Ayvens reports €266m Q1 profit and stays on track for PowerUP targets

Ayvens has reported strong financial results for the first quarter of 2026, with rising earnings, improved margins and continued progress toward its strategic PowerUP 2026 targets.

The group posted net income (group share) of €266 million for the quarter, up 21.2% year-on-year, alongside a return on tangible equity (ROTE) of 13.9%, compared with 11.0% in Q1 2025.

Earnings per share also increased to €0.31, reflecting improved profitability and a stronger revenue mix.

Ayvens reported gross operating income of €816 million, broadly stable year-on-year, supported by higher margins and ongoing integration synergies.

Underlying earnings margins rose to €875 million, up 6.9% compared with €822 million in Q1 2025, while the cost-to-income ratio improved to 54.0%, down four percentage points year-on-year.

The group also highlighted €65 million in gross revenue synergies and €42 million in cost synergies, reflecting continued progress in integrating LeasePlan into the business.

Ayvens’ total fleet stood at 3.077 million vehicles at the end of March 2026, down 5.0% year-on-year due to the continued impact of portfolio reviews following the LeasePlan acquisition.

However, full-service leasing contracts increased to 2.494 million vehicles, up 3.3% year-on-year, demonstrating ongoing demand for long-term leasing solutions.

Earning assets reached €52.5 billion, reinforcing the scale of the group’s operations.

Operating expenses declined by 10.7% to €422 million, contributing to improved efficiency, while the cost of risk remained stable at 19 basis points.

Despite a decline in net used car sales results to €59 million, the group maintained its full-year guidance, pointing to disciplined cost management and a balanced approach to growth.

“Ayvens delivered once again a strong set of financial results with a better mix of revenues, as higher margins offset the anticipated normalization of used car results,” he said.

“The group has continued to deliver on its integration roadmap, translating into the continued ramp-up in revenue and cost synergies across the organisation.”

He added that the company’s focus on customer satisfaction and operational excellence is geared towards “sustainable profitability and value creation for all its stakeholders.”

Ayvens reaffirmed its full-year 2026 guidance, including net used car sales results of around €79 million, and said it remains on track to achieve its PowerUP 2026 targets.

With improved margins, strong cost control and ongoing integration benefits, the group said it is well positioned to deliver continued growth and profitability through the remainder of the year.