Car rental firm Sixt?has posted a Q1 loss of €12.6 million, despite reporting its "record" earnings for the quarter of €858.1 million.

The Germany-based company said ¡°strong¡± growth in Europe and the US contributed to a 10 per cent year-on-year increase in revenues for the period, while its fleet remains at a ¡°tight¡± level after growing 3.9 per cent year-on-year to 168,700 vehicles.

Sixt chief financial officer Franz Weinberger said the company is ¡°well on track¡± to achieve its full-year targets, where a 5-10 per cent year-on-year revenue increase is expected.

¡°We efficiently met the high demand for our mobility products in the first quarter¡­ Against the background of ongoing macroeconomic uncertainty, we are planning for the important summer business with a fleet at an even tighter level,¡± Weinberger said in a statement.

Consolidated revenue from the company¡¯s North America operations increased 14.9 per cent year-on-year to €316.4 million, outperforming both Germany (€243.3 million) and the rest of Europe (€296.5 million) during the year¡¯s first quarter.

Corporate EDITDA (which considers the depreciation in rental vehicles) for the period came in at €48.3 million, up considerably from €25.4 million reported in Q1 2024.

The company also confirmed its global expansion plans after opening five new branches in the US during the first quarter. In January, Sixt issued a €500 million five-year bond, the proceeds of which will be used to finance growth and fleet expansion.

As of 31 March, Sixt had 361 stations in Germany, 476 across the rest of Europe and 133 in North America.