Report
Geoffroy Michalet

Ayvens : Decent Q2, particularly on opex management, some one-offs to provide a boost

>Pretty good Q2 figures on opex, the rest is close to expectations, margins somewhat helped by one-offs Q2 2024 - For H1, Ayvens reported pretty good-quality figures, with two points to highlight.Leasing & service margin: broadly in line but helped by non-recurrent items for c. € 28m (novation/breakage = end of some contracts that crystallise the mark-to-market effects, which are positive in this instance). These factors are likely to be on a smaller scale over t...
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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