LeasePlan Q1 2021

LeasePlan announces Q1 2021 results

2 min to readLeasePlan Newsroom
LeasePlan Corporation N.V. (“LeasePlan”; the “Company”), one of the world’s leading Car-as-a-Service (“CaaS”) companies and a leading pan-European used-car market place, today reports its Q1 results.
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Q1 2021 financial highlights

This was the best quarter in the history of LeasePlan. This excellent performance is a reflection of the plan we put in place over a year ago to manage the impact of the COVID-19 crisis on our business, and was supported by strong used-car pricing, strong Damage and Insurance results, and lower than expected customer defaults due to our high-quality customer base.

The underlying strength of our business is confirmed by our record-high order book, although the global shortage of computer chips means some of this growth will be deferred to later in the year. We also continued to lead the transition to zero emission mobility in the industry, with EVs now representing 16.9% of new orders in Q1. In addition, CarNext made good progress in the quarter with the expansion of its ancillary service offering and online sales increasing exponentially.

Looking forward, we’re very excited about what’s next. The subscription megatrend means there is significant growth potential in all our key market segments. We are well placed to capture this growth thanks to our continuing transformation from a local analogue business model to a completely digital global business model, underpinned by our Next Generation Digital Architecture. Our approach is already producing results, including rapid growth in online sales in the SME and Private segments, which we expect will only accelerate as the digital leasing market expands.

Tex GunningCEO LeasePlan
Published at May 12, 2021
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May 12, 2021
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