Sixt SE : Preliminary H1 2020 results slightly below expectations – FY 2020 guidance cancelled – Target price lowered to € 75
>H1 2020 preliminary results slightly below expectations - Sixt SE published yesterday before market close its preliminary H1 2020 results which came in slightly below expectations. H1 2020 operating revenue came in at € 711.3m, -37% y-o-y (vs our estimates of € 704.1m), implying a decrease of 64.4% in Q2 alone to € 222.8m.H1 2020 EBT came in at -€ 122.9m (ODDO BHF: -€ 115.1m), i.e. Q2 2020 EBT at -€ 117.8m (vs € 73.3m in Q2 2019). Since the beginning of th...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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