ALD Automotive has posted growth in its global fleet of 7.2% to reach 1.7 million in the first half of the year, according to its latest results.
Leasing contract and services margins increased by 4.4% to €638 million and gross operating income increased slightly by 1.6% to €681.1m.
Private lease fleet showed strong growth in H1 2019, up 36%, reaching 133,000 contracts at the end of June 2019.
ALD is confident of reaching its target of 150,000 contracts with private individuals by the end of the year.
ALD’s fuel mix on vehicles has dropped from 61% diesel to 47% year-on-year for the half year period.
ALD’s diesel passenger vehicle fleet is now almost purely ‘Euro 6’, with less than 29,000 ‘Euro 5’ passenger vehicles remaining and expected to be sold during the course of the year.
ALD now has over 118,000 hybrids and electric vehicles as part of its fleet at the end of June 2019.
The company recently completed a deal with Amazon in Spain to offering personal vehicle leasing to its customers.
Strategic developments for ALD so far this year also included the acquisition of BBVA Automercantil’s renting portfolio in Portugal and the completion of its Stern Lease acquisition in the Netherlands.
In June 2019, ALD also entered into a distribution agreement with Eroski, the retail supermarket chain based in Northern Spain. This agreement targets the distribution of full service leasing contracts to Eroski’s customers, employees and providers, through ALD’s digital platform and via dedicated pop up stores.
The company is on track for 5-7% organic growth in its total fleet volumes this year and this could increase further is ALD continues with its acquisition strategy.
Mike Masterson, ALD chief executive, said: “ALD has again proven its resilience in a complex environment, with fleet growth in line with expectations.
“Private lease continued to show strong dynamics and passed an important milestone in Spain, where ALD was selected by Amazon for the distribution of personal car leasing.
“This achievement illustrates our ability to deliver best-in-class services to our customers and the efficiency of our digital tools.”
Masterson said the shift away from diesel in its fleet has accelerated and he said ALD is continuing to actively promote electric and hybrid vehicles as part of its offering.
He said: “Our solid financial performance makes us confident we will reach the guidance we have set for 2019.
“We are convinced our strategy, built on expanding partnerships and state-of-the-art technology, leaves the business well positioned to be a leader in the mobility sector in the years ahead.”
