Ayvens reported a fall in income for the second quarter of 2026, despite claiming strong financial performance. The leasing giant recorded a net income group share of €248 million, marking an 8.7% year-on-year decline.
Contributing to this drop was a net used car sales result of negative €8 million. That figure stood at €143 million in the same period the previous year. The company attributes this to a tough environment for used vehicles.
Despite the income decline, Ayvens highlighted strong operating performance. Leasing and services margins reached €762 million, which is a 7% increase compared to the prior year. Underlying margins were even higher, sitting at €800 million, up by 9.5%.
Used car market challenges
The company stated that the used car market remains tough. However, it emphasized that its focus on margins and efficiency helped mitigate the impact of normalization in used car sales. This resilience is notable given the moving environment.
CEO Philippe de Rovira praised the results. He said the group has continued to deliver on its strategic and financial roadmap. This resilience is notable given the moving environment.
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Rovira also announced a €700 million exceptional distribution. This, alongside a €450 million share buyback and a cash dividend of €0.32 per share, reinforces the commitment to shareholders. The dividend payment is set for September 10.
Efficiency measures and fleet changes
Ayvens has achieved cost synergies of €112 million for the quarter. This is an increase from the €86 million recorded in Q2 2025. The company believes these savings put it on track to meet its €440 million target for 2026 under the PowerUp 2026 strategy.
The group’s return on tangible equity stood at 13.4% for Q2, slightly down from 13.7% last year. However, the first-half figure of 14.1% represents a 1.7% year-on-year increase. This metric remains high despite the broader industry headwinds.
The simultaneous drop in fleet size alongside rising margins suggests a fundamental shift in how the company operates. By trimming vehicle numbers and focusing on profitability, Ayvens is likely accepting lower top-line revenue to secure healthier bottom-line returns in a volatile market. This strategy prioritizes long-term sustainability over short-term growth in a sector facing significant normalization.
Fleet size has decreased to 3.054 million vehicles. This total is down 4.7% year-on-year and 0.8% compared to the previous quarter. The reduction reflects a portfolio review focused on profitability. Full service leasing contracts dropped 0.7% to 2.475 million. Fleet management contracts fell 0.8% to 579,000 during the same period.
