Worldwide news

06May

Trading update on Q1 2021 results

Trading update on Q1 2021 results
  • NET INCOME (GROUP SHARE) UP 20.7% VS Q1 2020
  • VERY STRONG USED CAR SALES RESULT PER UNIT AT EUR 439 AND A RECORD VOLUME OF USED CAR SALES AT 87K UNITS 
  • IMPROVING COST INCOME (EXCL UCS) RATIO AT 49.9%
  • STRONG PERFORMANCE CONFIRMING 2021 OUTLOOK
  • TOTAL CONTRACTS[1] STABLE AT 1.76 MILLION
  • ACQUISITION OF BANSABADELL RENTING (SPAIN) – c. 20K VEHICLES

First quarter 2021 results highlights

  • Leasing Contract and Services Margins at EUR 328.1m, up 1.5% vs. Q1 2020
  • Used Car Sales Result at EUR 38.2 million 
  • Operating Expenses up 1.1% vs. Q1 2020 
  • Cost of Risk at EUR 8.7m, vs. EUR 17.8m in Q1 2020
  • Net Income (Group share) at EUR 155.5m

Confirmed outlook for 2021

In view of the continued uncertainty related to the pandemic, ALD is providing an outlook for 2021 that is explicitly linked to the central assumption that the impact of the COVID-19 pandemic will gradually fade and economic conditions improve thanks to strong macroeconomic policy stimulus by governments.

For 2021 the Group confirms its expectations:

  • Positive funded fleet [2] growth
  • Positive Used Car Sales Result per unit 
  • Improvement in Cost/Income ratio (excluding Used Car Sales result) 


On 6 May 2021, Tim Albertsen, ALD CEO, commenting on the Q1 2021 Group Results, stated:

“2021 started with many expectations such as the end of the sanitary crisis and the restart of economic growth but the timing was a little slower than we all had hoped for. In Q1, many Western European countries were still under lockdowns and our industry was affected by the microchips shortage observed at global level. However, ALD has once again demonstrated its strength and agility in these complicated times, by accompanying its clients in need of a mobility solution with temporary solutions when new cars were not available. Our operating and financial performance in Q1 2021 was strong. Our remarketing tools have once again proven their efficiency and achieved an excellent performance over the quarter. We have already launched several projects which make us confident we will deliver our Move 2025 strategic plan.” 
 

[1] Total Contracts: Term replacing Total Fleet, defined as full service lease contracts, fleet management contracts, and new mobility solutions contracts

[2] Full Service Lease contracts including ALD Flex and Used Car Lease 
 

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