Sixt: franchise expansion and record profits
The car rental business, Sixt, achieved both record profits and sales in 2006. According to an article in the Handelsblatt newspaper, the company’s preliminary figures for its pre-tax results for the year have been put at 121.6 million euros, a 34-percent increase compared to the year before.
Sixt’s results, therefore, lay well above their original forecast. Board chairman, Erich Sixt, has also announced that he is expecting further growth this year. Last year, the company succeeded in launching its concept in South America, Australia and India via franchising. Its expansion plans for Spain also progressed well. The company is aiming to have positioned itself as market leader in Europe within the next five years and so overtake its competitor, Europcar.