Asset-based financial solutions provider DLL has released its 2024 annual figures, highlighting growth in its portfolio and net interest income, despite economic headwinds in certain regions.
The company’s portfolio expanded to €47bn ($49bn), marking a 7% increase from the previous year.
All global business units and regions contributed to this growth, except Latin America, which faced significant challenges throughout the year, the company said in its statement.
Net income rose to €1.9bn, reflecting a 7% increase compared to 2023. However, higher impairment charges, particularly in Brazil’s food and agricultural sector, impacted profitability.
As a result, DLL’s net profit for 2024 stood at €407m, down from €438m in 2023.
DLL emphasised its role in asset-based financing, noting that it supports the real economy by financing equipment in collaboration with vendors and dealers worldwide.
The company also reported growth in new partners, customers, and contracts during the year.
DLL CEO and chair of the executive board Lara Yocarini said: “As an asset-based financing company, we finance equipment that enables the real economy to turn, and we proudly do so together with vendors and dealers all over the world who are passionate about their products and services.”
Last year, the company broadened its portfolio by funding a wide range of new and used assets, obtaining more than 330,000 new retail agreements and forming 60 new vendor collaborations, while increasing its customer base to almost one million.
Yocarini added: “In 2024, DLL faced heightened competition and regulatory changes. At the same time, we had to navigate an increasingly complex geopolitical macroeconomic landscape, and unprecedented impacts of extreme weather conditions that affected our members, partners and customers in Brazil, Poland, the US and Spain.”
Looking ahead to 2025, DLL aims to maintain its focus on becoming the “undisputed global leader in vendor finance”.
Yocarini concluded: “Together with our customers, partners, and members, we will need to navigate the volatile political and economic landscape carefully. But we are convinced that DLL is in good shape to continue delivering on its ambition of sustainable, profitable growth, while we will also accelerate our digital transformation, improving the speed, ease and convenience of doing business with DLL.”
“DLL reports 7% portfolio growth in 2024 amid challenges in Latin America” was originally created and published by Leasing Life, a GlobalData owned brand.
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