Latest news with #TimAlbertsen
Yahoo
31-07-2025
- Automotive
- Yahoo
Ayvens delivers Q2 2025 results as fleet and leasing drive growth
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.' "Ayvens delivers Q2 2025 results as fleet and leasing drive growth" was originally created and published by Motor Finance Online, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
21-07-2025
- Automotive
- Yahoo
Ayvens appoints Philippe de Rovira as new CEO
French fleet managing and operational car leasing company Ayvens has appointed Philippe de Rovira as its new CEO, effective 1 December. He succeeds Tim Albertsen, who has decided to retire on the same date. The decision follows a recommendation from the nomination committee as part of its succession planning process. Albertsen will continue to serve as CEO and a member of the board until his retirement. Ayvens' chairman of the Board of Directors Pierre Palmieri stated: 'Philippe brings with him the experience, commitment and strategic vision which will be key in driving growth and capturing new opportunities for Ayvens. 'I would also like to thank Tim for his leadership and vision, which have led to Ayvens being the global leader it is today.' Rovira brings extensive experience to his new role, having joined PSA Group in 1998 and held various business and finance positions until 2017. His previous roles included leading a division focused on B2B sales, remarketing of used cars, and sales of spare parts. In 2018, he was appointed CFO of PSA Group and became a member of the Global Executive Committee, overseeing the business unit for remarketing of used cars. By 2021, he had advanced to the position of Stellantis' chief affiliates officer, in which he was responsible for financial services, parts and services, and circular economy, among other areas. In 2025, Rovira took on the role of COO for Asia and Middle East/Africa, while also managing Financial Services and Free2move. Ayvens provides full-service leasing, flexible subscription services, fleet management, and multi-mobility solutions to a diverse clientele, including large international corporations, SMEs, professionals, and private individuals. The company employs more than 14,000 people across 42 countries and manages 3.3 million vehicles. Ayvens is majority-owned by Societe Generale Group. "Ayvens appoints Philippe de Rovira as new CEO" was originally created and published by Motor Finance Online, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Fehler beim Abrufen der Daten Melden Sie sich an, um Ihr Portfolio aufzurufen. Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten
Yahoo
10-06-2025
- Business
- Yahoo
Leaseurope's Q4 2024 index reveals mixed trends in European leasing
Leaseurope has published the findings of its Q4 2024 Leaseurope Index, the 50/50 instalment of its quarterly survey. The survey, which monitors key performance indicators (KPIs) from a sample of 19 European leasing companies, indicates mixed signals in the region's leasing industry, with variations in key ratios and business volumes. In the fourth quarter (Q4) of 2024, the overall weighted average ratios showed a positive trend compared with Q4 2023, except for an increase in the cost/income ratio. The median ratios exhibited a broadly similar trend, accompanied by a decline in return on equity, according to the association of leasing companies. However, for the full year figures, all the weighted average ratios showed a weakening trend in 2024. The total volume of new leasing agreements reported by the surveyed companies increased by 7.3% in Q4 2024 compared with the same quarter the previous year. Last year, new business volume grew by 8%, exceeding €123bn. In addition, the portfolio of active contracts rose by 4.3% in 2024 while risk-weighted assets experienced a growth of 9.5%. Ayvens Group CEO Tim Albertsen said: 'The economic outlook points to modest growth, but uncertainty remains a significant challenge for businesses. Equipment investment has slowed, largely due to high financing costs and a more cautious investment climate. Despite these headwinds, European lessors have continued to grow their new business volumes and portfolios. 'This demonstrates the importance of staying agile by offering tailored financing solutions, exploring opportunities in the used equipment market, and focusing on resilient sectors such as healthcare and renewables. Success in this environment means adapting quickly and staying closely aligned with our customers' evolving needs.' In Q4 2024, total operating income dropped by 1% compared with the same quarter in 2023. Operating expenses saw a minimal increase of 0.1%, remaining nearly flat. The weighted average cost-to-income ratio worsened, rising from 52.5% in Q4 2023 to 54.4% in Q4 2024. This trend persisted across 2024, with operating expenses growing by 7.7% and income decreasing by 0.8%. As a result, the average cost-to-income ratio deteriorated from 47.8% in 2023 to 49.9% in 2024. The average annualised cost of risk increased from 0.18% in 2023 to 0.20% in 2024. Similarly, the median cost of risk ratio rose from 0.20% in 2023 to 0.32% in 2024. In Q4 2024, return on assets (RoA) and return on equity (RoE) remained largely unchanged compared to Q4 2023. However, both metrics saw a decline in 2024 relative to 2023. "Leaseurope's Q4 2024 index reveals mixed trends in European leasing " was originally created and published by Leasing Life, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
