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Allane SE
Earnings Release • Aug 12, 2024
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News Details
Ad-hoc | 12 August 2024 16:22
Allane SE: Change in the recognition of expenses from an extraordinary depreciation resulting from residual and fair value differences
Allane SE / Key word(s): Half Year Results
Allane SE: Change in the recognition of expenses from an extraordinary depreciation resulting from residual and fair value differences
12-Aug-2024 / 16:22 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Allane SE: Change in the recognition of expenses from an extraordinary depreciation resulting from residual and fair value differences
Pullach, 12 August 2024 – The Management Board of Allane SE has decided to apply the Group’s internal accounting method for the recognition of impairment losses on leased assets with effect from 30 June 2024. With this change, Allane SE is adapting its accounting method to the accounting standards of its parent company in order to achieve Group-wide standardization. The change stipulates that the amortization of any difference between the residual value from the initial lease calculation and the expected market value of the vehicles, which Allane SE estimates based on data from an external market provider, is no longer recognized immediately in full, but is recognized pro rata over the remaining term of the lease. This change leads to a lower level of impairment losses and therefore has a positive effect on EBT.
As part of the 2024 half-year reporting, Allane SE would have had to increase the accumulated impairment loss on leased assets to EUR 42.1 million. The need for this further extraordinary impairment mainly resulted from the market-related decline in expected used car prices, particularly for electric vehicles. Due to the combined effect of the two factors described above, the cumulative impairment loss on leased assets amounts to EUR 10.1 million as at 30 June 2024.
Based on preliminary figures, Allane SE expects consolidated sales of EUR 359.5 million for the first half of 2024, a Group contract portfolio as of 30 June 2024 of 133,800 contracts and a group EBT of EUR 7.6 million. Taking into account both extraordinary effects, Allane SE still expects a group EBT for the 2024 financial year in the high single-digit million-euro range.
Contact details:
Peter Thoma
Investor Relations
E-mail: [email protected]
Tel: +49 89 708081351
End of Inside Information
12-Aug-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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| Language: | English |
| Company: | Allane SE |
| Dr.-Carl-v.-Linde-Str. 2 | |
| 82049 Pullach | |
| Germany | |
| Phone: | +49 (0)89 7080 81 610 |
| E-mail: | [email protected] |
| Internet: | http://ir.allane-mobility-group.com |
| ISIN: | DE000A0DPRE6, DE000A2DADR6, DE000A2LQKV2 |
| WKN: | A0DPRE |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange; Luxembourg Stock Exchange |
| EQS News ID: | 1966151 |
| End of Announcement | EQS News Service |