Bangkok--20 Mar--eTurboNews
The Sixt Group generated record operating revenue and earnings for financial year 2006. According to preliminary figures, consolidated earnings before taxes (EBT) increased by 33.9% to EUR 121.6 million (previous year: EUR 90.9 million). This again outperforms the forecasts of an increase in operating profit of at least 25%, which had been lifted on several occasions during the course of the year. The mobility services provider reported consolidated earnings after taxes of EUR 73.8 million, up 31.7% on the prior-year period (EUR 56.0 million).
The extremely positive earnings development was due to the further significant growth of the operating business, progress made in international expansion and costs that rose at a slower pace than sales. Consolidated operating revenue from the rental and leasing business (excluding revenue from the sale of used leasing vehicles), which best reflects Sixt's business development, rose by 12.6% to EUR 1.21 billion in 2006 (previous year: EUR 1.08 billion). This puts it within the announced target range (10-15% increase). Total consolidated revenue (including revenue from the sale of used leasing vehicles) reached EUR 1.44 billion, compared with EUR 1.34 billion in the prior-year period (+8.0%).