Sixt generated revenue of €925.1 million (£797m) in the second quarter of 2023 – the highest second quarter revenue in the company’s history and equates to an increase of 24.4% compared to the same quarter of last year.

Consolidated earnings before taxes (EBT) rose to a record level of €131.9m (£113m)  in the second quarter (Q2 2022: €129.8m).

The EBT margin was at 14.3%, significantly above the record figures from the pre-Covid period (Q2 2019: 11.7%).

Sixt benefitted from continued strong demand for travel at the start of the summer period, a record fleet (excluding franchises) of 166,300 rental vehicles (a 24.6% increase compared to Q2 2022) and rental car prices that remain well above 2019 levels.

The B2B segment and the long-term rental business contributed disproportionately to revenue growth in the second quarter.

Sixt also posting an increase in revenue of 22.3% and, with revenue of €1.62 billion (£1.4bn), achieved the strongest figure for a first half-year to date.

Konstantin Sixt, co-CEO, said: “We are very satisfied with our business performance. The main success factor for Sixt is and remains the premium offering we make available to our customers, which we have once again expanded significantly.

“Last, but not least, we increased our staff by around 850 additional employees in the course of the first half of the year. We would like to thank the entire staff for their extraordinary performance.” 

Alexander Sixt, co-CEO, added: “We achieved a record result in the second quarter, and we continue to target a significant increase in revenue as well as EBT within our EBT forecast of €430m (£370m) to €550m (£473m) for the full year. Our earnings will thus be significantly above our pre-COVID year 2019.

“The current uncertain macroeconomic situation for Europe, especially for Germany, may influence the course of the second half of the year and we are therefore also cautious with regard to our fleet purchasing for 2024.” 

Sixt says it is also on track when it comes to the electrification of its fleet.

In the first quarter, the company for the first time achieved an electrification rate (including PHEV, MHEV) of more than 20% in the European corporate countries and was able to maintain this rate in the second quarter.

Sixt is aiming to have an electric share of 70-90% in Europe by 2030. Its electrified fleet includes many battery electric vehicle (BEV) models such as the BMW iX, Audi e-tron, Mercedes-Benz EQS, BYD Atto 3, Tesla Model 3, Volvo XC40, the electrically powered Maxus eDeliver 3 van and, most recently, the Nio ET7.

As part of its sustainability strategy, Sixt is also driving the expansion of its own charging infrastructure.

By the end of the year, it intends to have equipped the vast majority of its branches in Germany and its European corporate countries with its own charging points.