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August 27, 2009updated 12 Apr 2017 4:33pm

Net profit drops, credit portfolio increases for DLL

De Lage Landen (DLL) has recorded a 47 million net profit in the first half of 2009, a 58 percent decrease from the 112 million figure recorded in the same period last year. The Netherlands-headquartered company explained that a significant deterioration in the second-hand car market and an increase in the price of risk negatively impacted mid-year results DLLs credit portfolio, however, increased to 23.3 billion from 21.3 billion last year, and the company said it achieved results in line with estimates in its vendor finance activities.

By Antonio Fabrizio

De Lage Landen (DLL) has recorded a €47 million net profit in
the first half of 2009, a 58 percent decrease from the €112 million
figure recorded in the same period last year.

The Netherlands-headquartered company explained that a
significant deterioration in the second-hand car market and an
increase in the price of risk negatively impacted mid-year
results.

DLL’s credit portfolio, however, increased to €23.3 billion from
€21.3 billion last year, and the company said it achieved results
in line with estimates in its vendor finance activities.

“Given the current circumstances, DLL really can’t complain,”
said DLL’s CEO Ronald Slaats.

“We have our costs under control, new business volume is looking
good and new business margins are in general good.”

The company said it is readying itself for the post-recession
period, and will focus more on expanding its presence in emerging
economies such as Eastern Europe and Asia.

The Dutch lessor said it will also strengthen partnerships with
vendors to develop initiatives in the fields of recycling, clean
technology and electric vehicles.

Antonio Fabrizio

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