Ayvens · EURONEXT:AYV
Ayvens — ALD — FY2022 Earnings Presentation
25 slides from Ayvens's earnings presentation, Feb 8, 2023
Slide 1: Q4 and FY 2022 Results
Q4 and FY 2022 Results 8 February 2023
Slide 2: Disclaimer
Disclaimer The information contained in this document (the “Information”) has been prepared by ALD (“ALD” or 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
Slide 3: Highlights
= Highlights
Slide 4: Delivering a landmark year
Delivering a landmark year Record financial results Strong commercial Key milestones towards dynamics the acquisition of LeasePlan 4 │08/02/2023
Slide 5: Record performance
Record performance Funded fleet Used car sales Net income Proposed per unit sold (Group share) dividend +3.1%(1) EUR 2,846 EUR 1,203m EUR 1.06(2) vs. Dec 2021 vs. EUR 1,422 FY 2021 +37.8% vs. FY 2021 per share 5 │08/02/2023 1. Excluding assets held-for-sale (Russia, Belarus, Portugal, Ireland and No
Slide 6: Products addressing new market segments growing strongly
Products addressing new market segments growing strongly Flex fleet Multi-cycle lease Multi-modality 78k(1) vehicles 52k(1) vehicles New features now ▪ On track to achieve the Move 2025 available in France, target (125k vehicles) Belgium and the Netherlands New partnership ▪ Transforming employees’
Slide 7: ALD committed to lead the transition towards sustainable mobility
ALD committed to lead the transition towards sustainable mobility Driving the shift towards EV Shaping the way to net zero CO2 emissions - Client case study EVs representing 27% of passenger car deliveries 100% 5 000 in 2022 in EU+(1) 80% 4 000 ▪ ALD ahead of the market in EV penetration (23%(2)) Co
Slide 8: Continued positive commercial dynamics
Continued positive commercial dynamics Total contracts ('000) Funded fleet: +3.1%(1) vs. end December 2021, in line with 1 806 1 726 57 guidance (+2% to +4%) 62 +14.6% 336 293 Fleet management: +14.6%(2) vs. end December 2021 ▪ Leveraging on a new banking partnership 1 371 +3.1% 1 413 Total contract
Slide 9: Update on the acquisition of LeasePlan
Update on the acquisition of LeasePlan 2022 main achievements Next steps Main approvals received from competition and regulatory Target closing by end of March 2023 authorities ECB, DNB and ACPR Main regulatory approvals received (ECB, DNB and ACPR) ALD Extraordinary General Meeting Waiver to the ob
Slide 10: Q4 and FY 2022 Financial results
Q4 and FY 2022 Financial results
Slide 11: Strong growth in margins excluding non-operating items
Strong growth in margins excluding non-operating items Total margins excl. UCS result up 36.3% vs. FY 2021 and up 31.7% when adjusted for non-operating items Total margins(1) excl. UCS (in EUR m) 1 884 128 Reduction in depreciation costs(2) boosting Leasing contract 1 383 +31.7% 350 margin: EUR +350
Slide 12: Higher estimated 2023 used car prices
Higher estimated 2023 used car prices 1 2 3 Depreciation curve Leasing contract margin (in EUR m) Reduction in depreciation costs lowering UCS Leasing contract margin (in EUR m) result (in EUR m) Contractual H1 valuation H2 valuation UCS result (in EUR m) 428 311 -38 Net book value 273 220 63 -73 67
Slide 13: Exceptionally high used car sales result
Exceptionally high used car sales result Used car sales result (in EUR m) Used car sales result per unit sold(1) (in EUR) Used cars sold(1) ('000 units) 3 607 748 308 3 014 3 054 263 2 607 438 1 919 FY 2021 FY 2022 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 Q4 22 FY 2021 FY 2022 UCS result / unit Exc
Slide 14: Record net income
Record net income Total operating expenses (in EUR m) Total operating expenses at EUR 884.3m in FY 2022, including 884 ▪ LeasePlan acquisition-related costs: EUR 128m 128 675 ▪ Scope effect (Sabadell, Fleetpool, Ford Fleet Management): EUR 31.5m 756 ▪ Higher variable compensation accrual linked to s
Slide 15: Balance sheet at December 2022
Balance sheet at December 2022 In EUR million FY 2022 FY 2021 Var. Var. % Earning Assets increased by 10.3%(1) vs. December 2021, reflecting higher value vehicles Earning assets 23,943 22,489 1,454 6.5% (esp. Electric Vehicles) o/w Rental fleet 23,227 21,711 1,516 7.0% o/w Financial lease receivable
Slide 16: Strong 2022 performance in line with guidance
Strong 2022 performance in line with guidance Funded fleet Used car sales Dividend payout ratio(2) Actual +3.1% (1) EUR 2,846 50% performance . per unit sold Proposed dividend: 2022 EUR 1.06 November Between Above 2022 guidance +2% and +4% EUR 2,800 50% per unit sold 1. Excluding assets held-for-sal
Slide 17: Appendix
Appendix
Slide 18: FY 2022 financial results
FY 2022 financial results In EUR million FY 2022 FY 2021 Var. Var. % Total contracts ('000) 1,806 1,726 81 4.7% Full service leasing contracts 1,464 1,427 37 2.6% Fleet management contracts 342 299 43 14.4% Leasing contract margin 1,181.1 732.8 448.2 61.2% Services margin 703.2 650.0 53.1 8.2% Leasi
Slide 19: Fourth quarter financial results
Fourth quarter financial results In EUR million Q4 2022 Q4 2021 Var. Var. % Leasing contract & Services margins at EUR 624.8m Total contracts ('000) 1,806 1,726 81 4.7% ▪ Reduction in depreciation costs(3): Full service leasing contracts 1,464 1,427 37 2.6% EUR +220.3m Fleet management contracts 342
Slide 20: Quarterly series
Quarterly series (in EUR million)1 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Leasing Contract Margin 171.6 185.2 174.2 201.8 168.4 311.2 273.4 428.0 Services Margin 156.5 158.3 173.5 161.8 160.6 165.1 180.7 196.8 Leasing Contract and Services Margins 328.1 343.5 347.6 363.6 329
Slide 21: Yearly series
Yearly series (in EUR million)1 2015 2016 2017 2018 2019 2020(2) 2021 2022 Leasing Contract Margin 431.6 514.1 574.5 623.8 664.1 604.4 732.8 1,181.1 Services Margin 534.0 528.6 593.0 616.7 632.3 652.0 650.0 703.2 Leasing Contract & Services Margins 965.6 1,042.7 1,167.5 1,240.5 1,296.4 1,256.4 1,382
Slide 22: Earnings per share and Dividend per share
Earnings per share and Dividend per share 2017 2018 2019 2020 2021 2022 Earnings per share (IAS 33) Net income (EUR m) 567.6 555.6 564.2 509.8 873.0 1,203.2 Number of shares outstanding at end of period (m) 404.1 404.1 404.1 404.1 404.1 565.7 Weighted average number of shares (m) 404.1 404.1 404.1 4
Slide 23: Increased recognition of ALD's strong commitments in ESG
Increased recognition of ALD’s strong commitments in ESG B 74/100 (Gold) Advanced Low Risk (16) ‘A’ rating C (“Prime”) Top 12% Better than: Improvement to #1 Top 30% Rated “Prime” Top 2% in Business on sustainability - European average Support Services performance Gold rating renewed Top 8% - Rental
Slide 24: 2023 financial results agenda
2023 financial results agenda 12 May 2023 3 November 2023 Q1 results Q3 and 9M results 3 August 2023 8 February 2024 Q2 and H1 results Q4 and FY results 24 │08/02/2023
Slide 25: Slide 25