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The travel warning and its restrictions hit Sixt hard. In the second quarter, the group had to cope with a drop in sales of 63%. The operating result (EBIT) fell to € -104 million in the first half of the year. The cash flow was positive at € 668.9 million. To cope with the economic situation, the company reacted quickly and reduced the rental fleet by 18%. This reduced the effort for the vehicle fleet by 22%. Sixt took out a loan of € 1.5 billion and adapted the business strategy.
Sixt is sticking to internationalization and digitization. Ten strategically important airport locations were taken over in the USA. The ONE platform has been expanded to include the SIXT + subscription offer. SIXT + is a monthly car subscription. Everything is included, such as fully comprehensive insurance and approval. The model was so successful that a short time later there was also a product launch in the USA. Sixt started a car sharing service in the Netherlands.
Should Investors Sell Right Now? Or is it worth joining Sixt?
Covid-19 increased the demand for rental vehicles and car sharing options as an alternative to public transport. The Netherlands is the first foreign market in the car sharing sector. The project includes the metropolises of Amsterdam, Rotterdam and The Hague. Sixt stands out from the competition because you can commute between cities. The fleet consists exclusively of electric vehicles. The settlement of SIXT rent and SIXT ride via an AirPlus Company Account has also been introduced. This makes payment even easier for business travelers.
Should Sixt investors sell immediately? Or is it worth getting started?
How will Sixt develop further now? Is your money safe in this stock? You will find the answers to these questions and why you have to act now in the current analysis of the Sixt share.
Sixt: Buy or Sell? Read more here …
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