ALD Automotive : An initial publication consolidated at 22 May that makes for tricky reading, synergy forecasts postponed by a year
>Many one-offs - ALD reported this morning its earnings, as well as those for the ALD-LeasePlan entity consolidated for the first time, but only factoring in an integration since 22 May, i.e. just over one month. The group has not yet provided any pro forma indications. Leasing contract margin & service margin: with € 170m from the LeasePlan consolidated at 22 May. Car sales results: we note: i/ the impact of the reduction in depreciations for € 89m, a histo...ALD is a service leasing and vehicle fleet management group with a fleet of more than 1,375,000 vehicles in 41 countries. Under a full-service lease, the client pays the leasing company a regular monthly lease payment to cover financing, depreciation of the vehicle and the cost of various services provided in relation to the use of the vehicle (such as maintenance, replacement car, tyre management, fuel cards and insurance). Fleet management services include the provision of outsourcing contracts to clients under which the vehicle is not owned by Co., but is managed by Co. and for which the client pays fees for the various fleet management services provided.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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