ALLANE SE
EQS-News: Allane SE
/ Key word(s): Preliminary Results
PRESS RELEASE
Pullach, 22 March 2024 – Allane Mobility Group ("Allane"), specialist for vehicle leasing and full-service solutions in Germany, has grown both in the Group contract portfolio and in consolidated operating revenue* in the 2023 financial year – according to preliminary calculations – despite macroeconomic challenges. The Group contract portfolio increased by 8.6% year-on-year to 125,800 contracts, with the largest growth being generated in the Leasing business unit. As a result, consolidated operating revenue* rose by 13.0% to EUR 361.2 million. Earnings before taxes (EBT) were in line with the forecast in the 2023 financial year and amounted to EUR 12.6 million (previous year: EUR 12.8 million). Eckart Klumpp, CEO of Allane SE: "Although the supply shortages were largely resolved in 2023, we were confronted with new macroeconomic challenges – such as a significant rise in interest rates. Despite the tense overall global situation, we achieved our guidance for 2023 and generated increases in both the contract portfolio and consolidated operating revenue. We have therefore returned to the growth path. The successful development is in particular due to the cooperation with Hyundai, which began in 2022, and the cooperation with Kia in the Retail Leasing business field, which started in 2023. Based on this, we are confident about the 2024 financial year." Business development According to preliminary calculations, consolidated operating revenue* (excluding sales revenue**) increased by 13.0% to EUR 361.2 million. Sales revenue** from the sale of lease returns and the marketing of customer vehicles from Fleet Management increased by 2.4% to EUR 276.5 million. This development was mainly due to a slight increase in the volume of vehicles sold as a result of the continued high demand for used vehicles, with unit prices remaining almost constant compared to the previous year. Consolidated revenue, which includes consolidated operating revenue* and sales revenue**, therefore increased by 8.1% to EUR 637.7 million. Earnings before interest, taxes, depreciation and amortization (EBITDA) increased significantly by 19.4% to EUR 221.0 million in the 2023 financial year. At EUR 12.6 million, earnings before taxes (EBT), however, were slightly below the previous year's level. This is mainly due to a lower financial result resulting from increased refinancing costs due to higher interest rates. The Allane Mobility Group will announce the final and audited figures for the 2023 financial year and an outlook for the 2024 financial year with the publication of the Annual Report 2023 on 30 April 2024. * In the 2023 financial year, there was an adjustment in revenue recognition in accordance with IFRS 15 for some service components, meaning that Allane no longer recognizes the corresponding revenue in the role of the principal, i.e. on a gross basis, but in the role of the agent, i.e. on a net basis. This adjustment is reflected in the consolidated operating revenue. As a result of the adjustment, the previous year’s figure changed by EUR 65.8 million from EUR 385.4 million to EUR 319.6 million. ** In the 2023 financial year, there was also an adjustment in revenue recognition for sales revenue in accordance with IFRS 15. Allane no longer recognizes the corresponding sales revenue from the marketing of customer vehicles in the Fleet Management business unit in the role of the principal, i.e. on a gross basis, but in the role of the agent, i.e. on a net basis. As a result of the adjustment, the previous year’s figure changed by EUR 61.5 million from EUR 331.6 million to EUR 270.1 million. --- About Allane Mobility Group: Private and commercial customers use Allane’s online and offline platforms to lease new vehicles affordably or acquire used vehicles from a large stock. Corporate customers benefit from the cost-efficient full-service leasing of their vehicle fleet and from comprehensive fleet management expertise. Allane SE (ISIN: DE000A0DPRE6) is listed in the Prime Standard of the Frankfurt Stock Exchange. In the 2023 financial year, the Group generated consolidated revenue of around EUR 638 million. With around 92 percent, 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. https://allane-mobility-group.com/en
22.03.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
| Language: | English |
| Company: | Allane SE |
| Dr.-Carl-v.-Linde-Str. 2 | |
| 82049 Pullach | |
| Germany | |
| Phone: | +49 (0)89 7080 81 610 |
| E-mail: | ir@allane.com |
| Internet: | http://ir.allane-mobility-group.com |
| ISIN: | DE000A0DPRE6, DE000A2DADR6, DE000A2LQKV2 |
| WKN: | A0DPRE |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange; Luxembourg Stock Exchange |
| EQS News ID: | 1865575 |
| End of News | EQS News Service |
1865575 22.03.2024 CET/CEST
