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Quarterly Financial Information

3 min to readPress releases 2023
Ayvens reports third quarter and nine months 2023 results
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Ayvens[1] reports third quarter and nine months 2023 results[2]

Q3 2023 results highlights

On 3 November 2023, Tim Albertsen, CEO of Ayvens, commenting on the Q3 2023 Group results, stated: "The integration of LeasePlan is progressing according to plan, with a number of key initiatives well underway and our first procurement objectives already reached. In parallel, we have taken two important steps towards becoming “one”. First, we presented our PowerUP 2026 strategic plan, whereby we draw on our industry leadership to shape the future of mobility and achieve excellence around our 4 priorities: clients, operational efficiency, responsibility and profitability. Second, we launched our global mobility brand ‘Ayvens’ which unites the two companies together under a single identity and highlights our new brand promise. Against the backdrop of challenging macroeconomic conditions and normalizing, yet still favourable used car markets, Ayvens achieved a solid commercial performance and mixed financial results, compared to a historically high 2022 base and confirmed its strong capital position and funding capabilities. I am confident that we will further demonstrate the relevance of our business model and create value in the months ahead by delivering on synergies, thanks to the commitment of our teams."

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[1] "Ayvens" refers to ALD and its consolidated entities [2] Before impact of Purchase Price Allocation (PPA), as per IFRS 3 “Business combinations”, expected to be finalized by end 2023 [3] Net carrying amount of the rental fleet plus net receivables on finance leases [4] Including LeasePlan and excluding ALD’s subsidiaries in Russia, Belarus, Portugal, Ireland, Norway except NF Fleet, LeasePlan’s subsidiaries in the USA, Czech Republic, Finland and Luxembourg [5] Electric Vehicles: Battery Electric Vehicles (BEVs), Plug in Hybrids (PHEVs), Fuel Cell (FCEV)
[6] Same scope[4], excluding reduction in depreciation costs on LeasePlan’s fleet and non-operating items [7] Management information, on ALD’s sales. No profit assumed on LeasePlan’s sales pending finalization of PPA [8] Without the impact of reduction in depreciation costs in prior quarters: EUR 2,346 in Q3 2023 vs. EUR 3,607 in Q3 2022 [9] Before deduction of interest on AT1 capital [10] Full service leasing and fleet management [11] On a like-for-like basis [12] Excluding reduction in depreciation costs and non-operating items, before consolidation adjustments [13] Annualized impairment charges on receivables as a % of arithmetic Average Earning Assets

Published at November 3, 2023
November 3, 2023
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