SIXT SE
Q1 2024 EARNINGS
SECOND TEXT LEVEL: LOCATION, MONTH 20XX
LEGAL DISCLAIMER
This presentation (together with the presenters' speeches and any other related verbal or written communications the "Presentation") contains forward-looking statements relating to the business, financial performance and results of Sixt SE (together with its subsidiaries, the "Company") and/or the industry in which the Company operates. Forward-looking statements concern future circumstances and results and other statements that are not historical facts, sometimes identified by the words "believes," "expects," "predicts," "intends," "projects," "plans," "estimates," "aims," "foresees," "anticipates," "targets," and similar expressions. Forward-looking statements, including assumptions, opinions and views of the Company or cited from third party sources, are solely opinions and forecasts which are uncertain and subject to risks. Actual events may differ significantly from any anticipated development due to a number of factors, including without limitation, changes in general economic conditions, in particular in the Company's target markets and changes in competition levels. The Company does not guarantee that the assumptions underlying forward-looking statements are free from errors nor does it accept any responsibility for the future accuracy of opinions or any obligation to update the statements in the Presentation to reflect subsequent events. Forward-looking statements are made only as of the date of the Presentation. Neither the
delivery of the Presentation nor any further discussions of the Company with any of the recipients thereof shall, under any circumstances, create any implication that there has been no change in the affairs of the Company since such date. Consequently, the Company does not undertake any obligation to review, update or confirm expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise in relation to the content of the Presentation. Furthermore, a totally different performance can ensue from an unexpected slump in demand or economic stagnation in our key markets. The actual development can differ materially from the forecasts made in this Presentation, in case one of the aforementioned risks or other risks not mentioned here should materialize and/or the assumption on which we have based our forecasts and prospects turn out to be wrong.
Certain industry and market information in the Presentation and/or related materials has been obtained by the Company from third party sources. The Company has not independently verified such information and neither the Company nor any of its directors provides any assurance as to the accuracy, fairness or completeness of such information or opinions contained in this document
and neither the Company nor any of its directors takes any responsibility for such information. This Presentation contains summary information only and does not purport to be comprehensive and is not intended to be (and should not be used as) the basis of any analysis or other evaluation. In addition, the information in the Presentation is subject to change. No representation or warranty (express or implied) is made as to, and no reliance should be placed on, any information, including projections, estimates, targets and opinions, contained herein, and no liability whatsoever is accepted as to any errors, omissions or misstatements contained herein. Due to rounding it is possible that figures may not add up exactly and that half or full year figures do not correspond to added quarterly figures. For the same reason, percentages may not exactly match absolute numbers they correspond to.
The Presentation does not constitute or form part of, and should not be construed as, an offer, solicitation or invitation to subscribe for, underwrite or otherwise acquire, any securities of the Company nor should it or any part of it form the basis of, or be relied on in connection with, any contract to purchase or subscribe for any securities of the Company, nor shall it or any part of it form the basis of or be relied on in connection with any other investment whatsoever.
Q1 2024 EARNINGS PRESENTATION | MAY 2024 | 2 |
KEY FIGURES
STRONGEST Q1 REVENUE EVER: 12% YOY GROWTH
DRIVEN BY STRONG DEMAND
REVENUE
[EUR m]
780.2 | |
695.1 | |
505.7 | |
Q1/2019 | Q1/2023 Q1/2024 |
FLEET | |
[Ø CARS] | |
149,000 162,300 | |
129,200 | |
Q1/2019 | Q1/2023 Q1/2024 |
EBT | ||
[EUR m] | ||
40.1 | ||
33.3 | ||
-27.5 | ||
Q1/2019 | Q1/2023 | Q1/2024 |
Q1 2024 EARNINGS PRESENTATION | MAY 2024
The figures for 2019 used in this presentation have been adjusted and relate to continuing operations. The Leasing segment wa s sold in July 2020.
GROWTH DRIVEN BY ALL SEGMENTS STRONGEST BOOST IN NORTH AMERICA
GERMANY
+11%
vs. Q1 2023 +11% vs. Q1 2019
EUROPE
+5%
vs. Q1 2023 +49% vs. Q1 2019
NORTH AMERICA
+22%
vs. Q1 2023+148% vs. Q1 2019
Q1 2024: EUR 243 million
Q1 2024: EUR 261 million
Q1 2024: EUR 275 million
Q1 2024 EARNINGS PRESENTATION | MAY 2024 | 5 |
SIXT IN NORTH AMERICA: CONTINUED EXPANSION
YVR | |||
SEA | |||
PDX | MSP | ||
SLC | ORD | ||
DEN | |||
SFO | EGE | IND | |
SJC | LAS ASE | ||
LAX | ABQ | MCI | |
PHX | |||
SAN | DFW | ||
SAT
LIH | OGG | IAH |
HNL
KOA
YYZ | BOS | |
PHL | JFK, EWR, LGA | |
PIT | BWI | |
IAD | DCA | |
RDU | ||
CVG | ||
BNA | CLT |
ATL JAX
MCO
TPA PBI
RSW FLL
MIA
>100 BRANCHES 46 TOP AIRPORTS
3 NEW U.S. AIRPORT BRANCHES AND
5 NEW DOWNTOWN BRANCHES ALREADY OPENED SO FAR IN 2024
NUMBER OF BRANCHES AT U.S. AIRPORTS
431 | 50 | ||||
35 | 39 | ||||
29 | |||||
24 | |||||
2019 | 2020 | 2021 | 2022 | 2023 | 2024E |
Q1 2024 EARNINGS PRESENTATION | MAY 2024 | 1As of 31 December 2023 | 6 |
EBT BRIDGE: STRONG REVENUE GROWTH OFFSET
BY MACRO HEADWINDS
EBT
[EUR m]
-27.2
85.2
-17.3
-59.5
33.3
-16.5
-25.3-27.5
EBT Q1 2023 Revenue | Fleet | Personnel | D&A | Financial | Others EBT Q1 2024 |
Expenses* | Result |
Q1 2024 EARNINGS PRESENTATION | MAY 2024
* The fleet expenses item comprises expenses for current rental operations (e.g. repairs, maintenance and reconditioning). | 7 |
MACRO HEADWINDS
Q1 2024 EARNINGS PRESENTATION | MAY 2024
MACRO HEADWINDS: ECONOMIC GROWTH PROJECTIONS,
INFLATION, INTEREST RATES, RESIDUAL VALUES
Economic outlook growth projections for FY 2024
GDP 2023 as | |||||
reference value | |||||
2.7% | |||||
1.5% | 1.5% | ||||
1.4% | 1.2% | 2.1% | 0.8% | ||
1.1% | 0.9% | ||||
1.1% | 1.3% | 1.0% | 0.9% | 0.5% | 0.2% |
A-23 | J-23 | O-23 | J-24 | A-24 |
Germany Eurozone USA
Development of key interest rates in the Eurozone & the U.S.
5.00% | 5.25% | 5.50% | ||||
4.50% | 4.75% | 4.25% | 4.50% | |||
4.00% | 3.75% | 4.00% | ||||
3.25% | 3.50% | |||||
2.50% | 2.50% | 3.00% | ||||
1.75% | 2.00% | |||||
1.00% | 1.25% | |||||
0.50% | 0.50% | |||||
Development of inflation rates in the Eurozone and the U.S.
12%
10%
8%
6%
4%
2%
0%
M-22M-22J-22S-22N-22J-23M-23M-23J-23S-23N-23J-24A-24
Eurozone U.S.
190.0Used car price development
170.0
150.0
130.0
110.0
90.0
70.0
50.0
M-22M-22J-22S-22N-22J-23M-23M-23 | J-23S-23N-23J-24M-24 | J-21A-21J-21 | O-21J-22A-22J-22O-22J-23A-23J-23O-23J-24A-24 | ||||||
ECB for the Eurozone | FED for the U.S. | Europe¹ | U.S.² | Germany³ | Germany (BEV)³ | ||||
Q1 2024 EARNINGS PRESENTATION | MAY 2024
Source (A): International Monetary Fund | 9 |
Sources (B): ¹AUTO1 Group Price Index, ²Manheim Used Vehicle Value Index, ³AutoScout24 Gebrauchtwagen-Preis-Index (AGPI) |
MACRO HEADWINDS CAUSED DIMINISHED
EBT ACROSS THE INDUSTRY
397
33.3 | 62 |
-27.5
-142
-581
Q1 2023 | Q1 2024 | Q1 2023 | Q1 2024 | Q1 2023 | Q1 2024 |
Q1 2024 EARNINGS PRESENTATION | MAY 2024 | 10 |
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Sixt SE published this content on 07 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 May 2024 10:03:29 UTC.