Leasys grows fleet as profits and operating margin increases

Leasys total earning assets exceeded €10.2 billion (£8.5bn) – up 36% year-on-year – fuelled by growth of corporate customers (+32%), with its managed fleet growing by 4% to 906,000, according to its full year financial results for 2024.  

Owned by Stellantis and Crédit Agricole, the Group closed 2024 with more than 243,000 contracts activations, representing 87% year-on-year growth. 

This has been achieved thanks to a set of initiatives deployed in coordination with Stellantis in relation to the full consolidation of activities between Leasys and F2M Lease started in April 2023.  

The most positive performances, it said, have been obtained on the light commercial vehicles (LCV) segment with contracts intake tripling versus 2023 and on electrified vehicles, with an increase of contracts of 50% over the same period.

Compared to 2023, the penetration on Stellantis sales increased by nine points in the B2B channel and by 21 points in the long-term rental channel. 

The margin on leasing increased by 28%, compared with 2023, to reach €230 million (£193m), while the margin on services grew by 46% year-on-year, reaching €93m (£78m).

The strong growth of its ‘organic’ margins has helped Leasys mitigate the effects of the used market, a trend that has impacted the entire long-term rental industry. 

The Group still managed to post very strong remarketing results, closing the year at €65m (£54m).

Gross operating margin (net banking income) reached €388m (£326m) – 12% year-on-year growth.

Leasys closed 2024 with profit before tax of €173m (£145m) and adjusted net income of €112m (£94m), both in line with last year’s performance.

Rolando D’Arco, Leasys CEO, said that last year had been marked by “consolidation and growth”.

“Following the integration with Free2Move Lease and the acquisitions in Portugal and Luxembourg, both completed in 2023, this was Leasys’ first full year in its present setup,” he explained.

“Its resilience and flexibility in adapting to fluid market scenario, combined with a strong commitment to pursue innovation, digitalization and sustainability allowed Leasys to close the year with very strong commercial and financial results. 

“Managed Fleet reached 906,000 vehicles and Earning Assets exceeded €10.2bn. 

“In 2025, Leasys will continue implementing strategies designed to enhance its customer experience, while further strengthening its position as a leader in the long-term rental and sustainable mobility”