Leasys, the joint venture equally owned by Stellantis and Crédit Agricole Consumer Finance, has celebrated its first birthday since the consolidation with Free2move Lease, by posting strong FY 2023 results.

Leasys said the financial and commercial results were a direct consequence of its ‘Go to Market Strategy’

The results reveal a 32% year-on-year increase in assets to €7.5bn (£6.4bn), with total sales revenues up 15% to €1.9bn (£1.6bn). Gross operating margin grew by 11%, reaching €347m (£297.8m).

Orders reached 177,000 units, up 45% compared to 2022, while the managed fleet increased by 5%, reaching 870,000 vehicles at an EU level, in line with the one million vehicles target set to be achieved by 2026.

This included a nine-percentage point rise in the penetration on the Stellantis long-term rental channel to 43%. The group saw also an improvement of its performance on multi-brand (+62%), low-emission vehicle (+40%) and LCV (+115%) contracts.

Rolando D’Arco, Group CEO, stated: “2023 was a key year for Leasys, as we managed to deliver successful results in a context of historical change, related to the completion of the consolidation process between Leasys and Free2Move Lease. In a rather mutable macro-economic environment, these very positive results, represent a testament to our capabilities as well as a concrete step towards our future ambitions.

“I would like to thank our entire team for their resilience and continuous dedication: their commitment towards excellency is the key element fuelling the engines of our growth. We have already approached 2024 in the same spirit, ready to make our mark and to continue our pursuit of value creation for all stakeholders.”

Leasys said the financial and commercial results were a direct consequence of its ‘Go to Market Strategy’, which is based on five pillars. These include ‘Promoting Digital Transformation’, which has notably seen the launch of the Leasys E-commerce platform, piloted in the Netherlands and soon to be deployed throughout the rest of its footprint, and the enhancements of My-Leasys, the digital gateway dedicated to fleet managers, with the aim of supporting them to achieve economies of scale and TCO optimisation.

The second pillar is ‘A Continuous Commitment For Quality’ – and the firm said plans for 2024 include continued investment in technologies to promote innovation and enhance its products and services catalogue with the aim of providing a “best in class” customer experience.

Other areas include ‘Funding Diversification and Opex Optimisation’; ‘Spearheading Sustainability in Mobility’ and ‘Managing Change By Fostering Talent And Engagement’.