Sixt Stock: Concrete Forecast After Record Quarter

Last Updated: 8. November 2023By

The Sixt stock has climbed around 3 percent in the morning trading session today, following the presentation of the Q3 figures, continuing the positive trend of the past week (as of 8 November, around 11 a.m.). The main reason: the third quarter was the best in the history of the car rental company in terms of sales and the company has clarified its forecast for the current year.

Apart from the record sales, the latest figures from Sixt were generally impressive. The Sixt stock, after a very weak phase in the last 6 months with a loss of nearly 30 percent in price, now has further potential for catching up. This applies to the coming weeks, but also in the long term, there are opportunities, particularly through the entry into the gigantic US market.

Sixt scores with record quarter and new forecast for 2023 With a turnover of 1.13 billion euros, Sixt earned as much in the months from July to the end of September as in any quarter before – compared to the same period of the previous year, it was about 13 percent more. For the first time in the company’s history, the family-run company cracked the billion mark.

At the same time, the EBT in Q3 was almost 13 percent below the previous year’s level at just under 247 million euros. According to Sixt, this weaker result compared to 2022 was partly due to increased costs and partly to a very strong previous year characterized by vehicle shortage. However, the company emphasized that the current EBT is significantly above that of the pre-Corona year 2019.

As part of the quarterly figures, Sixt also clarified the forecast for the current year: the EBT is expected to be between 460 and 500 million euros in 2023. Previously, the EBT forecast had been in a range of 430 to 550 million euros. With the record quarter in the back, Sixt has also ventured a turnover forecast for the full year and expects 3.6 billion euros in turnover – in 2022 it was still at 3.07 billion euros.

Sixt stock: opportunities after weak course The quarterly figures were well received on the stock exchange, in particular the record turnover and the new turnover forecast for 2023. Of course, the car rental company is by no means free from problems either – the company is facing a rising cost base for electromobility and an economically and politically challenging environment. Nevertheless, short-term and long-term opportunities are available for the Sixt stock.

In the coming months, it will be important for the paper to turn the price losses of the last months around and reach the level from the spring again. With a solid Q4, the chances of this are – depending on the overall market – not bad. In the long term, Sixt has an enormous growth potential, especially through its entry into the US market. Investors should definitely keep an eye on the Sixt stock.