Arval, a global player in full-service vehicle leasing and sustainable mobility solutions, has announced its 2024 annual results, highlighting significant business growth and resilience in the face of a gradually normalising used vehicle market. The company’s financed fleet grew by 5.6% compared to 2023, reaching 1.8 million vehicles, while financial outstandings increased by 19.9%.
Despite the gradual return to normal of used car prices after two exceptional years, Arval reported a solid performance, driven by its strategic investments and operational efficiency. The company’s gross operating income stood at €2,606.5 million, down 10.3% from 2023 due to the stabilisation of used car prices. However, excluding the car sales result, gross operating income rose by 14.7% to €1,780.6 million, demonstrating the strength of Arval’s core leasing business.
Operating expenses remained well-controlled, increasing by just 4.3%, significantly lower than the fleet’s growth rate. This cost efficiency, combined with a resilient financial performance, resulted in a net income of €1,129.9 million, maintaining a robust level despite a 19.2% decline compared to 2023.
Arval continued to grow its financed fleet, which reached nearly 1.8 million vehicles worldwide. The corporate segment saw an increase of 5.1% to 1.19 million vehicles, while the retail segment grew by 10% to 557,089 vehicles, reflecting the rising interest in long-term leasing, particularly among SMEs and individual customers (+17.0%).
The company made significant strides in its electrification strategy, with its electrified vehicle fleet (including hybrids and fully electric vehicles) increasing by 30.7% to 573,086 units. Fully electric vehicles saw even stronger growth, rising by 52.3% to 253,373 vehicles.
Strategic partnerships and digital innovations
In 2024, Arval strengthened its position through multiple strategic partnerships, expanding its international presence and service offerings:
- Manufacturer collaborations: The company now has 80 white-label partnerships with 15 leading car manufacturers.
- Charging infrastructure: Customers now have access to over 700,000 charging points across Europe.
- BNP Paribas mobility partnership: A new agreement with BNP Paribas entities and La Banque Postale to distribute mobility solutions to individual customers.
- Technology-driven solutions: Arval Connect now boasts 800,000 connected vehicles, while Arval Mobility Pass has already gained over 60,000 users.
Investing in the future of mobility
Arval continues to lead the charge in the mobility transition with its innovative initiatives:
- Arval STAR: A strategic transformation program designed to help companies navigate sustainability and energy transition challenges.
- Arval Energy: A new initiative focused on integrating mobility with energy solutions, including vehicle-to-grid (V2G) and vehicle-to-home (V2H) technologies.
- Investment in decarbonisation: Arval has invested in Shift4Good, a venture capital fund dedicated to decarbonising transportation, and has partnered with the EVVE project to deploy 800 V2G charging stations in Europe.
Arval’s total revenue grew by 22.2% to €19,669.3 million, reflecting the overall expansion of its leasing business. The company maintained a strong balance sheet, with total equity increasing to €4,550 million (+14.3% vs. 2023) and total assets reaching €47,915 million (+8.1%).
Despite the return to more typical used vehicle prices, Arval’s strong leasing performance and diversified business model helped sustain profitability. As part of its extended Arval Beyond strategic plan, the company has set a new target of reaching a 2 million-vehicle fleet by 2026, including 400,000 electric vehicles.
Alain van Groenendael, CEO of Arval, expressed confidence in Arval’s trajectory: “In a context of gradual normalisation of used vehicle prices, which were at exceptionally high levels over the last two years, Arval achieved a very good performance in 2024 with a financed fleet up by 5.6% compared to 2023, to 1.8 million vehicles, and outstandings up by 19.9%.
“Thanks to its profitable and sustainable growth strategy, Arval’s gross operating income proved resilient and increased by 14.7% compared to 2023 excluding car sales result.
“Operating expenses are well under control and grew by only 4.3%, significantly slower than the fleet, due to efficiency and digitalisation measures. Arval thus recorded a net income of €1,130 million, remaining at a very good level.
“Arval is pursuing with determination its investments in sustainable mobility for the benefit of its clients’ energy transition, and has seen its CSR strategy recognised by obtaining the EcoVadis platinum medal, which places it among the top 1% of companies assessed. The electric vehicle fleet is up by 52% compared to 2023 and the launch of Arval Mobility Pass is a success with already more than 60,000 users.
“I would like to thank all Arval employees for this good performance, which enables our company to start 2025 with confidence.”
