ROME (ITALPRESS) – Leasys, a 50/50 joint venture between Stellantis and Crèdit Agricole Personal Finance & Mobility, presents its business and financial results for the year 2024.
“In a context of great transformation for the European automotive market,” reads a note, “the Group continues to grow, demonstrating resilience and adaptability. In terms of commercial results, the Group ended 2024 with more than 243 thousand contracts activated, a growth of 87 percent year-on-year.
“This result,” the note continues, “was achieved thanks to a series of synergistic initiatives launched in coordination with the shareholder Stellantis and is the result of the full consolidation of activities between Leasys and F2M Lease launched in April 2023. The most positive performance was recorded in the light commercial vehicle segment, with the number of contracts tripled compared to 2023, and by electrified vehicles, whose activations increased by 50 percent over the same period. Compared to 2023, penetration on Stellantis sales increased by 9 points on the B2B channel and 21 points on the Long-Term Rental channel.”
In addition, the managed fleet grew by 4% to 906 thousand units, driven by growth in corporate customers (+32% vs 2023), in line with the planned goal of reaching one million cars by 2026.
In terms of financial performance, Asset Value exceeded 10.2 billion euros, up 36% from 2023, with average loans reaching 8.6 billion euros (up 38% vs. 2023).
Also according to Leasys’ disclosure, the Margin on Rental reached 230 Million Euros (+28% vs. 2023) while the Margin on Services grew 46% year-on-year to 93 Million Euros.
Strong growth in “organic” margins helped mitigate the effects of the significant normalization of performance in the Used Vehicle Market, a trend that impacted the entire long-term rental industry.
For Leasys, the Margin from car sales was still positive, with the closing result standing at 65 Million Euros. Total Gross Operating Margin reached 388 Million Euros, up 12 percent year on year.
Leasys, the note continues, “also confirmed its virtuous commitment to operational efficiency: operating expenses, though nominally up at 168 million euros, stood at 1.94 percent of average loans, down 7 basis points from 2023. A further indicator certifying the Group’s financial discipline is its Cost to Income ratio, unchanged from last year, at 51 percent. Including margins from Remarketing activities, the Cost to Income Ratio drops an additional 8 points, to 43%. Cost of Risk remains fully under control, at around 0.4 percent of average loans.”
Leasys ended 2024 with a pre-tax profit of 173 Million Euros and Adjusted Net Profit of 112 Million Euros, both in line with last year’s performance.
“The year 2024 was a year of consolidation and growth,” said Rolando D’Arco, CEO of Leasys, commenting on the Group’s results. “After the completion of the integration process with Free2Move Lease and the acquisitions in Portugal and Luxembourg in 2023, the year just passed was the first year for the new Leasys in its current configuration. Our ability to adapt quickly to market dynamics, focusing on innovation, digitalization and sustainable mobility, has resulted in a solid commercial and financial performance. Our managed fleet has exceeded 906,000 vehicles, and asset value has reached 10.2 billion euros. Looking ahead to 2025, we will continue to implement strategies to improve our customers’ experience, further strengthening our position as a leader in long-term rental and sustainable mobility.”
In 2025, Leasys “aims to strengthen its presence in its markets, guided by a clear vision and a well-defined strategy. The Group,” the note concludes, “will continue to pursue the promotion of sustainable mobility and develop new
digital and innovative projects, with the aim of supporting Stellantis’ ambitious growth plans, focusing on creating an increasingly competitive and accessible offer.
Leasys intends to prioritize constant dialogue and active involvement of employees, key elements for the company’s growth and development.”
– Mediability press office photo –
(ITALPRESS).
