Slide 1: First quarter 2022 Results
First quarter 2022 Results 5 May 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: Highlights
= Highlights
Slide 4: 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 4 │05/05/2022
Slide 5: Responding to unprecedented challenges
Responding to unprecedented challenges Potential risk for Tactical measures the leasing industry Disruption of supply chains • Bulk purchases and order anticipation, leveraging on OEM(1) partnerships • Accompanying clients by extending contracts and proposing ALD Flex and Used Car Lease Inflation •
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: Q1 2022 Financial results
= QI 2022 Financial results
Slide 9: 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 10: Record Used car sales result
Record Used car sales result Used car sales result (in EUR m) Used car sales per unit sold (in EUR) Used cars sold ('000 units) 3,101 215 87 74 69 38 439 3 43 Q1 2020 Q1 2021 Q1 2022 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q1 2020 Q1 2021 Q1 2022 2020 2020 2020 2020 2021 2021 2021 2021 2022 Used Car Sales result
Slide 11: 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 12: Outlook
Outlook
Slide 13: Updated 2022 guidance
Updated 2022 guidance Funded fleet(1) Used car sales Dividend Payout ratio To grow between To be above To be between 2% and . 4% EUR 2,000 50% and 60% vs Dec 2021 per unit sold Previously Above EUR 1,000 1. Full Service Lease contracts including ALD Flex and Used Car Lease 13 │05/05/2022
Slide 14: Appendix
Appendix
Slide 15: 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% Services margin 160.6 156.5 4.1
Slide 16: Quarterly series
Quarterly series (in EUR million)1 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Leasing Contract Margin 159.0 127.3 145.3 172.9 171.6 185.2 174.2 201.8 168.4 Services Margin 164.1 165.6 164.8 157.5 156.5 158.3 173.5 161.8 160.6 Leasing Contract and Services Margins 323.1 2
Slide 17: 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 18: A global footprint
A global footprint Breakdown of fleet by country as at 31/03/2022 Northern Europe Contract Sweden 28,426 Western Europe Contract 6% Denmark 29,411 France 480,242 6% Finland 23,265 Germany 221,456 Norway 14,801 Italy 164,097 9% Total 95,903 United Kingdom 155,532 Spain 146,085 CEE Contract 1,737,113
Slide 19: 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 20: 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 21: Agenda 2022
Agenda 2022 5 May 2022 3 August 2022 Q1 results Q2 and H1 results 18 May 2022 4 November 2022 General assembly of Q3 and 9M results shareholders 21 │05/05/2022
Slide 22: Slide 22