Worldwide news

01Aug

ALD REPORTS FIRST HALF 2019 RESULTS

ALD REPORTS FIRST HALF 2019 RESULTS

• STRONG OPERATING PERFORMANCE CONFIRMING FY 2019 GUIDANCE
• TOTAL FLEET AT 1.70 MILLION VEHICLES
• STRONG OPERATING LEVERAGE: COST/INCOME RATIO (EXCL. CAR SALES
RESULT) CONTINUING TO IMPROVE
• H1 19 CAR SALES RESULT PER UNIT AT TOP END OF 2019 GUIDANCE
• NET INCOME (GROUP SHARE) AT EUR 280.7 MILLION


ALD Q2 & H1 RESULTS HIGHLIGHTS
Total Fleet: 1.70 million vehicles1 managed worldwide at end June 2019, up 7.2% vs. end June
2018
Leasing contract & services margins up 4.4% in H1 19 vs. H1 18 at EUR 638.0 million
Car Sales result per unit2 at EUR 346 in Q2 19, EUR 301 in H1 19
Gross Operating Income at EUR 681.4 million in H1 19, up 1.6% vs. H1 18
Operating expenses up 2.8% in H1 19 vs. H1 18, pushing Cost/Income ratio3 (excluding Car Sales Result) down to 49.4% from 50.7% a year earlier
Net Income (Group share) at EUR 280.7 million in H1 19, up from EUR 280.0m in H1 18;
ROE4 at 15.3% in H1 19

1 Not including Stern Lease fleet (~13,000 vehicles), see Note 4 to Financial Statements for details
2 Management information
3 4-quarter rolling average
4 Annualised ratio: Return on average equity calculated using Net income (Group Share) in the numerator (half-year figure multiplied by 2) and average of
the Shareholder’s equity at beginning and end of period in the denominator

KEY STRATEGIC INITIATIVES & OPERATIONAL DEVELOPMENTS
✓ Selected by Amazon to launch ‘Motors’ personal car leasing platform in Spain
✓ Acquisition of BBVA Automercantil’s vehicle renting portfolio in Portugal
✓ Completion of Stern Lease acquisition and partnership agreement in the Netherlands
✓ Partnership with retail chain Eroski in Spain


On 1 August 2019, Mike Masterson, ALD CEO, commenting on the Group Results, stated:
“In Q2 19, ALD has again proven its resilience in a complex environment, with fleet growth in line
with expectations. Private lease continued to show strong dynamics and passed an important
milestone in Spain, where ALD was selected by Amazon for the distribution of personal car leasing.
This achievement illustrates our ability to deliver best-in-class services to our customers and the
efficiency of our digital tools. The shift in our fleet away from diesel has accelerated, outperforming
the objectives we had set ourselves for this year. We continue to actively promote electric and hybrid
vehicles and are enriching our offer around electric vehicles. Our solid financial performance in Q2,
which was underpinned by our commercial successes and our strong operating leverage, makes us
confident we will reach the guidance we have set for 2019. We are convinced our strategy, built on
expanding partnerships and state-of-the-art technology, leaves the business well positioned to be a
leader in the mobility sector in the years ahead.”

Read the PR