ALD LeasePlan results reveal global risk fleet size

ALD LeasePlan has revealed it has a global risk fleet of more than 2.6 million vehicles.

Publishing its half-yearly financial results, ALD LeasePlan’s gross operating income (GOI) reached €1.5 billion (£1.3bn) in H1 2023, up 23.8% compared to the first six months of 2022.

The increase was predominantly driven by exceptionally high used car prices.

Its net income was €564.5m (£486m) in H1 2023, down 7.9% from the historical high of €612.8m (£527m) in H1 2022.

Total contracts for ALD LeasePlan stood at almost 3.4 million as at end June 2023, up by 4.3% compared to end June 2022. LeasePlan’s contribution amounted to 1.6 million contracts as at end June 2023.

Fleet management contracts, meanwhile, increased by 9.1% versus June 2022, to reach 724,000 vehicles. Year-on-year growth was primarily driven by a new banking partnership.

The results come after ALD’s £4.1 billion (€4.8bn) acquisition of LeasePlan was completed by a consortium led by TDR Capital in May. 

Tim Albertsen, CEO of ALD LeasePlan, said: “Having finalised the acquisition of LeasePlan last May, our teams are thrilled to embark on this exciting journey and to leverage on our strengths and complementarities to create the leading global sustainable mobility player in an industry where size matters.  

“The integration of LeasePlan is progressing according to plan. A number of key initiatives, led by the industry’s best talent, are well underway.

“Two months into the integration, we’ve already reached our first objectives. We will continue executing our integration plan at the same rapid pace and I am confident that we will start reaping some benefits very soon.”

Albertsen says that these first results of ALD LeasePlan as a combined entity are “strong and promising", supported by a "highly favourable" used car market and the efforts of staff.

He continued: “They testify to the solidity and resilience of our business model in a rapidly changing macroeconomic environment.

“I have no doubt that the combined entity will be able to capitalise on this transformative deal to create value for all stakeholders.”

Leveraging on the acquisition of LeasePlan, ALD LeasePlan expects for the full-year 2023 its funded fleet to grow between 2% to 4%, compared to December 2022.