CarNext.com investment weighs down LeasePlan’s Q3 result
LeasePlan’s underlying net result for the third quarter of 2019 was down 5% to €140 million, due mainly to the lease company’s strategic investments CarNext.com. However, LeasePlan’s remarketing subsidiary was able to post 26% B2C volume growth (to 16,750 vehicles) and B2C sales penetration run rate up to 24%.
Underlying lease and additional services profit were up 1%, while the serviced fleet grew by 2% - translating into a stable result for LeasePlan’s ‘Car-as-a-Service’ business.
“We delivered a solid performance in both of our businesses (i.e. CaaS and CarNext.com) this quarter,” maintained CEO Tex Gunning. “In our CaaS business, the SME segment showed strong growth, supported by the rollout of our fully online SME car showroom, which is now available in seven countries (…) CarNext.com also continued to grow, particularly in B2C sales, supported by three new store openings and the introduction of our industry-first 100% online delivery solution.”