LeasePlan announces Q1 2019 results
LeasePlan Corporation N.V., one of the world’s leading Car-as-a-Service companies and a leading Pan-European used-car market place, today reports its Q1 results.
Q1 2019 financial highlights
• Net result stable at EUR 132.0 million • Adjusted net result down 7.1% to EUR 149.6 million due to long-term strategic investments of EUR 16.8 million in Digital and CarNext.com • Serviced fleet up 3.1% with growth in both Europe and the rest of the world • Leasing and Car-as-a-Service (CaaS) underlying gross profit up 4% to EUR 390.8 million • Profit and loss on disposal of vehicles (PLDV) and end of contract fees underlying gross profit down from EUR 25.2 million to EUR 18.8 million as a result of EUR 10.8 million lower PLDV • CarNext.com B2C volumes up 40% to 14,700 vehicles in Q1 and a 21% run rate for B2C sales penetration; Used Car-as-a-Service (UCaaS) contracts up 22% • Underlying return on equity down slightly to 16.7%
Link to the full press release:
We delivered solid results in both of our businesses this quarter, while continuing to make significant strategic investments in CarNext.com and our Digital LeasePlan initiative.
In our core Car-as-a-Service business for new cars, which operates under the LeasePlan brand, our fleet grew by a healthy 3% and we delivered solid growth in both our Repair & Maintenance and Damage & Insurance services. We also successfully issued our first ever green bond, which we will use to purchase or refinance electric vehicles. The high level of demand for the bond was a clear indication of support for our sustainability strategy from European investors and will help us to accelerate the transition to zero emission mobility.
