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Best ever profits for Leaseplan in 2015

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Author: | Updated: 09 Feb 2016 08:59

Leasing and vehicle management giant Leaseplan achieved a record annual net profit in 2015, according to the company’s annual report.

According to the group’s full year report, net profit grew 19% in 2015 to €442.5 million (£342.34m), compared to €372m in 2014.

In a year which saw Leaseplan become the world’s largest leasing and fleet management company with a global fleet of 1.55 million vehicles, the value of Leaseplan’s total assets increased 8.62% to €21.4 billion (£16.56bn), as of year-end 2015, compared to 12 months earlier (€19.7bn / £15.24bn).

Customer satisfaction was high too, with 92% of fleet managers saying they were very satisfied with the quality of Leaseplan’ services.

LeasePlan1

Big push on private leasing pays off

The company’s success in 2015 had also been helped by a focus on private car leasing, launching new personal contract hire initiatives in the UK, Italy, Norway and Belgium.

A statement from Leaseplan read: “Individuals are increasingly realising that private leasing is a way to enjoy driving while freeing oneself from the burdens and risks of car ownership, as monthly lease fees include tyres, maintenance, insurance, relevant taxes and roadside assistance.”

The company also benefitted from a positive second-hand car market and risk mitigating actions paying off, which generated strong termination income.

‘Whole new generation’ converting to the benefits of leasing, survey finds

Private leasing is a way to enjoy driving while freeing oneself from the burdens and risks of car ownership.

Leaseplan CEO Vahid Daemi commented: “In 2015, LeasePlan achieved strong financial results and made excellent progress against its main strategic priorities: growth and operational excellence, with a strong focus on customer centric innovation, and the development of its people.

“We can report greater profitability, a significant growth of the global fleet of vehicles, and the introduction of new, leading-edge mobility solutions.

“To make LeasePlan a ‘one-stop shop’ for business mobility, we are extending our client offering through new products for car sharing and flexible leasing. These innovations show our company’s ability to seize opportunities in a changing industry - a strength that has characterised LeasePlan for over 50 years.”

Why leasing could be one of the best decisions you’ll ever make

Leaseplan operates in 32 countries and its UK division - established in 1979 - boasts a fleet in excess of 138,000 vehicles including 37,000 commercial vehicles.

The company was sold to a group of long term investors for around €3.7 billion (roughly £2.6bn) in July.

The deal is set to be completed before April, after the European Central Bank (ECB) last week issued a Declaration of No Objection for the acquisition.

Leaseplan’s 2015 in numbers:

  2015 2014 % change
Profit after tax €442.5 million £342.34m +19%
Return on equity 15.2% 13.8% +10.14%
Total assets €21.4 billion €19.7 billion +8.60%
Number of vehicles 1.55 million 1.42 million +9.15%
Number of employees 7,275 6,838 +6.39%
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