Ayvens · EURONEXT:AYV

Ayvens — Q3 2024 Earnings Presentation

28 slides from Ayvens's earnings presentation, Oct 31, 2024

  1. Slide 1: Third quarter 2024 results

    Third quarter |) ae 2024 results 4 Alayvens

  2. Slide 2: Disclaimer

    The information contained in this document (the “Information”) has been prepared by Ayvens (the “Company”) solely for informational purposes. The Information is proprietary to the Company. This presentation and its content may not be reproduced or distributed or published, directly or indirectly, in

  3. Slide 3: Contents

    Contents Highlights Q3 2024 financial results Appendix OO) © A

  4. Slide 4: Highlights

  5. Slide 5: Q3 2024 highlights

    ) 1. Leasing and Services margins excluding non-recurring items, annualized and expressed as a percentage of average earning assets 2. Excluding Used Car Sales result and non-recurring items 5 3. Excluding the impacts of reduction in depreciation costs in previous quarters and LeasePlan’s Purchase P

  6. Slide 6: Funded fleet and fleet management in EU+

    as at 30 September 2024 In EU+ as at 30 September 2024 (in EUR bn) (in ‘000) Funded fleet Fleet management 3,388 3,415 3,386 BEV PHEV ICE Others 3,373 3,332 53.2 53.1 52.7 52.1 700 708 686 686 680 50.2 20% 23% 2,688 2,706 2,699 2,686 2,653 41% 38% 13% 12% 26% 27% Sep.23 Dec.23 Mar.24 June.24 Sep.24

  7. Slide 7: Q3 2024 financial results

  8. Slide 8: Gross operating income, UCS result and Leasing & Services margins

    Gross operating income Leasing & Services Margins Used Car Sales Result 832 793 785 766 146.0 66 724 87 706 694 91 +80 647 126.0 77 +23 585 599 106.0 91 In EUR m In EUR m In EUR m 87 86.0 77 66 766 706 694 714 693 66.0 647 687 648 683 599 46.0 26.0 6.0 -13 -21 -50 -47 (14. 0) Q3 2023 Q4 2023 Q1 2024

  9. Slide 9: 9M 2024 margins at 530 bps

    Margins in bps(1) 552 522 539 521 9M 2024 margins at 530 bps 507 766 Proactive reduction of legacy derivatives portfolio +80 706 694 647 › MtM value: EUR +14m (vs. EUR +69m as at 30 June 2024) +23 › Sensitivity(2) : EUR +2m/-2m as at 30 September 2024 599 In EUR m in EUR million Q3 2023 Q4 2023 Q1 2

  10. Slide 10: UCS result per unit sold and used cars sold

    UCS result per unit sold(1) (in EUR) Used cars sold(1) (in ‘000 units) 2,495 158 157 149 152 1,706 1,661 129 1,480 1,420 573 575 511 493 -90 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 UCS result per unit sold Excluding impact of previous reductions in depreciatio

  11. Slide 11: 9M 2024 underlying C/I ratio at 64.3%

    Underlying C/I ratio 60.5% 69.5% 67.7% 61.9% 63.4% 9M 2024 underlying C/I ratio at 64.3% Underlying operating expenses evolution reflecting 517 490 increase in costs of being regulated offset by 475 66 460 445 27 33 20 › Continued strong cost discipline 29 › Lower IT costs Underrun on CTA spend in Q

  12. Slide 12: Cost of risk, profit before tax and net income

    Cost of risk (in EUR m) Profit before tax (in EUR m) 296 Net income group share (in EUR m) 25 12.6% 25.0% 9.4% 10.0% 7.1% 23 36.9% 42.9% 35.5% 22 31.5% 45 25.5% -1.1% 400 246 19 5.0% 40 18 350 228 357 10.0% 196 196 300 -15.0% 35 181 30 33 250 281 280 -40.0% 146 31 147 -35.0% 29 200 230 25 -90.0% 96

  13. Slide 13: CET1 ratio

    CET 1 ratio 12.5% 12.6% 30 June 2024 30 September 2024 › (1) (1) 13 1. Notably linked to a decrease in flexible fleet and balance sheet optimization 2. Based on estimated contracyclical capital buffers, the Maximum Distributable Amount (MDA) is expected to stand at 9.33% in Q4 2024

  14. Slide 14: Appendix

  15. Slide 15: UCS result evolution: past impacts of depreciation cost reductions and PPA

    UCS result evolution 321 detail of past impacts of reduction in depreciation costs and PPA(1) 255 -77 252 234 222 -77 -75 -75 -75 in EUR m -179 -90 -68 -70 -191 87 91 77 66 -13 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 UCS result Impact of previous reductions in depreciation costs PPA Underlying UCS P

  16. Slide 16: Balance sheet as at 30 September 2024

    in EUR million 30 September 2024 30 June 2024 31 December 2023(1) Earning assets 53,127 53,235 52,055 o/w Rental fleet 51,068 51,114 49,791 o/w Finance lease receivables 2,059 2,121 2,264 Cash & Cash deposits with the ECB 5,399 4,794 3,997 Intangibles (incl. goodwill) 2,737 2,728 2,719 Operating lea

  17. Slide 17: 9M 2024 income statement

    Var. Var. % 9M 2024 9M 2023 9M 2024 9M 2024 in EUR million vs. 9M 2023 vs. 9M 2023 Total contracts ('000) 3,332 3,394 -56 -1.6% Full service leasing contracts 2,653 2,692 -35 -1.3% Fleet management contracts 680 703 -20 -2.9% In EUR million Leasing contract margin 751.1 1,094.6 (343.4) -31.4% Servic

  18. Slide 18: Q3 2024 income statement

    Var. Var. % Q3 2024 Q3 2023 Q3 2024 Q3 2024 in EUR million vs. Q3 2023 vs. Q3 2023 Total contracts ('000) 3,332 3,394 -56 -1.6% Full service leasing contracts 2,653 2,692 -35 -1.3% Fleet management contracts 680 703 -20 -2.9% In EUR million Leasing contract margin 217.9 326.2 (108.3) -33.2% Services

  19. Slide 19: Basic and diluted EPS

    Basic EPS 9M 2024 9M 2023 Existing shares 816,960,428 816,960,428 Shares allocated to cover stock options and shares awarded to staff -839,734 -1,114,336 Treasury shares in liquidity contracts -146,065 -146,298 End of period number of shares 815,974,629 815,699,794 Weighted average number of shares

  20. Slide 20: ROE and ROTE calculation

    in EUR million Q3 2024 Q3 2023 9M 2024 9M 2023(1) Group shareholders' equity 10,935.3 10,841.3 10,935.3 10,841.3 AT1 capital (750.0) (750.0) (750.0) (750.0) (2) Dividend provision and interest on AT1 capital (253.5) (399.2) (253.5) (399.2) OCI excluding conversion reserves 16.0 (8.5) 16.0 (8.5) Equi

  21. Slide 21: Regulatory capital and CET1 ratio

    in EUR million 30 September 2024 30 June 2024 Group shareholders’ equity 10,935 10,802 AT1 capital (750) (750) Dividend provision & interest on AT1 capital(1) (253) (171) Goodwill and intangible assets (2,737) (2,728) Deductions and regulatory adjustments 129 89 Common Equity Tier 1 capital 7,324 7,

  22. Slide 22: Net asset value and NTAV per share

    in EUR million 30 September 2024 30 June 2024 31 December 2023(1) Group shareholders' equity 10,935.3 10,802.4 10,789.1 Deeply subordinated and undated subordinated notes (750.0) (750.0) (750.0) Interest of deeply subordinated and undated subordinated notes (19.1) (0.6) (37.2) Book value of treasury

  23. Slide 23: Quarterly income statement history

    (in EUR million)(1) Q3 2022(2) Q4 2022(2) Q1 2023 Q2 2023(3)(4) Q3 2023(3) Q4 2023(3) Q1 2024(3) Q2 2024(3) Q3 2024 Leasing Contract Margin 273.4 428.1 367.1 387.5 341.0 165.3 282.0 251.2 217.9 Services Margin 185.1 197.3 174.1 311.4 425.4 433.4 424.2 442.5 428.6 Leasing Contract and Services Margin

  24. Slide 24: Annual income statement history

    (in EUR million)(1) 2015 2016 2017 2018 2019 2020(2) 2021 2022(3) 2023(4) Leasing Contract Margin 431.6 514.1 574.5 623.8 664.1 604.4 732.8 1,181.2 1,260.8 Services Margin 534.0 528.6 593.0 616.7 632.3 652.0 650.0 715.1 1,344.3 Leasing Contract and Services Margins 965.6 1,042.7 1,167.5 1,240.5 1,29

  25. Slide 25: ESG ratings

    Better than European average + rental & leasing sector Ayvens: Platinum medal Top 1% worldwide Advanced Rank 4/98 in “Business Support Services EU” sector Top 30% Rated “Prime” on sustainability performance Top 20% in the sector 10.9 14.4 Low risk Top 3% (LP) & 1% (ALD) negligible low medium high se

  26. Slide 26: Glossary

    BEV Battery Electric Vehicles Cost to income ratio: Total Operating Expenses divided by Gross Operating Income excluding Used Car Sales result and Underlying C/I Ratio non-recurring items Earning assets Net carrying amount of the rental fleet plus receivables on finance leases EU+ European Union, UK

  27. Slide 27: Financial calendar

    Agenda Q4 and FY 2024 results 6 February 2025 Q1 2025 results 30 April 2025

  28. Slide 28: Societe Generale Group

    SOCIETE GENERALE GROUP

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