DLL Reports 17% Growth in Net Profit During H1/18



DLL recorded net profit of €242 million ($293 million) in the first six months of 2018, which represented a 17% increase over the prior year.

“These strong interim results were made possible by an engaged and talented workforce committed to delivering a first-class experience to our vendor partners and their end-customers,” said Bill Stephenson, CEO and chairman of DLL’s executive board. “Our deployment of innovative technologies designed to improve the ease, speed and flexibility of doing business with DLL are also paying dividends in terms of productivity gains and increased customer satisfaction.”

The company’s managed portfolio balance increased by 4% over the prior year and totaled €32.2 billion ($37.5 billion). New business originations were down slightly when compared to the first half of 2017, but were impacted by the transfer of the domestic Dutch leasing and consumer finance business to Rabobank in 2017. Excluding these events and currency effects, new business originations from continuing operations also exhibited growth.

In a highly competitive market, the company reported all key performance indicators were trending within expected ranges.

“We continue to see downward pressure on pricing and margins, particularly within the North American market,” said Marc Dierckx, CFO and member of the executive board. “However, this trend has been offset by our disciplined management of both operating expenses and risk costs.”

The company also continued efforts to diversify its funding sources, including its second securitization in the U.S. market for €706 million ($824 million).

“The securitization transaction was part of DLL’s long term growth strategy to diversify our funding base and liquidity risk,” Dierckx said. “Going forward, we intend to pursue further transactions and will look at other opportunities to complement our primary source of funding, which continues to be our parent, Rabobank.”

“I am very pleased that DLL has such a strong foundation on which to build for the future, not only delivering continued growth and profit generation, but also making a real impact with our customers by providing them with essential financial flexibility and value,” Stephenson said. “Our unrelenting focus on disruptive innovation, coupled with our people and products, will further differentiate DLL as a market leader and position us for continued success in this highly competitive market.”


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