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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.
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Q3 2025 TU earnings summary30 Oct, 2025

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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Frequently asked questions

ALD S.A. specializes in vehicle leasing and fleet management services. The company offers a broad range of services, including car rental, maintenance and repair, vehicle leasing, tire management, vehicle replacement, courtesy vehicles, fuel management services, and insurance. It also provides VIP vehicle services, accident management, concierge services, vehicle assistance, fleet financing, fleet management, and sales of used cars. ALD has a global presence, operating in countries such as Norway, the UK, Australia, Spain, Portugal, Germany, Brazil, Mexico, and Poland. Founded in 1946, ALD S.A. has grown to become a key player in the rental and leasing services industry, with a strong emphasis on service leasing and vehicle fleet management. The company is headquartered in Rueil-Malmaison, France, and its shares are listed on the Euronext Paris.

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