LeasePlan has said it’s looking at potential Initial Public Offering (IPO) after reporting strong first half results.

LeasePlan mulls IPO

In a statement the leasing giant said it was reviewing an IPO as part of a range of strategic options, with further updates to be provided.

The move could see it follow in the footsteps of ALD, which floated in June, raising €1.2 billion, and comes two years after Volkswagen and fleet management firm Fleet Investments have completed the divestment of their 100% shareholding in LeasePlan to a consortium of long-term investors for €3.7 billion.

For the first half of 2017, LeasePlan reported underlying gross profit up by 4.3% to €799.7 million, on the back of fleet growth and higher contributions from all core lease related income streams. Underlying net result was up 18.2% to €291.7 million.

Fleet growth was up 5.7% compared to the end of June 2016, reaching 1.71 million vehicles under management, with LeasePlan attributing the growth to continued fast growth of its SME business, several new international clients and smaller corporate client wins.

The firm also reported increased demand from international customers for consultancy services in the second quarter, covering areas such as cost optimisation and fleet policy, and continued interest from a wide range of corporate customers in sustainable lease solutions and low-emission value propositions.