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Sixt Leasing: Further dynamic growth of Online business in the very first half of 2017
DGAP-News: Sixt Leasing SE / Key word(s): Half Year Results/Quarter Results
The issuer is solely responsible for the content of this announcement.
Pullach, sixteen August 2017 – Sixt Leasing SE, market leader in online sales of fresh 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 commence of the year, up to 42,500 contracts. Compared to the same period the year before the contract growth was at 74.Four percent. Across the Group the number of contracts as at thirty June two thousand seventeen totalled 128,900 contracts. This equals a build up of 13.Five percent for the very first six months of two thousand seventeen and 22.6 percent compared to thirty June 2016.
Rudolf Rizzolli, CEO of Sixt Leasing SE: “As planned, our Online Retail business is becoming the most significant business field of the Group. With a plus of almost seventy five percent over the same period the year before it has turned into the growth driver for Sixt Leasing. The strong request we record for our offerings in the internet, including for example the ‘plane rate for the road’, demonstrates that we touched a nerve with consumers. Our strategy of driving forward the digitalisation of fresh vehicle sales and to secure further shares on this market has proved to be spot on.”
While the contract portfolio for the Online Retail business field gained 55.1 percent in the very first six months of two thousand seventeen 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.Two percent more than at the end of 2016. The Fleet Management business unit recorded a build up of 0.Four percent to 38,800 contracts. Over the period from the end of two thousand sixteen to the end of June 2017, the Group’s total number of contracts inwards and outside Germany (excluding franchise and cooperation fucking partners) gained 13.Five percent to 128,900 contracts. Compared to thirty June two thousand sixteen the growth of the Group’s contract portfolio even came to 22.6 percent.
Consolidated revenue in the very first half of two thousand seventeen went up Four.Trio 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 fresh business activities continued to cargo earnings in the very first half of the year. Nonetheless, consolidated earnings before taxes (EBT) enlargened Trio.Two percent to EUR 16.8 million. Referenced to the revenue without sales revenue, the operating comeback on revenue came to 7.Five 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 thirty June two thousand seventeen came to 15.Five percent and thus significantly above the targeted minimum of 14.0 percent.
Following the successful placement of a bond, Sixt Leasing SE was able to redeem a significant volume in the amount of EUR three hundred million from the Core Loan provided by Sixt SE as planned at the earliest time on thirty June 2017. Hence, the transfer of Sixt Leasing Group’s financing from Sixt SE to outer financing arrangements, which had commenced in 2015, proceeds to be fully in line with the schedule.
Björn Waldow, CFO of Sixt Leasing SE: “With the repayment at the end of June we diminished the outstanding redemption amounts to Sixt SE to EUR one hundred ninety 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.”
For the total fiscal year two thousand seventeen and on the basis of the successful business spectacle of the very 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 fourteen percent. Moreover, the Managing Board specifies its forecast for the Online Retail business field. Given the ongoing dynamic growth seen in the very first six months of 2017, above all thanks to the ‘vapid rate for the road’ suggest, 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 two thousand seventeen at a glance
(Figures in accordance with IFRS) 1
thereof consolidated operating revenue
(without sales revenue)
thereof sales revenue
Balance sheet figures
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 go after 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.
two 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.
three Ratio of EBT to operating revenue
four Ratio of consolidated profit attributable to the Group shareholders to weighted number of shares for the period
five Liabilities to Sixt SE (Core Loan)
six Mainly liabilities to Sixt SE
seven Current and non-current financial liabilities, including finance leases
eight Value of vehicles added to the leasing fleet
Sixt Leasing SE (WKN: A0DPRE / ISIN: DE000A0DPRE6) based in Pullach near Munich is market leader in online sales of fresh 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 fresh 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 seven May 2015. In fiscal year two thousand sixteen the Group generated consolidated revenues of EUR seven hundred fourteen million.
Sixt Leasing SE
+49 eighty nine 74444 – 4518
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.
Archive at www.dgap.de
Sixt Leasing SE: AGM resolves on dividend increase and share-based compensation system
DGAP-News: Sixt Leasing SE / Key word(s): AGM/EGM/Dividend
The issuer is solely responsible for the content of this announcement.
Pullach, thirty June 2017 – Sixt Leasing SE, market-leader in online sales of fresh vehicles and specialist in management and full-service leasing of large fleets, held a successful Annual General Meeting yesterday in Munich. Over one hundred shareholders attended, collectively signifying approximately seventy seven 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 two thousand sixteen financial year, the election of the auditor for the two thousand seventeen financial year and the two thousand seventeen 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 twenty percent above the level of last year. In order to permit 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 thirty to forty percent to thirty to sixty percent of consolidated profit, beginning with the two thousand seventeen financial year.
Fresh, 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 thirty percent, then sixty percent of options may be exercised; if it rises by fifty 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 fresh, share-based compensation model specifically prizes growth at Sixt Leasing, creates powerful spectacle 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, introduced 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 suggest more IT solutions as well as online and mobile services. Digitalisation will also play an significant role in the future of the fleet management business, where the online-based Sixt Global Reporting Implement 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 fresh vehicles are sold and used. That is why we are developing fresh 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 two thousand seventeen financial year, on account of sustained dynamic growth, as well as a slight increase in operating revenue.
Total details of the two thousand seventeen Annual General Meeting and its voting results are available on the website http://ir.sixt-leasing.de/hv.
Sixt Leasing SE (WKN: A0DPRE / ISIN: DE000A0DPRE6) based in Pullach near Munich is market leader in online sales of fresh 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 fresh 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 seven May 2015. In fiscal year two thousand sixteen the Group generated consolidated revenues of EUR seven hundred fourteen million.
Sixt Leasing SE
+49 eighty nine 74444 – 4518
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.
Archive at www.dgap.de
Sixt Leasing affirms outlook for full-year two thousand seventeen following strong growth in Q1
DGAP-News: Sixt Leasing SE / Key word(s): Quarter Results
The issuer is solely responsible for the content of this announcement.
Sixt Leasing affirms outlook for full-year two thousand seventeen following strong growth in Q1
- Positive outlook: Managing Board expects dynamic revenue and earnings growth to proceed in fiscal year 2017
- Growth driver Online Retail: Business field for online sales of fresh vehicles gains around fifty eight percent year-on-year in Q1 two thousand seventeen to further increase contract portfolio
- Milestone in Group financing: Successful placement of bond with volume of EUR two hundred fifty million and coupon of 1.125 percent
Pullach, ten May 2017 – Sixt Leasing SE, market leader in online sales of fresh vehicles as well as specialist in management and full-service leasing of large fleets, affirms its outlook for the utter fiscal year two thousand seventeen 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 fourteen percent.
Rudolf Rizzolli, CEO of Sixt Leasing SE: “As planned, our Online Retail business field proceeds to mature step by step into the Group’s largest business field. Growing almost
sixty percent year-on-year we have commenced very well into the fresh year and underpinned once again that the future of fresh vehicle sales is digital.”
From the end of December two thousand sixteen to end of March two thousand seventeen the Online Retail business field grew its contract portfolio by 32.Trio percent to 36,300 contracts. This was above all due to the successful launch of the “vapid rate for the road”, a joint initiative of 1&1, Peugeot and Sixt Leasing to suggest the usage of a fully-equipped Peugeot two hundred eight including transfer, registration, taxes and insurance from 99.99 euros (incl. VAT) per month. Strong request for this innovative leasing suggest 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 inwards and outside Germany (excluding franchise and cooperation playmates) gained a significant 7.8 percent to 122,500 contracts.
Also consolidated revenue for the very first quarter of two thousand seventeen 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.Five million. Revenues from the sale of returned leasing vehicles and the marketing of customer cars gained Five.9 percent to EUR 75.1 million.
Consolidated earnings before taxes (EBT) enhanced by Five.1 percent to EUR 8.Five million. The operating comeback on revenue came to 7.Five 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 proclaimed minimum of 14.0 percent.
One of the highlights of Q1 was also the successful placement of Sixt Leasing SE’s very first corporate bond with a volume of EUR two hundred fifty million and a coupon of 1.125 percent. The bond issue met with upbeat request 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 significant milestone towards setting up our own independent and diversified financing structure. We are now well placed 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 two thousand seventeen at a glance
(Figures in accordance with IFRS) 1
Balance sheet figures
one 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 go after 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.
two 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.
three Ratio of EBT to operating revenue
four Ratio of consolidated profit attributable to the Group shareholders to weighted number of shares for the period
five Liabilities to Sixt SE (Core Loan)
six Mainly liabilities to Sixt SE
seven Current and non-current financial liabilities, including finance leases
eight Value of vehicles added to the leasing fleet
Sixt Leasing SE (WKN: A0DPRE / ISIN: DE000A0DPRE6) based in Pullach near Munich is market leader in online sales of fresh 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 fresh 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 seven May 2015. In fiscal year two thousand sixteen the Group generated consolidated revenues of EUR seven hundred fourteen million.
Sixt Leasing SE
+49 eighty nine 74444 – 4723
Ten.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.
Archive at www.dgap.de
Sixt Leasing raises forecast for online business in two thousand seventeen significantly after most successful year in the company’s history
DGAP-News: Sixt Leasing SE / Key word(s): Final Results/Dividend
The issuer is solely responsible for the content of this announcement.
Sixt Leasing raises forecast for online business in two thousand seventeen significantly after most successful year in the company’s history
- Annual Report two thousand sixteen published: Sixt Leasing records most successful fiscal year in corporate history
- Attractive dividend policy: Increase of dividend per share by twenty 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 proceed in fiscal year 2017
Pullach, twenty four April 2017 – Sixt Leasing SE, one of the largest bank- and manufacturer-independent full-service leasing providers in Germany today published its Annual Report two thousand sixteen and after the record year two thousand sixteen looks identically 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 enlargening 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 two thousand seventeen than previously planned. Request over the last weeks exceeded our expectations and confirms that our strategy is on the right track. In future we will shift the concentrate of our activities on to the sale of fresh leasing vehicles via the internet. The future of mobility is digital. This is clearly borne out by the success of our product innovation, the ‘plane 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 switches from the preliminary figures already announced in March.
The Group’s contract portfolio at home and abroad (not including franchise and cooperation fucking partners) posted an increase of Ten.1 per cent to 113,600 contracts. Consolidated revenue went up in comparison to the prior year by 7.Three per cent to an all-time high of EUR 713.9 million. Group earnings before taxes (EBT) enlargened by Four.Three per cent to EUR 31.6 million despite significantly higher growth investments. The operating come back on revenue improved by 0.Three percentage points to 7.Trio 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.Three per cent to EUR 24.6 million. The dividend per share shall be raised by twenty 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 fourteen per cent.
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 fresh 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 seven May 2015. In two thousand sixteen the Group generated consolidated revenues of EUR seven hundred fourteen million.
Sixt Leasing SE
+49 eighty nine 74444 – 4518
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.
Archive at www.dgap.de
Sixt Leasing SE: After a record year in 2016, Sixt Leasing is enhancing 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
The issuer is solely responsible for the content of this announcement.
After a record year in 2016, Sixt Leasing is enlargening dividend and expects further growth in revenue and earnings – Forecast for the online business is raised significantly
- Revenue and earnings increase to fresh peak values
- Strong growth in the online business and in Fleet Management resumes unabated
- Contract volume climbed by ten per cent to 113,600 contracts – in the online business field even by about thirty per cent
- Profitability and equity ratio improved despite high future investments
- Dividend increase by twenty per cent to EUR 0.48 per share
- Significant interest savings through optimisation of financial structure
- Growth outlook for two thousand seventeen in the online business field almost doubled through increase of 8,600 to a total of 36,000 contracts
- Increase of consolidated EBT two thousand seventeen 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 two thousand sixteen the most successful business year in its company history. According to preliminary figures (IFRS), the consolidated revenue enhanced in comparison to the prior year by 7.Trio 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 enhanced by Two.9 per cent without taking the lower fuel revenue into consideration. The sales revenue from returned leasing and marketed customer vehicles climbed by 20.Five 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 enhanced by 14.Trio 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 playmates) posted an increase of Ten.1 per cent to 113,600 contracts.
Group earnings before taxes (EBT) enhanced by Four.Three per cent to EUR 31.6 million despite significantly higher growth investments. The operating comeback on revenue improved by 0.Three percentage points to 7.Three 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.Trio million shrunk by 8.Four per cent to EUR Nineteen.Five million. This resulted from lower interest expenses after the repayment of EUR two hundred nine 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.Trio 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 two thousand sixteen (2015: EUR 0.40 per share) at the Annual General Meeting on twenty nine June 2017. This dividend proposal would lead to a total distribution of EUR 9.9 million (2015: EUR 8.Two million) and a distribution ratio of about forty per cent (2015: thirty seven per cent) of the consolidated net profit. Thus, the ratio would be at the upper end of the communicated target range of thirty to forty 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 two thousand seventeen we expect further growth in revenue and earnings. For that purpose, we will concentrate even more on the online sale of fresh 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 build up extra market shares. Our just recently introduced ‘vapid rate for the road’ in cooperation with 1&1 is already being well received. Therefore, we are certain 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 enhanced by Five.6 per cent to EUR 626.8 million. Earnings before taxes (EBT) of the Leasing business unit enlargened 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 Two.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 enhanced by 14.Trio per cent to 38,700 contracts (31 December 2016), in particular due to the accomplish takeover of the present Sixt Mobility Consulting AG in Switzerland. Total revenue of the Fleet Management business unit enlargened by 21.1 per cent to EUR 87.1 million. Earnings before taxes (EBT) of the Fleet Management business unit also eyed very positive growth and rose by 25.1 per cent to EUR Trio.Five million.
Sixt Leasing SE was able to reach several milestones in fiscal year two thousand sixteen concerning the set-up of a Group financing that is diversified and independent from Sixt SE. In May, Sixt Leasing SE successfully placed its very first borrower’s note loan for EUR thirty million with institutional investors. In July, the company reached its target volume of EUR five hundred million just one month after embarking the asset-backed securities (Six pack) programme to refinance leasing contracts. In January 2017, the company placed its very first bond with a volume of EUR two hundred fifty million. Last year, Sixt Leasing SE also repaid EUR two hundred nine million of the Core Loan provided by Sixt SE. Thus, the amount outstanding under this loan amounts to EUR four hundred ninety million as of thirty one December 2016.
Björn Waldow, CFO of Sixt Leasing SE: “2016 was successful for Sixt Leasing also with respect to Group financing. Within a brief time period, we were able to build up a very good reputation in the capital market and reached significant milestones to set up fresh refinancing independent from our shareholder Sixt SE. Reduction of interest expenses associated with that already had an influence last year and is to further strengthen in 2017.”
In March 2017, Sixt Leasing was the very first provider to introduce a “vapid rate for the road” along with a fully digital online ordering process, and thus reached the next milestone in the online strategy. The fresh vehicle plane rate primarily suggested 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 thirty months.
“Our customers do not want to buy cars, instead they want mobility – preferably online, pliable and at a predictable, favourable all-inclusive vapid rate. Even printing, packing 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 fresh vehicle is done in a fully digital manner,” emphasizes Rudolf Rizzolli.
The market for fresh 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 vapid rate that includes all vehicle-related services and costs. With the “plane rate for the road” Sixt Leasing is building up its leading position on the online fresh vehicle market to advance the digitalisation of this market valued at almost EUR one hundred billion in Germany alone.
Outlook for 2017
For fiscal two thousand seventeen and the following years, Sixt Leasing wants to proceed 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 two thousand seventeen 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 two thousand seventeen and anticipates a contract volume of 36,000 contracts by the end of the year, which represents extra growth of Four,000 contracts compared to original guidance.
The concentrate 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 fourteen per cent.
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 fresh 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 seven May 2015. In two thousand fifteen the Group generated consolidated revenues of EUR six hundred sixty five million.
Sixt Leasing SE
Frank Elsner / Frank Paschen
Tel.: +49 (0) eighty nine / ninety nine 24 ninety six – 30
Fax: +49 (0) eighty nine / ninety nine 24 ninety six – 32
All fiscal year two thousand sixteen figures in this press release are preliminary and subject to possible switch. The final and audited two thousand sixteen consolidated annual financial statements for Sixt Leasing SE will be published on twenty four April 2017.
(Preliminary figures in accordance with IFRS) 1