Ayvens (AYV) CMD 2026 summary

Strategic achievements, integration, and vision

• Achieved €440 million in annual gross synergies and reduced OPEX by €320 million post-merger, finalizing integration and enabling operational excellence.

• Delivered a 98% total shareholder return since January 2024 and increased stock liquidity by 120%, leading to inclusion in major equity indices.

• Enhanced risk management and governance as a regulated ECB financial holding, with robust frameworks for residual value risk, especially for BEVs.

• Sustainability embedded, targeting CO2 intensity reduction to 75–85g/km by 2029, supporting SBTi-validated decarbonization.

• Commitment to value creation for clients, society, employees, and shareholders.

Strategic plan 2029: pillars, growth, and business development

• Three pillars: selective growth and upsell, operational excellence, and transformation for future mobility.

• Targeting >3% funded fleet growth and ~10% earning assets growth from 2026–2029; retail fleet up 15% to over 900k vehicles, LCV fleet up 10%.

• Focus on profitable segments: retail (SMEs/private consumers) and LCVs, with digitalization and AI to industrialize distribution and client experience.

• Expansion of Ayvens Power (EV charging) to 15 countries and scaling LCV downtime management services.

• Used car leasing (Re-lease) to be scaled, targeting a 100k+ fleet by 2029, with a 13% CAGR.

Financial guidance, trajectory, and shareholder returns

• Upgraded 2029 targets: ROTE at 14–16%, CET1 ratio at ~12.5%, and cost-to-income ratio at 49% (excl. Turkey hyperinflation).

• Dividend payout ratio increased to 50–60%, with excess capital to be returned via special dividends or buybacks.

• Operating expenses to decrease in absolute terms from 2026–2029, with a 2% reduction in service margin costs and €60 million annual net savings targeted.

• Funding strategy to further diversify: retail deposits rising to 35–40% of funding, securitization above 10%, and annual net retail deposit collection of €1–2bn.

• All 2026 bond funding executed in Green bond format; issuer of first Green Auto ABS in Europe.