QUARTERLY FINANCIAL INFORMATION ALD reports third quarter and nine months 2022 results

9M 2022 results highlights

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  Leasing Contract and Services Margins at EUR 1,259.4 million, up 23.6% vs 9M 2021 and up 3.3% over the same period when adjusted for fleet revaluation and depreciation adjustments (EUR +189.6 million), the impact of hyperinflation accounting rules in Turkey (EUR +60.1 million) and a provision in Ukraine (EUR -25 million)
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  Used Car Sales result at EUR 623.7 million, vs EUR 277.7 million in 9M 2021
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  Operating expenses at EUR 624.3 million, incorporating EUR 83.9 million of LeasePlan acquisition-related costs
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  Cost of Risk at EUR 32.4 million

On 4 November 2022, Tim Albertsen, ALD CEO, commenting on the 9M 2022 Group Results, stated:

“Against the backdrop of a deteriorating geopolitical and macroeconomic environment, with continued disruptions of supply chains, ALD again recorded a strong performance in the third quarter. Our record financial results reflect the solidity of our business model and our capacity to adjust promptly to unprecedented situations. 2022 looks like it will be another excellent year for ALD, confirming our track record of profitable growth through the cycle. Thanks to our employees’ professionalism and commitment over the past two decades, we are leading the transformation of the mobility industry, taking advantage of its strong megatrends. Our strategy consistently generates outstanding results, bolstered by our sector-leading operating efficiency and prudent risk management practices. As a result, ALD is in an excellent position to embark on the step-up change represented by the highly strategic and synergetic acquisition of LeasePlan, for which the approval processes are on track for a closing in Q1 2023.”

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