Ayvens Q2 2026 Financial results
Strong Q2 2026 operating performance in a tough used car market H1 2026 results in line with PowerUP 2026 targets c. EUR 700m distribution to shareholders
NET INCOME GROUP SHARE OF EUR 248 MILLION, DOWN 8.7% VS. Q2 2025 RETURN ON TANGIBLE EQUITY (ROTE) AT 13.4% VS. 13.7% IN Q2 2025 SHARE BUYBACK OF EUR 450 MILLION, EXCEPTIONAL CASH DIVIDEND OF EUR 0.32 PER SHARE TO BE PAID ON 10 SEPTEMBER 2026
Q2 2026 RESULTS (2)
Leasing and Services margins2 at EUR 762 million, up 7.0% vs. Q2 2025 Underlying margins at EUR 800 million, up 9.5% vs. Q2 2025, representing 609 bps of average earning assets vs. 550 bps in Q2 2025
Net Used Car Sales result3 at EUR -8 million vs. EUR 143 million in Q2 2025 Gross UCS result per unit4 at EUR 326, in line with 2026 guidance
Synergies5 at EUR 112 million, up from EUR 86 million in Q2 2025, on track to achieve PowerUP 2026 target of EUR 440 million for full year 2026
Cost to income ratio6 at 50.3%, down 7.3 percentage points vs. 57.6% in Q2 2025
Earning assets7 at EUR 52.6 billion, -0.5% vs. end June 2025
CET1 ratio at 12.6% as at end June 2026
Ayvens has continued to deliver on its strategic and financial roadmap, with strong margins and further cost reductions, mitigating the anticipated normalization of used car sales result in a moving environment.
I am pleased to announce a EUR 700 million exceptional distribution, reaffirming the Group’s commitment to creating value for our shareholders.
Cost income stood at 50.3%, down 7.3 pp vs. Q2 2025, and 52.1% in H1 2026 down 5.7 pp vs. H1 2025. Q2 2026 ROTE stood at 13.4%, broadly stable year-on-year. H1 2026 ROTE stood at 14.1%, up 1.7 pp vs. H1 2025, amid a tough used car market, thanks to our focus on robust margins and cost efficiency.
Ayvens is well positioned to reach its PowerUP 2026 targets. I look forward to presenting the next phase of our strategic and financial trajectory at our Capital Markets Day in London on 21 September.
1The Group results as at 30 June 2026 were examined by the Board of Directors, chaired by Pierre Palmieri on 29 July 2026 2Excluding non-recurring items 3Used car sales result and depreciation adjustments 4Management information 5Management information. Pre-tax gross synergies of which EUR 63 million in revenues from procurement, insurance and remarketing and EUR 50 million in operating expenses (Q2 2025: EUR 58 million in revenues and EUR 27 million in operating expenses) 6Excluding Net UCS result and non-recurring items 7Net carrying amount of the rental fleet plus net receivables from finance leases
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