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Ayvens (AYV) investor relations material
Ayvens Q3 2025 TU earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Net income group share reached EUR 273 million in Q3 2025, up 85.9% year-over-year, driven by strong margin growth, cost discipline, and integration synergies.
EUR 700 million will be distributed to shareholders via a EUR 360 million share buyback and an exceptional EUR 0.42 per share dividend, optimizing capital structure.
Strategic roadmap execution and operational scaling in used car leasing supported profitability and sustainable growth.
Integration of LeasePlan progressing well, with 16 of 21 overlapping countries migrated and EUR 251 million in synergies delivered in the first nine months.
CEO transition announced, with Philippe de Rovira to succeed Tim Albertsen on 1 December 2025.
Financial highlights
Leasing and Services margins rose to EUR 776 million, up 20.1% year-over-year; underlying margins at 593 bps vs. 521 bps in Q3 2024.
Gross operating income increased 17.6% to EUR 851 million.
Cost-to-income ratio improved to 52.8% in Q3, down 10.6 percentage points year-over-year; 56.1% for nine months.
Return on Tangible Equity (ROTE) at 14.3%, up from 7.2% in Q3 2024.
Diluted EPS was EUR 0.30, up from EUR 0.15 in Q3 2024.
Outlook and guidance
Full-year 2025 cost-to-income guidance maintained at 57%-59%.
Management expects an increase in operating expenses for the remainder of 2025 due to year-end closing activities.
UCS result and depreciation adjustment per unit for 9M 2025 is slightly above FY 2025 guidance range.
Expect slight fleet growth in 2026 as restructuring efforts conclude and order intake improves.
Guidance for cost to achieve (CTA) remains around EUR 120 million for the year.
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