Eindhoven, the Netherlands: De Lage Landen (DLL), global provider of asset-based financial solutions, today announced its half-year figures. "Our results for the first half of 2014 continue to validate the primary pillars of our strategy, including our partnership focus, global footprint, specialized asset knowledge, and operational efficiency," said Bill Stephenson, CEO and Chairman of the Executive Board.
DLL, a wholly owned subsidiary of Rabobank, reported net profit of € 225 million ($308 million USD) for the first half of 2014. On a year-over-year basis, this represented an increase of an 8.2% in net profit performance compared to the first half of 2013. "Despite a slower than expected economic recovery in many of our core markets, we have been able to grow our portfolio in a balanced way, building on diversification and continued strong risk management," noted Frans Overdijk, CFRO and member of the Executive Board.
Focus on partnerships
"What matters to DLL is understanding the heart and soul of our partners and the needs of their businesses. By understanding the challenges they face in their markets, their short-term opportunities and long-term ambitions, we are able to find new solutions to changing finance and service needs which ultimately benefit our customers," Stephenson adds. "This has allowed us to grow our leasing portfolio in the first six months of 2014 by 4.5% to € 31.3 billion ($42.8 billion USD).
The growth of the leasing portfolio was well distributed across the entire global network of DLL, which encompasses offices on four continents and in 36 countries. "We were also pleased o see this portfolio growth was well balanced across all of our industry segments," added Stephenson. DLL boasts active partnerships with equipment suppliers and customers in food, agriculture, healthcare, clean technology, construction, industrial, transportation, office technology, and automotive. Furthermore, DLL will continue to provide leasing products and services to Rabobank customers and offers consumer finance solutions in the Netherlands.
"In looking at the second half of 2014, we will continue our commitment to strengthen partnerships, maintain our industry specialization, and continue our ongoing investment toward operational excellence," concluded Stephenson.