Sixt SE : Q1 EBT at the lower end of the guidance- Residual Value issues should continue to hit Q2 EBT- 2024 guidance lowered (recovery expected in H2)
>Q1 EBT in the lower end of the guidance -€ 27.5m (Guidance: -€ 15m/ -€ 28m) - The group published last Friday its Q1 2024 results (which are due to be published on 7 May), which came in at the lower end of the guidance. In detail, we note: 1/ Consolidated revenue totalled € 780.2m, up 12.3% y-o-y (Guidance: significant increase; css: € 754m; ODDO BHF: € 780m) driven by strong demand in the three segments: North America (28% of consolidated revenue; +21.6% y-o-y...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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