Leasys, the joint venture between Stellantis and Crédit Agricole Personal Finance & Mobility, has reported robust full-year results for 2024, showcasing significant growth across key metrics despite a rapidly evolving automotive market.
The company recorded 243,000 new contract activations, marking an 87% year-on-year increase, while its corporate customer fleet expanded by 32% to 131,000 vehicles. The managed fleet grew to 906,000 vehicles, a 4% increase, bringing Leasys closer to its target of 1 million vehicles by 2026.
Total earning assets surpassed €10.2bn, up 36% from 2023, with an average outstanding of €8.6bn. The company maintained stable profitability, posting a profit before taxes of €173m and an adjusted net income of €112m. The gross operating margin (net banking income) grew by 12% to €388m, while the cost-income ratio, excluding margin on used car sales, remained steady at 51%.
Commenting on the results, Rolando D’Arco, CEO of Leasys, stated: “2024 has been a year marked by consolidation and growth. Following the integration with Free2Move Lease and the acquisitions in Portugal and Luxembourg, both completed in 2023, this was Leasys’ first ‘full’ year in its present setup. Its resilience and flexibility in adapting to fluid market scenario, combined with a strong commitment to pursue innovation, digitalization and sustainability allowed Leasys to close the year with very strong commercial and financial results. Managed Fleet reached 906,000 vehicles and Earning Assets exceeded €10.2bn. In 2025, Leasys will continue implementing strategies designed to enhance its customer experience, while further strengthening its position as a leader in the Long Term Rental and sustainable mobility.”
The company attributed its strong performance to strategic initiatives in collaboration with Stellantis, particularly the full consolidation of activities between Leasys and F2M Lease that began in April 2023. Growth was driven by a tripling of contracts in the light commercial vehicle segment and a 50% increase in contracts for electrified vehicles. Leasys also reported an increased penetration of Stellantis sales, rising by nine points in the B2B channel and 21 points in the long-term rental channel.
Leasys continued its focus on innovation and digital transformation, launching its e-Commerce platform, Leasys e-Store, in Italy, the UK, and the Netherlands, with Spain set to follow. “Going digital allowed the company to foster innovation and pursue internal efficiency, while improving the quality of its customer experience,” the company stated. Additionally, the relaunch of My-Leasys, a fleet monitoring platform for corporate customers, introduced new features to optimise rental costs and vehicle management.
The company also reinforced its commitment to sustainability with the launch of two products aimed at promoting low-emission mobility: e-Move, a long-term rental package including public and home charging solutions, and RE-USE, a re-rental solution for used full-electric and plug-in hybrid vehicles. Both initiatives support circular economy principles and emissions reduction.
Looking ahead to 2025, Leasys aims to strengthen its market presence while advancing sustainable mobility and digital solutions aligned with Stellantis’ growth strategy. The company reaffirmed its commitment to customer experience excellence, stating: “Customer experience remains at the heart of the Group’s priorities: the objective remains to deliver an excellent service that always exceeds customers’ expectations.”
