Allane Mobility Group increases contract portfolio and operating revenue in the first half of 2024

PRESS RELEASE

Allane Mobility Group increases contract portfolio and operating revenue in the first half of 2024

• Consolidated operating revenue increases by 37.0% to EUR 214.5 million
• Group contract portfolio of 133,800 contracts 6.0% above the figure at the end of 2023 and 14.9% above the figure as of 30 June 2023
• EBT forecast for the 2024 financial year adjusted due to increased risk provisioning

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
The Group contract portfolio in Germany and abroad (excluding franchise and cooperation partners) increased to 133,800 contracts as of 30 June 2024, up 6.0% on the level as of 31 December 2023 (125,800 contracts). Compared to June 30, 2023, the Group contract portfolio increased by 14.9% (H1 2023: 116,400 contracts).

Consolidated revenue, which includes operating revenue and sales revenue, rose by 17.6% to EUR 359.5 million in the first half of 2024 (H1 2023: EUR 305.7 million*). Consolidated operating revenue, which does not include revenue from vehicle sales, increased by 37.0% to EUR 214.5 million (H1 2023: EUR 156.6 million*). This development is due to a sharp increase in leasing income and usage-related service income in the Leasing division as a result of the growing lease portfolio. Sales revenue* for lease returns and brokered or marketed customer vehicles in Fleet Management fell by 2.8% to EUR 145.0 million (H1 2023: EUR 149.1 million*). The main reason for this is the decline in unit prices of vehicles sold as a result of the continued regulation of the used vehicle market; the sales volume remained constant.

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.

EBT forecast for the 2024 financial year adjusted
The Management Board continues to expect a Group contract portfolio in the range of 130,000 to 150,000 contracts for the current 2024 financial year (2023: 125,800 contracts) and consolidated operating revenue of EUR 350 to 400 million (2023: EUR 342.7 million). As a result of the significantly increased risk provisioning, the Management Board now assumes that the company will achieve a consolidated EBT of between EUR -25 million and EUR -35 million in the current 2024 financial year (2023: EUR 12.6 million). The main reasons for the reduction in the EBT forecast are the expected market development with declining used car prices, particularly for electric vehicles, and the resulting need for unscheduled depreciation.

The complete consolidated interim report as of June 30, 2024 is available for download on the Investor Relations website of the Allane Mobility Group.

* Adjusted; see “3.4 Selected explanatory notes to the consolidated income statement”, subsection “Revenue” in the consolidated interim report of Allane SE as of 30 June 2024.

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About Allane Mobility Group:
Allane Mobility Group based in Pullach is a multi-brand provider of comprehensive mobility solutions. In its business fields Retail Leasing, Fleet Leasing and Fleet Management, the Company offers a wide range of services and innovative solutions that make mobility easy in every way.

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

Contact:
Allane Mobility Group
Investor Relations
+49 89 7080 81 610
ir@allane.com