“We are not yet feeling the weaker economy,” said CFO Kai Andrejewski of the “Börsen-Zeitung” (Saturday edition). “Despite the growing uncertainties, we are assuming that development will be stable overall.”
In mid-September, the MDAX member had significantly increased its forecast for the year. Contributing to this were the skyrocketing prices for rental cars when there was a shortage of supply. The entire industry will benefit from this price increase after the corona shock has been overcome in 2020.
The CFO of Germany’s market leader is convinced that this price trend will continue: “We had a lot of catching up to do in terms of prices. I would like to remind you that there has been a price slump on the supply side for the past ten years or so. We assume it will be permanent higher price level.”
According to Andrejewski, Sixt has become more crisis-resistant overall. He justifies this at the operational level with the greater diversification of the business. “Around two-thirds of the business now comes from the retail sector, and around one-third comes from the business segment. For us, this means increased resilience to crises. We have expanded the retail business more in order to diversify the group.” This is less susceptible to economic fluctuations. “Sixt is also more broadly positioned with its activities in the USA and Europe,” said Andrejewski.
Meanwhile, the family-owned company continues to expand its business in the world’s largest car rental market, the United States. “The USA is the core market of the future for us,” says the manager. However, the German market remains “enormously important” for Sixt. According to Andrejewski, this includes the introduction and testing of product units and the expansion of electromobility. “The development of innovations at Sixt often comes from the home market in order to later scale them worldwide.”
On Friday evening, Sixt shares were listed on Tradegate at EUR 80.05 at times, around 2.4 percent below their XETRA closing price.
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