For the first three months of the year, the leasing giant reported a 1.9% increase in its global fleet to 1.58 million vehicles under management, from 1.55 million at the end of December 2015.

Total assets were up to 1.4% to €21.7 billion at 31 March 2016, from €21.4 billion at 31 December 2015. LeasePlan added that the increase reflects the positive development of its fleet size.

Q1 net profit stood at €117.4m, down 4.9% from €123.1m in Q1 2015.

The firm added that operational highlights of Q1 include a sustained growth in Small and Medium-sized Enterprises (SME),  Private Leasing and International & Corporate segments.

It also launched its new FlexiPlan flexible leasing solution, offering flexibility in contract duration and mileage, as part of LeasePlan’s strategy to be the one-stop-shop for corporate mobility needs.

Q1 also saw the LP Group B.V. consortium of long-term investors complete the acquisition of LeasePlan from Global Mobility Holding B.V.

Looking ahead, the company said of its outlook for 2016 that it’s “optimistic that, barring unforeseen economic circumstances, it will continue to reap the rewards of its strategic path. Although the competitive landscape will remain challenging in 2016, the company believes that all the fundamentals for further growth are firmly in place. LeasePlan will retain its added value for clients, drawing on its tailored products and services, its wealth of expertise, its excellent people and the reach of its global presence.”