Ayvens reports “solid” quarter as LeasePlan integration progresses

Ayvens is reporting another “solid” quarter in its latest set of financial results and further progress on the integration of LeasePlan.

The leasing giant was created after ALD completed its £4.1bn (€4.8bn) acquisition of LeasePlan by a consortium led by TDR Capital in May 2023. 

It brought together two of the UK’s biggest leasing companies to take top slot in last year’s FN50 with a risk fleet of 313,149 cars and vans.

Still trading as ALD Automotive LeasePlan in the UK, Ayvens says that earning assets increased by 9.5% year-on-year to €53.2 billion (£44.9bn) at the end of quarter two (June 30).

The increase was primarily driven by inflation on car prices and the transition to electric vehicles (EVs), which have a higher value than internal combustion engine (ICE) cars.

Ayvens’ total fleet has remained broadly flat year-on-year at 3.373 million, down 0.4% year-on-year, reflecting what it describes as a “commercial selective approach” to restore margins.

Fleet management contracts, meanwhile, decreased by 4.9% year-on-year, remaining broadly stable over the past quarter, at 686,000 vehicles.

Full-service leasing contracts reached 2.686 million vehicles as at end June 2024, up 0.8% year-on-year on a like-for-like basis, and down 0.5% versus. March 2024.

It also reports that EV penetration reached 39% of new passenger car registrations, up from 36% in the previous quarter.

Ayvens’ battery electric vehicle (BEV) and plug-in hybrid (PHEV) penetration stood at 26% and 13% respectively in Q2.

“Ayvens had another solid quarter marked both by a sound financial performance and further progress on the integration of LeasePlan,” said Tim Albertsen (pictured), group CEO of Ayvens.

“Indeed, our Q2 2024 results confirm the financial upturn initiated at the beginning of the year with solid revenues, focusing on profitable growth and controlled costs, demonstrating our commitment and capacity to deliver on our strategic roadmap.”

He added: “Integration is moving forward and gaining momentum across the company. For our customers, the Ayvens’ brand name that establishes our company as a leading global mobility playeris now live in twenty countries.

“The legal integration of local entities in overlapping countries has been completed in France and the Netherlands, our flagship locations, as well as for our insurance business in Dublin.

“Finally, we are streamlining and optimizing our combined procurement operations, insurance activities, commerce forces and IT architecture and have already begun to reap the benefits of our integration journey.

“Ayvens is progressing at a high pace in its transformational journey and I am grateful to all our teams for their unwavering commitment.”