Ayvens delivers strong Q1 2025 results amid ongoing integration success

Ayvens, a global player in mobility solutions and vehicle leasing, reported robust financial results for the first quarter of 2025, highlighting steady growth in core business segments and accelerated synergy realisation as it continues its post-merger transformation.

Gross operating income reached €819 million, a 3.3% increase compared to €793 million in Q1 2024. The company’s leasing and services margins also rose to €708 million, up 2.9% year-on-year, while underlying margins expanded to 562 basis points of average earning assets, compared to 522 bps in the same period last year.

The used car sales result and depreciation adjustments climbed to €111 million, a 5.8% increase from Q1 2024, supported by a slower normalisation of the used car market and lower depreciation adjustments. Per unit, used car sales results improved to €703, compared to €689 in Q1 2024 and €239 in Q4 2024.

A key highlight of the quarter was the €61 million in realised synergies, tripling from €20 million a year ago and marking strong progress in the integration process. Ayvens also improved its cost-to-income ratio, which dropped to 58.0%, a sharp improvement of 9.7 percentage points from Q1 2024.

Ayvens also reported a 1.4% increase in earning assets, driven by rising vehicle values, and a solid CET1 ratio of 13.2% at the end of March 2025, benefiting from the favourable impact of CRR3 implementation.

Commenting on the results, Tim Albertsen, Group CEO of Ayvens, said: “I am happy to share that Ayvens has delivered a strong financial performance across the board for the first quarter of 2025 and has continued on its integration and transformational journey at a high pace.”

Albertsen noted that over half of Ayvens’ fleet is now managed on a unified IT platform across 11 of the 21 overlapping countries, reflecting strong progress in system and operational integration. The company has begun implementing its target operating model for corporate and IT functions following internal approvals, aiming to make the organisation leaner and more efficient.

“As several key milestones have now been reached on our integration roadmap and after the 2024 thorough review of our business portfolio,” Albertsen added, “we are now building up a sustainable and profitable growth path for the coming quarters through targeted and complementary commercial initiatives.”

Today’s financial results follow Ayvens’ recent announcement of a major expansion of its partnership with BYD, a global leader in new energy vehicle (NEV) manufacturing. The expanded agreement will see Ayvens extend its full-service leasing offerings to both corporate and individual clients in seven new European markets: Greece, Hungary, Portugal, Finland, Ireland, Romania, and Sweden.