2011 Year in Review
Eindhoven, March 20, 2012 – “We are on the right track,” says CEO Ronald Slaats of De Lage Landen, a global provider of high-quality asset-based financing products to manufacturers and distributors of capital goods and end users. De Lage Landen reported today a substantial growth of its total managed credit portfolio with 8.5% to €29,5 billion ($38,1 billion) against a comparable value of €27,2 billion ($35,2 billion) in 2010. De Lage Landen’s operating income showed a double-digit growth of 11% to €1.32 billion ($1,83 billion) from €1.18 billion ($1,65 billion). The company’s net profit increased with €102 million ($208 million) to €303 million ($422 million) *.
“In 2011 we successfully focused on improving the quality of our portfolio, our cost structure and risk management,” says De Lage Landen CEO Ronald Slaats. “I strongly believe our accomplishments -that are quite extraordinary in the current market dynamics- are the result of our partners and our global business units working more closely together. Our results prove that we are on the right track.”
De Lage Landen now operates in 35 countries with over 5,400 FTEs.
Within Vendor Finance division, the biggest contributor to De Lage Landen’s portfolio, a portfolio growth of almost 17% was achieved by an equal contribution of all business units within this division. Its different regions have also shown a steady and uniform growth in performance.
Financial solutions, covering factoring, equipment leasing and consumer credit, increased credit volume with 16% compared to 2010.
Athlon Car Lease, De Lage Landen’s subsidiary for mobility solutions, showed steady results and increased its portfolio size with 6%.
The company will increase its focus on new business divisions in Turkey, Chile and India while stimulating the growth of its global Clean Tech business unit as well. In 2011, De Lage Landen has won the “Green Lessor of the Year” award for the second consecutive time.
“We want to anticipate on the changes in the world around us, like lease accounting changes and scarcity of raw materials,” explains Slaats. “We aim to have a more strategic role in managing the lifecycle of assets, which enables us to facilitate our partners even better.” De Lage Landen therefore designed a long term vision focusing on environmental and economical sustainability. Slaats: “Next to our services in the field of sustainability, we will further cultivate long-term partnerships and innovative industry expertise. That’s how we will continue to offer a wide range of value-added solutions to our markets.”
* March 2012 exchange rates