Allane Mobility Group Increases Contract Portfolio and Operating Revenue in H1 2024

Allane Mobility Group, a specialist in vehicle leasing and full-service solutions in Germany, reported significant growth in the first half of 2024. Consolidated operating revenue surged by 37.0% to EUR 214.5 million. The Group's contract portfolio grew to 133,800 contracts, a 6.0% increase since the end of 2023 and a 14.9% rise from June 30, 2023.

Eckart Klumpp, CEO of Allane SE, stated the growth was primarily driven by an expanding contract portfolio. Despite this, increased risk provisioning, particularly for electric vehicles, negatively impacted earnings in the first half of the year.

Total consolidated revenue rose by 17.6% to EUR 359.5 million, though sales revenue fell by 2.8% due to declining used vehicle prices. EBITDA improved by 49.8% to EUR 147.7 million, but higher risk and refinancing costs affected pre-tax earnings, which fell to EUR -24.6 million.

The EBT forecast for 2024 has been adjusted due to expected market developments and increased provisioning needs. The Management Board now anticipates a consolidated EBT of between EUR -25 million and EUR -35 million for the year.