EANS-News: Sixt Aktiengesellschaft / Sixt Group maintains high level of earnings in H1 2012

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6-month report

Pullach (euro adhoc) - CORPORATE NEWS

Sixt Group maintains high level of earnings in H1 2012

- Business performance in line with internal expectations
- Group EBT after six months on high level at EUR 63.4 million
- Q2 EBT just short of record figure from previous year quarter
- Vehicle Rental on growth track: rental revenues up 8.0 percent after six
months
- Group total revenue increased by 2.8 percent
- Foreign operations continue dynamic growth
- Conditions for second half year expected to be more challenging

Pullach, 21 August 2012 - Sixt AG, Germany's largest car rental
company and one of Europe's leading mobility service providers,
witnessed business perform in line with internal expectations during
the first six months of 2012. Despite a cooling economy, higher
operative expenses and start-up costs for new activities, the results
of operations remained on a high level with consolidated earnings
before taxes (EBT) at EUR 63.4 million. Second quarter EBT was just
short of the record figure recorded for the same quarter the previous
year. Driven above all by the dynamic growth in the foreign
operations, rental revenues in the Vehicle Rental Business Unit rose
by a gratifying 8.0% over the first six months. The Group's total
revenue increased by 2.8%.

Given that economic risks are mounting worldwide and are threatening
to spill-over into Germany, Sixt expects conditions in the second
half to become more difficult, while the Company maintains its
projections to see good results of operations for the year 2012 as a
whole.

Erich Sixt, Chairman of the Managing Board of Sixt AG: "The results
for the first half year demonstrate that Sixt can operate highly
successful even in a worsening market environment. The business
performance so far reconfirms our expectation that we will close 2012
with yet again a satisfying result. We will stay our course of giving
precedence to margins and earnings before volume growth, and invest
pro-active into the expansion of our foreign operations."

Group performance in the first half of 2012 With demand generally
positive so far, rental revenue continued to perform gratifying,
growing 8.0% to EUR 452.7 million (H1 2011: EUR 419.3 million).
Growth driver was above all the business outside Germany, where
rental revenue climbed 20.2% period-on-period.

Leasing revenue came to EUR 188.3 million, which was 4.4% down on the
figure recorded for the first half of 2011 (EUR 197.0 million).

Revenue from the sale of used vehicles, in which fluctuations are
normal, was EUR 86.7 million, down 7.2% from the prior-year
equivalent (H1 2011: EUR 93.4 million).

The Group's total revenue climbed from EUR 755.8 million 2.8% to EUR
777.1 million.

Consolidated earnings before net finance costs and taxes (EBIT)
reached EUR 88.5 million, which was merely 4.2% less than the figure
for the same period last year that came to EUR 92.3 million after
adjustment for non-recurring income of EUR 4.4 million (reported at
EUR 96.7 million for the first six months of 2011).

The consolidated profit before taxes (EBT), the Group's key earnings
indicator, was EUR 63.4 million, a drop of 5.4% on the previous year
figure of EUR 67.0 million after adjustment for non-recurring income
(reported EBT: EUR 71.4 million). As announced, higher operating
expenses as well as the start-up costs for growth initiatives, such
as the establishment of Sixt's rental business in the USA and the
premium carsharing offer DriveNow, had a dampening effect on the
consolidated earnings.

After taxes Sixt reports a half-year profit of EUR 43.8 million (H1
2011: EUR 50.2 million).

Group development in the second quarter of 2012 At EUR 237.0 million,
rental revenue grew 5.9% compared to last year's equivalent quarter
(EUR 223.7 million).

Leasing revenues totalled EUR 95.0 million as against EUR 100.5
million in Q2 2011 (-5.5%).

The Group's total revenue went up slightly 1.3% to EUR 396.3 million
(Q2 2011: EUR 391.4 million).

For the second quarter of 2012 the Group reports EBT of EUR 37.4
million (Q2 2011 EUR 39.2 million; -4.9%).

Measured expansion of fleet From January to June 2012, Sixt added
85,800 vehicles with a total value of EUR 2.04 billion to the rental
and leasing fleets in Germany and abroad. In the same period of 2011
the Company had added 77,600 vehicles at a value of EUR 1.85 billion.
This equals an increase of 10% in the number of vehicles and to the
value of vehicles.

Outlook for full-year 2012 In view of mounting economic risks, that
are threatening to spill-over into Germany, Sixt is readying itself
for more difficult conditions both in the rental and leasing business
for the second half of 2012. Looking ahead to the full financial
year, the Managing Board expects the Group's total revenue to grow,
based on an increase in rental revenues and a slight decline in
leasing revenues. Results of operations for 2012 are still expected
to be good and on a high level. However, the consolidated EBT will
not reach the record figure of the previous year.

Developments in the operating business units

Vehicle Rental: Sixt's subsidiaries cover more than 70% of the
European rental market. The Company is furthermore active in the USA
with company-own rental stations. The Sixt brand is represented by a
close-knit network of franchisees in further European countries and
in other global regions.

The Vehicle Rental Business Unit generated rental revenue of EUR
452.7 million in the first half of 2012 (+8.0%). In Germany, where
Sixt is clear market leader well ahead of its competitors, rental
revenue climbed 2.5% to EUR 297.7 million. Outside of Germany Sixt
continues its dynamic growth, above all in the USA, France and Spain,
and recorded a plus of 20.2% to EUR 155.0 million.

The EBT for the Vehicle Rental Business Unit's amounted to EUR 53.9
million for the first half of 2012, a drop of 7.6% compared to the
previous year's period (EUR 58.3 million). In view of the higher
operating expenses as well as the start-up costs for the
establishment of Sixt's activities in the USA and the premium
carsharing offer DriveNow, the Managing Board considers this result
to be satisfactory.

Leasing: In Germany Sixt is one of the largest vendor-neutral,
non-bank full-service leasing companies, offering corporate and
private customers pure finance leasing plus a wide range of ancillary
services for managing fleets and individual vehicles.

The Leasing Business Unit's total number of leases in and outside
Germany (excluding franchisees) was 60,200 at 30 June 2012, almost 7%
above the figure recorded at the end of 2011 (56,300) and a good 4%
above the figure at the end of the first quarter of 2012.

At EUR 188.3 million, leasing revenue for the first six months was
4.4% down on the corresponding prior year figure of EUR 197.0
million. Among other things, this was due to the focus being on fleet
management product. Total revenue at the Leasing Business Unit
(including revenue from the sale of used vehicles) came to EUR 275.0
million for January through June, down 5.3% (H1 2011: EUR 290.4
million).

The Business Unit reported EBT of EUR 9.6 million for the first half
of 2012. This equals a decline of 22.0% from the adjusted figure of
the previous year period (EUR 12.3 million, reported at EUR 16.7
million).

Further information:
Frank Elsner
Sixt Central Press Office
T +49 - 89 - 992 496 - 30/ - 31
F +49 - 89 - 992 496 - 32
E-Mail: pressrelations@sixt.com

Note to editors: Sixt Aktiengesellschaft's Report on the First Six
Months of 2012 can now be downloaded at http://ag.sixt.de/.

Further inquiry note:
Investor Relations
+49 (0)89-74444-5104
InvestorRelations@sixt.de

end of announcement euro adhoc
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company: Sixt Aktiengesellschaft
Zugspitzstraße 1
D-82049 Pullach
phone: +49 (0) 89 74444 5104
FAX: +49 (0) 89 74444 85104
mail: InvestorRelations@sixt.de
WWW: http://www.sixt.de
sector: Automotive Equipment
ISIN: DE0007231326, DE0007231334
indexes: SDAX, CDAX, Classic All Share, Prime All Share
stockmarkets: free trade: Hannover, Berlin, München, Hamburg, Düsseldorf,
Stuttgart, regulated dealing/prime standard: Frankfurt
language: English