Arval has reported outstanding financial results for 2023, marking a year of significant growth and strategic advancements. The company's leased fleet reached 1.7 million vehicles, a 6.9% increase from 2022. Gross operating income rose by 16.7% to €2,906 million, driven by business expansion and a higher volume of vehicle sales. Net income also saw an impressive increase of 11.6%, amounting to €1,398.1 million.
One of the highlights of Arval's performance is the substantial progress in the electrification of its fleet. The number of battery electric vehicles (BEVs) surged by 85% compared to the previous year, with BEVs constituting 22% of new vehicle orders in the last quarter of 2023. Arval introduced the Arval Charging Services, facilitating the adoption of electric vehicles by offering leases bundled with charging stations.
Arval's strategic partnerships also played a crucial role in its growth. The company signed an international agreement with ChargePoint, providing access to over 500,000 charging points across Europe. Additionally, Arval formed a tripartite strategic cooperation with Element and Sumitomo Mitsui Auto Service, expanding its global reach.
In terms of mobility solutions, Arval's car-sharing service now operates in 15 countries, and its bike leasing offering increased by 65% in 2023. The Arval Mobility Pass, launched in partnership with Edenred, Betterway, and XXImo, aims to enhance employer and employee mobility.
Looking ahead, Arval aims to continue its growth trajectory by focusing on sustainable mobility and expanding its innovative services. The company’s successful implementation of its 2025 Arval Beyond plan underscores its commitment to being a leader in the mobility sector.
9 Key Takeaways from the IFRS 18 Educational Video for Financial Institutions and Insurers.
