Sixt Reports Record 2022 Revenue

Sixt in 2022 set an annual record for revenue, the car rental company reported Tuesday. The company reported €3.1 billion (US$3.3 billion) in consolidated revenue for full-year 2022, a 34.3 percent year-over-year increase from €2.3 billion.

"2022 was the second record year in a row for Sixt," co-CEO Alexander Sixt said in a statement. "The results show that our Group has reached a noticeably higher level in terms of its strategic positioning, earnings power and resilience than before the Covid pandemic."

Sixt achieved its strongest growth in North America, with the United States now the largest single market for Sixt worldwide, according to the company. North American revenue increased 55.4 percent to €908.2 million. 

The company expanded into Vancouver, Canada, in 2022, and earlier this month opened facilities at Toronto's Pearson International Airport. It also recently opened a location at Pittsburgh International Airport and plans to open a new branch at Reagan National Airport in Washington, D.C., this spring, according to the company.

The Europe segment, excluding Germany, reported €1.3 billion in revenue representing a 35.1 percent increase year over year. The German segment increased 17.6 percent over 2021 to €869.8 million.

Net profit after taxes for 2022 was €385.7 million, an increase of 23.2 percent year over year. For the first quarter of 2023, Sixt expects revenue to increase to 10 percent to 25 percent compared to a year prior. 

As of Dec. 31, 2022, Sixt's average number of rental vehicles was 138,400, up 10.5 percent year over year.