Sixt SE / Key word(s): Forecast
Sixt SE: Sixt SE announces new forecast for financial year 2020
23-Nov-2020 / 17:35 CET/CEST
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Sixt SE announces new forecast for financial year 2020
Pullach, 23 November 2020 - On the basis of the figures for the first three quarters of financial year 2020 published on 12 November 2020 and the latest information on its business performance in the fourth quarter, the Managing Board of Sixt SE approved a new forecast for financial year 2020 today. Prior to this, Sixt SE had withdrawn its previous forecast for financial year 2020 on 4 August 2020 and refrained from publishing a new forecast due to the strongly increased uncertainty concerning the extent of the adverse effects in connection with the COVID-19 pandemic.
For financial year 2020, the Managing Board of Sixt SE expects consolidated operating revenue of around EUR 1.50 billion (2019 adjusted: EUR 2.49 billion). Earnings before taxes (EBT) of the Sixt Group (from continuing operations) for financial year 2020 are expected to be in the range between EUR -70 million and EUR -95 million (2019 adjusted: EUR 308 million).
The reason for the ranges is the COVID-19 pandemic, which is currently spreading more strongly again, and the associated contact and travel restrictions, the effects of which on the business operations of the Sixt Group are subject to a high degree of uncertainty. The new forecast is also based on the assumption that the COVID-19 pandemic will not spread even more severely in the current year and that there will be no further significant regulatory restrictions, in particular contact and travel restrictions.
The results from the discontinued Leasing segment, in particular the one-off effect from the sale of the shareholding in Sixt Leasing SE, are not included in the forecast. Of these results, the shareholders of Sixt SE are entitled to earnings after taxes of around EUR 65 million.
Note: "Consolidated operating revenue" is not a key figure in accordance with IFRS. Information on the composition of consolidated operating revenue is available in the 2019 Annual Report of Sixt SE on page 101 (available at ir.sixt.eu). For better comparability, the previous year's figures for financial year 2019 have been adjusted for the discontinued leasing business unit.
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