Allane SE Modifies Expense Recognition Method Due to Market Changes

Allane SE has announced a shift in its accounting practices regarding the recognition of impairment losses on leased assets. Effective from June 30, 2024, the company will apply an internal method aligned with its parent company's standards. The change involves amortizing the difference between the residual value and the expected market value of vehicles over the lease term, rather than immediately. This results in lower impairment losses and positively impacts EBT.

For the first half of 2024, Allane SE had to adjust the accumulated impairment loss on leased assets to EUR 42.1 million, mainly due to a decline in expected used car prices, particularly for electric vehicles. This change reduced the cumulative impairment loss to EUR 10.1 million as of June 30, 2024.

Preliminary figures show Allane SE's consolidated sales reached EUR 359.5 million for H1 2024. The Group contract portfolio totaled 133,800 contracts, and EBT stood at EUR 7.6 million. The company expects a group EBT in the high single-digit million-euro range for the full financial year of 2024.