Ayvens shares jump as sales of used cars drive Q2 beat

Ayvens SA

01/08/2024 08:40

** Shares in Ayvens  AYV.PA  rise about 8% after the French
car trader posted higher-than-expected Q2 profits, owing to used
car sales, better cost control
    ** Ayvens, Societe Generale's  SOGN.PA  car leasing arm,
posts Q2 PBT at 209 million euros ($226 million), 28% above
consensus, J.P.Morgan says
    ** Ayvens says operating expenses in the quarter fell 2.9%
q/q
    ** Its Q2 car sales result came at 575 euro per unit, 8%
above consensus expectations, which JPM says was driven by the
normalisation of the used car market 
    ** "We would expect mid single digit EPS upgrades on better
margin and cost trends", the broker says
    ** Sitting on top of France's SBF 120 index  .SBF120 , the
shares is set for best day in 6 months if gains hold

($1 = 0.9251 euros)

 (Reporting by Boleslaw Lasocki)
 ((boleslaw.lasocki@thomsonreuters.com; +48 58 769 66 00;))