(AOF) – The biggest drop in the SBF120, the ALD stock fell 1.91% to 6.42 euros following the publication of financial results described as “mixed” by the company. In the third quarter, net profit, group share, of Ayvens (formerly ALD Automotive LeasePlan) fell 28.9% to 226.2 million euros while gross operating profit increased 25.4% to 814 .9 million euros. The latter, however, fell by 6.7% on a like-for-like basis and excluding exceptional items.
The margin on leasing and service contracts jumped by 61.6% to 741 million euros. It is stable over one year on a comparable basis.
“In a context of difficult macroeconomic conditions and normalization of used car markets, which are nevertheless still favorable, Ayvens achieved a solid commercial performance and mixed financial results, compared to a historically high 2022 base, and confirmed the strength of its capital position and its financing capabilities”, commented Managing Director, Tim Albertsen.
The group has confirmed its 2023 objectives of growth of between 2% and 4% of its fleet and 170 million euros in costs linked to the integration of LeasePlan. It also expects a result for sales of used vehicles of between 1200 and 1600 euros per unit. Around 290,000 vehicles are expected to be sold.
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