March 25, 2020 / 6:59 AM / 14 days ago

BRIEF-Sixt FY EBT At EUR 337.4 Million

March 25 (Reuters) - SIXT SE:

* GROUP REVENUE FOR 2019 UP BY 12.9% TO EUR 3.31 BILLION, FOREIGN GROWTH UP AS MUCH AS 21.5%

* GROUP REVENUE FOR 2019 UP BY 12.9% TO EUR 3.31 BILLION, FOREIGN GROWTH UP AS MUCH AS 21.5%

* FY CONSOLIDATED EARNINGS BEFORE TAXES (EBT) OF EUR 337.4 MILLION

* SUSPENSION OF DIVIDEND PAYMENT SCHEDULED FOR PAST FISCAL YEAR

* EXPECTATIONS FOR 2020 STILL POSITIVE, ALBEIT VERY MUCH REDUCED CONSOLIDATED EBT

* EXTENSIVE MEASURES INTRODUCED SINCE START OF MARCH TO LIMIT FINANCIAL EFFECTS OF CORONA CRISIS

* FOR FISCAL 2019, SIXT SHOWED A GROUP PROFIT OF EUR 246.8 MILLION

* MEASURES: SUBSTANTIAL CUT TO RENTAL FLEET OVER SHORT TERM TO FREE UP CAPACITIES AND LIQUIDITY, SHIFTING INVESTMENTS AND SIGNIFICANT SAVINGS IN MATERIAL AND PERSONNEL COSTS OF UP TO EUR 100 MILLION

* FOR YEAR 2021, EXPECTS A RETURN TO NORMALITY AND CONSOLIDATED OPERATING REVENUE TO SEE SIGNIFICANT UPTAKE AS WELL AS A SLIGHT INCREASE IN GROUP EBT COMPARED TO 2019

* TO SUBSTANTIALLY REDUCE SIZE OF RENTAL FLEET OVER SHORT TERM AND THEREBY FREE UP CAPACITIES AND LIQUIDITY

* EXPECTS TO SEE A STRONG DECLINE IN CONSOLIDATED OPERATING REVENUE FOR WHOLE OF FISCAL 2020 COMPARED WITH LAST YEAR

* EXPECTS 2020 GROUP EBT TO BE VERY POSITIVE, EVEN IF SUBSTANTIALLY LOWER THAN LAST YEAR Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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