Brief: Sixt To Propose Dividend Of EUR 4.11 Per Ordinary Share

Sixt SE

28/02/2023 13:15

Feb 28 (Reuters) - SIXT SE  SIXG.DE :
    * ANNOUNCEMENT OF THE DIVIDEND PROPOSAL FOR FINANCIAL YEAR
2022,
FORECAST FOR FINANCIAL YEAR 2023 AND TREND FOR THE FIRST QUARTER
OF 2023
    * MANAGEMENT BOARD TO PROPOSE TO UPCOMING AGS A DIVIDEND IN
AMOUNT
OF EUR 4.11 PER ORDINARY SHARE AND EUR 4.13 PER PREFERENCE SHARE
AS WELL AS A SPECIAL DIVIDEND OF EUR 2.00 PER ORDINARY AND
PREFERENCE SHARE
    * PROPOSED DIVIDEND IS THUS SIGNIFICANTLY HIGHER THAN MARKET
EXPECTATION (AVERAGE CURRENT ANALYST ESTIMATE: EUR 3.37 PER
ORDINARY SHARE)
    * MANAGEMENT BOARD OF SIXT SE EXPECTS A LARGE INCREASE IN
CONSOLIDATED REVENUE IN 2023 COMPARED TO 2022 AND CONSOLIDATED
EARNINGS BEFORE TAXES (EBT) IN RANGE OF EUR 430 MLN TO EUR 550
MLN
    * UPPER END OF THIS RANGE IS THUS ON LEVEL OF RECORD YEAR OF
2022
AND ITS LOWER END CLEARLY ABOVE PRE-CORONA LEVEL
    * FORECAST REVENUE RANGE FOR 2023 AS WELL AS FORECAST EBT
RANGE
ARE ABOVE MARKET EXPECTATIONS (AVERAGE ANALYST ESTIMATE FOR
2023: EUR 3.0 BILLION FOR CONSOLIDATED REVENUE AND EUR 427
MILLION FOR EBT)
    * FORECAST ASSUMES THAT OVERALL ECONOMIC AND SECTOR-SPECIFIC
CONDITIONS WILL NOT DETERIORATE SIGNIFICANTLY COMPARED TO
CURRENT SITUATION
    * FOR Q1 OF 2023, THERE ARE CLEAR INDICATIONS THAT REVENUE
WILL
INCREASE BY 10 TO 25% COMPARED TO SAME QUARTER OF PREVIOUS YEAR
(Q1 2022: EUR 580.8 MILLION)
    * IN VIEW OF CURRENTLY EMERGING DEVELOPMENTS, MANAGEMENT
BOARD OF
SIXT SE ESTIMATES THAT CONSOLIDATED EARNINGS BEFORE TAXES (EBT)
FOR Q1 OF 2023 WILL BE BETWEEN EUR 20 MILLION AND EUR 40 MILLION
(Q1 2022: EUR 93.5 MILLION)

Further company coverage:  SIXG.DE 

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