LeasePlan announces Strategic Update and strong Full Year 2017 results
LeasePlan Corporation N.V., a global leader in fleet management and driver mobility, today reports strong Full Year 2017 results. LeasePlan also announces a Strategic Update to deliver 'any car, anytime, anywhere'.
Financial Highlights Full Year 2017
- Underlying net result1 of EUR 532 million, up 17% year on year after EUR 40 million of incremental operating expenses to invest in long term growth
- Net result of EUR 467 million, up 10% versus 2016
- Underlying return on equity 16.7%, up 173 bps
- Serviced fleet2 growth of 5.5% with 1.7 million cars on the road
- 'The Power of One LeasePlan' operational excellence programme delivered savings of EUR 130 million
- Clear strategic focus on two large and growing markets in Europe3:
- 'Car-as-a-Service' (CaaS) for new cars, a growing EUR 68 billion market
- High-quality 3-4-year-old used car market, a growing EUR 65 billion market
- LeasePlan is focused on leading the megatrend from ownership to usership to subscription in both the new and high-quality used car markets, and on ultimately delivering 'any car, anytime, anywhere'
- Introducing CarNext.com: a disruptive B2C and B2B digital marketplace that enables customers to buy, lease and subscribe to high-quality used cars in Europe
- Continuing to deliver 'The Power of One LeasePlan', a programme to drive operational excellence globally by implementing best practices and leveraging LeasePlan's scale along all elements of the value chain and across all LeasePlan countries. 'The Power of One LeasePlan' is targeting a EUR 370 million underlying profit before tax uplift in the medium term compared to the 2016 baseline
- Launching LeasePlan Digital to transform the company from an analogue business into a fully digitally-enabled business, delivering digital services at digital cost levels, leveraging the latest digital intelligence technologies
- Commitment to lead the transition from internal combustion engines to alternative powertrain fleets, targeting net zero emissions from LeasePlan's fleet by 2030