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    ALD   FR0013258662

ALD

(ALD)
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ALD : reports first half 2021 results

08/03/2021 | 06:12am EDT
  • NET INCOME (GROUP SHARE) UP 70% AT EUR 352.0 MILLION
  • OUTSTANDING REMARKETING PERFORMANCE, UCS RESULT PER UNIT AT EUR 740
  • TOTAL CONTRACTS [1] STABLE AT 1.76 MILLION
  • 26% EV DELIVERIES IN EUROPE [2]
  • COST INCOME (EXCL UCS RESULT) RATIO AT 49.1%

H1 2021 Results highlights

  • Leasing Contract and Services Margins at EUR 671.6 million
  • Used Car Sales result at EUR 125.3 million
  • Cost of Risk at 16 bps [3] vs. 46bps in H1 2020
  • Total Equity/Asset ratio at 16.7%, up from 15.6% at end June 2020

New Guidance for 2021

  • Funded fleet [4] to grow between 1% and 3% vs. 2020
  • Used Car Sales result per vehicle to be between EUR 600 and EUR 900
  • Improvement in Cost/Income (excluding Used Car Sales result) ratio vs. 2020

On 3 August 2021, Tim Albertsen, ALD CEO, commenting on the H1 2021 Group Results, stated:

'During the second quarter, optimism has come back at several levels, with many countries starting to see the beginning of the exit of the COVID crisis. Although the level of uncertainty remains high, the hard part seems to be behind us. The shortage of semiconductors has impacted multiple aspects of our activity, making the delivery delays of new cars longer, but also influencing positively price levels on used car markets. Although this is not yet visible in the evolution of our Total Contracts, commercial dynamics were good, and the order bank is strong. We are proud to see a breakthrough in vehicle electrification, with our share of EV deliveries increasing at a fast pace. H1 2021 was a strong semester for ALD in terms of financial performance. Remarketing results in particular, were outstanding. In line with our Move 2025 strategic plan to become a fully integrated sustainable mobility provider and the global leader in our industry, ALD is working hard at developing its offer to employees and we saw two important milestones this quarter: the first start-up participation in a MaaS app called skipr, and the cooperation with Corporate Benefits. Overall, we feel we now have sufficient visibility to issue a guidance for 2021.'

[1] Total Contracts: full service lease contracts, fleet management contracts, and new mobility solutions contracts

[2] Management Information, calculated as a % of deliveries of Passenger cars (ALD funded fleet)

EV: BEV + PHEV

Europe includes EU + UK + Norway + Switzerland

[3] Annualised Cost of Risk as a % of Average Earning Assets

[4] Full Service Lease contracts including ALD Flex and Used Car Lease

Read the PR

Disclaimer

ALD International SA published this content on 03 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 August 2021 09:55:04 UTC.


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Financials
Sales 2021 10 762 M 12 478 M 12 478 M
Net income 2021 689 M 799 M 799 M
Net Debt 2021 17 982 M 20 850 M 20 850 M
P/E ratio 2021 7,45x
Yield 2021 6,51%
Capitalization 5 071 M 5 879 M 5 880 M
EV / Sales 2021 2,14x
EV / Sales 2022 2,26x
Nbr of Employees 6 361
Free-Float 19,9%
Chart ALD
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ALD Technical Analysis Chart | ALD | FR0013258662 | MarketScreener
Technical analysis trends ALD
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TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 7
Last Close Price 12,58 €
Average target price 15,43 €
Spread / Average Target 22,6%
EPS Revisions
Managers and Directors
Tim Torben Albertsen Chief Executive Officer & Director
Gilles Momper Chief Financial Officer
Diony Lebot Chairman
Hans van Beeck Chief Administrative Officer
Xavier Pascal Durand Independent Director
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