Sixt (SIX2) Q1 2026 earnings summary

Executive summary

• Achieved record Q1 revenue of €929M, marking significant topline growth year-over-year, with consolidated revenue up 8.2% to €928.9 million and currency-adjusted growth at 12.6%.

• EBT increased by €20M to €2.1M, reaching the seasonal breakeven target, up from a loss of €17.6M in the prior year period.

• Net income after taxes improved to €1.5 million from a loss of €12.6 million in Q1 2025.

• Global rollout of the SIXT ONE rewards program completed across all 13 corporate countries, with membership steadily growing and full rollout in Canada planned for Q2 2026.

• The branch network expanded to 2,299 locations, with the 500th branch modernized and further upgrades planned.

Financial highlights

• Revenue grew 8.2% year-over-year to €929M in Q1 2026, with Germany up 11.5%, Europe (ex-Germany) up 16.2%, and North America down 1.9% due to currency effects.

• EBT improved from a loss to €2.1M, driven by revenue growth and improved residual values.

• Fleet expenses rose by 19.3% to €266.3 million due to inflation and earlier infleets.

• Personnel costs increased by 7.2%, but efficiency gains kept growth below revenue increase; other operating expenses rose 7.2% to €328.1 million.

• Total assets reached €7.33 billion, up from €7.14 billion at year-end 2025.

Outlook and guidance

• 2026 revenue guidance confirmed at €4.45–4.60B, with an EBT margin target of ~10%, up from 9.4% in 2025.

• Continued expansion and profitable growth are prioritized across all regions.

• Risks include political/economic uncertainties, oil and jet fuel prices, inflation, residual value headwinds, weak US consumer sentiment, and FX headwinds.

• Opportunities identified in strong summer travel, economic recovery in Europe, and rising US residual values.