Ayvens grows pre-tax profits against “subdued” economic backdrop

Ayvens has reported growth in pre-tax profits of just over 37% year-on-year, despite challenging operating conditions.

While pre-tax profits hit €279.8 million (£242.7m) in quarter two (Q2) 2024, its latest set of financial results showed that this had grown to €385.6m (£334.4m) a year later (Q2 2025).

Leasing and services margins rose 3.7% to €712m (£617m) over the same period, driven by solid underlying profitability and improved pricing discipline.

Margin performance was supported by a 45.9% increase in used car sales and depreciation adjustments to €143m (£124m), despite lower vehicle disposal volumes.

Tim Albertsen (pictured above), Group CEO at Ayvens, said that the “strong” set of financial results for the second quarter of 2025, built on the “solid” performance from the start of the year. “This marks a robust and satisfying first half, achieved despite a generally subdued economic environment,” he added.

Ayvens, majority-owned by Société Générale, was created through ALD’s £4.1 billion acquisition of LeasePlan in May 2023. 

In the UK, Ayvens is the largest leasing company, with a risk fleet of 294,538 cars and vans, according to last year’s Fleet News FN50.

At the end of Q2, Ayvens’ global fleet stood at 3.2 million vehicles – a 4.5% year-on-year decline, due to portfolio restructuring in the UK, Germany and Turkey.

Full-service leasing contracts totalled 2.5 million vehicles, down 4.6% year-on-year, while fleet management contracts declined 5.6% to 648,000 units.

Albertsen continued: “In Europe, new car registrations have yet to return to pre-Covid levels. Against this backdrop, we are successfully reinforcing our capabilities to serve the growing retail market, directly under the Ayvens brand - a key strategic focus for us.

He added: “Integration is progressing well, with migrations completed in 14 of the 21 overlapping countries.

“This is already driving synergies across both revenue and cost lines, and the resulting financial performance confirms we are on the right track.”

In July, Ayvens announced that Albertsen would retire at the end of the year, while Philippe de Rovira was named as his replacement.

Albertsen said: “I have every confidence in Philippe and the leadership team to continue delivering on our strategic and financial roadmap and to lead Ayvens into its next phase of development.”

Aveyns’ results come in the wake of Lex Autolease, part of Lloyds Banking Group, reporting a £10.6m loss in its annual accounts, just three years after pre-tax profits hit more than half a billion pounds.

The vehicle leasing giant – ranked second in last year’s Fleet News FN50 – blamed the decrease in reported profit on a combination of factors.

They included an increase on underlying depreciation charges on the funded fleet, lower profits on the disposal of vehicles, particularly electric vehicles (EVs), and an increase borrowing costs from interest rate rises.