Ayvens has reported a fall in income in its financial results for the second quarter of 2026, amid what it described as a tough used car market.
The leasing giant has reported a net income group share of €248 million, down by 8.7% year-on-year. Contributing to this was a net used car sales result of -€8 million, compared with €143 million in Q2 last year.
Despite this, Ayvens has described its Q2 operating performance as strong, with leasing and services margins at €762 million – a 7% year-on-year increase – and underlying margins of €800 million, up by 9.5% compared with Q2 2025.
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Ayvens also said it had achieved cost synergies of €112 million, up from €86 million in Q2 2025, which it said put it on track to achieve its €440 million target for 2026 as outlined in its PowerUp 2026 strategy.
It has also carried out a €450 million share buyback, and announced a cash dividend of €0.32 per share to be paid out on September 10.
CEO hails focus on margins and efficiency
The company has reported a return on tangible equity figure of 13.4% for Q2, down slightly from 13.7% in the same period last year. However, the company’s H1 figure of 14.1% is a 1.7% year-on-year increase, which Philippe de Rovira, CEO at Ayvens, attributed to a focus on robust margins and cost efficiency amid the used car market challenges.
He said: “Ayvens has continued to deliver on its strategic and financial roadmap, with strong margins and further cost reductions, mitigating the anticipated normalization of used car sales result in a moving environment.
“I am pleased to announce a €700 million exceptional distribution, reaffirming the group’s commitment to creating value for our shareholders.
“Ayvens is well positioned to reach its PowerUp 2026 targets. I look forward to presenting the next phase of our strategic and financial trajectory at our Capital Markets Day in London on September 21.”
Profit focus brings fleet size decline
Ayvens’ fleet now contains 3.054 million vehicles, down by 4.7% year-on-year and by 0.8% compared with Q1, which the company said reflected the continuing impact of a portfolio review focusing on profitability. This included a 0.7% quarterly drop in full service leasing contracts, to 2.475 million, and a 0.8% quarterly drop in fleet management contracts, to 579,000.
In terms of fuel mix, 31% of deliveries in Q2 were of EVs, up from 29% in Q1 and 27% in Q2 last year. Hybrids saw a yearly rise from 26% to 28%, and plug-in hybrids from 11% to 12%. ICE vehicle deliveries were down to 26%, compared with 34% a year earlier.