At the end of last year, Arval, the operating car lease company that is part of the French group BNP Paribas, reported a turnover of EUR 34 million, up by 18 percent, and a 20 percent growth is expected this year. “2013 was a rather difficult year for our industry because of the many legislative changes brought in the first half of the year, which had a direct impact on our business. On the other hand, the year was difficult for our clients as well, as very few projects and opportunities were provided in the first half of the year,” Dan Boiangiu, the company’s general manager, who took over on January 1, stated Tuesday in a press conference. Arval business was generated by 340 clients stemming from all industry branches, a total number 7 percent higher than in 2012, company representatives announced on Tuesday. The market for this line of business reported a mere 3.5 percent growth in 2013, considering the industry usually reported two-digit growth percentages, as in 2012, for instance, when the growth was 11 percent.
“2014 is shaping out to be better than 2013. We intend to expand our financed fleet by 10 percent and up to 5,500 cars and our investment budget by 30 percent, up to EUR 27 million. We estimate a 10 percent increase in the number of clients and a 20 percent increase in this year’s turnover,” Boiangiu said further.
The largest fleet leased by the company last year – amounting to several hundred cars – was to a client in the pharmaceutical industry. This year, the company has registered a higher demand from the oil and gas sector, but the pharmaceutical sector is also expected to play an important role, according to the general manager of Arval.