Ayvens posts third-quarter net income of €240 million, down 11.9% year on year
Key Facts
Ayvens reported third-quarter results on October 29, posting net income attributable to group shareholders of €240 million, down 11.9% from the same period in 2025. The company said it remained on track to meet its PowerUP 2026 targets despite volatility in the used-car market. The results showed a divide between growth in core margins and improved efficiency on one hand, and lower profitability and used-car sales losses on the other. Return on tangible equity was 13.2%, compared with 14.3% in the third quarter of 2025. The company cited its focus on profitable business and cost reductions as factors that helped limit the impact of pressures.
Core margins reached €817 million, up 4.6% year on year, and represented 620 basis points of average earning assets, compared with 593 basis points a year earlier. By contrast, the leasing and services margin fell to €761 million, down 2.0% from the corresponding quarter of 2025. The divergence highlights differences in the performance of revenue sources in the quarter, as core margins rose while the leasing and services margin contracted. On efficiency, the cost-to-income ratio declined to 49.2%, from 52.8% in the third quarter of last year. Ayvens said the new ratio was in line with its guidance.
Used-car sales were a key source of pressure, recording a net loss of €21 million in the third quarter, after a profit of €75 million in the corresponding period of 2025. Gross result per unit was €118 during the quarter and €313 in the first nine months of 2026, which the company said was in line with its guidance. Chief Executive Philippe de Rovira attributed the sharper decline in sales results to the impact of higher oil prices. He said, "Our strong focus on profitable business and cost reductions helped mitigate the decline in used-car sales results, which was exacerbated by the impact of higher oil prices." The statement places oil-price pressure alongside cost-cutting efforts in explaining the unit's performance.
Synergy savings amounted to €116 million in the third quarter, compared with €104 million a year earlier. Savings reached €338 million in the first nine months of 2026, versus €251 million in the same period of 2025. The increase in savings came alongside an improvement in the cost-to-income ratio, which fell 3.6 percentage points year on year to 49.2%. In terms of business volume, earning assets stood at €52.8 billion at the end of September 2026, up 0.3% from the end of September 2025. The Common Equity Tier 1 (CET1) ratio was 12.8% at the end of September.
Ayvens says it is positioned to meet its 2026 financial targets and prepare to begin implementing its Ayvens 2029 strategic plan. The company's reaffirmation that it is on track for its 2026 targets follows a quarter combining growth in core margins and synergies with lower net income and a loss in used-car sales. The disclosure does not announce a change to the financial targets, but reaffirms the previously stated path. The company is scheduled to report fourth-quarter 2026 results on February 4, 2027. That is the next announced date for an investor update on the group's performance.
In available market data, Ayvens shares closed at €8.80 on October 28, 2026, one day before the third-quarter results were published. The available data does not include a closing price for October 29 or the stock's trading range that day. The cited closing figure therefore remains a reference for the session before the announcement and on its own does not show the share's response to the published results. The available data also does not identify a price movement during the announcement session that can be linked to the financial figures. The disclosure presents the company's results and guidance, while the October 28 close remains the latest price documented here.