Sixt Reports its Highest Full-Year Earnings

Ground transportation provider Sixt cited strong growth in both the United States and Europe as the driver for the company’s full-year 2021 earnings of €442 million before taxes, a company record, Sixt announced Wednesday. The figure is 43.4 percent above 2019 earnings. 

The company also noted that higher market prices led to a 49 percent year-over-year increase in revenue to €2.28 billion, with “significant” market share gains in Europe (except for Germany, for which it reports separately), with sales up 63.5 percent, and in the United States, with revenue up 121.3 percent to €163.6 million. Revenue in Germany increased 8.9 percent year over year to €739.6 million.

“We are well prepared for 2022, and currently expect an increase in revenue compared to 2021,” Sixt co-CEO Alexander Sixt said in a statement. “Of course, we are following the war in Ukraine with concern, especially since Sixt has a small development site in Kiev.”

Sixt expanded its presence at 10 major airports in the United States during the year, bringing it to 26 of the 30 largest U.S. airports, according to the company. It also expanded in Australia with its NRMA partnership and had openings in new European countries. 

Despite supply-chain challenges for semiconductors, Sixt managed to increase its fleet during 2021 by 10.1 percent year over year to 125,300 cars.

The company plans to launch with its partner Mobileye in Munich a robo-taxi pilot project for autonomous driving, according to co-CEO Konstantin Sixt. “We are also investing heavily in the expansion of our range of e-vehicles and are aiming for a 12 percent to 18 percent share of electric and hybrid vehicles in our global fleet by 2022,” he said.