LeasePlan announces Q1 2019 results

1 min to readLeasePlan Newsroom
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.
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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:

LEASEPLAN Q1 2019 RESULTS

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.

Tex GunningCEO LeasePlan
Published at May 23, 2019

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May 23, 2019
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