November 23, 2016 / 7:46 AM / 16 days ago

BRIEF-Sixt SE Says Consolidated Earnings Before Taxes For FY 2019 Are Expected About Eur 337 Mln

March 16 (Reuters) - Sixt SE:

* DGAP-ADHOC: SIXT SE: SIXT SE PUBLISHES OUTLOOK FOR FINANCIAL YEAR 2020 - MANAGING BOARD RESOLVES PROPOSAL TO SUSPEND DIVIDEND PAYMENT AND TO IMPLEMENT FURTHER MEASURES TO LIMIT THE FINANCIAL IMPACT OF THE CORONA CRISIS

* CONSOLIDATED OPERATING REVENUE OF SIXT SE DURING PAST FINANCIAL YEAR 2019 IS EXPECTED TO AMOUNT TO APPROXIMATELY EUR 2.95 BILLION

* CONSOLIDATED EARNINGS BEFORE TAXES FOR FINANCIAL YEAR 2019 ARE EXPECTED TO AMOUNT TO APPROXIMATELY EUR 337 MILLION

* SPREAD OF COVID-19 IS HAVING A SIGNIFICANT IMPACT ON TOURISM AND MOBILITY SECTOR WORLDWIDE AND THUS ALSO ON DEMAND FOR CO’S MOBILITY SERVICES

* RECORDED SIGNIFICANT DECLINE IN NUMBER OF RENTALS SINCE BEGINNING OF MARCH AND A SHARP DROP IN RESERVATIONS FOR COMING WEEKS DUE TO COVID-19

* VEHICLE FLEET IS TO BE REDUCED SIGNIFICANTLY IN SHORT TERM

* PLANNED INVESTMENTS ARE TO BE POSTPONED AND PERSONNEL AND MATERIAL COSTS ARE TO BE SAVED TO A CONSIDERABLE EXTENT

* EXPECTS CLEARLY POSITIVE CONSOLIDATED EBT FOR FULL YEAR 2020 WHICH WILL REMAIN VERY STRONGLY BELOW PREVIOUS YEAR’S LEVEL

* EXPECTS SHARP DECLINE IN FY 2020 CONSOLIDATED OPERATING REVENUE VERSUS PREVIOUS YEAR, NOT TAKING INTO ACCOUNT DISCONTINUED LEASING BUSINESS UNIT. Source text for Eikon: Further company coverage:

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