Strong Q2 2025 financial results, PowerUp 2026 progressing according to plan

Financial Performance - Net income group share reached EUR 271 million, a 38.5% increase compared to Q2 2024 [10][20] - Return on Tangible Equity (ROTE) improved to 13.7% from 10.1% in Q2 2024 [21][45] - Earnings per share rose to EUR 0.30, up 42.4% from EUR 0.21 in Q2 2024 [21][44] - Gross operating income was EUR 855 million, an 8.9% increase year-on-year [11][40] - Operating expenses decreased to EUR 447 million from EUR 475 million in Q2 2024 [17][40] Operational Highlights - Leasing and Services margins reached EUR 712 million, up 3.7% from Q2 2024 [13][40] - Used car sales result and depreciation adjustments amounted to EUR 143 million, a 45.9% increase compared to Q2 2024 [15][40] - Synergies from integration reached EUR 86 million, significantly up from EUR 27 million in Q2 2024 [11][40] - Cost to income ratio improved to 57.6%, down 4.3 percentage points from 61.9% in Q2 2024 [18][40] Asset and Capital Management - Earning assets stood at EUR 52.9 billion, a slight decrease of 0.7% compared to June 2024 [6][41] - Common Equity Tier 1 (CET1) ratio was 13.5%, well above the regulatory requirement [26][45] - Total balance sheet decreased from EUR 73.6 billion at the end of March 2025 to EUR 73.1 billion at the end of June 2025 [22][41] Strategic Initiatives - The company is executing its PowerUP 2026 strategic plan, with integration progressing in 14 of the 21 overlapping countries [4] - The focus remains on enhancing capabilities in the growing retail market under the Ayvens brand [3]