Sixt SE reported that its preliminary earnings before interest, taxes, depreciation and amortisation or EBITDA for fiscal year 2023 rose about 16% to 1.33 billion euros from the prior year.
The company reported Earnings before taxes (EBT) of 464.3 million euros in 2023, exceeding the pre-Covid record result in 2019 by more than 50%.
Annual revenue was 3.62 billion euros, an increase of 18.1% from the previous year.
The company said its management board plans to propose a dividend of 3.90 euros per ordinary share and 3.92 euros per preference share for the past financial year at the company's upcoming Annual General Meeting.
Sixt SE expects consolidated earnings before taxes or EBT to be in the range of minus 15 million euros to minus 28 million euros for the first quarter of 2024 compared to 33.3 million euros in the prior year. The main reasons for the noticeable decline in consolidated earnings in the first quarter that is usually weak are higher interest expenses and increased depreciation due to lower residual values and the early sale of electric risk vehicles.
The company expects a significant increase in consolidated revenue for the first quarter of 2024 compared to 695.1 million euros last year.
For financial year 2024, Sixt SE expects consolidated earnings before taxes (EBT) to be between 400 million euros and 520 million euros compared to 464 million euros in financial year 2023.
The company projects significant growth in consolidated revenue for financial year 2024 compared to the previous year's 3.62 billion euros. The high demand that is expected and continued international expansion are the main driving factors.
Sixt SE said it will publish its audited Consolidated Financial Statements for 2023 and the Annual Financial Statements of Sixt SE on 27 March 2024.
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