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LeasePlan Corporation’s net profit up 19%

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LeasePlan Corporation has published its annual results for 2015, showing that its net profit rose 19% from £288 million in 2014 to £343 million.

The publication follows the European Central Bank approving the £2.6 billion acquisition of LeasePlan by a consortium of investors.

An increase in the number vehicles managed by LeasePlan Corporation contributed to the rise in its net profit last year with its fleet expanding from 1.42 million vehicle worldwide in 2014 to 1.55 million (up 9%).

Growth was seen throughout all regions, ranging from mature leasing markets such as the UK, The Netherlands, France, the US and Germany, to emerging leasing markets such as Turkey, where the company acquired sole ownership of the local entity. Also in 2015, LeasePlan became the 100% owner of Excelease in Belgium.

The SME segment has become LeasePlan’s fastest growing client segment, seeing growth of more than 12% in 2015. By the end of 2015, LeasePlan operations in 22 countries were serving SMEs and four more were in the process of setting up local dedicated SME activities.

LeasePlan International (LPI), the dedicated entity managing the accounts of large international clients worldwide, grew its business, reaching a total of 423,000 vehicles under management.

In the reporting year, LeasePlan won a number of large insurance-only tenders. The introduction of LeasePlan’s 3D Coverage insurance proposition paves the way for a further increase in the group’s insurance business.

The company also said that it “made good progress” in the area of private leasing in 2015. In Belgium and the Netherlands, LeasePlan launched new initiatives for private leasing through retail channels. Other campaigns were launched in Italy, Norway and the UK.

In 2015, LeasePlan launched several mobility-based products and services, including SwopCar, which allows companies to share vehicles among employees on demand.

LeasePlan is also  increasingly offering flexibility in contract duration and mileage, without any penalties when its clients’ mobility needs change.

The company continued to invest in its global consultancy community. Its 50-plus consultants around the world identified more than £54 million in cost savings for LeasePlan clients during 2015.

Vahid Daemi, CEO of LeasePlan, said: “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.”

LeasePlan is “optimistic” about 2016, suggesting that “all the fundamentals for further growth are firmly in place”.  

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