We look for example acquisitions in Spain

Based on its economic model firmly seated on its domestic market, family structure and a healthy financial situation, the number a German car rental and one of the major European operators (1.33 billion euros of sales for the first nine months of 2008, 14.4 over the same period of 2007) wants to accelerate its globalizationfor its share of 20 to 40 of its activity international. In an exclusive interview with the "Echos", Erich Sixt, Chairman of the Executive Board of the group, displays its serenity to the crisis, but does not exclude from bankruptcy and a continuation of the consolidation of the sector.

In the context of reversal of the situation, how took place 2008 for Sixt

Despite an unfavourable environment, our turnover is still growing, but our result before taxes will be lower than its record level in 2007 EUR 137.7 million, the amount expected for 2008 "of the order" of 100 million euros, Editor's note. We publish our annual accounts on March 19, so I am able to speak on our results. However, Sixt is probably the most cost-effective vehicles rental. In 2009, I am still optimistic. I do not believe in a substantial decline of our activity, or a disaster in Germany, which still generates 80 of our activity.

What are the reasons for this optimism matter

The evolution of the market is favourable. Companies reduce their spending on travel, but their employees are forced to move. In fact, they prefer rental cars to the plane and train. And if we started our internationalization late, we're answering. Cooperation with our franchise partners, Sixt brand is now present in more than 90 countries, in Europe and the world.

In addition, the profitability of our company is not undermined by the repayment of a LBO, as this may be the case for other operators. Listed in, Sixt is no less a family controlled group to 57 by our family. With a healthy financial situation, the management of fleet resumed at 90 by the manufacturers at the end of six months is not a risk. Finally, we carefully monitor our costs.

In this context of crisis, what is your strategy

What crisis Stop talking about the crisis. How do you want to stimulate the economy if we did not stop to talk about the crisis. It is important to have confidence, to continue to undertake. Frankly, is it really a crisis I remember my first crisis, the oil shock of 1973. At the time, some thought also that life was going to stop! Our strategy, it does not change. Sixt creates 20 of its activity outside the Germany, it is much too little. Within five years, should be this share to 40. Even if our growth rate in 2008 on the German market, by 9 in nine months, surprised me. We do not do the same.

Are you considering acquisitions

We consider small operations. We look, for example, acquisitions in Spain.

Do you think that the current period is likely to fuel the consolidation of the sector

It is quite possible. I don't exclude bankruptcy in rental cars, because the banks become nerve.

Should we expect a price war

I do not. The European market is dominated by four major operators: Europcar, Avis, Hertz and Sixt. Our three main competitors must be particularly careful. And others are too small to destabilize the market.

What today is your ambition on the French market

The France is synonymous with success for Sixt. Our growth has been of the order of 30 to 40 in the last three years. The turnover is estimated at EUR 100 million for 2008 for a network which now 170 agencies. We want to continue our growth in France, in the short term as in the long term rental.