Europlan announces Q1 2021 IFRS financial highlights: leasing portfolio grows by 9.3% in Q1 2021

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Europlan announces Q1 2021 IFRS financial highligh...
LC Europlan, a long-established leader in the Russian auto leasing market, today announces its headline consolidated financial results under International Financial Reporting Standards (IFRS) for the first three months of 2021 (Q1 2021).

Q1 2021 highlights:

  • Leasing portfolio as of 31 March 2021 stood at more than RUB 98.1 billion (up 9.3% year-to-date);
  • Equity as of 31 March 2021 stood at RUB 17.9 billion;
  • Net profit for Q1 2021 totalled RUB 1.8 billion (up 87.1% on Q1 2020);
  • Return on average equity (RoAE) of 42% (TTM*);
  • Return on average assets (RoAA) of 7.3% (TTM*).
In Q1 2021 Europlan acquired and transferred to Russian businesses under leasing agreements vehicles totalling RUB 34.3 billion (including VAT), an increase of 64% year-on-year (Q1 2020: RUB 20.9 billion). The number of the company’s clients exceeded 111 thousand.

An important development in Q1 2021 was the expansion of Europlan’s Subscription service. Under this car-as-a-service product, Europlan offers customers 27 car models under long-term rental agreements. Europlan also offers customers electric vehicles under the Subscription service.

Alexander Mikhaylov, CEO of Europlan, said:

“Our operational and financial results for Q1 2021 illustrate our company’s continued success, enabling us to satisfy substantial deferred demand for vehicles on the best terms and conditions. One year ago, in 2020, Europlan ended the first quarter of the year with record growth ahead of the imposition of lockdown measures. This year’s results are significantly ahead of those of last year, which were far from a low base. This means that our strategy to grow our auto leasing offering alongside complementary services is resonating with our numerous clients and partners.”