Eindhoven, September 7, 2016 - DLL, global provider of asset-based financial solutions, delivered a robust commercial and operational performance for the first half of 2016. The company’s focus on partnerships, dedicated industry knowledge, a balanced spread of activities across geographic regions and disciplined risk management led to continued strong and healthy results.
DLL recorded a net profit before minority interest of EUR 297 (USD 331) million in the first six months of 2016, representing an increase of 15.6% compared to the same period in 2015. “Our first-half results continue to validate our business strategy, as well as our unrelenting focus on customer satisfaction and business development with the manufacturers, distributors and dealers who choose to partner with DLL around the world”, said Bill Stephenson, CEO and Chairman of the Executive Board.
Focus on vendor finance
Earlier this year, DLL announced an agreement to sell its automotive leasing unit, Athlon, to Mercedes-Benz Financial Services Nederland B.V., part of the Daimler Financial Services global network. The sale transaction is expected to be completed by the end of 2016, and will allow DLL to direct the majority of its resources, investments and innovation toward its leading global vendor finance business.
DLL is active in more than 35 countries, across four continents and is focused on supporting a select group of industry sectors, including food, agriculture, healthcare, clean technology, construction, industrial, transportation and office technology. During the first half of 2016, DLL realized strong commercial results, with originations growing across all sectors on a year over year basis.
Portfolio growth
The company’s managed portfolio grew by an impressive 4.7% compared to the same period in 2015, and totals EUR 38.36 (USD 42.6) billion. The portfolio balance will be adjusted downward following completion of the sale of the Athlon automotive leasing unit, giving DLL further strategic flexibility with regards to the management of its global vendor finance business.
“DLL will continue to focus on the business of our partners, specializing in their markets and helping them sell more products and services with finance and leasing,” commented Stephenson. “By providing new and innovative digital tools to our partners and a top notch customer experience, all delivered by an empowered and engaged workforce, we will continue to differentiate ourselves in a growing, highly competitive market.”