Sixt SE : Sales to remain favourable in 2019 – Buy recommendation reiterated
>Full-year results a shade lower than forecast - Yesterday, Sixt SE reported FY 2018 results that were a shade lower than forecast. Key points: 1/ consolidated sales up 12.6% to € 2,929.5m (consensus: € 2,921m, ODDO BHF: € 2,874m), including a 12.5% increase in operating revenues (excluding sale of leasing vehicles), marking a pick-up compared with 2017 (+8.7%); 2/ EBT rose 17.2% to € 336.7m (excluding the € 197.8m related to the sale of DriveNow) (consensus: € 345m)....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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