Ayvens · EURONEXT:AYV
Ayvens — ALD — Debt Investor Presentation (June 2022)
33 slides from Ayvens's debt investor presentation, June 2022
Slide 1: ALD's new Green & Positive Impact Bond
ALD’s new Green & Positive Impact Bond 1 | 06/2022
Slide 2: Disclaimer
Disclaimer The information contained in this document (the “Information”) has been prepared by ALD (the “Company”) solely for informational purposes. The Information is proprietary to the Company and confidential. This presentation and its content may not be reproduced or distributed or published, d
Slide 3: Executive summary
Executive summary Key Investment Highlights ▪ ALD, a global leader in mobility solutions benefiting from strong scale effect throughout the value chain, currently owned at 80% by Societe Generale ▪ Outstanding business performance and record financial results in FY 2021 & Q1 2022. Strong fleet and m
Slide 4: First quarter 2022 Results
First quarter 2022 Results
Slide 5: Excellent start to the year in a changing environment
Excellent start to the year in a changing environment Funded fleet Used car sales per Net income unit sold (Group share) 1.44m EUR 3,101 EUR 255m +4.8% vs. March 2021 vs EUR 439 Q1 2021 +64.2% vs Q1 2021 Framework agreement for the acquisition of LeasePlan signed on 22 April 2022 5 | 06/2022
Slide 6: Good commercial dynamics
Good commercial dynamics In a context of continuing supply constraints Funded fleet (‘000) at end of period Funded fleet at 1,436k vehicles, up 4.8% vs end March 2021 +4% ▪ Organic contribution to funded fleet growth: +2.6% vs. end March 2021 1 436 +2% 1 427 ▪ EVs representing 26% of passenger car d
Slide 7: LeasePlan transaction timeline
LeasePlan transaction timeline Main achievements and next steps 2022 2023 Q1 Q2 Q3 Q4 6 January 2022 22 April 2022 ALD rights issue Signing of MoU Signing of Framework Agreement Transaction closing Q1 2022 Completion of works councils consultation M&A timeline Regulatory approvals Integration Integr
Slide 8: Solid operating performance
Solid operating performance Dynamic Leasing contract and Services margins growth ▪ Total margins up 4.5% vs Q1 2021 when adjusted for: Total margins excl. UCS (in EUR m) › Q1 2022 provision in Ukraine: EUR -27.3m 323 328 329 › Fleet revaluation impact: EUR +12.5m (vs EUR -0.9m in Q1 2021) ▪ Leasing
Slide 9: Exceptionally high net income supported by used car sales
Exceptionally high net income supported by used car sales Cost of risk (1) (in EUR m) 30 Low cost of risk: EUR 7.9m vs EUR 8.7m in Q1 2021 ▪ Including EUR 2m impairment charge on receivables in 18 Ukraine in Q1 2022 12 12 ▪ Continued low default rate 9 8 9 8 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2020 2021 20
Slide 10: ALD Automotive Sustainability ambitions
ALD Automotive Sustainability ambitions 10 | 06/2022
Slide 11: ALD's Strategic Plan: Move 2025 sustainability strategy
ALD’s Strategic Plan : Move 2025 2 ALD’s sustainability strategy 11 | 06/2022
Slide 12: ESG Strategy and Scorecard
ESG Strategy and Scorecard 2025 target 2021 actual - 40% 30% of new car deliveries to on CO2 (2) emissions vs -15% 2019 Shaping the future of sustainable mobility be EV (1) • A low emission fleet - Powertrain shift, electrification 27% • New types of usage - Sharing, MaaS, Flex • Safety – Training &
Slide 13: ALD ahead of Move 2025 objectives on sustainable mobility
ALD ahead of Move 2025 objectives on sustainable mobility Passenger Car deliveries by Powertrain (EU+)(1) EVs represented 30% of passenger car deliveries in Q4 21 3% 5% 12% (EU+) ▪ 27% during FY 2021 71% 53% 85% ▪ Reaching 2025 target ahead of time 8% 6% 6% 6% 18% 27% ALD Electric offer (including c
Slide 14: ALD ESG Commitments, Ratings & Awards
ALD ESG Commitments, Ratings & Awards B 70/100 (Gold) Advanced Low Risk (16.2) ‘A’ rating C (“Prime”) Better than: Improvement to #1 Top 12% Top 30% Rated “Prime” Top 3% in Business on sustainability • European Support Services performance average Gold rating renewed Top 8% Top 1% in Transportation
Slide 15: Green & Positive Impact Bond Framework
Green & Positive Impact Bond Framework 15 | 06/2022
Slide 16: Applying best practices standards
Applying best practices standards ALD’s Green & Positive Impact Bond Framework has been updated to maintain best market practice standards: In alignment with the UNEP FI’s Principles for Positive Impact Finance – PPIF (2017) and the ICMA’s Green Bond Principles (2021) hereafter referred to as the “I
Slide 17: Green & Positive Impact Bond Framework
Green & Positive Impact Bond Framework Aligned with all the core components of the ICMA’s Green Bond Principles (2021) and the UNEP FI’s Positive Impact Finance Principles (2017) : 1 2 3 • Finance or refinance “Eligible vehicles” that • The Green and Positive Impact Bond • The Green and Positive Imp
Slide 18: Vehicles qualifying for Positive Impact
Vehicles qualifying for Positive Impact An amount equivalent to the net proceeds of the Green and Positive Impact Bond issuance will be exclusively used to finance or refinance “Eligible vehicles” that contribute to the development of clean transportation and the transition to a low carbon future. E
Slide 19: Provisional portfolio to be financed
Provisional portfolio to be financed Use of Proceeds Seasoning of Vehicles (Investment in M EUR) Portfolio of Selected Eligible Vehicles Reporting date 31 May 2022 Total Net Investment Amount EUR 500 000 285 Number of Vehicles 14 177 100% allocated at closing Country split (Investment in M EUR) 68%
Slide 20: Assessment & EU Taxonomy alignment
Assessment & EU Taxonomy alignment With regards to the standards enforced by European taxonomy , ALD can state the following: • ALD’s commercial activities are eligible for European taxonomy under activity 6.5 listed in the delegated act “Transport by motorbikes, passenger cars and light commercial
Slide 21: Transparency
Transparency In line with the Positive Impact Finance Principles and recommendations of the Green Bond Principles, ALD commits to report on the following basis, making it available on its website: Publication of the reporting External review of the reporting • ALD, will publish annually and until th
Slide 22: Second Party Opinion
Second Party Opinion ALD has commissioned ISS ESG to conduct an external review of its Framework and issue a second party opinion (“Second Party Opinion”) on the Framework’s environmental and social credentials and its alignment with: • The PPIF (2017) • The ICMA Principles (2021) • The EU GBS, on a
Slide 23: Conclusion
Conclusion Publication of the reporting Application of the Principles for Life cycle perspective Positive Impact Finance External review of the reporting Alignment with the Green Bond Second party opinion provided Reporting on GHG emissions Principles by ISS ESG Publication of the Framework and futu
Slide 24: Appendix
Appendix 24 | 06/2022
Slide 25: Indicative terms of the new issue
Indicative terms of the new issue Issuer ALD S.A. Format NGN Status of the Notes Senior unsecured Issuer Rating BBB (Credit Watch Positive) by S&P / BBB+ (Stable) by Fitch Expected Issue Rating BBB by S&P / BBB+ by Fitch Currency and Amount EUR 500m (no grow) Tenor 5 -year Interests Fixed Rate, annu
Slide 26: First quarter financial results
First quarter financial results In EUR million Q1 2022 Q1 2021 Var. Var. % Total contracts(1) ('000) 1,737 1,759 -22 -1.2% Full service leasing contracts 1,436 1,370 65 4.8% Fleet management contracts 301 389 -87 -22.4% Leasing contract margin 168.4 171.6 (3.2) -1.9% Leasing contract & Services Marg
Slide 27: Balance sheet at December 2021
Balance sheet at December 2021 FY FY Var. Var. % Earning Assets increased by 8.0% In EUR million 2021 2020 FY 21 vs FY 20 FY 21 vs FY 20 vs December 2020 reflecting the increasing share of higher value Earning assets 22,489 20,825 1,664 8.0% vehicles (esp. Electric Vehicles) o/w Rental fleet 21,711
Slide 28: Acquisition of LeasePlan: creation of a leading global player in mobility
Acquisition of LeasePlan: creation of a leading global player in mobility Transaction key terms (1) Size Acquisition of 100% of LeasePlan for a total consideration of Cash EUR 2.0bn(3) A step change 3.5m fleet (as of Sept-21) towards creating a > 800k vehicles purchased per annum EUR 4.9bn(2) leadin
Slide 29: Delivering value to shareholders
Delivering value to shareholders High growth Robust balance sheet and solid capital structure Expected annual fleet growth post ≥6% CET1 ratio Total capital ratio integration ~13% (3) 15-16% Strong operating leverage Strong ALD ratings Combined company Pre-tax run-rate cost synergies of ~EUR 380m by
Slide 30: Example of positive impact assessment – 2018 Bond Yearly Reporting (1/2)
Example of positive impact assessment – 2018 Bond Yearly Reporting (1/2) 30 | 06/2022
Slide 31: Example of positive impact assessment – 2018 Bond Yearly reporting (2/2)
Example of positive impact assessment – 2018 Bond Yearly reporting (2/2) 31 | 06/2022
Slide 32: Speakers' contact details
Speakers’ contact details Gilles MOMPER – ALD Group CFO +33 1 57 29 36 75 gilles.momper@aldautomotive.com Béatrice LAN-SHUN – ALD Group Head of Investor Relations +33 9 87 98 37 43 beatrice.lan-shun@aldautomotive.com Stéphane RENIE – ALD Group Head of Corporate and Social Responsibility +33 1 57 29
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