ALD Automotive : Feedback from conference call: a few additional highlights, positive momentum, target price raised to € 15 from € 14, Outperform rating maintained
>On future growth: commercial momentum is there, to be reflected in the figures later - While the vehicle fleet was stable compared to the end of 2020 (1,759k vs. 1,758k), the group said the commercial momentum remains good, with a number of contracts won during the quarter. However, these contracts are yet to translate into figures, as the time between signature and delivery of the vehicles (and therefore invoicing) is traditionally several weeks or months, and ...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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