Sixt doubles profit
Author: Marcus Schilling
Positive forecast, but a lot of work
The car rental company Sixt, one of the largest in Germany, doubled its profit to 439 million euros in 2018. The reason for this is the constantly growing demand for rental cars at home and abroad and the sale of the stake of DriveNow, a car sharing company, to BMW. CEO Erich Sixt looks positively on the current year. On Monday, he announced that he expects a significant increase in sales and stable earnings before taxes.
The car rental business in the USA and other European countries continues to expand. However, Sixt still has a lot of work to do. Further stations have to be set up and the digital networking of the fleet and the rental business with the new car sharing app of the car rental company has to be optimized.
According to Sixt, last year was the fifth record year in a row for the company. Group sales rose to 2.93 billion euros, an increase of 12.6 percent. Earnings before taxes even rose to 535 million euros.