Fleet leasing and management company LeasePlan has revealed net profits for 2013 were 326m, up 35% on the 241m recorded in 2012.
According to LeasePlan, profits were helped by a combination of risk mitigation measures, improvements in various European second-hand car markets caused by the lack of young used cars, and a further relaxation on financial markets with decreasing spreads.
Go deeper with GlobalData
Despite the rise in profits, total assets dipped slightly, from 19.5bn to 19.1bn, which the company said was mainly the result of currency effects and a trend in certain fleets towards the purchase of cheaper vehicles.
The total number of cars in LeasePlan’s fleet rose slightly over the course of the year, from 1.35m to 1.37m. Staff numbers also increased, from 6,296 to 6,571, mostly due to acquisitions.
In October, LeasePlan was able to buy back 85% or US$500m (366.75m) of Dutch government backed bonds due to mature in June 2014, and intends to repay the total remaining bonds by May.
Overall bank retail deposits remained stable at 4.2bn year end, up from 4.0bn in 2012.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
