FX.co ★ Sixt Q1 Revenue Rises, Cuts FY24 Outlook

Sixt SE, noted by its stock symbol SIXGF.PK, released a statement on Friday indicating a 12.3 percent rise in its revenue to 780.2 million euros during the first quarter. This surge was primarily attributed to robust demands.

The company's Earning Before Interest, Taxes, Depreciation, and Amortization (EBITDA) for the quarter was noted at 217.8 million euros, while it reported an Earning Before Tax (EBT) of negative 27.5 million euros.

Apart from its robust financial performance, the well-reputed rental and leasing services provider also revealed some revisions to its forecast.

Looking forward, for the fiscal year 2024, Sixt has adjusted its anticipated EBT from the previously expected amount of 400 to 520 million euros, down to 350 to 450 million euros. Additionally, for the upcoming second quarter, the company predicts its EBT will be between 60 and 90 million euros, a reduction compared to its former forecast of 131.9 million euros.