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WKN: A2DSXM ISIN: FR0013258662 Ticker-Symbol: 3AL 
Frankfurt
08.03.21
09:30 Uhr
12,260 Euro
-0,080
-0,65 %
Branche
Fahrzeuge
Aktienmarkt
CAC Mid 60
1-Jahres-Chart
ALD SA Chart 1 Jahr
5-Tage-Chart
ALD SA 5-Tage-Chart
RealtimeGeldBriefZeit
12,28012,50011:01
Dow Jones News
240 Leser
Artikel bewerten:
(1)

ALD: Q3 & 9M 2020 Trading Update -2-

DJ ALD: Q3 & 9M 2020 Trading Update

ALD 
ALD: Q3 & 9M 2020 Trading Update 
 
05-Nov-2020 / 07:30 CET/CEST 
Dissemination of a French Regulatory News, transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
 
Press release 
Paris, 5 November 2020 
QUARTERLY FINANCIAL INFORMATION 
ALD reports third quarter and nine months 2020 results 
 
· STRONG PERFORMANCE OF REMARKETING: USED CAR SALES RESULT PER UNIT AT EUR 
333 ON AVERAGE IN Q3 2020 
 
· UPDATED 2020 GUIDANCE: USED CAR SALES RESULT PER UNIT TO AVERAGE EUR -50 
TO EUR 150 
 
· TOTAL FLEET: 1.76 MILLION VEHICLES, UP 1.6% VS. END SEPTEMBER 2019 
 
· LEASING CONTRACT AND SERVICES MARGINS RISING IN LINE WITH FLEET GROWTH 
WHEN ADJUSTED FOR IMPACT OF FLEET REVALUATION 
 
· EUR 4.8 MILLION DECREASE IN OVERHEADS IN Q3 2020 VS. Q3 2019 
DEMONSTRATING ABILITY TO CONTROL COSTS 
 
· NET INCOME (GROUP SHARE) AT EUR 140.6 MILLION IN Q3 2020, AND EUR 347.5 
MILLION IN 9M 2020 
 
             Q3 & 9M 2020 Results highlights 
 
· Leasing Contract and Services Margins at EUR 310.1 million in Q3 2020, 
and EUR 926.0 million in 9M 2020 
 
· Used Car Sales result positive at EUR 29.7 million in Q3 2020, and EUR 
18.0 million in 9M 2020 
 
· Cost of Risk at EUR 11.8 million in Q3 2020, with unchanged 
forward-looking provisions, and EUR 59.3 million in 9M 2020 
 
             2020 Updated Guidance 
 
· Total Fleet growth (organic) close to 0% versus 2019, plus bolt-on 
acquisitions as opportunities arise 
 
· Updated guidance on Used Car Sales result per vehicle to average EUR -50 
to EUR 150, 
 
             from EUR -250 to EUR 0 
 
· Cost/Income (excluding Used Car Sales result) ratio between 50% and 51% 
 
 On 5 November 2020, Tim Albertsen, ALD CEO, commenting on the 9M 2020 Group 
             Results, stated: 
 
   "Q3 2020 saw the used car markets recovering fast after lockdown measures 
were softened in Europe. In this context ALD has once again demonstrated its 
    agility by seizing market opportunities where possible, reflected in the 
strong performance of our remarketing activity this quarter. Flexible offers 
      continue to gain traction as well as used car lease. Our operating and 
         financial performance in 9M was strong despite inclusion of several 
  provisions recorded to reflect potential upcoming risks. Careful attention 
 to costs remains a focus area for ALD, as illustrated by the important cost 
         savings achieved once again this quarter. We are looking forward to 
  presenting our business strategy in further details on our Capital Markets 
             Day to be held on November 12th." 
 
             Strong performance underpinned by used car sales recovery 
 
  Total Fleet reached 1.76 million vehicles at the end of September 2020, up 
     1.6% vs. end of September 2019. Organic fleet growth (adjusting for the 
 impact of the disposal of ALD Fortune Auto Leasing & Renting in China) over 
  the same period stood at 1.7%. Funded fleet reached 1.37 million vehicles, 
             up 0.3% over the same period. 
 
   Leasing Contract Margin reached EUR 151.7 million and Services Margin EUR 
158.3 million in Q3 2020, down 9.5% and 0.3% respectively vs. Q3 2019. Taken 
  together they decreased by EUR 16.3 million vs. Q3 2019. When adjusted for 
 the impact of fleet revaluation, Leasing Contract and Services Margins rose 
 in line with fleet growth. The excess depreciation in Q3 reflects unchanged 
             assumptions from the H1 Fleet Revaluation. 
 
       The contribution to Gross Operating Income from Used Car Sales result 
   reached EUR 29.7 million in Q3 2020, up from EUR 21.1 million in Q3 2019. 
 
 Average sales margin on used vehicles[1] for the quarter came in at EUR 333 
per unit. 9M 2020 average was EUR 84 per unit. The number of used cars sold1 
     in Q3 2020 was 89K, up from 74K in Q3 2019, thanks to the efficiency of 
 ALD's digital remarketing platforms, combined with a strong recovery of the 
             used car market. Stock levels have decreased over the quarter. 
 
    Operating Expenses decreased by EUR 4.8 million in Q3 2020, reaching EUR 
       154.1 million, demonstrating ALD's strong ability to control costs in 
      difficult times. This decrease reached EUR 8.2 million in 9M 2020 when 
compared to 9M 2019, a significant achievement. Cost/income ratio (excl. UCS 
 result) reached 49.7% over the quarter and 50.5% over the first 9 months of 
             2020, compared to 48.7% in Q3 2019 and 49.3% in 9M 2019. 
 
   Impairment charges on receivables reached EUR 11.8 million, rising by EUR 
   1.1 million from the EUR 10.6 million recorded in Q3 2019. IFRS 9 forward 
   looking provisions were unchanged vs. June. The total for 9M 2020 reached 
             EUR 59.3 million vs. 32.4 million in 9M 2019. 
 
   As a result, ALD Net Income (Group Share) reached EUR 140.6 million in Q3 
   2020, down from EUR 146.1 million in Q3 2019, and EUR 347.5 million in 9M 
             2020, down from EUR 426.8 million in 9M 2019. 
 
2020 Agenda 
 
             12 November 2020 Capital Markets Day 
 
             10 February 2021 Q4 and FY 2020 results 
 
Press contact 
 
Stephanie Jonville 
 
ALD Communication Department 
 
Tel.: +33 (0)6 46 14 81 90 
 
stephanie.jonville@aldautomotive.com 
 
About 
 
ALD 
 
 ALD is a global leader in mobility solutions providing full service leasing 
 and fleet management services across 43 countries to a client base of large 
    corporates, SMEs, professionals and private individuals. A leader in its 
     industry, ALD places sustainable mobility at the heart of its strategy, 
 delivering innovative mobility solutions and technology-enabled services to 
             its clients, helping them focus on their everyday business. 
 
With 6 700 employees around the globe, ALD manages 1.76 million vehicles (at 
             end-September 2020). 
 
       ALD is listed on Compartment A of Euronext Paris (ISIN: FR0013258662; 
 Ticker: ALD) and is included in the SBF120 index. Société Générale is ALD's 
             majority shareholder. 
 
   This document contains forward-looking statements relating to the targets 
and strategies of ALD SA (the "Company") and its subsidiaries (together with 
  the Company, the "Group"). These forward-looking statements are based on a 
         series of assumptions, both general and specific, in particular the 
    application of accounting principles and methods in accordance with IFRS 
    (International Financial Reporting Standards) as adopted in the European 
       Union. These forward-looking statements have also been developed from 
     scenarios based on a number of economic assumptions in the context of a 
 given competitive and regulatory environment. The Group may be unable to: - 
   anticipate all the risks, uncertainties or other factors likely to affect 
   its business and to appraise their potential consequences; - evaluate the 
    extent to which the occurrence of a risk or a combination of risks could 
       cause actual results to differ materially from those provided in this 
      document and the related presentation. Therefore, although the Company 
   believes that these statements are based on reasonable assumptions, these 
 forward-looking statements are subject to numerous risks and uncertainties, 
    including matters not yet known to it or its management or not currently 
  considered material, and there can be no assurance that anticipated events 
        will occur or that the objectives set out will actually be achieved. 
 Important factors that could cause actual results to differ materially from 
    the results anticipated in the forward-looking statements include, among 
      others, overall trends in general economic activity and in the Group's 
 markets in particular, regulatory changes, and the success of the Company's 
strategic, operating and financial initiatives. More detailed information on 
the potential risks that could affect the Company's financial results can be 
   found in the Registration Document and in the Last Financial Report filed 
   with the French Autorité des Marchés Financiers. Investors are advised to 
      take into account factors of uncertainty and risk likely to impact the 
  operations of the Group when considering the information contained in such 
   forward-looking statements. Other than as required by applicable law, the 
           Company does not undertake any obligation to update or revise any 
  forward-looking information or statements. Unless otherwise specified, the 
    sources for the business rankings and market positions are internal. The 
financial information presented for the nine months ending 30 September 2020 
 was reviewed by the Company's Board of Directors on 4 November 2020 and has 
  been prepared in accordance with IFRS as adopted in the European Union and 
             applicable at this date. 
 
      Appendix 
 
Consolidated 
income statement 
in EUR million   Q3 2020  Q3 2019 Var %    9M     9M   Var % 9M 
                                    Q3    2020   2019  '20/'19 
                                   '20/ 
                                   '19 
Leasing Contract                         3,327. 3,350.   (0.7%) 
Revenues                                      6      0 
Leasing Contract                         (2,735 (2,650    +3.2% 
Costs -                                     .2)    .3) 
Depreciation 
Leasing Contract                         (144.5 (215.3  (32.9%) 
Costs -                                       )      ) 
Financing 
Unrealised                                (0.6)   13.5 (104.8%) 
Gains/Losses on 
Financial 
Instruments 
Leasing Contract    151.7   167.6  -9.5%  447.2  497.9  (10.2%) 
Margin 
Services                                 1,591. 1,599.   (0.5%) 
Revenues                                      3      5 
Cost of Services                         (1,112 (1,133   (1.8%) 
Revenues                                    .6)    .1) 
Services Margin     158.3   158.7  -0.3%  478.8  466.4    +2.7% 

(MORE TO FOLLOW) Dow Jones Newswires

November 05, 2020 01:30 ET (06:30 GMT)

DJ ALD: Q3 & 9M 2020 Trading Update -2-

Leasing Contract    310.1   326.3  -5.0%  926.0  964.3   (4.0%) 
and Services 
Margins 
Proceeds of Cars                         2,365. 2,266.    +4.3% 
Sold                                          1      6 
Cost of Cars                             (2,347 (2,202    +6.6% 
Sold                                        .1)    .1) 
Used Car Sales       29.7    21.1  40.5%   18.0   64.5  (72.1%) 
result 
GROSS OPERATING     339.7   347.4  -2.2%  944.0 1,028.   (8.2%) 
INCOME                                               8 
Staff Expenses                           (304.7 (304.8   (0.0%) 
                                              )      ) 
General and                              (120.3 (130.2   (7.6%) 
Administrative                                )      ) 
Expenses 
Depreciation and                         (42.4) (40.6)    +4.5% 
Amortisation 
Total Operating   (154.1) (158.9)  -3.0% (467.4 (475.6   (1.7%) 
Expenses                                      )      ) 
Cost/Income         49.7%   48.7%         50.5%  49.3% 
ratio (excl UCS 
result) 
Impairment         (11.8)  (10.6)  10.5% (59.3) (32.4)   +83.1% 
Charges on 
Receivables 
OPERATING RESULT    173.9   177.9  -2.3%  417.2  520.7 (100.0%) 
Share of Profit       0.7     0.5  47.0%    1.4    1.4  (19.9%) 
of Associates 
and Jointly 
Controlled 
Entities 
Profit Before       174.6   178.4  -2.1%  418.7  522.1    +5.0% 
Tax 
Income Tax         (32.2)  (31.1)   3.6% (76.8) (90.8)  (19.8%) 
Expense 
Result from           0.0     0.0          10.0    0.0  (15.5%) 
discontinued 
operations 
Profit for the      142.4   147.3  -3.3%  351.9  431.2 
Period 
Net Income          140.6   146.1  -3.8%  347.5  426.8  (18.4%) 
(Group share) 
Non-Controlling       1.7     1.2  49.4%    4.4    4.4  (18.6%) 
Interests 
 
=--------------------------------------------------------------------------- 
 
[1] Management information 
 
Regulatory filing PDF file 
 
File: ALD Q3 [1] 
 
Language:        English 
Company:         ALD 
                 1 Rue Eugène et Armand Peugeot 
                 92500 Rueil-Malmaison 
                 France 
Internet:        https://www.aldautomotive.com/ 
ISIN:            FR0013258662 
Euronext Ticker: ALD 
AMF Category:    Additional regulated information to be pubicly disclosed 
                 under the legislation of a Member State / Third quarter 
                 financial report 
EQS News ID:     1145564 
 
End of Announcement EQS News Service 
 
1145564 05-Nov-2020 CET/CEST 
 
 
1: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=46ba113d97ee776600866191d39e0ffe&application_id=1145564&site_id=vwd&application_name=news 
 

(END) Dow Jones Newswires

November 05, 2020 01:30 ET (06:30 GMT)

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© 2020 Dow Jones News
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