EQS-News: Allane SE
/ Key word(s): Quarterly / Interim Statement/Quarter Results
Allane Mobility Group: Significant improvement in earnings in the first nine months of 2022
Pullach, 09 November 2022 – The Allane Mobility Group (“Allane”), a leading provider in online direct sales of new vehicles in Germany as well as specialist in the management and full-service leasing of large fleets, recorded a slight decrease in consolidated revenue and a significant increase in earnings before taxes (EBT) in the first nine months of 2022. The Group's contract portfolio decreased compared with the prior-year figure and amounted to 118,200 contracts as of September 30, 2022.
Donglim Shin, CEO of Allane SE: “Although our contract portfolio declined further in the third quarter, we are benefiting from the positive development in the used car market thanks to our diversified business model. As a result, we significantly increased our earnings in the first nine months. We expect that demand and price levels in the used car market will remain high until the end of the year and that we will remain able to sell lease returns at high margins.“
Consolidated revenue in the first nine months of 2022 fell slightly by 2.0 per cent to EUR 554.6 million (9M 2021: EUR 565.8 million) compared to the same period of the previous year. This development is mainly due to the supply bottlenecks for new cars and the resulting decline in contracts. Consolidated operating revenue, which does not include revenue from vehicle sales, increased by 0.1 per cent to 291.7 million euros (9M 2021: 291.5 million euros) and thus remained at the level of the previous year. Sales revenue from the sale of lease returns and the marketing of customer vehicles from fleet management decreased by 4.2 per cent to 263.0 million euros (9M 2021: 274.4 million euros). This development mainly results from a decline in sales volume despite continuing high demand and rising unit prices for used cars.
Consolidated earnings before interest, taxes, depreciation and amortisation (EBITDA) decreased by 2.1 per cent to EUR 139.4 million in the first nine months of 2022 (9M 2021: EUR 142.3 million). By contrast, earnings before taxes (EBT) increased significantly by 137.3 per cent to EUR 11.0 million (9M 2021: EUR 4.6 million). The operating return on revenue (EBT/consolidated operating revenue) therefore also improved significantly to 3.8 per cent (9M 2021: 1.6 per cent). The increased EBT in the first three quarters is mainly due to the high price level on the used car market and the resulting high margin on the sale of lease returns, lower depreciation on leased assets and an improvement in the financial result.
Consistent implementation of the new "FAST LANE 27" growth strategy
About Allane Mobility Group:
Private and commercial customers use the online platforms sixt-neuwagen.de and autohaus24.de to lease new vehicles affordably. Corporate customers benefit from the cost-saving leasing of their vehicle fleet and from efficient fleet management.
Allane SE (WKN: A0DPRE / ISIN: DE000A0DPRE6) has been listed in the Regulated Market of the Frankfurt Stock Exchange (Prime Standard) since 7 May 2015. In financial year 2021, the Group generated consolidated revenue of EUR 740 million.
With around 92 per cent, Hyundai Capital Bank Europe GmbH (HCBE), a joint venture of Santander Consumer Bank AG and Hyundai Capital Services Inc., is the largest shareholder of Allane SE.
09.11.2022 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
|Phone:||+49 (0)89 7080 81 610|
|ISIN:||DE000A0DPRE6, DE000A2DADR6, DE000A2LQKV2|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange; Luxembourg Stock Exchange|
|EQS News ID:||1482137|
|End of News||EQS News Service|
1482137 09.11.2022 CET/CEST