The comments came from chairman and CEO Vahid Daemi as the company published its 2013 annual report.

As previously announced, the leasing giant achieved a record net result and made further progress with its growth strategy last year.

Mr Daemi said: ‘Overall, 2013 saw further progress financially and strategically for LeasePlan. As we reflect on the year, there were three indicators that show that we continue to go from strength to strength. First, our net result for the year grew by 35% to EUR 326.4 million – a record level of performance that reflects our strong and balanced portfolio of businesses, the high quality of services delivered and the depth of our expertise. Secondly, further geographical expansion of our operations into major economies increased the international coverage of our leasing and mobility services to clients. Thirdly, 2013 marked our 50th anniversary and we showed that expertise, innovation and service continue to be the hallmarks of our ongoing global growth story.’

Commenting on the outlook for 2014, he added: ‘A number of key indicators point towards gradual improvements, mainly in European economies where we are present. As market leader we are well positioned to benefit from this development. We expect, however, the pace of recovery to be slow and it has yet to be seen what the full effect thereof will be on our markets.

‘In 2013 we profited from exceptional circumstances in second hand vehicle markets. While we do not expect these very favourable conditions to endure, we believe our risk mitigation measures will continue to pay off. During 2014, we will put strong emphasis on further sustainable and profitable growth of our portfolio, as this has always been an important driver for the progress of our business.’