Third Quarter 2022 Results
-
CPBS Specialised Businesses - Arval & Leasing Solutions - 3Q22
Very strong performance and positive jaws effect
•
•
Arval
Good organic growth in the financed fleet (+5.5%¹ vs. 3Q21) and continued
very high used car prices
Signing of an agreement² on the acquisition in the Netherlands of Terberg
Business Lease Group, a long-term vehicle leasing specialist with a fleet of
38,000 vehicles
Very strong growth in flexible mobility solutions: 50,000 vehicles (+53.6%
vs. 30.09.21)
Leasing Solutions
Increase in outstandings (+2.9%³ vs. 3Q21) and good resilience of
business activity
Development of an economy-of-use offering with the signing of a
partnership with Zuora, supplier of the main cloud-based subscription
management platform
Revenues: €874m
(+32.9% vs. 3Q21)
• Very good performance at Arval (with very
high used car prices)
• Good growth at Leasing Solutions with the
increase in outstandings
Operating expenses: €341m
(+8.6% vs. 3Q21)
• Growth at marginal cost with the
improvement in productivity
• Very positive jaws effect (+24.2 pts)
Arval: a balanced
distribution in revenues
Financial
margin
30%
42%
Used car
sale
margin
Services
margin
28%
€bn
9M22 revenues
Leasing Solutions: further
increase in outstandings
+2.9%³
22
23
22
3Q21
3Q22
Pre-tax income: €502m
(x1.7 vs. 3Q21)
BNP PARIBAS
1. Increase of the average fleet in thousands of vehicles; 2. Subject to regulatory approval; closing of the deal expected by the end of 2022; 3. At constant scope and exchange rates
The bank for a changing world
Third quarter 2022 results | 32View entire presentation