LeasePlan ended the quarter with a net profit of 420 million euros. That’s an annual increase of over 300 percent. However, the profit figure is distorted by a book profit of €213 million on the sale of LeasePlan Australia and New Zealand and the privatization of the CarNext car platform, which was brought to its feet in July.
LeasePlan has sold more than 58,000 vehicles in the last period. That was down from nearly 67,000 cars last year, but the cars sold were more profitable thanks to higher prices. The turnover rose by about 11 percent to reach more than 2.6 billion euros. LeasePlan’s order book has hit a new record despite chip shortages slowing delivery of some new cars. The company’s rental fleet grew 2.4 percent in the third quarter to 1.8 million vehicles.
According to CEO Tex Ganning, “Record results show that LeasePlan has successfully emerged from the pandemic” and is ready “for a new era of exponential growth.” Gunning said fleet growth showed an upward trend in key sectors, while loan losses were less than expected. According to the CEO, these are “clear signs” that the customer base is returning to normal. LeasePlan also recently presented its ‘Drive to Zero’ sustainability strategy at the Glasgow Climate Summit, through which the company aims to reduce carbon dioxide emissions.
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