Leasys, the vehicle leasing joint venture between Stellantis and Crédit Agricole, has reported strong growth in 2024, with new contract activations rising by 87% year-on-year to 243,000. The company’s managed fleet expanded to 906,000 vehicles, reflecting its continued consolidation and strategic expansion.
The company saw notable increases in key segments, including a threefold rise in light commercial vehicle (LCV) contracts and a 50% increase in electrified vehicle contracts.
Financial Performance and Market Position
Leasys’ total earning assets surpassed €10.2 billion, a 36% increase compared to 2023. Average outstanding assets stood at €8.6 billion. The company’s gross operating margin grew by 12% to €388 million, while profit before taxes reached €173 million, remaining in line with the previous year.
The leasing margin rose to €230 million, up 28% year-on-year, while the margin on services increased by 46%, reaching €93 million. Despite broader market challenges, Leasys maintained a cost-income ratio of 51%, demonstrating financial stability and operational efficiency.
Expansion and Fleet Growth
Leasys strengthened its position in the long-term rental (LTR) sector, increasing its penetration in Stellantis B2B sales by nine basis points and in the LTR channel by 21 basis points. The company’s corporate customer fleet grew by 32% to 131,000 vehicles, contributing to its broader goal of reaching one million managed vehicles by 2026.
Remarketing efforts also delivered strong results, generating €65 million, while the company kept operating expenses under control at €168 million, equivalent to 1.94% of average outstanding—a slight decrease of seven basis points.
Leasys CEO, Rolando D’Arco, described 2024 as a year of both consolidation and expansion following the integration of Free2Move Lease and acquisitions in Portugal and Luxembourg in 2023.
“This was Leasys’ first full year in its current setup. Our resilience in adapting to market dynamics, combined with a commitment to innovation, digitalisation and sustainability, has led to strong commercial and financial results,” he said.
Innovation and Sustainability Initiatives
Leasys continued investing in digitalisation and sustainability in 2024. The launch of the Leasys e-Store supported electric vehicle rentals, while enhancements to the My-Leasys platform improved fleet monitoring and encouraged paperless operations.
The company introduced new initiatives such as e-Move and RE-USE, aimed at promoting electrified vehicle adoption and a circular economy model.
Customer satisfaction also improved, with a 13% rise in the company’s Net Promoter Score (NPS), reflecting efforts to enhance customer experience measurement systems.
To support its growth, Leasys diversified its funding sources, securing €2.3 billion in bank lines and raising €2.7 billion through bond offerings. The company also focused on employee engagement across its 1,380-strong workforce in 11 countries, promoting work-life balance and participation in business process improvements.
Looking ahead, D’Arco confirmed Leasys’ commitment to strengthening its market leadership.
“In 2025, we will continue to implement strategies to enhance customer experience while reinforcing our position as a leader in LTR and sustainable mobility,” he said.