France's Ayvens Q3 net income falls 11.9%

Overview

• French vehicle leasing firm's Q3 net income group share fell 11.9% yr/yr

• Gross operating income declined 13.1% from a year earlier

• Underlying margins rose and operating expenses decreased, partly offsetting lower used car sales results

Outlook

• Company says it is on track to meet PowerUP 2026 financial targets

• Ayvens plans to begin executing its Ayvens 2029 strategic plan

Result Drivers

• USED CAR SALES - Co said a significant decrease in net used car sales result weighed on Q3 performance

• HYPERINFLATION IMPACT - Co said margins were negatively affected by hyperinflation, particularly in Turkey

• COST SYNERGIES - Co attributed lower operating expenses to increased cost synergies and strict cost monitoring

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the consumer lending peer group is "buy"

• Wall Street's median 12-month price target for Ayvens SA is €11.35, about 29% above its October 28 closing price of €8.80

• The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 9 three months ago

Reuters Recommended Reads

• Oct 28 - UBS Q3 net profit rises 8% yr/yr

• Oct 28 - European banks beat profit forecasts, Brazil overshadows Santander

• Oct 28 - Aston Martin's Q3 revenue rises 36% on Specials deliveries

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)