LeasePlan announces Q1 2022 results

AMSTERDAM, the Netherlands, 11 May 2022 – LeasePlan Corporation N.V. (“LeasePlan”; the “Company”), one of the world’s leading Car-as-a-Service (“CaaS”) companies, today reports its Q1 2022 results.

Q1 2022 financial highlights 

  • Net result of EUR 360 million (+99.4%), which includes a net EUR 85 million positive mark-to-market impact arising from derivatives used for hedging
  • Underlying net result of EUR 281 million (+69.1%), representing another strong quarter of growth and performance
  • Serviced fleet growth of 6.3% to a total of 1.9 million vehicles with LeasePlan’s Q1 2022 order book reaching a new historic high
  • Underlying Lease and Additional Services gross profit of EUR 398 million (+8.7%) with strong performance across all services 
  • PLDV and End of Contract Fees Gross Profit of EUR 199 million (+209.7%) driven by continued strong demand for used-cars
  • Operating expenses of EUR 235 million (+11.1%) due to investments in growth and continued investments in our digital platforms 
  • Quarter-end liquidity buffer of EUR 6.1 billion
  • Following the announcement of the proposed acquisition by ALD of LeasePlan, LeasePlan’s shareholders and LeasePlan signed a framework agreement with ALD and Société Générale on 22 April 2022. This framework agreement is a binding agreement which confirms the terms of the transaction as disclosed earlier this year1

Key numbers 2,3


Q1 2022

Q1 2021

% YoY Growth





Serviced fleet (thousands), as at 31 March




Numbers of vehicles sold (thousands)












- Underlying net result from continued operations




- Underlying net result from discontinued operations2



Underlying net result (EUR Million)




Net result (EUR Million)




Underlying return on equity3





Commenting on the first quarter results, Tex Gunning, CEO of LeasePlan, said:

“LeasePlan continued to deliver outstanding results in the first quarter of 2022 as it operates in one of the most attractive industries. 

We expect strong growth as evidenced by our all-time high order book and current fleet growth of 6.3%. Our used car proposition has never been so popular, driven by continued demand for second hand cars and the increasing uptake of used-car leasing services. The transition to zero emission mobility is also driving growth, with 1 in 4 of our new deliveries now being an electric vehicle.

Looking ahead, we are excited by the opportunities that the proposed combination with ALD will bring for LeasePlan and the mobility sector. The combined company will be well positioned to ride the subscription megatrend, lead the shift to electric mobility and be at the forefront of the digital revolution. The combined company will also bring together the best talents in the industry to capture the opportunities of the fast growing mobility market.” 


The signing of the framework agreement follows the completion of the process of information and consultation of the relevant works councils. The transaction is expected to close by the end of 2022, subject to customary closing conditions (e.g. regulatory and anti-trust approvals). On 6 January 2022 LeasePlan signed a Memorandum of Understanding with ALD and Société Générale to create a leading global player in mobility – see press release on LeasePlan website: ALD proposed acquisition of LeasePlan – Creation of a leading global player in mobility.

Financial statements including historical periods are adjusted for the divestment of LeasePlan Australia and New Zealand to SG Fleet (transaction closed as per 1 September 2021) and the carve-out of CarNext operations in 7 countries into a newly independent CarNext (as per 1 July 2021) which subsequently was combined with Constellation Automotive Group in October 2021. The results of LeasePlan Australia and New Zealand are included in the financial statements – Underlying net result from discontinued operations up to August 2021. The results of the carved out entities of CarNext are included in the financial statements – Underlying net result from discontinued operations up to June 2021.

Underlying RoE is based on last-twelve-month underlying net result and equity excluding the additional Tier 1 instrument. Including the AT1, RoE is 18.4% for Q1 2022 and 11.0% for Q1 2021.

Press Release - LeasePlan announces Q1 2022 results


LeasePlan, EVs, Sustainability

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