Arval continued its growth in 2025 with a financed fleet that has now reached 1,894,865 vehicles globally, a 5.5% increase compared to December 31, 2024, the company announced.
The fleet financed in the Corporate segment reached 1,229,772 vehicles at the end of December 2025 (+3.1%compared to the end of December 2024). The Retail segment reached 620,504 vehicles, an increase of 11.4% compared to the end of 2024, demonstrating the growing interest of SMEs and individuals in long-term leasing and the success of implemented partnerships (growth in the individual customer segment alone reached 13.7%). The Arval Flex fleet (medium-term flexible rental) was 44,589 vehicles, down 3.1% compared to the end of 2024, due to better vehicle availability for long-term leasing, thanks to the gradual return to normal delivery times.
On December 31, 2025, Arval's fleet comprised 701,049 Electrified vehicles (hybrid and electric vehicles), an increase of 22.3%compared to last year. The growth of the fully electric vehicle segment was very strong: +35.1%, reaching 342,340 units.
At the end of 2025, Arval announced that it was taking a significant step in its development by entering into exclusive negotiations with Mercedes-Benz Group for the acquisition of Athlon, a major player in the vehicle rental sector. This strategic project illustrates Arval's desire to strengthen its competitiveness and its position in the European market by creating new synergies and continuing to highlight the quality of its services.
Arval is also pursuing long-term partnerships, such as extending its collaboration with CaixaBank until 2030 to continue offering innovative mobility solutions in Spain, and signing a framework agreement with Nissan Motor Corporation in Latin America, extending the already existing partnership in Europe. Arval has also entered into a new partnership with Maxus Motors France to develop its B2B activities with corporate clients.
This year, Arval celebrated the 30th anniversary of the Element-Arval Alliance. The Element-Arval Alliance, a global leader in fleet management with nearly 4.6 million vehicles in 54 countries, continued its international coverage in 2025. Together, the Alliance members today support a growing number of global clients, strengthening Arval's ability to serve large international companies on all continents.
Tranziția energetică este un pilon central al strategiei Arval, iar strategia sa de CSR a fost recunoscută prin obținerea medaliei de platină EcoVadis pentru al doilea an consecutiv, plasând compania în top 1% al companiilor evaluate.
Arval proposes tangible offers to facilitate this transition, such as simplified access to electric vehicle charging solutions through the Arval Energy Card, which provides access to over 950,000 charging points across Europe, a route planner that optimizes electric vehicle journeys based on range and available charging stations, and the Arval Energy Cable for charging at various outlets. Arval now offers the integration of battery health certificates when reselling used electric vehicles, to ensure customer transparency and trust.
In November 2025, Arval announced that its connected fleet had reached 1 million vehicles. This major achievement reflects a commitment to innovation and customer value creation through smarter analytics, enhanced security, and more sustainable mobility.
In addition, Arval integrates a comprehensive offer of Energy Savings Certificates (CEE) in France, through a strategic partnership with Vertigo, to support the electrification and decarbonization of fleets by facilitating access to CEE bonuses, applicable to the purchase of 100%% electric cars and light commercial vehicles, which can be combined with the bonus for individual customers.
As a key player in mobility, Arval develops and enhances its global offering beyond simple vehicle leasing, providing solutions that emit less CO2, such as the Arval Bike Lease offer (+38% in one year), with over 10,000 bicycles for rent in 14 countries, and driving courses to improve the decarbonization of each journey. Arval is also a member of the European Cycling Industries (CIE) alongside BNP Paribas Personal Finance, supporting the transition and development of alternative mobility.
In 2025, Arval's gross revenues increased by 6.9%, reaching €21,017.3 million (€19,669.3 million in 2024), in line with business growth.
Venitul operațional brut a fost de 2.164,1 milioane euro (-17,0% comparativ cu 2024 și -19,0% excluzând impactul unui element excepțional pozitiv de 53 milioane euro), înregistrând creșterea marjelor de leasing și servicii, precum și un efect de bază nefavorabil comparativ cu nivelul încă foarte ridicat din 2024 al venitului operațional brut din vânzările de vehicule și câștigurile de capital anticipate din cesiuni.
Gross operating income, excluding the results of car sales, was €2,046.2 million and recorded an overall increase of 14.9% (+11.9% excluding the impact of a positive exceptional item of €53 million), reflecting good business growth.
The result of car sales and anticipated capital gains amounted to 117.9 million euros in 2025, after three years at exceptional levels (1,129.6 million euros in 2022, 1,353.6 million euros in 2023, and 825.8 million euros in 2024). However, the base effect decreased significantly in the second half of the year.
Arval's operating expenses are well controlled at €1,085.3 million. They increased by 6.1% compared to 2024. The cost-to-income ratio was 50.1% in 2025, compared to 39.2% in 2024, reflecting the impact of the normalization of car sales results and anticipated capital gains from disposals. The cost-to-income ratio, excluding car sales results, showed significant improvement, reaching 53.0% compared to 57.4% in 2024, reflecting the favorable effect of operational efficiency and digitalization measures.
The cost of risk remained moderate, at 54.7 million euros, or 14 basis points relative to financial exposures. It is close to the previous year's level (58.9 million euros or 17 basis points).
The operating result of 1,024.1 million euros (1,525.0 million euros in 2024) was, on the whole, at a good level, reflecting strong business growth and an unfavorable base effect compared to a still very high level of automotive sales results and capital gains anticipated in 2024.
Non-operational items totaled -68.8 million euros (-22.4 million euros in 2024). These include the effect of applying IAS 29 „Financial Reporting in Hyperinflationary Economies” within the Arval subsidiary in Turkey (TEB Arval) for -85.2 million euros compared to -35.6 million euros in 2024.
Profit before tax of EUR 955.3 million (EUR 1,502.5 million in 2024) decreased by 36.4%.
Net income was thus €644.7 million (€1,129.9 million in 2024), down 42.9% compared to 2024, due to a base effect that was still unfavorable compared to the very high level of car sales results and expected results in 2024, partially offset by an increase in financial and service margins in connection with the increase in financial commitments. Net income, Group share, was €644.6 million (-40.7% compared to 2024).
Thus, Arval achieved a good operational performance in 2025, reflecting the growth of its business and financial balances, but which was still affected by the base effect on the normalization of automotive sales results. This base effect significantly decreased in the second half of the year. Arval's results attest to the success of its long-term leasing business model, supported by the diversification of its client base, its international presence, and its products.
The total balance sheet was EUR 51,491 million at the end of December 2025 (vs EUR 47,915 million at the end of December 2024). Total equity, after a dividend distribution of EUR 584 million in the first half of 2025, stood at EUR 4,587 million at the end of December 2025 (vs EUR 4,550 million at the end of December 2024).
As part of the preparation for its future strategic project, Arval has extended its Arval Beyond plan by one year, with a target of 2 million vehicles in 2026, including 400,000 electric vehicles. In 2026, Arval will continue to implement its Arval 26 & Beyond plan, prioritizing sustainable and profitable growth, as well as supporting customers in fleet electrification.