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DGAP-News: Sixt Leasing SE / Key word(s): Annual Report/Annual Results
Sixt Leasing SE publishes Annual Report 2020
Pullach, 28 April 2021 - Sixt Leasing SE, a leading provider in online direct sales of new vehicles in Germany as well as a specialist in the management and full-service leasing of large fleets, has published its Annual Report 2020. Accordingly, there were no deviations from the preliminary annual figures which had already been published in March 2021. The business development in 2020 is in line with the expectations adjusted in July and October 2020. The forecast issued in March continues to apply for the 2021 financial year.
Consolidated earnings before interest, taxes, depreciation and amortisation (EBITDA) declined by 9.1 per cent to EUR 211.4 million. Consolidated earnings before taxes (EBT) fell by 68.9 per cent to EUR 9.1 million due to various special effects. As a result, the operating return on revenue (EBT/operating revenue) was 2.2 per cent (2019: 6.3 per cent). Consolidated profit decreased by 89.9 per cent to EUR 2.2 million. Adjusted for one-off and extraordinary effects from the takeover of the company by Hyundai Capital Bank Europe GmbH as well as the increased risk provisioning in connection with vehicle residual values, EBT ("adjusted EBT") amounted to EUR 20.8 million.
Michael Ruhl, CEO of Sixt Leasing SE: "In 2021, we want to continue to successfully drive forward the digitalisation of our products, services and internal processes. In addition, we plan to introduce a mobility budget for fleet customers and expand our business model to include used car leasing. Another focus will be on the acquisition of smaller fleet customers and especially on service quality."
In the first quarter of 2021, Sixt Leasing achieved three further milestones in the implementation of its strategy with the launch of a new fleet customer app, the rebranding and reorientation of its autohaus24 subsidiary and the introduction of a completely digital ordering process for private customers on sixt-neuwagen.de. In addition, Sixt Leasing has launched a long-term cooperation with Vehiculum via sixt-neuwagen.de to market attractive new cars on the Internet.
The reason for the cautious forecast for the full year 2021 is, in addition to the operating business development in the 2021 financial year to date, primarily the ongoing COVID-19 situation. In this respect, the company assumes that the market and business environment will continue to be strongly negatively impacted by the COVID-19 pandemic and expects a recovery in business development in the second half of 2021 at the earliest.
In addition, consolidated earnings will also be burdened in the 2021 financial year by transaction-related costs in connection with the takeover of the company by Hyundai Capital Bank Europe GmbH.
In this context, EBT for the first quarter of 2021 is expected to decline very sharply compared to the corresponding period of the previous year (Q1 2020: EUR 5.6 million) according to the Managing Board's estimates.
The complete forecast for the 2021 financial year is included in the Annual Report 2020 of Sixt Leasing SE. This can be accessed at http://ir.sixt-leasing.com/annual-reports.
About Sixt Leasing:
Sixt Leasing SE based in Pullach near Munich is a leading provider in online direct sales of new vehicles in Germany as well as specialist in management and full-service leasing of large fleets. With tailor-made solutions, the company enables the longer-term mobility of its private and corporate customers.
Private and commercial customers use the online platforms sixt-neuwagen.de and autohaus24.de to lease new vehicles affordably. Corporate customers benefit from the cost-saving leasing of their vehicle fleet and from efficient fleet management.
Sixt Leasing SE (WKN: A0DPRE / ISIN: DE000A0DPRE6) has been listed in the Regulated Market of the Frankfurt Stock Exchange (Prime Standard) since 7 May 2015. In financial year 2020, the Group generated consolidated revenue of EUR 748 million.
Sixt Leasing SE
28.04.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
Sixt Leasing SE
+49 (0)89 744 44 - 4518
+49 (0)89 - 744 44 - 8 5169
DE000A0DPRE6, DE000A2DADR6, DE000A2LQKV2
Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange; Luxembourg Stock Exchange
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