company LeasePlan’s results for 2008 show that the lessor’s net
income dropped by 13.7 percent compared with 2007, to €208 million
lessor had been hit by “the significant downturn in the second-hand
car markets and, to a much lesser extent, the lower interest margin
due to higher funding costs as a result of the turmoil in the
financial markets.” Nevertheless, he said, LeasePlan had “achieved
good results in 2008”.
The lessor’s total number of units under management grew by 5.8
percent to reach 1.4 million, while its lease portfolio expanded by
2.5 percent, or €348 million (£ million) to €14.2 billion –
equating to an increase of 7.6 percent, once currency fluctuations
are taken into account.
During the past 12 months, LeasePlan acquired DaimlerChrysler
Fleet Management France, which has been renamed DCS Fleet, and
opened a subsidiary in Mexico. It was also the first Dutch bank to
be granted a guarantee under the Dutch government’s credit
guarantee scheme in December 2008.
Daemi commented: “In view of the current economic circumstances
we will for the time being slow down the pace of our expansion and
focus on consolidating our market position and portfolio.
“Although 2009 is expected to be even more challenging than the
previous year, we are confident that our organisation is well
placed to achieve satisfying results this year.”