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DGAP-News: Sixt Leasing SE expands contract portfolio in Online Retail and Fleet Management in third quarter 2019

Autor: DGAP - EQS Group AGauf twitter
12.11.2019, 07:30:07






DGAP-News: Sixt Leasing SE


/ Key word(s): 9 Month figures/Quarter Results





Sixt Leasing SE expands contract portfolio in Online Retail and Fleet Management in third quarter 2019





12.11.2019 / 07:30



The issuer is solely responsible for the content of this announcement.
Sixt Leasing SE expands contract portfolio in Online Retail and Fleet Management in third quarter 2019

Increase in new business brings Online Retail business field back onto growth track in third quarter - Fleet Management continues to grow as well
Consolidated revenue up by nearly 6 per cent in first nine months of 2019 to EUR 633 million - operating revenue down slightly
EBT of EUR 21.5 million below previous year - Q3 strongest quarter in year to date at EUR 7.4 million
Managing Board confirms forecast for full year 2019
Pullach, 12 November 2019 - Sixt Leasing SE, market leader in online direct sales of new vehicles in Germany as well as specialist in the management and full-service leasing of large fleets, has expanded the contract portfolios in its Online Retail and Fleet Management business fields in the third quarter of 2019. In the Online Retail business field, the contract portfolio increased by 2.7 per cent in the period from the end of June to the end of September. This was particularly due to the successful sales cooperation between Sixt Neuwagen, Fiat and Tchibo. The Fleet Management business unit also saw its contract portfolio increase by 2.7 per cent on the previous quarter, maintaining its growth momentum. In the Fleet Leasing business field, the contract portfolio declined by 3.3 per cent over the third quarter. Overall, the Group's contract portfolio in Germany and abroad (excluding franchise and cooperation partners) grew by 0.8 per cent in the period from the end of June to the end of September 2019.

Michael Ruhl, CEO of Sixt Leasing SE: "The positive signals from the Online Retail business field and ongoing growth in the Fleet Management business unit give us confidence for the future development of the contract portfolio. Thanks to the takeover of Flottenmeister GmbH by our subsidiary Sixt Mobility Consulting GmbH, we are now even expecting the Group's contract portfolio to be significantly higher at year-end 2019 than last year."

In the Online Retail business field, Sixt Leasing ran an innovative sales campaign in cooperation with Fiat and Tchibo from the end of June to early September. It involved the marketing of new, well-equipped Fiat 500 Lounge vehicles on particularly attractive terms to private customers via the online platform sixt-neuwagen.de. The campaign was very popular with both private customers and participating Fiat dealers.

In the Fleet Management business unit, Sixt Mobility Consulting launched a new self-service app for company car users in the third quarter. 'The Companion' enables company car drivers to complete important car-related tasks - like making workshop appointments - quickly and easily at any time using their smartphone. Thus, Sixt Mobility Consulting is pushing ahead with the digitalisation of its business model and setting up its operations much more efficiently.

At the start of the fourth quarter, Sixt Mobility Consulting GmbH also announced the acquisition of all shares of Flottenmeister GmbH. The independent fleet manager, also based in Pullach near Munich, had more than 7,000 company cars under management at the end of September. The contracts are going to be transferred to the contract portfolio of the Sixt Leasing Group in the course of the fourth quarter 2019.

Business performance in 9M 2019

The Group's contract portfolio in Germany and abroad (excluding franchise and cooperation partners) decreased by 2.0 per cent to 127,200 contracts during the period from the beginning of January to the end of September 2019. This was mainly due to the decline in the first quarter. In the second and third quarters, however, the contract development was positive.

Consolidated revenue rose by 5.5 per cent to EUR 633.0 million compared to the same period last year. This is mainly attributable to the strong increase in sales revenues, especially from the considerably higher number of returned lease vehicles from the Online Retail business field. Consolidated operating revenue (excluding sales revenue) declined slightly by 2.3 per cent to EUR 350.0 million.

Consolidated earnings before taxes (EBT) came to EUR 21.5 million for the first nine months of 2019, which is 7.8 per cent down on the previous year. The third quarter saw the strongest pre-tax earnings of the year to date at EUR 7.4 million.

This brought the operating return on revenue for the first nine months of 2019 to 6.2 per cent (-0.3 percentage points). Consolidated net profit came to EUR 16.1 million (-9.5 per cent).

Outlook

In line with the adjusted full-year guidance published on 22 October 2019, the Managing Board is expecting the Group's contract portfolio at year-end to be significantly higher than last year. It is also anticipating consolidated operating revenue for the financial year 2019 in the range of EUR 465 million and EBT in the range of EUR 29 million.

By the end of the 2021 financial year, the Managing Board continues to expect an increase of the Group's contract portfolio to around 200,000 contracts and an increase in consolidated operating revenue to around EUR 650 million. EBT is still expected to increase to EUR 40 to 45 million.

---

The Group's Quarterly Statement as of 30 September 2019 can be downloaded from http://ir.sixt-leasing.com/interim-reports.
 

About Sixt Leasing:
Sixt Leasing SE based in Pullach near Munich is market leader 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 fiscal year 2018, the Group generated consolidated revenue of EUR 806 million.www.sixt-leasing.com

Contact:
Sixt Leasing SE
Investor Relations
Stefan Kraus
+49 89 74444 4518ir@sixt-leasing.comTHE SIXT LEASING GROUP IN 9M 2019 AT A GLANCE1
 

Revenue developmentin EUR million
9M
2019
9M
2018
 Change
in %
   Operating revenue
350.0
358.0
-2.3
   Sales revenue
283.0
242.1
16.9
Consolidated revenue
633.0
600.1
5.5
   Thereof Leasing business unit
555.3
524.7
5.8
      Thereof leasing revenue (finance rate)
167.7
176.7
-5.1
      Thereof other revenue from leasing business
142.9
141.7
0.8
      Thereof sales revenue
244.8
206.6
18.6
   Thereof Fleet Management business unit
77.7
75.4
3.0
      Thereof fleet management revenue
39.4
39.6
-0.5
      Thereof sales revenue
38.2
35.8
6.9
 
 
 
 
Earnings developmentin EUR million
9M
2019
9M
2018
 Change
in %
Fleet expenses and cost of lease assets
418.9
378.0
10.8
Personnel expenses
31.3
27.2
15.1
Net other operating income/expense
-11.1
-13.6
18.0
Earnings before interest, taxes, depreciation and amortisation (EBITDA)
171.6
181.3
-5.4
Depreciation and amortisation expense
141.1
147.7
-4.5
Net finance costs
-9.0
-10.3
12.2
Earnings before taxes (EBT)
21.5
23.4
-7.8
   Thereof Leasing business unit
18.6
19.9
-8.5
   Thereof Fleet Management business unit
2.9
3.5
-17.1
Operating return on revenue (in %)2
6.2
6.5
-0.3pp
Income tax expense
5.4
5.5
-2.2
Consolidated profit
16.1
17.8
-9.5
Earnings per share (in EUR)
0.78
0.87
-
 
 
 
 
Contract portfolio
 
30 Sep 2019
31 Dec 2018
 Change
in %
Group contract portfolio
127,200
129,700
-2.0
   Thereof Online Retail business field
43,600
44,700
-2.5
   Thereof Fleet Leasing business field
39,400
43,000
-8.4
   Thereof Fleet Management business unit
44,200
42,000
5.2
 
 
 
 
Balance sheet figuresin EUR million
30 Sep 2019
31 Dec 2018
 Change
in %
Total equity and liabilities
1,330.6
1,392.7
-4.5
Lease assets
1,125.8
1,204.4
-6.5
Financial liabilities
945.6
1,026.1
-7.8
Equity
223.1
216.8
2.9
Equity ratio (in %)
16.8
15.6
1.2pp
 
 
 
 
Cash flowin EUR million
9M
2019
9M
2018
 Change
in %
Gross Cash flow
150.6
174.5
-13.7
Investments in lease assets
294.6
386.9
-23.9
--
1 Rounding differences possible2 Ratio of EBT to operating revenue












12.11.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

Language:
English
Company:
Sixt Leasing SE

Zugspitzstraße 1

82049 Pullach


Germany
Phone:
+49 (0)89 744 44 - 4518
Fax:
+49 (0)89 744 44 - 8 4518
E-mail:
ir@sixt-leasing.com
Internet:
http://ir.sixt-leasing.de
ISIN:
DE000A0DPRE6, DE000A2DADR6, DE000A2LQKV2
WKN:
A0DPRE
Listed:
Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange; Luxembourg Stock Exchange
EQS News ID:
910025

 
End of News
DGAP News Service




910025  12.11.2019