Ayvens · EURONEXT:AYV
Ayvens — Q1 2025 Earnings Presentation
29 slides from Ayvens's earnings presentation, Apr 30, 2025
Slide 1: Q1 2025 financial results
Q1 2025 financial results 30 April 2025 /
Slide 2: The information contained in this document (the “Information”) has been prepared by Ayvens (the
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
Slide 3: Contents
Contents (1) Highlights (2) Q1 2025 financial results (3) Appendix A
Slide 4: Highlights
Slide 5: Key takeaways
Key takeaways Income statement Margins 522 bps Used car sales result and depreciation adjustments per unit EUR 689 Used car sales result per unit @ EUR 1,661 Underlying C/I ratio © 67.7% Net income group share EUR 181m ROTE 9.4%
Slide 6: Fleet and earning assets
6 Fleet and earning assets Earning assets in EUR bn as at 31 March 2025 Funded fleet Fleet management 53.5 52.7 3,375 3,246 Gas 662 Mar.24 Mar.25 /) Mor.24 Mar.25 SS In EU+ = BEV PHEV mICE mHybrids Others 44% OnE "% z ca Q1 2024 Q1 2025 1. Management information 2, Q12024 on a like-for-like perimete
Slide 7: Single IT platform integration and simpler organisation
Completed in 11 out of the 21 overlapping countries. c. 52% of the total fleet now on a single IT platform per country Simpler, integrated and more efficient organisation EUR 61m (1) in Q1 2025 7
Slide 8: Building up a sustainable and profitable growth path
Building up a sustainable and profitable growth path From portfolio reshaping in 2024 to profitable growth Large client wins Address all client segments and needs o PONSTROCTEN with specific and adapted approach CZ... VV yee @veOouA FERRERO ost ct retail campaigns in Extension to 7 new countries, u
Slide 9: Q1 2025 financial results
Slide 10: Gross operating income increase supported by margins and UCS result
in EURMm GOI increase supported by both margins and UCS result Gross Operating Income Leasing and Services Margins Used car sales result and Depreciation adjustments € « 752 a os3 714 bys) zat ¢ pm 27-4746 - 147-136-145 -162. 83 Q12024 022024 G3 2024 042024 012025 12024 022024 032024 042024 Q12025 1
Slide 11: Margins trending higher
il Margins trending higher Margins in bps Underlying margins +10.1% vs a1 2024 Ramp up in revenue synergies EUR 42 million vs. EUR 20 million in Q1 2024 Non-recurring items: mostly hyperinflation in Turkey +5 € 5 752 rd 683 714 693 721 s eel T4777 =ae7 Taq Q12024 = Q2.2024. a3. 2024 = «a4. 2024 Q1 2
Slide 12: Slower UCS normalization, lower impact of depreciation adjustments
Slower UCS normalization, lower impact of depreciation adjustments Result per unit sold (in EUR) ~ 1480 1,420 ~~s 2 1,267 1,229 689 703 618 493 239 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 — — UCS result per unit sold —UCS result and depreciation adjustments per unit sold agement information Used Car
Slide 13: Continued costs reduction across the board
Continued costs reduction across the board Restated for the impact of IFRIC 21 on business taxes, Q1 2025 underlying operating expenses at EUR 431m CTA at EUR 36m, on track with annual guidance 13
Slide 14: Strong increase in net income group share
Strong increase in net income group share Cost of risk (in EUR m) Profit before tax (in EUR m) Net income group share (in EUR m) 27 25 31.5% 25.5% 35:5% 49 94%, 30.0% 11.0% 23 22 23 12024 a22024 032024 042024 012025 Q12024 022024 Q32024 042024 12025 12024 ©a2 2024 ©932024 a42024 a1 2025 mms Cost of
Slide 15: Risk-Weighted Assets and Capital
Risk-Weighted Assets and Capital RWA (in EUR bn) CET 1 ratio 59.0 13.2% 12.6% -3.4 | 31 December 2024 31 March 2025 Oo oe oe xe wr or gor of oe <a [om 15 1. Forword deposit, order bank, guarantees
Slide 16: Appendix
Slide 17: Impact of depreciation adjustments and PPA on UCS result
Impact of depreciation adjustments and PPA on UCS result Used car sales result and Depreciation adjustments Projected impacts of prospective depreciation and PPA to be released in future UCS results™ Prospective in EUR million depreciation stock € 3 2 2025 onwards ~145 - c 2026 -103 - 2027 and onwar
Slide 18: Balance sheet as at March 2025
18 Balance sheet as at 31 March 2025 in EUR million 31 March 2025 31 December 20: Earning assets 53,483 53,565 o/w Rental fleet 51,464 51,550 o/w Finance lease receivables 2,019 2,015 Cash & cash deposits with the ECB 5,377 5,023 Intangibles (incl. goodwill) 2,788 2,791 Operating lease and other rec
Slide 19: Q1 2025 financial results
1g Q1 2025 financial results Var. Var. % Q12025 a12024 212025 Q1 2025 in EUR million Total contracts ('000) Full service leasing contracts vs. Q1 vs. Q1 2024 2024 3,246 3,386 = (139.7) -4.1% 2,584 2,699 (115.6) -4.3% Fleet management contracts 662 686 (24) -3.5% In EUR million Leasing margin 265.1 2
Slide 20: Earnings per share (EPS)
Earnings per share (EPS) Basic EPS Q1 2025 Q1 2024 Existing shares 816,960,428 816,960,428 Shares allocated to cover stock options and shares awarded to staff (432,602) (839,734) Treasury shares in liquidity contracts (163,293) (143,312) End of period number of shares 816,364,533 815,977,382 Weighte
Slide 21: Return on tangible equity (ROTE)
Return on tangible equity (ROTE) in EUR ion Q1 2025 2024 Group shareholders’ equity 1,350.7 1,036.1 AT1 Capital (750.0) (750.0) Dividend provision and interest on AT1 capital ® (459.1) ($20.5) OCI excluding conversion reserves 1.6 20.7 Equity base for ROE end of period 10,153.2 9,786.3 Goodwill 2,12
Slide 22: CRR3/CRD5 prudential capital ratios and RWA
22 CRR3/CRDS prudential capital ratios and RWA in EUR million 31 March 2025 31 December 2024 Group shareholders’ equity 11,351 11,135 AT1 capital (750) (750) Dividend provision & interest on ATI capital “ (459) (340) Goodwill and intangible assets (2,788) (2,791) Deductions and regulatory adjustment
Slide 23: Tangible book value per share
Tangible book value per share in EUR million Q1 20; Q1 2024 Group shareholders' equity 1,350.7 1,036.1 AT1 capital (750.0) (750.0) Interest on AT capital (86.2) (85.4) Book value of treasury shares 15.3 18.1 Net Asset Value (NAV) 10,559.8 10,248.8 Goodwill (2,128.3) (2,128.3) Intangible assets (659.
Slide 24: Quarterly series
24 Quarterly series Leasing margin Me) 210.6 247.7 239.6 77.6 281.2 260.2 231.7 297.7 265.1 Services margin? 156.2 293.2 413.1 388.4 407.4 426.7 414.8 377.5 443.3 Leasing and Services margins (366.7 540.9 652.7 466.1 688.6 686.9 646.5 675.2 708.4 Used Car Sales (UCS) result 233.2 269.5 (321.1 254.7
Slide 25: Yearly series
25 Yearly series Leasing margin 02) 521.6 558.1 613.1 643.7 643.4 683.0 758.8 775.5 1,070.7 Services margin® 528.6 593.0 616.7 632.3 652.0 650.0 715.1 1,250.9 1,626.5 Leasing and Services margins 1,050.2 1,151.1 1,229.8 1,276.0 1,295.4 ‘1,333.0 1,473.9 2,026.4 2,697.2 Used Car Sales (UCS) result 201
Slide 26: ESG ratings
Better than European average + rental & leasing sector Platinum medal Top 1% Advanced Rank 4/98 in “Business Support Services EU” sector Top 30% Rated “Prime” on sustainability performance Top 30% in the sector 14.4 Low risk 10.9 Top 1% negligible low medium high severe Rank : 3/399 in transportatio
Slide 27: Glossary
Glossary BEV Earning assets EU+ EV ICE Hybrids MDA Other powertrains PHEV 27 Battery Electric Vehicles Net carrying amount of the rental fleet plus receivables on finance leases European Union, UK, Norway, Switzerland Electric Vehicles Internal Combustion Engine: Petrol and Diesel Mild and full hybr
Slide 28: Agenda
Agenda Shareholders’ meeting 19 May 2025 Dividend detachment 26 May 2025 Dividend payment 28 May 2025 Q2 and H1 2025 results 31 July 2025 Q3 2025 results 30 October 2025
Slide 29: Societe Generale Group
SOCIETE GENERALE GROUP