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EQS-News: Allane SE
/ Key word(s): Half Year Report/Half Year Results
PRESS RELEASE Allane Mobility Group increases contract portfolio and operating revenue in the first half of 2024
Pullach, 23 August 2024 – Allane Mobility Group ("Allane"), specialist for vehicle leasing and full-service solutions in Germany, recorded a positive operating performance in the first half of 2024. Consolidated operating revenue increased significantly compared to the same period of the previous year, the Group contract portfolio was also significantly higher than the figure as of 30 June 2023 and slightly higher than the figure as of 31 December 2023. Eckart Klumpp, CEO of Allane SE: “Allane Mobility Group recorded a strong operating performance in the first half of 2024. Particularly pleasing is the significant increase in consolidated operating revenue, which is primarily due to the continuous growth of our contract portfolio. As at June 30, 2024, this was well above the level of the previous year's reporting date. This development confirms that we are on the right track with our FAST LANE 27 strategy. Nevertheless, the challenging market environment has prompted us to further increase risk provisions, particularly for electric vehicles, which had a negative impact on earnings in the first half of the year.” Business performance in the first half of 2024 Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) improved significantly by 49.8% to EUR 147.7 million in the first half of 2024 (H1 2023: EUR 98.5 million). Consolidated earnings before taxes (EBT), however, were negatively impacted by the increased risk provisioning, or accumulated impairment losses, particularly for electric vehicles, in the value of EUR 41.2 million and consequently amounted to EUR -24.6 million (H1 2023: EUR 6.9 million). In addition, higher refinancing costs due to the growing lease portfolio and higher refinancing interest rates also had a negative impact on earnings performance. ---- 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 619 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. www.allane-mobility-group.com
23.08.2024 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: | 1974309 |
End of News | EQS News Service |
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1974309 23.08.2024 CET/CEST