PULLACH (dpa-AFX) - Following a loss at the beginning of the year, car rental company Sixt has returned to profit in the second quarter. Of the 8.9 percent increase in turnover to around one billion euros, a pre-tax profit of 62.9 million euros remained, as the company announced in Pullach on Wednesday. This was just short of the target range of 60 to 90 million euros, although there was a significant decline compared to the almost 132 million euros achieved in the same period last year. Compared to the estimates of analysts surveyed by the Bloomberg news agency, however, the result was disappointing. In addition, the Sixt Managing Board lowered its forecast for the year, also falling short of market expectations.

Pre-tax earnings for 2024 are now expected to be between EUR 340 and 390 million. Previously, the Sixt Managing Board had planned 350 to 450 million. And analysts had expected 382.5 million. The outlook is subject to a high degree of uncertainty, according to the Sixt press release. This applies in particular due to the recent further intensification of geopolitical and economic risks, the still uncertain development of residual values and the short booking periods for the important summer business./lew/jha/