The long-term rental company ALD recorded a record net profit of 1.2 billion euros in 2022 (+38% over one year), catapulted by the margins on its contracts and the resale price of its vehicles on the market. occasion.
The automobile finance leasing subsidiary of Société Générale recorded a margin of nearly 1.2 billion euros on its rental contracts (+61.2%).
The sale of cars brought in 747 million euros, on a second-hand market extremely stretched by low deliveries of new cars.
This scarcity prompted many customers to extend their rental contracts, or even rent used cars: ALD therefore sold fewer cars, 263,000 units, but the average margin per car reached 2,846 euros, in line with the rental company’s forecasts. .
Despite a degraded geopolitical and macroeconomic environment, with disruptions in supply chains, ALD recorded a record year, said Tim Albertsen, CEO of ALD, in a press release.
The company indicates that these profits erase the acquisition costs of its Dutch competitor LeasePlan over the year.
The operation, which must be completed in the first quarter after its validation by a general meeting of shareholders, should cause approximately 300 million euros in costs between 2022 and 2023. But it should make it possible to save 440 million euros in synergies of by 2025, according to ALD.
The management of the group will propose to the General Assembly the distribution of a dividend of 1.06 euro to its shareholders (+7.1% over one year).
For 2023, ALD expects logistics to gradually return to normal, with a slower-than-expected ramp-up of vehicle deliveries towards the end of the year. The imbalance between supply and demand on the second-hand market, favorable to the lessor, should therefore continue over the year.