Sixt: US soon bigger market than Germany
Sixt just published the strongest half-year revenue in its history, increasing its operating revenue to €1.35 billion (up 14.3% compared to H1 2018). The Mobility Business Unit (which bundles the mobility services of Sixt rent, Sixt share and Sixt ride), even grew by 18.1% to €1.13 billion, thanks in particular to excellent results in the US.
“We've further extended our position as Europe's leading mobility service provider. With over 270,000 vehicles, our fleet is bigger than ever before,” said CEO Erich Sixt (pictured). “I'm particularly pleased to see our customers respond so well to our digital and innovative mobility services.” Sixt is developing so much above expectations that the company might just invest even more into these markets during H2, Mr Sixt suggested.
Already present at 19 of the country's 25 most important airports, Sixt saw its US revenue grow by around 30%. In a market with a total volume of $31 billion, Sixt reckons it can generate $1 billion over the medium term – at which point the US would replace Germany as the company's biggest market. Overall foreign operations saw revenue grow by 26.3% (to €675.5 million), raising its share of overall revenue over 60% for the first time.
Sixt's mid-year report also hailed the successful launches of its app, together with its mobility platform Sixt One, and its new car subscription model. The company will continue to invest record amounts in fleet, international expansion and digital mobility. In light of its positive half-year results, Sixt confirms its whole-year outlook for 2019.