Ayvens reported a strong second-quarter performance, with net income group share reaching €271 million, a 38.5% increase year-on-year, as the fleet management and vehicle leasing specialist continues to benefit from integration synergies, disciplined cost control, and improving leasing and services margins.

Ayvens, majority-owned by Société Générale, was created through the merger of ALD Automotive (a Société Générale subsidiary) and LeasePlan, finalized in May 2023.

CEO Tim Albertsen, who today confirmed his retirement from 1 December 2025, described the results as “another strong set of financial results,” achieved “despite a generally subdued economic environment.” Albertsen praised the company’s ongoing execution of its PowerUP 2026 strategic plan, highlighting completed system migrations in 14 of 21 overlapping countries and strong delivery on cost and revenue synergies.

“The resulting financial performance confirms we are on the right track,” he said, adding that Philippe de Rovira, currently Group Deputy CEO, will take over the reins at year-end.

Fleet and leasing operations

Ayvens’ total fleet stood at 3.211 million vehicles as of end-June, a 4.5% year-on-year decline, largely due to portfolio restructuring in the UK, Germany, and Turkey. Full-service leasing contracts totalled 2.563 million vehicles, down 4.6% year-on-year, while fleet management contracts declined 5.6% to 648,000 units.

Despite these volume pressures, leasing and services margins rose 3.7% to €712 million, driven by solid underlying profitability and improved pricing discipline. Margin performance was supported by a 45.9% jump in used car sales and depreciation adjustments to €143 million, despite lower vehicle disposal volumes.

EV penetration in new passenger car registrations continued to grow, hitting 43% in Q2 (up from 39% in Q2 2024), with battery electric vehicles (BEVs) representing 30% of the mix.

Strengthened margins and capital position

Gross operating income rose 8.9% to €855 million, aided by stronger margins and used car remarketing performance. Cost efficiency also improved, with the cost-to-income ratio falling to 57.6%, down from 61.9% in Q2 2024. Operating expenses were cut by €28 million year-on-year, thanks to integration synergies and streamlined operations.

Ayvens’ Return on Tangible Equity (ROTE) reached 13.7%, up from 10.1% a year earlier, and earnings per share increased by 42.4% to €0.30.

The company maintained a strong capital position, with a CET1 ratio of 13.5%, well above regulatory requirements, and €208 million in unreversed depreciation cost reductions set to support future performance.

Outlook

With stable earning assets at €52.9 billion and continued momentum in cost and revenue optimisation, Ayvens remains confident in the trajectory of its strategic transformation. Albertsen expressed full confidence in his successor and reiterated the company’s readiness to deliver a “strong platform for the future.”