Report
Geoffroy Michalet

ALD Automotive : Toujours convaincus du modèle malgré des risques à court terme

>Les principaux risques : 1/ la valeur de revente et 2/ le coût du risque - Premier Risque : la marge de revente des véhicules d’occasionLa marge de revente des véhicules d’occasion a eu tendance à baisser ces dernières années, que ce soit en matière de marge par véhicule ou en contribution absolue. La situation est donc moins critique qu’elle ne l’aurait été il y a quelques années (effet de base favorable).Marge de revente de véhicules d’occasion §rch...
Underlying
ALD SA

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.

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Geoffroy Michalet

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