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Investing.com -- Sixt SE (ETR:SIXG) reported second-quarter revenue of €1.083 billion, in line with the €1.078 billion consensus and up 7.4% from a year earlier, supported by strong growth in its short-term rentals business.
Corporate EBITDA rose 43% to €171.9 million, while EBT jumped 71% to €107.3 million, compared with €62.9 million in the prior-year quarter and close to the €108 million consensus.
Net profit climbed 62% to €78.4 million from €48.3 million.
"Sixt’s Q2 print was solid, in line with expectations that were set higher following a stronger than anticipated summer start," Jefferies analysts said in a note.
Average selling prices (ASPs) remained elevated, rising 1.7% year-on-year, underpinned by solid vehicle utilization and pricing.
Combined with a larger fleet, revenue growth was led by Europe excluding Germany, which rose 13.7% to €456 million, followed by North America up 4.8% to €334.6 million, and Germany up 1.2% to €289.2 million.
Profitability improved on stronger volumes and a focus on utilization.
The fleet expanded 5.7% to 197,800 vehicles, with ASP per vehicle holding firm at €5,500 compared with €5,400 a year earlier.
"The continued solid pricing discipline in the industry creates a positive backdrop for the coming summer quarters, which combined with a stronger than expected travel demand should yield continued good profitability for the coming quarters," Jefferies continued.
Sixt reaffirmed its 2025 guidance for revenue growth of 5–10% to €4.2–4.4 billion and an EBT margin “in the area” of 10%, equivalent to around €430 million.