Report
Geoffroy Michalet

ALD Automotive : Une bonne surprise de fin d’année, les perspectives 2021 précisées au T1. Surperformance inchangée, OC 14.0 € vs. 13.5 €

>Une année 2020 meilleure qu’escompté, malgré un certain conservatisme - Le nombre de contrats a été stable vs 2019, grâce notamment à la très bonne reprise au T3 et au T4 et l’extension de certains contrats. La bonne surprise vient du volume d’UCS en 2020 de 305k soit une hausse de 3,1% vs 2019, notamment grâce à l’amélioration de la plateforme de marketing digital et la volonté des utilisateurs d’éviter les transports en commun. Au final, la marge par unité vendue s...
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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