Sixt SE : Confident that business will remain brisk in Q3 – Buy rating reiterated – TP raised to € 125
>A very good set of H1 results: PBT up 27.6% (margin: +140bp) - A recap of Sixt’s very solid H1 results: 1/ consolidated operating revenue grew by 11.1% to € 1.184.8bn (+11.9% in Q2), including a 12.5% increase in rental revenue (+13.8% in Q2) achieved thanks to robust growth in international revenue (+19.6%, of which +21.2% in Q2); 2/ PBT jumped by 27.6% to € 130.8m (not including the € 196m profit generated from the sale of Sixt’s stake in DriveNow) on the back of v...Sixt is a parent company that acts as the holding company. Through its subsidiary, Co. is an international provider of mobility services. With its Vehicle Rental and Leasing Business Units Co. provides its customers tailor-made products that provide mobility of a few minutes to several years. In the Vehicle Rental Business Unit Co. has a network of stations with an almost worldwide presence through its own rental offices as well as through cooperation with franchisees and cooperation partners. Through its Leasing Business Unit Co. is a non-bank, vendor-neutral leasing companies. In addition, Co.'s franchisees and cooperation partners provides lease financing and services.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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