DLL Reports 7% Boost in H1/17 Managed Portfolio Balance
AUG 24, 2017 - 7:22 am
DLL recorded net profit of €207 ($223.7) million in the first six months of 2017.
“These strong first-half results continue to validate the strategic decision to focus on our leading global vendor finance business,” said Bill Stephenson, CEO and chairman of the executive board. “By providing innovative financial products, easy-to-use digital tools and a first-class customer experience, all delivered by our empowered and engaged workforce, DLL remains a leader in this dynamic, highly competitive market.”
The company’s managed portfolio balance increased by 7% compared to the same period in 2016, and totaled €30.2 ($34.5) billion. New business originations were up by 16% on a year-over-year basis, with growth realized across the vast majority of industries served by the company.
In a highly competitive market, the company reported all key performance indicators were trending within expected ranges.
“Despite pressure on new business margins, we continue to diversify our income model in areas such as secondary market equipment sales,” said Marc Dierckx, CFO and member of the executive board. “Our risk costs were in line with market conditions, but still remain historically low. Our future outlook remains strong.”
“Our strategy is clear. We are targeting continued growth for our award-winning vendor finance business, including expansion of our customer service network in select markets to provide a more personal and localized level of service to our partners,” Stephenson said. “The first phase of this expansion is already underway in North America and we are very excited about the potential.”
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