LeasePlan has published its first quarter 2017 results, showing a rise in profits and turnover on the back of an increase in its fleet size.

LeasePlan reported a rise in profits and turnover on the back of an increase in fleet size.

The results show that gross profit increased by 5% year on year to EUR 399 million while total underlying revenues were up by 6% to EUR 2.4 billion compared to Q1 2016. Lease revenues increased by EUR 115 million, largely driven by a 6.3% increase in the number of vehicles under management, which rose from 1.6 to 1.7 million. Growth continued in all segments and in all major markets with relatively strong contributions from Germany, the Netherlands and Italy.

LeasePlan also reported a continued increase in demand from international customers for consultancy, covering areas including cost optimisation and fleet policy. Sustainability was also a growth area, with a strong interest among corporate customers for low-emission value propositions.

Other developments in Q1 include the launch of a new Electric Vehicle Centre of Expertise, and a pan-European partnership with Uber.

Looking ahead, LeasePlan said it foresees sustainable growth in corporate, small and medium enterprises and private lease markets, as well as in the ‘mobility as a service’ market segment.

The business will also relocate its head office from Almere to Amsterdam. As of 6 June 2017, LeasePlan Corporation will be located in the UN Studio building, (Gustav Mahlerlaan) in the Zuidas business district. LeasePlan Bank will also move into the same building. LeasePlan Netherlands’ office remains in Almere.