DGAP-News: Allane SE: Contract portfolio grows in the third quarter of 2021

Allane SE: Contract portfolio grows in the third quarter of 2021

• Slight increase in Group contract portfolio from end of June to end of September after decline in the first half of the year
• Business development in the first nine months of 2021 in line with expectations
• Successful further digitalisation of the business model and renaming
• Forecast for the 2021 financial year confirmed

Pullach, 17 November 2021 - Allane SE (former Sixt Leasing SE), a leading provider in online direct sales of new vehicles in Germany as well as a specialist in the management and full-service leasing of large fleets, has recorded an increase in the Group's contract portfolio again in the third quarter of 2021 after a decline in the first half of the year. Overall, the Company developed in line with expectations in the first nine months of 2021.

Successful further digitalisation and renaming
In the first nine months of 2021, Allane achieved several milestones in the digitalisation of its business model. Firstly, a new app for fleet leasing customers, an innovative analysis and reporting tool for fleet managers as well as the electronic driver's licence check for company car drivers were launched. In addition, the realignment of the subsidiary autohaus24 as one of the leading online car dealerships for new and used cars in Germany was driven forward and a rebranding of the brand presence was carried out. Furthermore, the change of name of Sixt Leasing SE to Allane SE was completed on 5 August 2021.

Donglim Shin, CEO of Allane SE: "In the third quarter, we were able to increase the number of contracts. We are thus back on the growth path. The business development makes us confident that we will achieve our forecast for the full year. Our goal is to continue to drive forward the digitalisation of our business model in particular - and to make the Allane Mobility Group the leading multi-brand provider of comprehensive mobility solutions in Europe."

Business development
Business development in the first nine months of 2021 continued to be affected in particular by the COVID-19 pandemic. As expected, there were signs of a slight recovery in business development in the third quarter. The Group's contract portfolio in Germany and abroad (excluding franchise and cooperation partners) increased slightly by 0.8 per cent to 128,200 contracts in the period from the end of June to the end of September. In the period from the end of December 2020 to the end of September 2021, on the other hand, it decreased slightly by 1.3 per cent. At the same time, the contract portfolio in the Online Retail business field decreased by 5.0 per cent to 36,700 contracts. The contract portfolio in the Fleet Leasing business field decreased by 11.9 per cent to 33,300 contracts. In the Fleet Management business unit, on the other hand, the contract portfolio increased by 8.8 per cent to 58,200 contracts.

Consolidated revenue in the first three quarters of 2021 increased by 0.1 per cent to EUR 565.8 million compared to the same period in the previous year. Operating revenue, which does not include the proceeds from vehicle sales, decreased in the same period by 8.9 per cent to EUR 291.5 million. A major impact on the decline in operating revenue was attributable to the third "lockdown" due to the ongoing COVID-19 pandemic, which, in contrast to the first "lockdown" in the prior-year period, lasted longer throughout the first half-year. This third "lockdown" resulted, among other things, in significantly reduced vehicle usage, causing in particular a decline in usage-related revenues, such as fuel revenues and revenue from individual service products. Moreover, leasing revenue (finance rate) decreased compared to the first three quarters of 2020 due to the decline in the contract portfolio of the Leasing business unit. In addition to the aforementioned reduction in vehicle usage, the decrease in contracts also contributes to the decline in usage-related other revenue from leasing business. Sales revenue from the sale of leasing returns and marketing of customer vehicles in Fleet Management increased in the first three quarters of 2021 by 11.8 per cent to EUR 274.4 million. This development was mainly caused by an increase in unit price of vehicles sold due to the high demand on used cars.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) decreased in the first three quarters of 2021 by 10.3 per cent to EUR 142.3 million compared to the same period in the previous year. Earnings before taxes (EBT) saw a decline of 10.3 per cent to EUR 4.6 million. The operating return on revenue (EBT/operating revenue) consequently amounted to 1.6 per cent (9M 2020: 1.6 per cent).

Outlook
Allane confirms the outlook published on 24 March 2021. Accordingly, the Company expects a slight increase in the Group contract portfolio compared to the previous year (2020: 129,900 contracts) and consolidated operating revenue in the range of previous year's figure (2020: EUR 423.3 million). With regard to EBT, Allane expects a higher single-digit million euro amount (2020: EUR 9.1 million).

The reason for the cautious forecast for the full year 2021 is, in addition to the operating business development in the first nine months of 2021, primarily the ongoing COVID-19 situation. In this respect, the Company assumes that the market and business environment will continue to be strongly negatively impacted by the COVID-19 pandemic. In addition, consolidated earnings are still burdened in the 2021 financial year by transaction-related costs in connection with the takeover of the Company by HCBE.

The full quarterly statement as of 30 September 2021 can be downloaded from https://ir.allane-mobility-group.com/interim-reports.

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About Allane:

Allane SE based in Pullach near Munich is a leading provider in online direct sales of new vehicles in Germany as well as specialist in management and full-service leasing of large fleets. With tailor-made solutions, the company enables the longer-term mobility of its private and corporate customers.

Private and commercial customers use the online platforms sixt-neuwagen.de and autohaus24.de to lease new vehicles affordably. Corporate customers benefit from the cost-saving leasing of their vehicle fleet and from efficient fleet management.

Allane SE (WKN: A0DPRE / ISIN: DE000A0DPRE6) has been listed in the Regulated Market of the Frankfurt Stock Exchange (Prime Standard) since 7 May 2015. In financial year 2020, the Group generated consolidated revenue of EUR 748 million.

www.allane.com

Contact:

Allane SE
Investor Relations
+49 89 74444 4518
ir@allane.com

About HCBE:

Hyundai Capital Bank Europe GmbH (HCBE) is the captive financial services provider of Hyundai Motor and KIA. The company is located in Frankfurt am Main. HCBE successfully passed the EU-wide standard bank approval procedure and received the German full-license from the European Central Bank in September 2016. Shareholders of the joint venture are Santander Consumer Bank AG und Hyundai Capital Services Inc.

The Allane Mobility Group in 9M 2021 at a glance¹

¹ Rounding differences possible
² Ratio of EBT to operating revenue