Aldermore Share Discussion Threads

[grupo guitarlumber] 23/11/2024 10:40

SocGen Leasing Arm Ayvens Said to Draw Blackstone Interest

By Aaron Kirchfeld, Dinesh Nair, and Pamela Barbaglia

November 07, 2024 at 11:41AM EST



(Bloomberg) -- Ayvens SA, the French car-leasing business controlled by Societe Generale SA, is attracting takeover interest from investment firms including Blackstone Inc. after a slump in its shares, according to people familiar with the matter.

Brookfield Asset Management and CVC Capital Partners Plc have also been studying a potential deal for the company, the people said, asking not to be identified as the information is private. Ayvens may also attract interest from industry players such as Japan’s JA Mitsui Leasing Ltd., said the people.

Shares of Ayvens jumped as much as 8.7% in Paris trading Thursday, hitting the highest intraday level in more than five months. They were up 4.4% at 5:13 p.m. in Paris, giving the company a market value of €5.8 billion ($6.2 billion). Ayvens has fallen by nearly half from its recent peak in early 2023.

Ayvens, formerly known as ALD SA, was considered a priority for Societe Generale under the bank’s previous chief executive officer Frederic Oudea. Since Slawomir Krupa took over leadership of Societe Generale last year, he’s been looking to simplify the lender and has offloaded some smaller non-core operations.

Societe Generale has about a 53% stake in Ayvens, according to data compiled by Bloomberg. A suitor may seek to team up with the French lender to take the company private, some of the people said. Deliberations are ongoing, and there’s no certainty the potential bidders will decide to proceed with a deal. Representatives for Ayvens, Blackstone, Brookfield, CVC, JA Mitsui Leasing and Societe Generale declined to comment.

Ayvens has been a drag on Societe Generale’s results recently. Last year, the leasing firm had to give up a key financial target largely because it was blindsided by cost overruns from an IT overhaul at Leaseplan, an Amsterdam-based competitor it had bought. Ayvens also took a hit on the mark-to-market value of its hedging portfolio on leasing contracts, and a weak second-hand market has hurt the residual value of the electric vehicles on its books.

Paris-listed Ayvens provides full-service leasing for new vehicles to customers for a typical contract duration of three to four years. In July, it agreed to provide leasing services to BYD Co. that will help the Chinese electric-car maker expand in the European corporate market. The French company operates in 42 countries with a total fleet of 3.4 million vehicles, according to its website.

--With assistance from Manuel Baigorri, Hideki Suzuki, Vinicy Chan, Jan-Henrik Förster and Swetha Gopinath.

(Updates with share movement in third paragraph, background on business from fourth paragraph.)

Bloomberg L.P.

[gibbs1] 16/11/2024 08:22

Ayvens SA
6.32 EUR −0.23 (3.51%)

Nov 15, 17:37 GMT+1

[misca2] 11/11/2024 19:56

7.32 EUR +0.075 (1.04%)

Nov 11, 17:37 GMT+1

[the grumpy old men] 10/11/2024 17:22

Ayvens SA


7.24 EUR +0.24 (3.43%)

Nov 8, 17:38 GMT+1

[florenceorbis] 08/11/2024 02:29

Grupo GuitarLumber
7 Nov '24 - 19:47 - 230 of 230
0 1 0
December 2023). Net asset value per share (NAV) was EUR 12.34 and net tangible asset value per share(NTAV) was EUR 8.99 as at 30 June 2024, compared to EUR 12.28 and EUR 8.95 respectively as at 31December 2023.

$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$


Interesting scenario when one compares current enhanced share price of 7 euros with a possible NTAV nearing 9 euros

[grupo guitarlumber] 07/11/2024 19:47

December 2023). Net asset value per share (NAV) was EUR 12.34 and net tangible asset value per share(NTAV) was EUR 8.99 as at 30 June 2024, compared to EUR 12.28 and EUR 8.95 respectively as at 31December 2023.





Total balance sheet increased to EUR 72.8 billion as at 30 June 2024 from EUR 70.3 billion as at 31 December 2023, mainly on the back of the increase in earning assets andcash balances.


Earning assets increased to EUR 53.2 billion as at 30 June 2024, from EUR 52.1 billion as at 31 December 2024.

The increase was 9.5% year-on-year on a like-for-like basis, primarily driven by inflation on car prices and the transition to EVs, which have a higher value than ICE cars.

Financial debt20 stood at EUR 39.5 billion at the end of June 2024 (vs. EUR 37.6 billion at the end of December 2023), while deposits reached EUR 13.1 billion compared to EUR 11.8 billion at the end ofDecember 2023.

31% of the financial debt consisted of loans from Societe Generale as at end June 2024

[grupo guitarlumber] 07/11/2024 19:33

Ayvens SA

7.00 EUR +0.25 (3.70%)


Nov 7, 17:36 GMT+1

[grupo guitarlumber] 07/11/2024 19:24

SocGen Leasing Arm Ayvens Said to Draw Blackstone Interest


Aaron Kirchfeld, Dinesh Nair and Pamela Barbaglia


Thu, 7 November 2024 at 5:41 pm CET 2 min read




(Bloomberg) -- Ayvens SA, the French car-leasing business controlled by Societe Generale SA, is attracting takeover interest from investment firms including Blackstone Inc. after a slump in its shares, according to people familiar with the matter.



Brookfield Asset Management and CVC Capital Partners Plc have also been studying a potential deal for the company, the people said, asking not to be identified as the information is private. Ayvens may also attract interest from industry players such as Japan’s JA Mitsui Leasing Ltd., said the people.

Shares of Ayvens jumped as much as 8.7% in Paris trading Thursday, hitting the highest intraday level in more than five months. They were up 4.4% at 5:13 p.m. in Paris, giving the company a market value of €5.8 billion ($6.2 billion). Ayvens has fallen by nearly half from its recent peak in early 2023.

Ayvens, formerly known as ALD SA, was considered a priority for Societe Generale under the bank’s previous chief executive officer Frederic Oudea. Since Slawomir Krupa took over leadership of Societe Generale last year, he’s been looking to simplify the lender and has offloaded some smaller non-core operations.

Societe Generale has about a 53% stake in Ayvens, according to data compiled by Bloomberg. A suitor may seek to team up with the French lender to take the company private, some of the people said. Deliberations are ongoing, and there’s no certainty the potential bidders will decide to proceed with a deal. Representatives for Ayvens, Blackstone, Brookfield, CVC, JA Mitsui Leasing and Societe Generale declined to comment.

Ayvens has been a drag on Societe Generale’s results recently. Last year, the leasing firm had to give up a key financial target largely because it was blindsided by cost overruns from an IT overhaul at Leaseplan, an Amsterdam-based competitor it had bought. Ayvens also took a hit on the mark-to-market value of its hedging portfolio on leasing contracts, and a weak second-hand market has hurt the residual value of the electric vehicles on its books.

Paris-listed Ayvens provides full-service leasing for new vehicles to customers for a typical contract duration of three to four years. In July, it agreed to provide leasing services to BYD Co. that will help the Chinese electric-car maker expand in the European corporate market. The French company operates in 42 countries with a total fleet of 3.4 million vehicles, according to its website.

--With assistance from Manuel Baigorri, Hideki Suzuki, Vinicy Chan, Jan-Henrik Förster and Swetha Gopinath.

(Updates with share movement in third paragraph, background on business from fourth paragraph.)

Bloomberg L.P.

[grupo] 06/11/2024 18:24

Ayvens SA

6.75 EUR +0.22 (3.37%)

Nov 6, 17:37 GMT+1

[la forge] 06/11/2024 12:44

Ayvens SA

6.62 EUR +0.085 (1.30%)

Nov 6, 13:22 GMT+1

Some pencil in an eventual share price of 9.50 euros


i might settle for 7.50 euros

[florenceorbis] 02/11/2024 21:25

Latest Dividends

Summary Previous dividend Next dividend

Status Paid Forecast

Type Final Final

Per share 47¢ PERHAPS NO MORE THAN 47c

Declaration date 09 Feb 2024 (Fri) 07 Feb 2025 (Fri)

Ex-div date 31 May 2024 (Fri) 30 May 2025 (Fri)

Pay date 04 Jun 2024 (Tue) 03 Jun 2025 (Tue)

[waldron] 31/10/2024 09:27

Dodge maker Stellantis posts 27% drop in revenues, flags progress in slashing U.S. inventories

Published Thu, Oct 31 20243:32 AM EDTUpdated 48 Min Ago


Matt Clinch
Sam Meredith
@in/samuelmeredith
@smeredith19


Key Points

The carmaker attributed its net revenue drop primarily to "lower shipments and unfavorable mix as well as pricing and foreign exchange impacts."

Milan-listed shares of Stellantis have tumbled more than 42% year-to-date.



Auto giant Stellantis on Thursday reported a 27% decline in third-quarter net revenues, but said it was making headway in addressing operational issues such as U.S. inventories.

The Netherlands-based company, which owns household names including Jeep, Dodge, Fiat, Chrysler and Peugeot, said that net revenues for the July-September period came in at 33 billion euros ($35.8 billion). Analysts had expected third-quarter net revenues to come in at 36.6 billion euros, according to an LSEG-compiled consensus.

The firm attributed the drop primarily to "lower shipments and unfavorable mix as well as pricing and foreign exchange impacts."

It said it was on tack to deliver approximately 20 new models this year, adding that it was making good progress on slashing bloated inventories, especially in the U.S.

Its total stocks fell by 129,000 units between January and September to 1.3 million. The automaker noted that the U.S. dealer inventory was cut by 80,000 units between June 30 and Wednesday. Stellantis said it is set to reach its target of slimming down the U.S. stocks by 100,000 units by the end of November.

Doug Ostermann, chief financial officer at Stellantis, conceded that the quarterly performance was "below our potential," but said that U.S. inventories had been "reduced meaningfully" and were set to hit the company's targets.

"In Europe, stringent quality requirements delayed the start of certain high-volume products, but with progress resolving challenges we will soon benefit from the significantly expanded reach our generational new product wave brings to 2025 and beyond," he said in a statement Thursday.

The trans-Atlantic automaker issued a profit warning in late September, trimming its annual guidance on the back of deteriorating "global industry dynamics" and a push to expand remediation actions on North American performance issues.


Milan-listed shares of Stellantis, which have shed more than 42% year-to-date, ticked up 1% on Thursday morning. Jefferies analysts flagged that the automaker's net revenue for Europe were a 14% beat compared to expectations.

American car brands Jeep, Ram, Dodge and Chrysler have been struggling under their European owner. Out of all brands in the U.S., Stellantis has some of the highest inventories of vehicles on dealer lots, according to Cox Automotive — suggesting less consumer demand for the products.

Stellantis is currently suing the United Auto Workers over strike threats, escalating a long battle between the automaker and the American union, according to CNBC reporting.

Like many in the auto industry, Stellantis has been contending with a perfect storm of challenges on the road to full electrification, including faltering global demand for electric vehicles (EVs) and competition from China.

The pressure on European automakers is poised to ratchet up even further next year, when emissions-reduction targets come into force. Against this backdrop, car manufacturers have recently launched an array of low-cost EV models, acutely aware of the need to boost sales.

—CNBC's Robert Ferris contributed to this article.

[waldron] 16/10/2024 15:23

AGENDA

31 October 2024: Q3 and 9M 2024 results

[adrian j boris] 04/10/2024 10:01

Ayvens leasing brand launches in UK

Sean Keywood October 3, 2024

Leasing brand Ayvens, established following last year’s acquisition of Leaseplan by ALD Automotive, has launched in the UK today (3 October).

The move has seen Ayvens become the trading name of Leaseplan UK, with ALD Automotive UK set to follow suit in due course.

The launch, which follows on from the global introduction of the Ayvens brand in October 2023, is said to form an important part of the phased integration of the two legacy businesses in the UK, and the wider group’s long-term strategy.

Ayvens says it will seek to provide UK corporates, SMEs and private individuals with more sustainable mobility solutions, including an end-to-end leasing service for cars and commercial vehicles, a suite of fleet management solutions, and a UK-wide salary sacrifice car scheme.

Tim Laver, managing director of Ayvens in the UK (subject to regulatory approval), said: “UK businesses are facing an increasingly complex and highly regulated transport landscape right now, which requires them to re-examine their fleet strategies in order to cut costs and carbon emissions.

“Our scale, sector expertise and insights from our team can not only help our customers to navigate these challenges, but turn them into opportunities for a greener, smarter and more cost-effective operating model.

“The launch of our new brand Ayvens in the UK marks an exciting chapter in our Group’s journey and for fleets across the UK. As a leading player in the mobility sector, we will leverage our position to shape the future of mobility and unlock new possibilities for our customers.”

[waldron] 01/10/2024 19:36

Kepler Cheuvreux starts Ayvens SA stock at Buy, citing undervaluation and market leadership

Editor
Ahmed Abdulazez Abdulkadir


Published 09/26/2024, 12:26 PM

0
AYV
-


On Thursday, Kepler Cheuvreux initiated coverage on Ayvens SA (ALD:FP), a leading multi-brand global mobility services provider, with a Buy rating and a price target of EUR9.50. The firm highlighted Ayvens' strong market position, managing a fleet of 3.4 million cars, 80% of which are owned and leased to a diverse clientele.

The company's stock is currently trading at a significant discount compared to its peers. This is attributed to challenges following a merger between ALD and LeasePlan, as well as depreciating residual values in the battery electric vehicle (BEV) sector. Kepler Cheuvreux believes these risks are now reflected in the stock's price and well understood by the market.

Ayvens SA's leadership in a low-risk and profitable sector is notable, despite the obstacles it has faced. The company leases its substantial fleet to both corporate and individual clients, ensuring a broad base of revenue. The analyst from Kepler Cheuvreux expressed confidence in Ayvens' ability to navigate past its initial post-merger difficulties.

The price target of EUR9.50 set by Kepler Cheuvreux suggests a potential upside for investors. This target is based on the firm's assessment of Ayvens' valuation in relation to industry peers and the perceived mitigation of earlier risks.

In conclusion, Kepler Cheuvreux's initiation of coverage on Ayvens SA with a Buy rating reflects their positive outlook on the company's future performance. The firm anticipates that Ayvens' stock will recover from its current undervaluation as it overcomes merger-related challenges and adapts to market conditions in the BEV space.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

[waldron] 26/9/2024 12:09

Ayvens SA

6.32 EUR +0.41 (6.94%)


Sep 26, 13:47 GMT+2

[waldron] 26/9/2024 11:31

Inspiring Woman in Fleet: Virginie Pochat (Ayvens)


Virginie Pochat – Head of Business Intelligence & Consultancy (Ayvens)

At the start of her career, Virginie Pochat worked in the helicopter industry. In Mexico. “The environment was 100% male, but I never let that stop me finding my own way”, she says. That drive and determination has carried Virginie to where she is today. That’s because her motivation has remained the same: “I’m passionate about mobility.”

Virginie has had a continent-spanning career. After the Mexican chapter, she moved to France, where she eventually joined ALD Automotive as Key Account Manager. Following a two-year professional stint in Chicago, she returned to ALD as Senior International Consultant. In June of this year, she was appointed Head of Business Intelligence & Consultancy at Ayvens, the merger of ALD and LeasePlan. In recognition of her wide experience, Virginie was asked to join this year’s jury for the Fleet Europe Awards.

You’ve come far since those helicoptering days! Was it challenging to be the rare woman in an almost exclusively male environment?

“One of the main challenges is that you’re not taken seriously, because you are a woman. The way to overcome that is through hard work: to learn all there is to know about your job. What also helped me a lot was my ability to take a different point of view, to think out of the box. And once you have results, you have an accelerator for your career.”

“Two examples: When I was still in aeronautics, my take on fleet management was to be motivational, to listen to people and help solve their problems. That produced such good results that they gave me a patch with wings, like pilots get. I was super honoured, and I still cherish those wings.”

“Another example: two years after returning to ALD, I was awarded the title of best key account manager. That’s because I created a particular kind of relationship with my clients, where you’re interested in the personal aspect, and where you also share a bit about yourself. And that works, as my results proved.”
Has the gender balance changed since you started your career? And if so, does that have an effect?

When I came back to ALD three years ago, I really wanted the job, but I was six months pregnant. The manager who hired me despite that fact was a woman. She said ‘congratulations’ instead of ‘no thanks’. Had that been a man, perhaps the reaction would have been different. This was the first time in my then more than ten year-long career that I had a woman as manager, by the way.”

“On the work floor, there are certainly more women than before. But on the other hand, I don’t find gender is an issue. I find that both men and women can be equally passionate and knowledgeable about any topic. When they speak, I listen to what they have to say, not to who says it.”

“That may have to do with my own upbringing. I’ve lived all over the world – Singapore, Vietnam, Mexico, Chicago – which meant that I often was the different one. From that personal experience, I don’t focus on what makes people different from others, but on the point they’re making.”

If you had to advise a CEO on how to make their workplace more diverse and inclusive, what you you say?

“That’s a very difficult question – and I’m happy I’m not that CEO! Because there’s an inherent difference between selecting for diversity, and selecting for talent. The best way forward is to educate our young people not to be afraid to choose a professional career. That will automatically diversify the in-flow of talent.”

“And in the fleet and mobility industry, these young people don’t have to fit to the old stereotype of the petrol-head. We’re not just about cars anymore. You can also be passionate about the many other ways there are to get from A to B.”

What are some of the tips and tricks you can share from your experience with young people starting out in this business?

“Keep learning about the business you’re in. That’s how you stay ahead, and how you can continue to innovate. Be passionate, that’s how you motivate people to go along on your journey. And don’t be afraid to be different. It can be good to stand out.”

Say we offer you a time machine to go back to the start of your own career. What would your advice be to your younger self?

“Trust yourself, you’re going to make it! I would say that because looking back, there were times when I saw barriers where there perhaps weren’t any. I would also say that networks are powerful, and that it’s important to get a mentor. Take them out for lunch and get the benefit of their experience and advice! In general, get inspired by other people, and reach out to them: people generally do want to help!”

In your career so far, what would you say are your greatest achievements?

“One of the things I’m really passionate about, is our net-zero programme, and I’m really proud of how far we’ve come in developing and implementing it. That is of course a team effort. I’d like to think that I create space within our team to formulate ideas that may be a bit out of the box.”

“Implementing our net-zero programme is also a result of the good relations that I’m able to maintain, not just with our clients, but also with our internal stakeholders.”

And do your achievement get rewarded?

“I’ve received several awards in my career – for best salesperson, best fleet manager together with a client during an innovation challenge, and for our net-zero programme, although, as I mentioned, that is a team effort. And that’s great. My idea of good work is being able to move things forward, and that often happens in a team. So I’m very happy to be part of a well-functioning team.”

Professional women often have a tough time combining work roles with private ones. Society often still expects more from them in this respect than from men. Is that also part of your experience?

“That’s one of the hardest things: trying to find the right balance between work and home. I’m lucky that I have a husband with a great career of his own, who’s willing to work through these issues with me.”

“Nevertheless, things aren’t always easy. An example from a few days ago, when I took my littlest child to school for the first time, and my other one to primary school. When I dropped them off at the school gate, I realized I had forgotten their snack! Instead of feeling terrible about things like that, you have to be kind on yourself. Fortunately, my kids understood, and said not to worry.”

Finally, two questions about where you get your inspiration from. Who is your hero? And what is your motto?

“I don’t have a specific hero that I look up to, but I love being inspired by the people around me. I admire how they step up, take their responsibility, and manage to move things forward. And that goes for both men and women, by the way.”

“I do have a motto that I try to live by. It’s from an educational book for children: ‘Think big, feel good, and act brave’. That’s good advice, and not just for kids (laughs).”

Authored by: Frank Jacobs

[grupo] 19/9/2024 17:48

ALD Automotive and LeasePlan will operate in Romania under new name Ayvens

Aurel Constantin 16/09/2024 | 14:35



ALD Automotive abd LeasePlan launches in Romania, Ayvens, its new global mobility brand, uniting the two companies together under a single common identity. The launch of the new mobility brand in Romania follows the global acquisition of LeasePlan by ALD Automotive, effected in May 2023. Romania is the 24th country out of a total of 42 countries in which the new brand replaces ALD Automotive and LeasePlan brands.



“With the arrival of Ayvens, ALD Automotive and LeasePlan brands will no longer exist and will become a beautiful memory. We continue as Ayvens, and together with our customers and partners, we are making mobility greener, more flexible and ultimately effortless every time. We are driven by the slogan ‘Better with every move’ and with Ayvens our customers choose a reliable mobility advisor and a trendsetter in the market. Thanks to our size, coverage, service expertise and commitment to innovation, our company is ready to lead the way towards digital transformation, net zero and the large scale adoption of sustainable mobility”, said Shane Dowling, Country Managing Director Ayvens in Romania.

ALD Automotive Romania, founded in 2005, together with LeasePlan Romania, founded in 2007, have constantly adapted to the market needs and succeeded to create a solid community of clients, building on a strong foundation of quality and innovativeness. All actions and initiatives of the two companies so far, for almost 18 years, have contributed to the development of the operational leasing sector in Romania.

By bringing together complementary capabilities and expertise, the company saw an opportunity to reimagine mobility going forward for the better. This new brand feeds that common purpose by defining the company’s unique position in the market and highlighting what makes it different and the value it brings to customers across all segments. Its new brand promise is to make life flow better by delivering mobility that is simpler, smarter and sustainable.

“The world of mobility is changing rapidly, driven by the increasing demand for flexible and convenient transport solutions and this approach, geared towards flexibility and quick response in critical situations, I believe will define companies’ business strategies in the years to come. The joining of two world mobility leaders opens up the possibility of even stronger growth for us in the local market as well. With the new brand, we continue to build for the future, alongside all our colleagues at Ayvens. I am extremely proud of how we successfully brought together colleagues from two different companies over the past year, of their professionalism, dedication, expertise and complementary capabilities which will give us the opportunity to reimagine mobility to better meet the challenges of the future,” added Shane Dowling, Country Managing Director Ayvens in Romania.




Ayvens is a memorable, simple yet statutory name which indicates the way forward for progress. It is accompanied by a symbol which represents the legacy companies coming together as one team, working towards a common goal, with a strong, stable foundation at its base and an upwards fluid form symbolizing progress and dynamism.

The name is solidly endorsed by its globally renowned majority shareholder, Societe Generale.

A new brand tagline

Better with every move captures the company’s underlining mission to deliver “better” mobility through continuous progress for customers, for businesses and for the planet.

ALD Automotive | LeasePlan Romania are part of Ayvens group, a leading global sustainable mobility player committed to making life flow better.

Ayvens is a leading global sustainable mobility player committed to making life flow better. We’ve been improving mobility for decades, providing full-service leasing, flexible subscription services, fleet management and multi-mobility solutions to large international corporates, SMEs, professionals and private individuals. With more than 14,500 employees across 42 countries, 3.4 million vehicles and the world’s largest multi-brand EV fleet, we are in a unique position to lead the way to net zero and spearhead the digital transformation of the mobility sector. The company is listed on Compartment A of Euronext Paris (ISIN: FR0013258662; Ticker: AYV). Societe Generale Group is Ayvens majority shareholder.

[sarkasm] 13/9/2024 08:51

Ayvens SA

6.14 EUR +0.085 (1.40%)

Sep 13, 10:26 GMT+2

6.14 EUR ‎10:26

Open
6.06

High
6.15

Low
6.06

Mkt cap
5.02B

P/E ratio
-

Div yield
-

CDP score
B

52-wk high
10.04

52-wk low
5.11