Almere, Netherlands, 20 August 2014 – LeasePlan Corporation N.V., the world’s leading fleet management and driver mobility company, today announces its results for the first half year of 2014.

FINANCIAL HIGHLIGHTS H1:
- Net profit increased by 18.2% to EUR 202.3 million (H1 2013: EUR 171.1 million)
- Capital and liquidity position further strengthened; Common Equity Tier 1 ratio at 17.9% (16.9% at year-end 2013 and 16.1% in H1 2013)
- LeasePlan Bank retail deposits stable at EUR 4.2 billion at half year-end
- Total assets EUR 18.6 billion in H1 2014 (EUR 19.1 billion at year-end 2013 and 20.1 billion in H1 2013)


OPERATIONAL HIGHLIGHTS H1
- Number of vehicles under management up to 1.38 million from 1.37 million at year-end 2013
- New franchise in Canada open
- Continued roll out of value add services including Telematics and Consultancy Services

KEY NUMBERS H1
30 June 2014 30 June 2013
Profitability
Net profit (EUR million) 202 171
Return on equity 15.5% 14.2%

Volume
Total assets (EUR billion) 18.6 20.1
Number of vehicles (thousand) 1,381 1,361
Number of staff (nominal) 6,731 6,518

Solvency
Common Equity Tier 1 ratio 17.9% 16.1%


Vahid Daemi, CEO of LeasePlan: “Building on LeasePlan’s consistent track record of growth, our company continued to deliver a strong performance, both operationally and financially. The fact that LeasePlan has performed at such a level over a period where economies have been under sustained pressure is testament to the group’s customer-focus and the determined way in which LeasePlan entities have built long lasting client relationships. Structurally our global business is in good shape. In terms of performance, the vast majority of LeasePlan’s income streams across the vehicle value chain, continued to contribute positively to the net result in the first half of the year. Of significant note was the sharp rise of EUR 60 million in the result of terminated contracts to EUR 121 million, compared to the same period last year. As in 2013, the second hand vehicle market for well-maintained ex-lease vehicles provided a solid revenue stream for LeasePlan, particularly in mature European markets such as France, Germany, Spain, the Netherlands and the UK.”

FLEET SIZE
The size of the fleet under management rose slightly to 1.38 million from 1.37 million at year-end 2013. This rise is mainly attributable to emerging markets such as Mexico and Brazil but also some East European countries had more vehicles under management compared to 2013.


SHIFT OF FOCUS TOWARDS SERVICES BUILT AROUND THE DRIVER
LeasePlan is at the forefront of the shift from services built around the vehicle to services built around the individual driver. Across LeasePlan’s global operations a range of driver centric services have been developed and implemented, such as My LeasePlan – a portal to serve drivers. Additionally, the introduction of client contact centres and mobile technologies provide 24/7 access to vehicles services, maintenance and repair, which has improved the ease and efficiency for clients and drivers to manage their mobility needs.
The next driver centric trend is in vehicle telematics. LeasePlan is one of the first leasing companies to use its fleet management expertise to further exploit vehicle and driver data to benefit its clients. LeasePlan has conducted a number of trials with clients that have resulted in demonstrable improvements in fuel costs and reduction of driver incidents and vehicle emissions. LeasePlan’s telematics services have recently become available in Italy, Spain and the UK.

NEW AVENUES FOR FURTHER WORLDWIDE GROWTH
One of the strategic priorities for the years to come is to develop new avenues for further worldwide growth. LeasePlan will continue its strategy of selective geographic expansion. At the beginning of the year, presence in North America increased by opening a new franchise in Canada. LeasePlan is now present in 32 countries.
The company continually looks for new ways to improve its products and services for example in fleet consultancy services and full outsourcing solutions such as FleetPlan. Clients save time and money and receive a hassle free driving or fleet management experience. In the first months of the year LeasePlan has taken its Consultancy Services to the next level with a fully trained and connected international network of consultants.

APPOINTMENT CCO
To further emphasise the importance of its long term growth strategy and customer focus, LeasePlan has decided to appoint a Chief Commercial Officer (CCO) to join the Managing Board of LeasePlan Corporation. Nick Salkeld currently Senior Vice-President for the company’s Southern Europe and Pacific Region, will be appointed in this role with effect from 21st August 2014.

STRONG LIQUIDITY AND CAPITAL POSITION
LeasePlan’s capital and liquidity position has further strengthened with the Common Tier 1 ratio, as calculated under the new stricter CRD IV regime for solvency and liquidity, increased to 17.9% compared to 16.9% at year-end 2013 and remaining firmly above the Basel requirements.
In May this year the company repaid the final tranche of Dutch government guaranteed bonds (EUR 1 billion) bringing a close to the bonds that the company issued under the government guarantee scheme. LeasePlan’s diversified funding strategy continues to deliver broad based institutional and retail support resulting in a very robust liquidity position at the half year end with cash and committed facilities of more than EUR 4.0 billion.
The amount of retail deposits entrusted to the LeasePlan Bank in the Netherlands remained stable at EUR 4.2 billion at half year-end.
Total assets decreased to EUR 18.6 billion in the first half of 2014, compared to EUR 19.1 billion at year-end 2013, mainly as a result of the pay back in May of the last government guaranteed bond. Other factors are currency effects and a trend in certain fleets towards the purchase of less expensive vehicles.
In March Moody's affirmed our Baa2/P2 rating with a stable outlook. In April Fitch affirmed our A-/F2 rating with a stable outlook.

OUTLOOK FOR THE SECOND HALF OF 2014
LeasePlan has delivered strong operational and financial performance in the first half of 2014 and remains positive going forward on the structure of its business operations and the resilience of its diversified income streams. The company believes its risk mitigation measures will continue to pay off in the second hand vehicle market. In terms of the company’s largest markets in Europe, recent indicators and developments point towards continued uncertainty in the strength of economic recovery. Despite the challenging circumstances, LeasePlan will continue to place emphasis on growing its fleet. Overall LeasePlan expects its business to maintain momentum and achieve a positive result over the next six months 2014, although not necessarily at the same pace as the first half of the year.


-Ends-

LEASEPLAN APPOINTS NICK SALKELD
TO MANAGING BOARD IN NEW CCO POSITION

Almere, Netherlands, 20 August 2014 – LeasePlan Corporation N.V., the world’s leading fleet management and driver mobility company, today announces that it has decided to establish a Chief Commercial Officer (CCO) position within the Managing Board. Nick Salkeld, currently Senior Vice-President for the LeasePlan companies located in Southern Europe and Pacific Region, will be appointed in this role with effect from 21st August 2014. In this role Nick will focus on the commercial and competitive strategy of LeasePlan on a global basis for all LeasePlan companies including LeasePlan International.

Vahid Daemi, CEO of LeasePlan Corporation commented: "We have a strong track record of financial results and we need to continue this momentum and build an even stronger future. One of the company’s main strategic priorities for the years to come is to develop new avenues for additional growth. Nick's role will be to lead this drive for our LeasePlan countries and our LeasePlan International business as well as to focus on delivering products and services that meet the changing needs of our clients. He brings proven business and commercial experience to our Managing Board and we are delighted to welcome him to our team."

Nick Salkeld has been with LeasePlan for over 20 years, starting at the company's Automotive Leasing business in the UK, then as Commercial Director for LeasePlan UK before moving on to become Managing Director of LeasePlan International. Nick became Senior Vice-President for LeasePlan Corporation in 2004 covering the Northern Europe Region before moving to his current role in 2006. Prior to joining LeasePlan, Nick worked for Ford Motor Credit Company and then Nissan in the UK.

Nick Salkeld commented: “I am delighted to be taking on this new role within the company at what is a very exciting time for our business. LeasePlan is always challenging itself to continuously look for new and innovative ways to grow our business and to use our strong reputation and market leading position to strengthen our service offering to our clients. I am looking forward to working closely with my colleagues on the Board and all the LeasePlan team worldwide to further build our business both organically and through other market opportunities, and to continue our focus on delivering outstanding service to our clients."

Following this appointment, the Managing Board of LeasePlan consists of four members:
Vahid Daemi - Chief Executive Officer – Chairman
Guus Stoelinga - Chief Financial Officer
Sven Huster – Chief Operating Officer
Nick Salkeld – Chief Commercial Officer