Q4 and FY 2025 strong financial results: delivering on the roadmap and confirming PowerUp 2026 targets

Contributing sentiments towards policy:

59% : The financial information presented for the financial year ending 31 December 2025 was approved by the Board of Directors on 5 February 2026 under the chairmanship of Pierre Palmieri and has been prepared in accordance with IFRS as adopted in the European Union and applicable at that date.
55% : Leasing contract and Services margins Leasing and Services margins reached EUR 747 million, an increase of 10.7% compared to Q4 2024, and a decrease of 3.7% compared to the high point of Q3 2025.
55% : For 2025, effective tax rate stood at 29.1% compared to 28.6% in 2024.
55% : These forward-looking statements are based on a series of assumptions, both general and specific, in particular the application of accounting principles and methods in accordance with IFRS (International Financial Reporting Standards) as adopted in the European Union.
55% : (128.5)-12.2%Other income / (expense) (8.6) (2.7)n.a. (12.6) (2.2)n.a.Operating result 317.0 199.6 58.8% 1,403.3 984.2 42.6%Share of profit from equity method1.54.4-66.0%6.310.1-38.2%Profit before tax 318.4 203.9 56.2% 1,409.6 994.3 41.8%Income tax expense (85.6)
53% : Net income Q4 2025 income tax expense came in at EUR 86 million up from EUR 43 million in Q4 2024, as a result of a higher profit before tax at EUR 318 million vs. EUR 204 million in Q4 2024 and a higher effective tax rate of 26.9% vs. 20.9% in Q4 2024, which was impacted by favourable one-offs.
52% : " Advertisement POWERUP 2026 CORE TARGETS CONFIRMED * Pre-tax annual gross synergies of EUR 440 million * Cost/Income ratio excl. UCS and non-recurring items at c. 52% * CET1 ratio of c. 12% * Dividend payout of 50% * ROTE in the range 13% - 15% * Earning assets growth of 6% CAGR over 2023-2026 is not being targeted any longer in the context of a strategic shift towards profitability and strict residual value setting2026 GUIDANCE * Gross UCS result per unit EUR 200-600 *
48% : In the backdrop of the usual end-of-year seasonality, the overall lower result per unit was mostly driven by a marked decline on result per unit on ICE cars, combined with an increase of the volume of BEVs sold whose result per unit was stable compared to Q3 2025.

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