EANS-Adhoc: Sixt Aktiengesellschaft / Sixt exceeds its own expectations for full-year 2009 after strong fourth quarter

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Company Information

11.03.2010

Ad hoc disclosure in accordance with section 15 WpHG
(Wertpapierhandelsgesetz - German Securities Trading Act) Sixt AG,
Zugspitzstr. 1, 82049 Pullach WKN: 723132, ISIN: DE0007231326 WKN:
723133, ISIN: DE0007231334 Frankfurt Stock Exchange, Prime Standard
Segment

Annual results/dividend

Sixt exceeds its own expectations for full-year 2009 after strong
fourth quarter

Pullach, 11 March 2010 - The Sixt Group exceeded its own expectations
for full-year 2009 after a strong last quarter. For 2009, the
mobility services provider´s profit before taxes (EBT) according to
preliminary calculations was EUR 15.1 million (2008: EUR 86.7
million). The Group therefore comfortably achieved its target of
generating clearly positive EBT. Consolidated profit after taxes in
full-year 2009 amounted to EUR 10.4 million (2008: EUR 61.4 million).

In 2009, Sixt profited from a clear improvement in its cost structure
over the course of the year, with a smaller rental fleet, strict cost
management and improvements in efficiency having a positive effect
throughout the Group. In the seasonally weaker fourth quarter,
consolidated EBT amounted to EUR 12.5 million, in excess of the
Group´s own expectations (Q4 2008: EUR -9.2 million). Consolidated
earnings before net finance costs and taxes (EBIT) amounted to EUR
67.0 million for the year as a whole (2008: EUR 154.9 million,
-56.7%).

Despite the international financial crisis and the global recession,
demand for Sixt mobility services remained more or less stable at a
high level in 2009. At EUR 758.0 million, rental revenue (excluding
other revenue from the rental business) was down only 3.9% on the
previous year (EUR 788.7 million). Revenue from leasing activities
(excluding revenue from the sale of used leasing vehicles) was EUR
406.5 million, again down only slightly on the previous year´s level
(2008: EUR 419.8 million; -3.2%). Sixt´s conscious decision not to
generate revenue where profits would be inadequate dampened revenue
in both business units.

Overall, the Vehicle Rental Business Unit´s revenue was EUR 961.8
million (2008: EUR 1.11 billion, -13.1%). The Leasing Business Unit´s
total revenue (including revenue from the sale of used leasing
vehicles) amounted to EUR 634.8 million (2008: EUR 661.8 million;
-4.1%). In 2009, total consolidated revenue amounted to EUR 1.60
billion (2008: EUR 1.77 billion; -9.7%).

In line with a shareholder-friendly but earnings-driven dividend
policy, the Managing Board and Supervisory Board will propose to the
Annual General Meeting to pay a dividend for financial year 2009 of
EUR 0.20 (previous year: EUR 0.80) per ordinary share and EUR 0.22
(2008: EUR 0.82) per preference share. This would increase the
dividend payout rate (based on consolidated profit for the year) from
33% to 50%.

The Managing Board is optimistic about financial year 2010, although
it expects demand for vehicle rental and leasing services in
financial year 2010 to remain the same or fall slightly year-on-year
in Sixt´s core European countries as a result of the continuing
uncertain economic environment. However, on the earnings side, the
Group will profit for the first time for a full financial year from
the measures to cut costs and increase efficiency initiated in 2009.
In view of this, consolidated revenue is expected to fall in 2010.
However, Sixt aims to substantially increase consolidated EBT as
against the previous year due to its reduced costs and higher
efficiency. This forecast assumes that there are no unforeseen
negative events with a major impact on the Group.

Contact:
Sixt Aktiengesellschaft
Frank Elsner
Sixt Central Press Office

Phone: +49 - 89 - 992 496 - 30/ - 31
Fax: +49 - 89 - 992 496 32
E-mail: pressrelations@sixt.com

end of announcement euro adhoc
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ots Originaltext: Sixt Aktiengesellschaft
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Kirsten Struve

Tel.: +49(0)89 74444-4260

E-Mail: kirsten.struve@sixt.de

Branche: Automotive Equipment
ISIN: DE0007231326
WKN: 723132
Index: SDAX, CDAX, Classic All Share, Prime All Share
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Hamburg / free trade
Stuttgart / free trade
Düsseldorf / free trade
Hannover / free trade
München / regulated dealing