AMSTERDAM, the Netherlands, 31 August 2017 – LeasePlan Corporation N.V. (LeasePlan; the “Company”), a global leader in fleet management and driver mobility, today reports its quarterly and half year (6M) 2017 results1.
H1 2017 highlights2
• Underlying net result3 up 18.2% to EUR 291.7 million and underlying return on equity4 up 2.1 percentage points to 18.5%.
• Fleet growth of 5.7% compared to end-of June 2016, reaching 1.71 million vehicles under management. Fleet growth was fuelled by continued fast growth of our SME business, several new international clients and smaller corporate
client wins.
• Underlying gross profit increased by 4.3% to EUR 799.7 million, on the back of fleet growth and higher contributions from all core lease related income streams, partially offset by anticipated lower vehicle sales results.
• Underlying overhead costs decreased by 5.6% to EUR 419.1 million as a result of the early benefits of the Power of One LeasePlan, a global programme of operational improvements across all functions and geographies.
• LeasePlan maintained a solid capital position and well diversified funding mix, contributing to its strong resilience and improved capital efficiency.
Key numbers
Q2 2017 Q2 2016 6M 2017 6M 2016
Profitability
Underlying net result (EUR million)3 145.9 125.9 291.7 246.9
Underlying return on equity4 18.5% 17.0% 18.5% 16.4%
30 June 2017 30 June 2016
Volume
Number of vehicles (millions) 1.713 1.621
Tex Gunning, CEO of LeasePlan:
“LeasePlan delivered yet another strong set of results in the first half of 2017, highlighting again the strong growth, cash flow generation and resilient nature of our business. We have more cars on the road than ever before and, at the same time, our underlying net result and return on equity continued to increase. These strong results further demonstrate the positive impact of our “Power of One LeasePlan” operational excellence initiative, which ,was successfully rolled out during the first half of 2017. This initiative enables us to leverage the strength of our organisation across all LeasePlan countries, the value chain and our functional competencies - enabling us to quickly unlock significant additional value for our customers and investors.”

1 The information in this press release has neither been audited nor reviewed. The condensed interim financial statements for the period ending 30 June 2017 have been reviewed.
2 % refer to year-on-year growth unless otherwise mentioned.
3 Underlying net result consists of net result adjusted for unrealised result on financial instruments, one-time items related to sale of subsidiaries, the Power of One LeasePlan initiative and the tax effect thereof. For the reconciliation between the underlying net result and the reported IFRS net result, reference is made to the table on page 2 of this press release.
4 Underlying return of equity is calculated as underlying net result (annualised) divided by the average (tangible and intangible) equity over the related period

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