Sixt (SIX2) Q1 2025 earnings summary

Executive summary

• Revenue rose 10% year-over-year to EUR 858.1 million in Q1 2025, with strong growth in Europe and North America.

• Net loss after taxes improved to EUR -12.6 million from EUR -23.1 million in Q1 2024, a 45.7% reduction.

• Corporate EBITDA nearly doubled to EUR 48.3 million, with all segments contributing.

• Fleet size increased by 3.9% to 168,700 vehicles, while rental stations remained stable.

• A new EUR 500 million bond was issued in January 2025 to finance further growth.

Financial highlights

• Q1 2025 revenue reached EUR 858 million, up 10% year-over-year; Germany stable, Europe +14%, North America +15%.

• EBITDA stable at EUR 217.8 million, nearly unchanged from Q1 2024.

• EBT increased by 36% compared to the prior year, driven by cost improvements and operational efficiency.

• Net loss after taxes improved to EUR -12.6 million from EUR -23.1 million in Q1 2024.

• Corporate EBITDA: EUR 48.3 million (+89.9% year-over-year).

Outlook and guidance

• 2025 revenue expected to grow 5–10% over 2024's EUR 4.0 billion.

• EBT margin guidance set at 8–10%, with significant improvement in profitability anticipated.

• Continued expansion planned across all regional segments, with profitable growth as the top priority.

• Opportunities include economic recovery in Europe, strong summer travel, and further interest rate cuts.

• Risks include political and economic uncertainties in the U.S., weaker summer travel, and inflation.