Core Insights - Ayvens reported a net income group share of EUR 996 million for 2025, reflecting a 45.7% increase compared to EUR 684 million in 2024, driven by higher margins and lower operating expenses [1][11][29] - The company achieved a cost to income ratio of 56.1% for 2025, improving by 7.1 points from 63.2% in 2024, indicating enhanced operational efficiency [1][25] - Return on Tangible Equity (ROTE) increased to 12.9% for 2025, up from 8.6% in 2024, showcasing improved profitability [1][29] Financial Performance - Full-year 2025 leasing and services margins reached EUR 2,944 million, a 9.1% increase from 2024 [1][15] - Gross operating income for 2025 was EUR 3,355 million, up 11.3% compared to 2024, supported by higher margins and net used car sales [12][29] - The net used car sales (UCS) result for 2025 was EUR 411 million, a 29.6% increase from 2024, with a net UCS result per unit at EUR 1,075, at the high end of guidance [1][21] Operational Efficiency - The cost to income ratio for Q4 2025 was 56.2%, down 4 points from 60.2% in Q4 2024, indicating continued improvement in cost management [1][25] - Operating expenses for 2025 decreased by 3.9% to EUR 1,826 million compared to 2024, reflecting effective cost control measures [22][24] - The company achieved gross revenue synergies of EUR 231 million for 2025, benefiting from the integration of LeasePlan [13] Fleet and Asset Management - Ayvens' total fleet decreased by 3.2% year-on-year to 3.175 million units, reflecting ongoing portfolio restructuring [7][34] - Earning assets stood at EUR 53.0 billion, a slight decrease of 1.0% compared to 2024, with a focus on profitability and asset risk management [1][5] - Electric vehicle (EV) penetration reached 43% of new passenger car registrations in 2025, up from 39% in 2024, indicating a shift towards sustainable mobility [8] Shareholder Returns - The proposed dividend for 2025 is EUR 0.59 per share, up from EUR 0.37 in 2024, aligning with a 50% payout ratio target [30][31] - Total distribution for 2025, including an exceptional dividend and share buyback, amounted to EUR 1,150 million, reaffirming the company's commitment to shareholder value [31] Regulatory Capital - Ayvens' Common Equity Tier 1 (CET1) ratio was 13.2% as of December 2025, above the regulatory requirement, reflecting strong capital management [1][38] - Risk-weighted assets (RWA) decreased to EUR 53.7 billion, contributing to the improved CET1 ratio [37][38]

Core Insights - Ayvens reported a net income group share of EUR 273 million for Q3 2025, reflecting an 85.9% increase compared to Q3 2024, driven by improved margins and lower operating expenses [1][13][23] - The company announced a share buyback program of EUR 360 million and an exceptional cash dividend of EUR 0.42 per share, to be paid on December 18, 2025, as part of its commitment to shareholder value [1][5][7] - The Group's Return on Tangible Equity (ROTE) improved to 14.3% from 7.2% in Q3 2024, indicating enhanced profitability [1][23][47] Financial Performance - Gross operating income for Q3 2025 reached EUR 851 million, up 17.6% from Q3 2024, supported by increased margins [1][14][44] - Leasing and Services margins totaled EUR 776 million, a 20.1% increase year-on-year, with underlying margins at 593 basis points compared to 521 basis points in Q3 2024 [1][15][21] - Operating expenses decreased to EUR 429 million from EUR 460 million in Q3 2024, reflecting a 6.7% reduction [1][19][44] Strategic Developments - The execution of the PowerUP 26 strategic roadmap is progressing well, with profitability and cost efficiency improving as synergies increase [2] - The restructuring of the company's footprint in targeted segments is advancing, with used car lease capabilities ramping up [2] - The company is well-positioned for sustainable and profitable growth, supported by a strong executive management team [3] Shareholder Returns - The Board of Directors authorized a total distribution of EUR 700 million to shareholders, including the share buyback and exceptional interim dividend [4][7] - The share buyback program is set to commence on October 31, 2025, and will last until October 30, 2026 [5][51] Market Position - Ayvens maintains a strong financial structure with total shareholders' equity of EUR 10.7 billion as of September 30, 2025, and a Common Equity Tier 1 (CET1) ratio of 12.8% [24][28] - The company has a total balance sheet of EUR 73.1 billion, with financial debt standing at EUR 37.8 billion [25][45]

Financial Performance - Gross operating income reached EUR 819 million, an increase of 3.3% compared to EUR 793 million in Q1 2024 [1][11] - Net income group share stood at EUR 220 million, up 21.3% from EUR 181 million in Q1 2024 [3][21] - Earnings per share increased to EUR 0.24 from EUR 0.20 in Q1 2024 [3][21] Margins and Costs - Leasing and Services margins reached EUR 708 million, up 2.9% from EUR 689 million in Q1 2024 [1][12] - Cost to income ratio improved to 58.0%, down 9.7 percentage points from 67.7% in Q1 2024 [3][18] - Operating expenses decreased to EUR 473 million from EUR 490 million in Q1 2024 [3][17] Asset and Fleet Management - Earning assets increased by 1.4% year-on-year to EUR 53.5 billion as of 31 March 2025 [3][7] - Total fleet amounted to 3.246 million vehicles, down 3.8% year-on-year [3][8] - Full-service leasing contracts reached 2,584 thousand vehicles, a decrease of 3.9% year-on-year [3][9] Integration and Strategic Initiatives - Integration is progressing as planned, with eleven out of twenty-one overlapping countries migrated to a single IT platform [5] - The company is building a sustainable growth path through targeted commercial initiatives [6] - Synergies increased to EUR 61 million in Q1 2025, up from EUR 20 million in Q1 2024 [2][5] Regulatory Capital and Financial Structure - CET1 ratio stood at 13.2% as of 31 March 2025, reflecting the impact of CRR3 implementation [3][27] - Total balance sheet decreased from EUR 75.1 billion at the end of December 2024 to EUR 73.6 billion at the end of March 2025 [3][22] - Group shareholders' equity totaled EUR 10.6 billion as of 31 March 2025, compared to EUR 10.4 billion at the end of December 2024 [3][22]