ALD Automotive : Beats forecasts once again, still driven by used vehicle prices that are seeing an upturn
>Results far above forecasts - ALD Automotive reported this morning its results, driven by vehicle prices that enable a significant reduction in amortisation for vehicles in the fleet.In Q1 : Fleet: at 1,815k vehicles, in line. Leasing contract margin & services margin: at € 541m (€ 625m in Q4 2022), far above forecasts (€ 438m ODDO BHF & € 478m consensus), due to the continuing material decline in vehicle depreciations (€ 163m in Q1 after € 220m in Q4)...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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