Great break down @Exised
for the core business of fleet these companies make monthly earn on every aspect they touch / manage
essentially they would be getting monthly cashflow on:
Monthly management fee
trailing commission on finance payments from financiers (based on amount financed when leases extended this is less as amount refinanced is less than a new car and reason profits are down - also I would imagine they receive a one off up front payment on new assets)
maintenance which most would be underwritten and they have trade rates with suppliers due to buying power essentially they pay significantly less than retail.
fuel and toll management
telematics
plus what ever other services they offer
In a part market extending the operating leases allows them to reposition their future values and actually minimises sale loss at the back end
anyway I’ll maintain this is a good buy opportunity someone is buying up big and they want the book of assets under management imho
with 2 offers in 12 m now would be the perfect time to
strike imho
gltah
pls dyor
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