Ayvens is pushing ahead with growth plans in 2025 after a year of “stabilisation of fleet and margins” reflected in “solid results”.

Ayvens says it’s resuming growth in 2025 after a year of stabilisation of fleet and margins

The global leasing and fleet management giant, created from ALD’s acquisition of LeasePlan in May 2023 and rebranded as Ayvens last year, said Q4 and full-year 2024 results were marked by “restored margins and decreasing operating expenses” as the first cost synergies are starting to kick in across the merged business.

Pre-tax profit for 2024 stood at €994.3m (£829.7m); down 18.8% from €1.224bn (£1.021bn) in 2023. Operating result was €984.2m (£821.3m); a fall of 19.2% from €1.219bn (£1.017bn) in 2023. Net income was €710.2m (£592.6m); down 9.9% from €787.9m (£657.5m) the previous year.

Leasing contract margin grew 38.1% to €1.07bn (£893.4m) from €775.5m (£648.8m) while its services margin rose 30.0% to €1.627bn (£1.357bn).

Ayvens’ total fleet stood at 3.298 million units as of 31 December 2024; down 3.4% year-on-year, reflecting “a commercial selective approach to restore margins”.

Fleet management contracts fell by 5.0% to 672,000 vehicles while full-service leasing contracts reached 2.626 million vehicles at year-end; down 3.0% on a like-for-like basis.

EV penetration reached 40% of new passenger car registrations in FY 2024 for the EU, UK, Norway and Switzerland, up 6 percentage points vs. FY 2023. BEV and PHEV penetration stood at 27% and 13% respectively in FY 2024.

Tim Albertsen, CEO of Ayvens, said it had been a “satisfactory year both from an operational and financial perspective in a backdrop of an intense transformational journey and a long-awaited normalisation of used car markets”.

Ayvens CEO Tim Albertsen

He added that the integration of entities and corporate functions had been delivered according to plan and “in remarkable conditions as no disruption has impacted our clients in the countries where the merger and migration has occurred”.

Looking ahead, Albertsen said: “After a year of stabilisation of fleet and margins, we intend to resume growth in 2025 while continuing to deliver our merger agenda.”

In 2025, Ayvens will continue to roll out its strategic and financial roadmap and will focus on three core priorities. These include the continued integration, which will gain momentum with the objective to finalise IT and legal integrations in overlapping countries and implement local target operating models to help deliver the remaining synergies and achieve the Group’s financial targets.

Ayvens also said it plans to resume fleet growth in 2025 and “capture growth perspectives by leveraging its leading positions and close partnerships with car manufacturers”. In parallel, the group will continue to “pro-actively monitor the EV value chain to ensure adequate profitability and mitigate residual value risk”.

The firm also said it would maintain high regulatory and ESG standards.

Ayvens also confirmed its PowerUp 2026 plan and 2025 guidance. More details are here.