SIXT continued its progress course within the second quarter of 2023, producing report revenues of  simply over $1 billion and marking the very best second quarter income in firm historical past, the corporate reported Aug. 9.

This determine equates to a rise of 24.4% in comparison with the identical quarter of final 12 months. The corporate attributes the rise to the next elements:

• Sturdy demand for rental automobiles,
• A report fleet of 166,300 rental automobiles (up 24.6% since Q2 2022),
• A continuation of elevated rental costs from 2019.

Sixt famous the B2B leases and long-term enterprise leases additionally boosted second quarter revenues.

Consolidated earnings earlier than taxes (EBT) hit a report of $143.7 million within the second quarter. The EBT margin reached 14.3%, far above the report figures seen within the second quarter of 2019. Co-CEO Konstantin Sixt cited Sixt’s premium choices for prospects and the addition of 850 workers as extra causes for Sixt’s profitable quarter.

Co-CEO Alexander Sixt reported the report outcomes have led the corporate to extend its EBT forecast of $468.2 million to $598.9 million for the complete 12 months.

“Our earnings will thus be considerably above our pre-COVID 12 months 2019,” he mentioned. “The present unsure macroeconomic scenario for Europe, particularly for Germany, could affect the course of the second half of the 12 months and we’re due to this fact additionally cautious with regard to our fleet buying for 2024.”