Trading update on Q1 2023 results
First quarter 2023 results highlights
- Total Contracts 1.815 million contracts managed worldwide at end March 2023
- Funded fleet4 1.423 million vehicles, up 3.2% vs. end March 2022
- Leasing Contract and Services Margins at EUR 541.1 million, up 63.3% vs. Q1 2022 reflecting reduction in depreciation costs and non-operating items
- Used Car Sales result at EUR 190.5 million, vs. EUR 215.2 million in Q1 2022
- Operating expenses at EUR 260.5 million including LeasePlan-related costs, vs. EUR 187.5 million in Q1 2022
- Cost of Risk at EUR 8.8 million, vs. EUR 7.9 million in Q1 2022
- Impairment of the net book value of Russian and Belarus entities at EUR -20.6 million
On 12 May 2023, Tim Albertsen, ALD CEO, commenting on the Q1 2023 Group results, stated: “ALD again recorded a strong performance in Q1 2023 on the back of robust commercial dynamics and continued highly favourable used car markets. This outstanding achievement in a challenging macroeconomic environment reflects the relevance and the solidity of our business model through the cycle.
I am proud of the new initiatives launched in Q1 2023 to strengthen our leadership in sustainable mobility and further support EV penetration in all of our markets. In April, we completed the disposal of ALD Russia, which we had announced a few months ago. At the same time, we are accompanying our clients in high-growth markets thanks to our new joint venture in South East Asia. Our Group is in an excellent position to embark on the step-up change represented by the highly strategic and synergetic acquisition of LeasePlan.
ALD’s Board has called an Extraordinary General Meeting on 22 May 2023 to close the acquistion of LeasePlan. We at ALD are very excited about welcoming the LeasePlan teams very soon and starting a new chapter of our development, where we will join forces to continue leading the transformation of the mobility industry and to generate value for our customers and shareholders.”
Read the Press Release
Lire le communiqué de presse