Sixt reported its highest first-half revenue in the company’s history, the Germany-based car rental supplier announced Wednesday.
Second-quarter consolidated revenue of €743.8 million increased 48.4 percent year over year from €501.2 million. Half-year revenue was €1.32 billion, up 59.4 percent from €831 million a year prior. The half-year total represented a 16.9 percent increase over the same period in 2019, according to the company.
First-half growth was driven by the company’s non-domestic markets. Though Germany’s first-half revenue was up 32.5 percent year over year to €387.7 million, international markets accounted for 70 percent of total revenue. Revenue from Europe outside of Germany increased 81.8 percent to €536.4 million. U.S. revenue was up 66.1 percent to €394.7 million.
In addition, Sixt reported Q2 consolidated earnings before taxes of €129.8 million, representing an increase of 66.6 percent year over year and contributing to a first-half record of €223.2 million, up from €64.2 million one year prior.
Sixt anticipates its international growth will continue. The company opened its first Canadian location in July in Vancouver and plans to expand into five of the country’s 10 largest airports. It also now is in 36 of the “50 most important airports” in the United States, according to the company.
“The expansion of our international footprint … and the consistent digitization of our products and services are central pillars of our success,” Sixt co-CEO Konstantin Sixt said in a statement. “With the recent entry in Canada, the development of Australia via a strong franchise partner with 160 stations and the successive expansion of our U.S. station network, we are stringently continuing this course.”
Despite continued vehicle production challenges, Sixt in the first half expanded its fleet to 129,400, an increase of 24 percent from the same period in 2021.
For full-year 2022, Sixt anticipates an increase in consolidated revenue from 2021, and expects consolidated EBT to be in the upper range of €380 million to €480 million. Still, the company noted “considerable uncertainties” for the rest of 2022 with “impending macroeconomic difficulties in Europe and the U.S.,” as well as continued limited vehicle availability as a challenge.
Sixt Q1 results
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