Sixt falls after trimming its FY EBT guidance

Sixt SE

12/11/2024 08:37

** Shares of German Sixt  SIXG.DE  fall 7.9% after narrowing
full year EBT guidance with third quarter results
    ** EBT guidance narrowed to around EUR 340 million ($361.49
million) from EUR 340 mln to EUR 390 mln seen earlier
    ** The co said that sharp decline in vehicle residual values
and the resulting increase in depreciation at SIXT, continued to
have a significant impact in Q3 and still expects a substantial
negative impact in the fourth quarter
    ** "Despite the anticipation of continued good demand over 
the holidays, expect residual values continue pressuring 
profitability in Q4," Jefferies says
    ** The broker points the new EBT guidance is 3% below
consensus estimates (consensus at EBT €352.8m)
    ** Up to the previous session's close, shares were down
25.2%​ YTD


    

($1 = 0.9406 euros)

 (Reporting by Marleen Kaesebier)
 ((Marleen.kaesebier@thomsonreuters.com))