Posted 05/29/2018 11:04:10 PM
PULLACH (GERMANY), May 29 (EUROPA PRESS) –
The rental company of vehicles and mobility services Sixt recorded a consolidated profit of 214.6 million euros in the first quarter of the current year, which means multiplying by more than eight the figures recorded in the previous year.
The German company explained that this significant improvement in its quarterly profit is due to the sale to BMW of its stake in the joint venture DriveNow, which gave it an income of 196 million euros.
However, the company explained that, without counting on these extraordinary effects, the corporate result would have been “significantly” above that recorded during the same period last year.
The CEO of the company, Erich Sixt, said that Sixt exceeded its profit forecasts in the first quarter. “For Sixt the growth in volume does not come from a reduction in profitability,” he added.
Between January and March of this year, the car rental company posted a consolidated turnover of 625.7 million euros, which represents an increase of 9.9% compared to 569.3 million euros in those months of the year previous.
In addition, the profit before taxes was 244.2 million euros, 563% more, while the operating profit stood at 59.3 million euros, which translates into a rise of 29.4% to the data of the previous year.
For the whole of the current year, Sixt contemplates experiencing a “significant” increase in its profit before taxes, even without counting the contribution to its accounts from the sale of the participation in DriveNow.