30% increase in the record income of Sixt Dents Dents

The international rental area Sixt announced record income for 2024, although the vehicle letter made profits.

The company's turnover last year was € 4 billion, thanks to the growth in its three most important markets of Germany, an increase of 6% compared to the previous year, an increase of 6% compared to the previous year, and North America, an increase of 22% compared to the previous year, as well as the company's commitment to a premium fleet policy.

Vehicles from Audi, BMW, Mercedes-Benz and Mini made about 50% of the Siff fleet, although this approach was not sufficient to protect them from the vehicle remains from the industry last year.

Headwind

The results of the company show an increase in depreciation by 29.7% in 2024 compared to the past 12 months, whereby North America has been hit particularly hard. If the residual values ​​had remained at the level of 2023, profits before Sixt would be almost € 100 million higher, although the company would have increased the non-risky proportion of its fleet (covered by buying or leasing agreements) to 79% in the previous year from 73% in 2023.

In 2024, the company cost higher interest rates.

These headwind caused a decline in profits before tax to € 27.8% to € 335.2 million (€ 2023: € 464.3 million), the damage caused in the first half of the year. The input tax results in the third quarter and the fourth quarter were higher than in the same periods of 2023, and this year the company expects considerably improved purchase conditions to achieve a strong tailwind for the result.

Alexander Sixt, Co-CEO from Sixt SE (shown above), said: “2024 was a challenging year for car rental. Nevertheless, we got record income for the third time in a row. “

He added that the company would pursue a policy of planning a close fleet in order to ensure a high degree of occupancy and to keep its fleet size within the level of inquiries. The average fleet size in 2024 without franchise company was 184,300 vehicles, 8.9% before the average of 169,100 vehicles from 2023.

Pictures: Sechz