DGAP-News: Sixt SE / Key word(s): Half Year Results/Half Year Report 
Sixt SE: SIXT business development in the second quarter of 2021 reaches level of record year 2019 
2021-08-12 / 07:35 
The issuer is solely responsible for the content of this announcement. 
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SIXT business development in the second quarter of 2021 reaches level of record year 2019 - pandemic-related 
uncertainty remains despite expansion of market position in the United States and Europe, especially for the fourth 
quarter 
  . Earnings before taxes (EBT) of EUR 77.9 million in the second quarter already above the respective figure for 2019 
    combined with an above-average return of 15.6% 
  . Consolidated revenue doubled compared to 2020 due to strong US business, not least thanks to strategic acquisitions 
    at key airports, but also due to the significant upturn in demand in core European countries 
  . Investments in the fleet in the second quarter nearly doubled compared to the first quarter to EUR 2.1 billion and 
    were only 12% below the figure for the second quarter of 2019 
  . Costs fell by nearly 25% (EUR 140 million) compared to the second quarter of 2019 with only around 20% lower 
    quarterly revenue 
  . With available financial resources of around 1.5 billion euros, SIXT is well equipped for further fleet expansion 
  . SIXT plans significant investments in products, processes and technology as well as a substantial increase in staff 
    in the coming years 
  . Forecast issued for the full year 2021 for the first time despite continuing uncertainties due to the coronavirus 
  . Co-CEO Alexander Sixt: "SIXT has used the crisis as an opportunity and expanded its market position both in Europe 
    and especially in the United States. Despite the extremely positive result in the second quarter, the fourth 
    quarter of this year remains fraught with uncertainty." 
Pullach, 12 August 2021 - The international mobility services provider SIXT has used the coronavirus crisis to 
strengthen and expand its market position through targeted product expansion moves, strategic acquisitions, strict cost 
management and securing its solid capital and financing base. Following a significant pick-up in demand in the second 
quarter of 2021, particularly in the United States, the SIXT Group's business performance is on par with the record 
year of 2019. Consolidated earnings before taxes (EBT) of EUR is 77.9 million in the second quarter of this year, up 
6.3% from the comparable figure of EUR 73.3 million in 2019, although quarterly operating revenue of EUR 498.1 million 
was still around 20% below the level of 2019 (EUR 625.7 million). Looking at air traffic revenue, which fell by more 
than 62% globally compared to the second quarter of 2019, this decline in revenue is clearly disproportionate and the 
result of a highly flexible business model, targeted acquisitions and strategic product offensives at the right time, 
while optimising the cost base. Compared to the same quarter of the previous year, which was heavily impacted by the 
first corona-related lockdown, earnings even improved by around EUR 196 million. In addition, SIXT succeeded in 
reducing its costs significantly disproportionately compared to the lower revenue. Compared to the second quarter of 
2019, costs fell by nearly 25% (EUR 140 million), with quarterly revenue only around 20% lower, as already mentioned. 
Based on the very pleasing quarterly performance, which exceeded market expectations, and the renewed increase in 
travel activity, the Management Board had already issued a forecast for the full year 2021 for the first time on 20 
July. 
US as the driver of the positive business development 
Business in the United States, where travel activity is returning to normal as the vaccination campaigns progress and 
travel restrictions are largely lifted, was the driving factor behind the positive development at SIXT. Operating 
revenues in the US in the second quarter of 2021 were four times higher than in the same quarter of last year at EUR 
155.3 million, increasing by 65.3% to EUR 237.6 million for the first half of the year. The stations acquired at 10 
important US airports in 2020, where SIXT managed to achieve a market share of over 5% in the first year of business in 
some cases, made a significant contribution to growth. The increased price level due to the scarce supply of rental 
vehicles overseas also contributed. This was due to production backlogs in the automotive industry as a result of the 
global supply shortages for semiconductors, as well as reduced fleets across the car rental industry during the 
coronavirus crisis. 
Business in Europe picks up in the holiday season 
SIXT also saw a significant upturn in demand in other European countries with the start of the holiday season and the 
easing of travel restrictions. Operating revenues increased by 177.0% year-on-year to EUR 185.2 million in the second 
quarter of 2021. Strategic growth measures such as the SIXT+ car subscription offering that was launched in mid-2020 
and is now available in eight countries in Europe and the United States, and the internationalisation of the SIXT share 
car sharing service also contributed to this. SIXT expects to have gained further market share in important European 
markets in the first half of the year. Last year, its market share in Europe (including SIXT franchisees) had already 
risen to around 17%. 
Business development in Germany has been somewhat more restrained, mainly due to business travel still below 
pre-coronavirus levels. For example, despite upward trends, the number of air passengers travelling in Germany in June 
was still 77% below the same month in the pre-crisis year 2019. The domestic long-term rental business with SIXT+ in 
particular developed positively. Domestic operating revenues increased by 30.6% year-on-year in the second quarter to 
EUR 157.5 million. 
Fleet significantly expanded again - financing base remains solid 
In the wake of rising demand, SIXT has significantly expanded its fleet. The mobility service provider added around 
70,900 vehicles worth EUR 2.1 billion to its global fleet in the second quarter. SIXT succeeded in adapting its own 
fleet very well to the increased demand despite the ongoing chip crisis and thus achieved an increase in sales: For 
example, while the number of new car registrations in Germany is around 25% below the level of the second quarter of 
2019, SIXT is only 14% away from the level of the second quarter of 2019 in terms of fleet investments. With available 
financial resources of around 1.5 billion euros and against the backdrop of the long-established cooperation with all 
relevant OEMs, SIXT is well equipped for further fleet expansion. With on-balance sheet equity of EUR 1.45 billion as 
of 30 June 2021, the Group has an equity ratio of 30.8%, which is well above the industry average (31 December 2020: 
31.5%). 
Alexander Sixt, Co-CEO of Sixt SE: "SIXT has used the crisis as an opportunity and expanded its market position both in 
Europe and especially in the United States. Based on an optimised cost base, this is the result of a highly flexible 
business model, targeted acquisitions, and strategic product offensives at the right time. Above all, it is the result 
of the work of our highly motivated SIXT teams all over the world, who have made SIXT stronger despite all the 
challenges posed by the pandemic. Despite the extremely positive result in the second quarter, the fourth quarter of 
this year remains fraught with uncertainty. Here we are ultimately dependent on the course of the infection and the 
decisions of politicians." 
Konstantin Sixt, Co-CEO of Sixt SE: "SIXT is always looking ahead. That is why we will expand our strategic investments 
in products, processes, and technology in the coming years to drive the internationalisation of our business and the 
digitisation of our service offering. The strategic growth measures in the past year, such as the launch of the car 
subscription offer SIXT+, the investments in our van & truck business and the launch of our mobility platform ONE, were 
the right steps at the right time." 
Prof. Dr. Kai Andrejewski, CFO of Sixt SE: "Even though there are of course uncertainties concerning the course of 
business in the second half of the year due to the coronavirus, we at SIXT have every reason to be optimistic about the 
future. Our great financial leeway and thus full capacity to act are an important success factor in the current market 
situation. We also owe this to a disproportionate reduction in costs compared to the sales development. SIXT is 
therefore ideally prepared to take new growth steps on the capital and financing side." 
Outlook for the full year 2021 
Following the good performance in the second quarter, Sixt SE issued a forecast for financial year 2021 for the first 
time on 20 July, which the Management Board is confirming today. For 2021, the Board expects consolidated operating 
revenues of between EUR 1.95 billion and EUR 2.10 billion (2020: EUR 1.52 billion) and Group earnings before taxes 
(EBT) in the range of between EUR 190 million and EUR 220 million (2020 from continuing operations: EUR -81.5 million). 
This forecast was prepared on the basis of the current market environment and is based in particular on the assumptions 
that the further course of the COVID-19 pandemic will not again lead to more profound restrictions on travel, that the 
price level in the United States and Europe will continue and that the supply bottlenecks for vehicles as a result of 
the semiconductor crisis will not worsen. 
Q2 2021 - Key Group figures 
  . Consolidated operating revenue amounted to EUR 498.1 million for the period April to June 2021, 120.6% more than in 
    the same quarter of the previous year (EUR 225.8 million), which was strongly affected by the first lockdown 
    following the outbreak of the corona pandemic. The foreign share increased from 46.6% to 68.4% in the second

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August 12, 2021 01:35 ET (05:35 GMT)