ALD Automotive : Q3 misses expectations, our estimates well below consensus for 2024
>Q3 revenues shy of our estimates and consensus - Ayvens (formerly ALD) published its Q3 results this morning, the first to include the full contribution from LeasePlan (Q2 included LP only for a few weeks).Leasing contract & service margin: well down at € 741m (ODDO € 885m, consensus: € 807m). The group cited strong pressure on the service margin (although the result is better than expected) due to inflation and contract extensions. The MtoM of derivatives accou...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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