SIXT announces record financial performance for 2022
SIXT has announced plans for a substantial expansion of its fleet this year after posting record financial results for 2022.
The preliminary figures reveal the international rental giant grew its revenues by 34.3% year-on-year to €3.07 billion in 2022, and increased its earnings before taxes by 24.4% to an all-time high of €550.2 million, which is 78.5% ahead of its pre-Covid EBT in 2019. Its net profit after taxes totalled €385.7 million, an increase of 23.2% over 2021 (€313.2 million).
SIXT managed to increase its global rental fleet in its corporate countries by more than 10% compared to 2021, to an average of 138,400 cars, despite the semiconductor crisis limiting the supply of new vehicles. BMW (incl. Mini), Audi and Mercedes-Benz accounted for 57% of SIXT’s fleet in 2022, while electric cars, including plug-in hybrids and mild hybrids, grew to 14% of its fleet. SIXT is aiming for an e-share of 70 to 90% by 2030, and has placed a huge order for up to 100,000 electric cars from BYD.
Alexander Sixt, Co-CEO of Sixt SE (pictured above), said: “2022 was the second record year in a row for SIXT. The results show that our Group has reached a noticeably higher level in terms of its strategic positioning, earnings power and resilience than before the Covid pandemic.”
He added that the company had invested heavily last year in its fleet, staff, technology and marketing, laying the foundations for future growth.
Last year saw SIXT launch a corporate operation in Canada, and the company has almost doubled its revenues in the US since 2019, and the company is forecasting a positive outlook for 2023 as global travel continues its return towards pre-pandemic levels.
“We expect to see a significant increase in consolidated revenue for the full year 2023,” said Sixt. “Our forecast is based on demand returning to pre-pandemic levels, as seen in 2022 and the first weeks of 2023, but at higher prices.”
For 2022, SIXT is proposing to pay shareholders €4.11 per ordinary share, €4.13 per preferred share and a special dividend of €2 per ordinary share and preferred share.