LeasePlan, a car-as-a-service platform out of Europe, recently revealed their financial results from the third quarter with a net profit of €124 million, a 85% increase compared to last year.
The firm noted that the Turkey fleet impairment in Q3 in 2018 had an impact on the results.
For the year-to-date, the company achieved an underlying profit of €430.6m – down 8.1% year-on-year.
LeasePlan’s Car-as-a-Service business for new cars showed service fleet growth in key markets, while the company continued to digitalise fleet operations. This included the roll out of its online showroom for the SME segment and the implementation of digital customer onboarding process in one European market.
The company also deployed its full package EV solution to 12 countries, contributing to its 2030 net zero emission fleet target.
CarNext.com, LeasePlan’s European used car marketplace, saw B2C volumes grow 26% to 16,750 vehicles. The business also expanded its online delivery solution, now available in 14 European countries.
Tex Gunning, Chief Executive of LeasePlan said: “We delivered a solid performance in both of our businesses this quarter as we continued to make strategic investments in CarNext.com. In our Car-as-a-Service business, the SME segment showed strong growth, supported by the roll out of our fully online SME car showroom, which is now available in seven countries."
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