The Societe Generale subsidiary saw the size of its global fleet increase by 8% at the end of September 2019 over a rolling year. The acquisition of Sternlease and the rise of the LLD to individual are two elements behind this growth.
ALD continues to grow. The long-term renter, which has just published its results for the third quarter of 2019, announces to be at the head of a global fleet of 1.73 million vehicles. Record volume up 6.7% at the end of September 2019 compared to the end of September 2018. Over a rolling year, this increase is 8%.
“The ALD fleet has grown at a steady pace in all regions, with growth in the consumer segment continuing, driven by expansion of our network of partners and state-of-the-art digital tools. significant commercial achievements, as well as the launch of several new products, contributing to the growth of the margin “, analyzes Mike Masterson , the CEO of ALD.
The renter has indeed been able to rely on a strong endemic growth in the business market, but also that of individuals. In this last segment, it now manages 145,000 contracts, a total up 39% at the end of September. Its objective of 150,000 contracts at the end of the year should be reached without difficulty. ALD also emphasizes that the acquisition of Sternlease in the Netherlands in the first half, a renter with a fleet of 13,000 vehicles, contributed to the group’s dynamic.
Net income up
This growth in the fleet is reflected in financial terms by an increase in gross operating income (€ 1,028.8 million, + 2.4%) and net income, which amounted to € 426.8 million. euros at the end of September 2019, compared to 415.4 million euros at the end of September 2018. Another positive ratio: the margin on leases and services rose by 4.8% to 964.3 million euros. ” This performance was achieved despite continued pressure on margin growth in the context of repricing residual values of diesel, ” says the renter.
The resale of vehicles is indeed one of the sensitive points of the activity of the renter. In the third quarter of 2019, ALD realized a margin of 285 euros per vehicle sold, against 346 euros in the second quarter. Over the year as a whole, this margin amounts to 295 euros. More than 74,000 vehicles were resold in the third quarter, 60% of which were sold via electronic platforms, for a profit of 21.1 million euros.
