Ayvens profit jumps 46% in 2025 to €996m

Fleet management and mobility services provider Ayvens reported a sharp increase in profitability for the fourth quarter and full year 2025, citing growing synergies, improving margins and a leaner operating model as it delivered on its strategic roadmap and confirmed its PowerUp 2026 financial targets.

Net income attributable to shareholders rose 45.7% year-on-year to €996 million in 2025, up from €684 million in 2024. For the fourth quarter alone, net income group share increased 45.2% to €232 million, underlining the strong finish to the year.

Full-year leasing and services margins climbed 9.1% to €2.94 billion, while underlying margins improved to 565 basis points of average earning assets, compared with 532 basis points a year earlier. In the fourth quarter, leasing and services margins rose 10.7% year-on-year to €747 million, with underlying margins at 567 basis points.

Performance in used car sales also strengthened. Net used car sales (UCS) result for 2025 reached €411 million, up 29.6% compared with 2024, with net UCS result per unit at €1,075, at the high end of the company’s guidance. In Q4, the UCS result more than doubled to €83 million.

Ayvens also reported continued cost discipline, with its cost-to-income ratio improving to 56.1% for the full year, beating guidance and down 7.1 percentage points from 63.2% in 2024. In the fourth quarter, the ratio stood at 56.2%, four points lower than a year earlier. Return on Tangible Equity (ROTE) rose to 12.9% in 2025 from 8.6% in 2024, while Q4 ROTE reached 12.3%, up from 7.8% in Q4 2024.

Earning assets stood at €53.0 billion at year-end 2025, down 1.0% year-on-year. The Group’s CET1 ratio was 13.2% at the end of the year, supporting a proposed total distribution of €1.15 billion for 2025, subject to shareholder approval at the annual general meeting in May 2026.

Philippe de Rovira, who was appointed CEO of Ayvens on 1 December 2025, credited the results to execution discipline and operational transformation across the group.

“2025 has been marked by key milestones, notably on IT migrations in overlapping countries, with 17 countries and 90% of the Group’s fleet now operating on the targeted IT platform of each country,” de Rovira said. “The Group has engaged into a leaner and more efficient operating model. These actions have translated into growing synergies, higher margins and a lower cost base.”

He added that stronger asset management and closer monitoring of residual values had helped Ayvens anticipate the normalisation of used-car markets. “On the back of these achievements, I am pleased to confirm the PowerUp 2026 financial targets on cost to income and ROTE,” de Rovira said, adding that the group would continue to prioritise profitability, asset risk management, customer satisfaction and operational excellence in 2026.