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(Editing error in the first sentence fixed: Corona pandemic)
PULLACH (dpa-AFX) – The car rental company Sixt (Sixt SE St) expects negative consequences for the further course of business due to the new restrictions due to the corona pandemic. The positive momentum of the third quarter will not continue in the coming months due to the corona restrictions, said CEO Erich Sixt on Thursday when he presented detailed figures in Pullach near Munich. The uncertainties are still high. The management therefore does not trust itself to make a forecast for 2020.
The news was badly received on the capital market. The price of Sixt’s common shares dropped by almost 10 percent at times in the morning, but was recently only just under two percent in the red.
Nevertheless, Erich Sixt was convinced that Corona tends to promote the long-term trend towards individual mobility. Sixt is “well prepared” for the re-opening of the markets.
As already known, the company listed in the SDAX small cap index clearly felt the effects of the virus in the third quarter. Although Sixt generated a pre-tax profit of 66 million euros despite the difficult conditions, that was less than half as much as a year earlier. Group sales fell by almost 41 percent to 462.6 million euros. The surplus collapsed by around a third to 75.4 million euros./eas/stw/jha/