Leaseplan, a lessor and fleet management specialist, is another
example of a giant finance company that is smoothly sailing through
the credit crunch debacle – and it does not expect an awful lot of
change in 2008.
While, in the car-finance market, it may face problems selling
used cars, it expects to keep its head very much above water thanks
to having access to funds for the next 11 months and because of its
financial strength.
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Last year, net profits grew 13.4 per cent to reach €239.2m,
while operating income rose just less than 5 per cent to €940m. Its
number of financed units increased by 57,000 to reach 1.3m.
Last year, it set up operations in Turkey and Romania, and, this
year, it looks set for further growth with its acquisition of the
French arm of Daimler Chrysler Fleet Management, known as DCS
Fleet, from Mercedes-Benz Financial Services.The deal, which is
subject to French and Dutch regulatory approval, will add an extra
20,000 units to its fleet of 100,000 vehicles in France.
Leaseplan’s UK arm added another 6,500 vehicles to its total
fleet size of 133,000 units.
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