LeasePlan Corporation signage

LeasePlan Corporation N.V publishes half-year 2016 results

Facebooktwittergoogle_pluspinterestlinkedinmailFacebooktwittergoogle_pluspinterestlinkedinmail

LeasePlan maintains momentum whilst investing for the future

LeasePlan Corporation N.V., the world’s leading fleet management and driver mobility company, today publishes its results for the first half year of 2016.

Highlights first half-year

• Acceleration of fleet growth: 1.62 million vehicles under management at the end of June, up 8% compared to end of June 2015.

• LeasePlan’s performance continues to be strong, reflecting growth of the global fleet, increased margins on lease services as well as strong contributions from vehicles sold and damage risk retention.

• Half year net profit of EUR 239.0 million includes an unrealised loss on derivative financial instruments (EUR 8 million net). In the first half year of 2015 LeasePlan benefited from positive one-time items (EUR 10 million net) and unrealised gains on derivative financial instruments (EUR 5 million net). Excluding these items, net profit for the first six months of 2016 increased by 6% compared to half-year 2015.

• Higher regulatory and liquidity requirements also impacted net profit, as did investments to strengthen the company’s position in new segments, M&A activities and IT solutions.

• Strong capital and liquidity position: Common equity tier 1 capital ratio of 18.1% at 30 June 2016 (17.0% at 31 December 2015), liquidity buffer at EUR 5.3 billion.

• SME and Private Lease segment continues to show the fastest business increase with a year-on-year portfolio growth of 14.2%.

 

Vahid Daemi, CEO of LeasePlan commented:

“LeasePlan continues to invest in the future. This was evidenced by the further increase of our fleet size with an additional 130,000 vehicles under management over the last twelve months. Our clients clearly appreciate our new service offerings for small and medium-sized enterprises and private leasing leading to rapid growth in this client segment.

Profit continues to be strong as a result of improved operating efficiencies and economies of scale, which were partly offset by higher regulatory and liquidity requirements, and our investments to strengthen the company’s position as the leading global fleet management and driver mobility company. In that respect, we are strengthening our IT organisation, stepping up our marketing efforts in SME and private lease and expanding our global presence, particularly in Asia.

We plan to become operational in the Malaysian market in the third quarter of 2016, which will be LeasePlan’s 33rd country of presence and our base for further expansion in the Far East region.

All in all, we are pleased with our performance and our further progress in executing the LeasePlan strategy.”

 

Download the full report here

 

 


For further information:

Media:

E: media@leaseplancorp.com

Investors:

E: paul.benson@leaseplancorp.com

 

Facebooktwittergoogle_pluspinterestlinkedinmailFacebooktwittergoogle_pluspinterestlinkedinmail

Read more…