Ayvens shares jump as leasing margins drive strong Q1 results

Ayvens SA

03/05/2024 09:05

** Shares in Ayvens (ex ALD)  ALD.PA  jump 12% after Societe
Generale's  SOGN.PA  car leasing unit posted strong Q1 results
led by leasing contract margins and used car sales
    ** "A strong set of numbers boosted by a strong Leasing
contract margin and used car sales (UCS) result," says ING
    ** It reports a 30.6% increase in Q1 leasing contract and
services margins to 706.6 million euros ($758.2 million),
beating a consensus of 639.9 million euros cited by ING
    ** Q1 used car sales result came at 95.0 million euros,
beating a consensus of 80.1 million
    ** Net income group share of 187.8 million euros also beats
consensus of 151.5 million
    ** J.P.Morgan notes Ayvens posted its first solid set of
results in a while, with higher leasing margins
    ** The stock is among top gainers on France's SBF 120 Index
 .SBF120 
    ** If gains hold, it is on track for best day since October
2020
    ** Separately, Societe Generale's Q1 beat lifts its shares
to the top of France's CAC 40

($1 = 0.9320 euros)

 (Reporting by Michal Aleksandrowicz)
 ((michal.aleksandrowicz@tr.com))