

Performance in the operative business segments
The Sixt Leasing Group divides its operative business into the two segments (business units) Leasing (with the business fields Fleet Leasing and Online Retail) and Fleet Management.

Leasing Segment:
During the first six months of 2015 the Leasing segment generated revenue from leasing operations (finance leasing and services) of EUR 198.8 million, which equals an increase of 3.7% compared to the same period last year (EUR 191.8 million). The increase is the result of higher revenues in finance leasing (+11.2%), in particular due to the ongoing growth of the Online Retail business field. Including the sales of vehicles, the segment's revenues climbed 16.9% to EUR 293.6 million (H1 2014: EUR 251.3 million).

Segment's earnings before taxes (EBT) increased significantly. They went up by 25.4% to EUR 12.3 million, following EUR 9.8 million at the end of the first half of 2014.

At the end of the first six months of 2015 the portfolio of contracts was around 68,200, a gain of 5.0% compared to the middle of 2014 (65,000 contracts). The Online Retail business field, which addresses private and commercial customers via the innovative online platform www.sixt-neuwagen.de, continues to grow dynamically. Its portfolio expanded by 35.2% to circa 18,700 contracts (H1 2014: 13,900 contracts).

Fleet Management segment:
This segment saw its total revenues rise by 73.0% in the first half of 2015 to EUR 35.5 million (H1 2014: EUR 20.5 million). The main reason was the significant increase in sales revenues. The revenue from services came to EUR 17.1 million, some 6.3% below the same period last year (EUR 18.2 million). As had already been communicated, Sixt Mobility Consulting GmbH had terminated the contract with a key account holding around 7,400 contracts, as this relationship did not meet the profitability expectations. The vehicles under these contracts were managed until 31 March 2015, but were no longer included in the portfolio of the second quarter 2015. However, the discontinuation of this customer relationship has had a positive influence on the profitability of the Fleet Management business.

EBT in this segment increased by EUR 1.4 million for the period January to June (H1 2014: EUR -0.2 million).

As at 30 June 2015 the approximately 23,000 contracts in the Fleet Management segment were less than the around 31,200 contracts recorded in the first half of 2014. This was primarily based on the termination of the contract with the key account. Furthermore Managed Mobility AG, the new at-equity joint venture for fleet management in Switzerland, manages around 6,000 contracts.

Equity substantially stronger
Due to the cash inflow of EUR 112 million (gross) from the successful IPO as well as the capital injection of EUR 30 million by Sixt SE prior to the IPO, the Group equity of Sixt Leasing AG amounted to EUR 166.1 million as at 30 June 2015. It was therefore significantly higher than the equity recorded on 31 December 2014 (EUR 12.3 million), when the Company was still maintaining a profit and loss transfer agreement with Sixt SE. The equity ratio increased from 1.1% at the end of 2014 to 14.3% as at 30 June 2015.

Björn Waldow, CFO of Sixt Leasing AG: 'The solid equity basis that we achieved through the IPO is a very good basis for gradually replacing our financing, which is currently mainly secured by Sixt SE, with external and independent financing. This will also allow us to lower our refinancing costs.'

Outlook for the whole of 2015
Following the good business performance of the first six months, which was in line with plan, the Managing Board confirms its previous outlook for the whole of fiscal year 2015. The Managing Board projects a slight increase in operating consolidated revenues and an improvement in consolidated EBT over last year.

Contact:
Sixt Leasing AG
Corporate Communications
Frank Elsner
Tel.: +49 (0)89/ 99 24 96 - 30
Fax: +49 (0)89/ 99 24 96 - 32
E-mail: office@elsner-kommunikation.de

Note:
The Interim Report of Sixt Leasing AG as at 30 June 2015 can now be downloaded from
http://ir.sixt-leasing.com/interim-reports.


Sixt Leasing Group
(All figures in accordance with IFRS)1

Revenue performance

EUR million H1 2015 H1 2014 Change % Q2 2015 Q2 2014 Change %
Leasing segment 293.6 251.3 +16.9 146.9 127.3 +15.4
Fleet Management segment 35.5 20.5 +73.0 16.8 12.2 +38.4
Consolidated revenue 329.1 271.8 +21.1 163.8 139.4 +17.4
thereof consolidated operating revenue (without vehicle sales) 215.9  210.0  +2.8  109.9  106.8  +2.9 
thereof sales revenue 113.2  61.8  +83.2  53.9  32.6  +65.1 
 

Earnings performance

EUR million H1 2015 H1 2014 Change % Q2 2015 Q2 2014 Change %
Fleet expenses and
cost of lease assets
 
200.0
 
156.5
 
+27.8
 
97.5
 
78.9
 
+23.6
Personnel expenses 10.5 9.1 +15.6 5.2 4.7 +11.3
Depreciation and
amortisation expenses
 
88.0
 
78.8
 
+11.7
 
44.9
 
41.0
 
+9.4
Net other operating
income/expenses
 
-6.5
 
-6.1
 
+8.1
 
-4.4
 
-3.5
 
+27.7
Net finance costs -10.3 -11.8 -12.4 -5.3 -5.4 -1.2
Earnings before taxes (EBT) 13.7 9.6 +43.0 6.4 6.0 +6.6
Operating return on
sales (%)2
 
6,4
 
4,6
 
+1.8 points
 
5.9
 
5.7
 
+0.2 points
Income tax expense 3.7 2.5 +45.7 2.0 1.6 +24.4
Consolidated profit 10.0 7.1 +42.1 4.4 4.4 +0.2
Undiluted earnings per
share (EUR)3
 
0.59
 
0.47
 
-
 
0.22
 
0.29
 
-
 

Other key figures for the Group

  30 Jun. 2015 31 Dec. 2014 Change %
       
Total assets (EUR million) 1,163.1 1,080.9 +7.6
Lease assets (EUR million) 938.8 902.4 +4.0
Equity (EUR million)4 166.1 12.3 >+100
Equity ratio (%)4 14.3 1.1 +13.2 points
       
  H1 2015 H1 2014 Change %
Investments (EUR million)5 210 198 +6.6
 
1 Due to rounding it is possible that individual figures presented in this press release may not add up exactly to the totals shown and that the half-year figures listed may not follow from adding up the individual quarterly figures. Furthermore, the percentage figures presented may not exactly reflect the absolute figures they relate to.
2 Ratio of EBT to operating revenue
3 Ratio of profit attributable to shareholders of Sixt Leasing AG and the pro rata temporis weighted average number of ordinary shares outstanding
4 Following the equity inflow from the IPO and the capital injection of EUR 30 million into the capital reserves made by Sixt SE
5 Value of vehicles added to the leasing fleet




2015-08-19 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.
Media archive at www.dgap-medientreff.de and www.dgap.de



387829  2015-08-19 

Munich, 7 July 2015

Sixt Neuwagen offers follow-up financing for lease vehicles

Collaboration between Sixt Leasing’s Neuwagen portal and the Wuppertal-based specialist lender akf bank

Munich, 7 July 2015 – Sixt Neuwagen is expanding its portfolio of services for its customers. Sixt Leasing’s Neuwagen portal is now collaborating with specialist lender akf bank, facilitating simple, convenient follow-up financing for its customers for lease vehicles that are due to expire.

At the end of a given lease agreement, Sixt Neuwagen’s customers can obtain an estimate thanks to the collaboration between Sixt Leasing and akf bank. If they opt for follow-up financing, they can discuss this estimate with their personal contacts at Sixt Neuwagen, and take advantage of it. A core akf team will support Sixt Leasing with the implementation.

Sixt Neuwagen (www.sixt-neuwagen.de) is an online platform for private and business customers, and offers the latest vehicle models from more than 30 manufacturers, which can be configured and leased as required. The vehicles originate exclusively from German dealerships. As part of this, Sixt Neuwagen offers attractive leasing conditions, as well as the choice between classic leasing and different forms of financing.

Martina Krauss, Divisional Manager, Cooperation Management at akf bank: ‘In future, customers of Sixt Neuwagen, our cooperation partner, will also be able to benefit on an ongoing basis from our many years of expertise in vehicle contracting. We look forward to working together.’

Marco Steinfatt, Senior Director, Private and Business Customers: ‘In akf bank, we are delighted to have an expert financial service provider at our side who guarantees simple processes, and with whom we can offer real added value for our customers. The collaboration is a further building block in our comprehensive service offer for private and business customers.’

News Service

May 18, 2015

Sixt Leasing doubles pre-tax Group earnings in Q1 2015


Sixt Leasing AG / Key word(s): Quarter Results

2015-05-18 / 07:32


Sixt Leasing doubles pre-tax Group earnings in Q1 2015

  • EBT up from EUR 3.6 million to EUR 7.3 million
  • Group revenues up by 25% to EUR 165.3 million
  • Performance in line with internal expectations
  • Dott. Rudolf Rizzolli, CEO: 'A strong first quarter lays a solid foundation for achieving our targets for the year.'

Pullach, 18 May 2015 - In Q1 2015 the Sixt Leasing Group continued its positive business performance from last year. Year-on-year consolidated revenue for the quarter climbed 25.0% to EUR 165.3 million. Consolidated earnings before taxes (EBT), the key figure for measuring the business success of the mobility service provider more than doubled in the first quarter of 2015, from EUR 3.6 million (Q1 2014) to EUR 7.3 million. The Company, whose share was listed on Frankfurt's stock exchange for the first time on 7 May 2015, is optimistic for the further course of the year.

Dott. Rudolf Rizzolli, CEO of Sixt Leasing AG: 'First quarter business performance is in keeping with our own expectations and represents a solid foundation for achieving our targets for the year. The successful IPO at the start of May has given us the financial leeway that is the precondition for achieving our ambitious growth plans.'

Sixt Leasing Group key figures Q1 2015

  • Group revenues for January to March 2015 climbed 25.0% compared with the same quarter last year (EUR 132.3 million) to EUR 165.3 million. Growth was driven above all by stronger revenue from the sale of used leasing vehicles and from finance leasing.
  • Operating revenues (excluding vehicle sales revenue) increased 2.8% to EUR 106.0 million (Q1 2014: EUR 103.2 million).
  • The strong increase in sales revenues by over 100% to EUR 59.3 million (Q1 2014: EUR 29.1 million) is essentially due to the increasing expansion of the contract portfolio over the last few years, which at the end of the leasing contract's term results in corresponding vehicle returns, which come with a certain time lag. In addition, the service range on the fleet management segment was extended and now also includes the re-marketing of the managed cars.
  • Group earnings before taxes (EBT) doubled from EUR 3.6 million to EUR 7.3 million. This was not just effected by the growth in business volume but also improved margins in the contract portfolio.
  • The Group closed the first quarter with significantly higher earnings after taxes of EUR 5.6 million (Q1 2014: EUR 2.6 million).

Contract portfolio keeps growing
As per reporting date, 31 March 2015, the Group's total number of contracts inside and outside Germany (excluding franchisees) was 98,400. This amounts to an increase of 18,800 contracts, or 23.6%, as against the reporting date of the same quarter last year (79,600).

Operating business segments' performance
The Sixt Leasing Group divides its operating business into the two segments (business units) Leasing (with the business fields Fleet Leasing and Online Retail) and Fleet Management.

Leasing segment:
In the first three months of 2015 the Leasing segment generated revenue from leasing transactions in the amount of EUR 97.7 million, a gain of 2.9% on the same quarter last year (EUR 95.0 million). This positive development is the result of a higher contract volume, especially in the Online Retail business field. Total revenue for the Leasing segment for the first three months came to EUR 146.7 million, which is a significant 18.3% gain on the same period last year (EUR 124.0 million).

EBT for the first three months was EUR 6.8 million after EUR 3.7 million in the first quarter of 2014.

At the end of the reporting period the Leasing segment recorded a total of 67,300 contracts (31 March 2014: 62,700). The number of contracts in the Online Retail business field with the online platform www.sixt-neuwagen.de had grown to 17,500 at the end of March 2015 (31 March 2014: 12,400), while in the Fleet Leasing business field the number of contracts decreased marginally to 49,800 (31 March 2014: 50,300).

Fleet Management segment:
Revenues in the Fleet Management segment rose from EUR 8.3 million for Q1 2014 to EUR 18.6 million in Q1 2015. This very positive development is driven by the revenue from vehicle sales climbing by EUR 10.2 million to a total of EUR 10.3 million.

The EBT of the segment for Q1 2015 was EUR 0.5 million compared with EUR -0.1 million for the same quarter last year.

As per reporting date the Fleet Management's contract portfolio had risen considerably from 16,900 (Q1 2014) to 31,100 because of the acquisition of a large key account.

Solid equity ratio following the IPO
As per 31 March 2015 the Sixt Leasing Group reported an equity ratio of 1.8%. Account must be taken, however, of the fact that at that time the profit and loss transfer agreement with the previous sole shareholder Sixt SE was still in effect. This has meanwhile been terminated. As part of the IPO Sixt Leasing AG acquired equity totalling EUR 142 million (including the equity intake of EUR 30 million from Sixt SE and before costs of the IPO). Including these equity funds and based on the Group balance sheet as at 31 March 2015, this amounts to a mathematically sound equity ratio of around 15%.

Outlook for the whole of 2015
Following the good opening quarter, the Managing Board expects that the Sixt Leasing Group will continue on its course of profitable growth for the full fiscal year 2015. The Managing Board therefore projects a slight increase in operating consolidated revenues and an improvement in consolidated EBT compared to the previous year.

The intake of funds from the IPO will be partly used to reduce current financial liabilities, so that the Group's interest rate payments may already be lowered in 2015. The remaining funds will be kept as liquidity reserves to finance growth. The medium-term objective is for the Group's financing, which is still currently mainly provided by Sixt SE, to be replaced step by step by external independent financing.

Contact:
Sixt Leasing AG
Press Office
Frank Elsner
Tel.: +49 - 89 - 99 24 96 30
Fax: +49 - 89 - 99 24 96 32
E-Mail: pressrelations@sixt.com

Note:
The interim report of Sixt Leasing AG as at 31 March 2015 can now be downloaded from
http://ir.sixt-leasing.com/interim-reports.

Sixt Leasing Group
(All figures in accordance with IFRSs)

Revenue performance

EUR million Q1 2015 Q1 2014 Change %
Leasing segment 146.7 124.0 +18.3
Fleet Management segment 18.6 8.3 >+100.0
Consolidated revenue
thereof consolidated operating revenue
(without vehicle sales)
thereof sales revenue
165.3
 
106.0
59.3
132.3
 
103.2
29.1
+25.0
 
+2.8
>+100.0
 

Earnings performance

EUR million Q1 2015 Q1 2014 Change %
Fleet expenses and
cost of lease assets
 
102.5
 
77.6
 
+32.0
Personnel expenses 5.3 4.4 +20.1
Depreciation and amortisation 43.1 37.8 +14.3
Net other operating
income/expense
 
-2.1
 
-2.6
 
-18.0
Net finance costs -5.0 -6.3 -21.9
Earnings before taxes 7.3 3.6 >+100.0
Income tax expense 1.7 1.0 +81.9
Consolidated profit 5.6 2.6 >+100.0
Earnings per share - basic
(EUR)1
 
0.37
 
0.18
 
-
 

Other key figures for the Group

  31 Mar. 2015 31 Dec. 2014 Change %
Total assets (EUR million) 1,051.8 1,080.9 -2.7
Lease assets (EUR million) 920.9 902.4 +2.1
Equity (EUR million)2 18.7 12.3 +52.5
Equity ratio (%)2 1.8 1.1 +0.7 points
  Q1 2015 Q1 2014 Change %
Investments (EUR million)3 100 98 +1.5
 


1 Based on 15.0 million shares in the first three months of 2015 and 15.0 million shares in
the first three months of 2014
2 Before equity intake from IPO and cash contribution into capital reserves from Sixt SE
3 Value of vehicles added to the leasing fleet





2015-05-18 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.
Media archive at www.dgap-medientreff.de and www.dgap.de



358263  2015-05-18 

Frankfurt/Pullach, 7 May 2015

Successful IPO of Sixt Leasing AG

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.

Frankfurt/Pullach, 7 May 2015 – Today Sixt Leasing AG witnessed its successful IPO at Frankfurt' stock exchange. Following the customary ringing of the stock exchange bell by the Managing Board the initial price was officially declared at EUR 20.40. Thus, the first price was up on the issue price fixed on Wednesday evening at EUR 20.00 per share.

The offer for a total of 12,366,955 Sixt Leasing AG shares, of which 5,586,593 are new shares from a cash capital increase, found strong demand from German and foreign investors. From the placement of the new shares Sixt Leasing generated gross issue proceeds of EUR 111.7 million. Together with EUR 30.0 million capital increase, undertaken by Sixt SE prior to the IPO, the equity of Sixt Leasing AG was strengthened by a total of EUR 141.7 million.

Dott. Rudolf Rizzolli, CEO of Sixt Leasing AG: "We are delighted with the successful IPO. Over the last few weeks we received very positive feedback from investors for our growth-oriented business model. We take this and the strong demand as proof of trust. I am convinced that the trend towards paying monthly instalments for the provision of mobility instead of buying a car is set to gain more and more followers from companies and private customers alike."

The shares of Sixt Leasing AG are traded on the regulated market (Prime Standard) of the Frankfurt stock exchange with the ticker symbol LNSX, the German Securities Identification Number (WKN) A0DPRE and the International Securities Identification Number (ISIN) DE000A0DPRE6.

Forward-looking statements:
This release may contain forward-looking statements based on current assumptions and forecasts made by Sixt Leasing Group. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the Company and the estimates given here. These factors include those discussed in Sixt SE’s public reports which are available on the Sixt SE website at http://ir.sixt.eu. The Company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.

Disclaimer:
These materials may not be published, distributed or transmitted in the United States, Canada, Australia or Japan. These materials do not constitute an offer of securities for sale or a solicitation of an offer to purchase securities (the “Shares”) of Sixt Leasing AG (the “Company”) in the United States, Germany or any other jurisdiction. The Shares of the Company may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended (the “Securities Act”). The Shares of the Company have not been, and will not be, registered under the Securities Act. Any sale in the United States of the securities mentioned in this communication will be made solely to “qualified institutional buyers” as defined in, and in reliance on, Rule 144A under the Securities Act.

In the United Kingdom, this document is only being distributed to and is only directed at persons who (i) are investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) (the “Order”) or (ii) are persons falling within Article 49(2)(a) to (d) of the Order (high net worth companies, unincorporated associations, etc.) (all such persons together being referred to as “Relevant Persons”). This document is directed only at Relevant Persons and must not be acted on or relied on by persons who are not Relevant Persons. Any investment or investment activity to which this document relates is available only to Relevant Persons and will be engaged in only with Relevant Persons.

This publication constitutes neither an offer to sell nor a solicitation to buy any securities. The securities have already been sold.

Pullach/Walldorf, 9 April 2015

Sixt Mobility Consulting takes over comprehensive fleet management
for around 14,000 vehicles of SAP

Largest mandate for Sixt Leasing subsidiary so far
Establishment of global reporting system for global fleet management

Sixt Mobility Consulting GmbH, a wholly-owned subsidiary of Sixt Leasing AG, has been awarded the most significant mandate in its history. The specialist for fleet management and mobility consulting will take over the management of the German fleet for Europe’s largest software manufacturer SAP, which comprises approximately 14,000 cars in their purchased vehicle fleet. Sixt Mobility Consulting will realise clear benefits for SAP by way of a more comprehensive service offering for drivers as well as improved conditions for the company. The vehicle fleet manager will also set up a global reporting system that is going to consolidate all data relating to the management of SAP vehicles in future.

Sixt Mobility Consulting offers SAP drivers comprehensive services. These range from easy car selection via the Sixt online configurator and support with damage cases to convenient maintenance and repair processes and the remarketing of used cars via a remarketing platform run by Sixt. In collaboration with the SAP vehicle fleet, Sixt Mobility Consulting has established a dealer and service network that gives drivers a permanent point of contact across Germany and enables them to access high-quality additional services and enjoy conditions negotiated in their favour. In addition, a dedicated team from Sixt Mobility Consulting is at the disposal of SAP employees on-site at the company headquarters in Walldorf.

Sixt Mobility Consulting will continue to provide strategic advice to SAP with respect to the selection of suppliers and negotiation of conditions. Furthermore, the vehicle fleet manager is currently establishing a global reporting system for SAP which will enable the homogeneous listing and management of all vehicles worldwide. Going forward, Sixt Mobility Consulting will use this system to manage SAP’s international fleet, comprising approximately 23,500 vehicles.

Dott. Rudolf Rizzolli, CEO of Sixt Leasing AG: “The mandate awarded by SAP proves the comprehensive expertise Sixt Mobility Consulting has in the management of large vehicle fleets. Not only can we guarantee seamless processes, we can also significantly improve conditions. We’re particularly looking forward to developing an innovative global reporting system in collaboration with SAP and thus being able to guarantee homogenous logging of all vehicles worldwide. We’re convinced that this is a relevant topic to many companies.”

Urdorf/Pullach, 7 April 2015

Sixt and Swisscom launch fleet management specialist Managed Mobility AG

Joint venture in Switzerland to provide comprehensive services in fleet management and fleet optimisation

Professional fleet management in Switzerland: Managed Mobility AG has been launched as a specialist in all aspects of fleet management and fleet optimisation. The new company is a joint venture of Sixt Leasing and Swisscom Managed Mobility, each of which holds 50% in the venture. Managed Mobility is based in Urdorf near Zurich and will work for small and medium sized companies as well as large multinationals.

Managing a vehicle fleet efficiently is not one of core fields of expertise for many companies and it ties up a lot of resources. Numerous contact-points with internal and external partners have to be coordinated. That is why an increasing number of companies are outsourcing their fleet management to external professional service providers who not only manage their fleets but also identify and implement potential cost savings in them.

Comprehensive fleet management
Managed Mobility as a fleet management specialist will work for companies who have their own vehicles or obtain them from various financing companies. Managed Mobility’s fleet management services include:

Optimum consulting
Managed Mobility combines custom fleet management services with continuous fleet optimisation. A comprehensive analysis of the fleet situation is used to derive suggestions for improvement which are implemented to optimise costs and structures.

The Joint venture will offer its services also to customers of Sixt Leasing and the Swisscom Group.

Dott. Rudolf Rizzolli, CEO of Sixt Leasing AG: “Companies expect professional fleet management to provide them with a measurable improvement in quality in their processes while reducing costs. Managed Mobility AG is the ideal partner for both small and mid-sized enterprises and large multinationals in Switzerland. The Joint venture bundles the comprehensive and long standing expertise and experience of Sixt leasing and Swisscom Managed Mobility.”

Pullach, 1 April 2015

Björn Waldow appointed CFO of Sixt Leasing AG

Financial and controlling expert strengthens mobility provider’s Managing Board

The Supervisory Board of Sixt Leasing AG has appointed Mr Björn Waldow (40) as the company’s Chief Financial Officer (CFO) with effect from 1 April 2015. He will be responsible for Finance, Accounting and Controlling as well as Investor Relations, Risk Management, Internal Audit, Legal and Compliance.

Mr Waldow holds a master's degree in business administration and also trained as a qualified banking clerk. He has worked for the Sixt Group since 2010. As Managing Director he was responsible in the Corporate Development department for Strategy, Mergers & Acquisitions (M&A), Sales Controlling and Group Risk Management. He worked for Roland Berger Strategy Consultants from 2002 to 2010, most recently as Principal. Mr Waldow held various positions at Deutsche Bank from 1995 to 2001.

The Board of Sixt Leasing AG also includes Dott. Rudolf Rizzolli, who since 2012 has been Chief Executive Officer (CEO) of the fleet leasing, fleet management and online retail leasing specialist.

Erich Sixt, Chairman of the Supervisory Board of Sixt Leasing AG: “As a finance and controlling expert, Björn Waldow will strengthen the management of our leasing company. He has proven his abilities impressively in the Sixt Group over the past five years.”

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