Ayvens has reported a 22% fall in pre-tax profit, down from €1.66 billion in FY2022 to €1.29 billion in FY 2023.
The global mobility brand, Ayvens, was unveiled in October 2023 following the €4.8bn acquisition of LeasePlan by ALD Automotive.
Ayvens reported that commercial activity remained strong, with earning assets up by 14.2% year-on-year to €52.0 billion. Growth was primarily driven by inflation on car prices and the transition to EV.
At the end of 2023, its total fleet stood at 3.42 million, up by 3.0% year-on-year. Electric vehicle (EV) penetration reached 35% of new passenger car registrations.
Ayvens’ BEV and plug-in hybrid (PHEV) penetration stood at 21% and 13% respectively in 2023.
Full-service leasing contracts reached 2.7 million vehicles, up 3.2% year-on-year, and fleet management contracts increased by 2.1% reaching 0.7 million vehicles.
Ayvens blamed a €400 million year-on-year decline in used car sales on the reduction in depreciation costs in previous quarters as the used car market normalised.
Commenting on the 2023 group results, Tim Albertsen (pictured), CEO of Ayvens stated: “2023 was marked by the acquisition of LeasePlan and our teams’ commitment to become one and to lay the foundations for the successful creation of the leading global sustainability mobility player.
“A few months into the integration, I am grateful for the unwavering commitment of our employees who maintained the highest standards of customer service while efficiently implementing our integration plan, which progresses according to schedule.
“In the context of normalising used car markets, higher inflation and volatile interest rates, Ayvens posted mixed financial results for a transition year, compared to an exceedingly high 2022 base, but confirmed its strong capital position.
“In accordance with our strategic plan, our teams are tackling these challenges head on and have undertaken decisive steps to restore our margins, reduce the volatility of our revenues and protect the value of our assets.
“I am confident that we can achieve this, thanks to our unique competitive position and proven agility, and that we will be able to see the benefits by the end of this year.”