Ayvens

Latest Results (03.04.2026):

Ayvens — Q4 2025 (and full‑year 2025) results show a strong operational and financial recovery: FY 2025 net income group share was EUR 996 million (+45.7% vs. 2024) and Q4 2025 net income was EUR 232 million (+45.2% vs. Q4 2024). Key drivers include higher leasing & services margins, improved underlying margins and ROTE, stronger net used car sales results, lower cost‑to‑income, and a proposed cash distribution.

Profit and net income

Full‑year 2025 net income group share: EUR 996 million (+45.7% vs. 2024). Q4 2025 net income group share: EUR 232 million (+45.2% vs. Q4 2024).

Margins and returns

Leasing & services margins: FY 2025 at EUR 2,944 million (+9.1% vs. 2024); Q4 2025 at EUR 747 million (+10.7% vs. Q4 2024). Underlying margins: FY 565 bps vs. 532 bps in 2024; Q4 567 bps vs. 541 bps in Q4 2024. ROTE: FY 12.9% (vs. 8.6% in 2024); Q4 12.3% (vs. 7.8% in Q4 2024).

Net used‑car sales (UCS)

FY UCS result: EUR 411 million (+29.6% vs. 2024); UCS result per unit EUR 1,075 (at the high end of guidance). Q4 UCS result: EUR 83 million (2.2x Q4 2024).

Efficiency and synergies

Cost‑to‑income ratio: FY 56.1% (down 7.1 points from 63.2% in 2024 and better than guidance); Q4 56.2% (down 4 points vs. Q4 2024). Reported synergies: EUR 357 million, in line with guidance.

Balance sheet and capital

Earning assets: EUR 53.0 billion (down 1.0% vs. 2024). CET1 ratio: 13.2% at end‑2025. Total proposed distribution for 2025: EUR 1,150 million (subject to AGM approval).

Other

Audit procedures on the consolidated annual financial statements are in progress; the FY 2025 figures were approved by the Board on 5 February 2026 under IFRS as adopted in the EU.