Ayvens (AYV) Q2 2026 earnings summary

Executive summary

• Q2 2026 delivered strong operating performance with robust leasing and services margins, disciplined cost control, and significant synergies, despite a sharp decline in used car sales results and net income group share down 8.7% year-over-year to EUR 248 million.

• H1 2026 net income group share rose 4.7% year-over-year to EUR 514 million, with ROTE at 14.1% and cost to income ratio improving to 52.1%.

• EUR 700 million capital return to shareholders via share buyback and exceptional interim dividend was announced, with a 50% payout policy maintained.

• Company remains on track to achieve PowerUP 2026 financial and synergy targets, with continued focus on cost discipline and operational efficiency.

• Integration of acquired businesses progressed as planned, with EUR 222 million in gross synergies realized in H1 and EUR 112 million in Q2, on track for the full-year target of EUR 440 million.

Financial highlights

• Leasing and services margins rose 7.0% year-over-year to EUR 762 million in Q2 2026, while gross operating income fell 11.8% to EUR 754 million due to normalization in used car sales results.

• Net income group share was EUR 248 million in Q2 2026 and EUR 514 million for H1 2026.

• Cost to income ratio improved to 50.3% in Q2 2026, down 7.3 percentage points year-over-year.

• Diluted EPS for H1 2026 increased to EUR 0.61, with net tangible asset value per share at EUR 8.53 after distribution provision.

• CET1 ratio stood at 12.6% at 30 June 2026, 334 bps above regulatory minimum.

Outlook and guidance

• On track to deliver EUR 440 million in synergies for 2026 and achieve PowerUP 2026 targets.

• Management to present next phase of strategic and financial roadmap at Capital Markets Day in September 2026.

• Cost-income ratio target for full year 2026 is around 52%.