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Novuna Vehicle Solutions, part of Mitsubishi HC Capital UK Plc, has published its annual results, revealing a rise in its fleet size and value on the back of major new fleet contracts.
Novuna Vehicle Solutions grew its fleet from 109,000 to over 113,000 vehicles during FY24/25
The mobility specialist – which is the sixth largest leasing company in the UK – grew its fleet from 109,000 to over 113,000 vehicles during FY24/25. At the same time, fleet value rose by 8.9% year-on-year to £2.1bn.
New business volumes increased by 4.2%, from £848.2m to £884.1m.
Key customers include Amey, Centrica, Network Rail, Kier, with new wins such as Royal Mail and Schneider Electric.
The results contributed to the record profit and all-time high new business volumes posted by parent group Mitsubishi HC Capital UK Plc (trading as Novuna), with all of its business divisions across the UK and Europe returning pre-tax profits.
This included MHC Mobility. The European leasing subsidiary of Mitsubishi HC Capital UK Plc, which operates across seven European countries, exceeded expectations in the Netherlands and Germany, recording a pre-tax profit on continuing operations of £15.8m.
Pre-tax losses of £11.5m were recognised in relation to discontinued operations in Czech Republic, Slovakia, and Hungary.
During the year, MHC Mobility Benelux expanded into Luxembourg, strengthening its presence in the region alongside existing operations in Belgium and the Netherlands as net earning assets grew across MHC Mobility by 6.6% from £749.1m to £798.6m.
Robert Gordon, CEO, said: “Despite the headwinds of the past year, Mitsubishi HC Capital UK Plc has delivered a strong and resilient performance. Our unwavering focus on delivering value-added products and exceptional service across both commercial and consumer markets has driven record levels of new business, while also deepening relationships with existing customers.”
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