Third quarter and 9M 2016 results
LeasePlan builds solid foundation to support new strategic roadmap
Almere, the Netherlands, 15 November 2016 – LeasePlan Corporation N.V., a leading fleet management and driver mobility company, today publishes its results for the third quarter and the first nine months of 2016.
Highlights first nine months
• Net profit of EUR 395.2 million over the first nine months of 2016 represents an 11% increase year-on-year and includes positive one-time items of EUR 39 million (nine months 2015 one-time items: EUR 10 million positive) offset by an unrealised loss on derivative financial instruments of EUR 5 million net (nine months 2015: EUR 6 million net unrealised gain).
• Net profit excluding one-time items and unrealised gains/losses on derivatives grew by 6% year-on-year over the first nine months, helped by continuing strong margins on lease services and damage risk retention.
• Strong capital and liquidity position remains.
• LeasePlan’s fleet grew from 1.55 million to 1.64 million vehicles at the end of the third quarter.
• SME and Private Lease remains the fastest growing segment with year-on-year growth in vehicles under management of 19%.
• New leadership appointments in September with CEO Tex Gunning and COO Marco van Kalleveen; focus on value creation supported by an integrated organisational structure.
Tex Gunning, CEO of LeasePlan:
“I feel privileged to lead LeasePlan to its next stage of development. It’s a great company with dedicated staff and a strong international track record of successfully serving an increasingly diverse client base for over 50 years. As our markets will become more dynamic, LeasePlan now embarks on the next phase of its development. In recent weeks we have identified ample opportunities to further unlock the potential of LeasePlan and deliver more value for both customers and investors. We have designed a new value creation model and have started to build a more integrated organisational structure. During the coming months we will undertake a strategic review and further shape our vision for the road ahead. We anticipate providing a more concrete and detailed view on our plans at the end of the first quarter of 2017.”