DLL grew global portfolio across all regions in 2023

Equipment financier DLL increased its managed portfolio, net profit and net income in 2023, as it continued to expand its global operations.

DLL’s portfolio balance reached 44.3 billion euros ($49 billion), up 9.2% year over year, according to the company’s earnings release. DLL posted a 2023 net profit of $474 million, a 27.7% increase YoY, as the company grew its portfolio and expanded into industries such as trailer floorplan following its 2022 Russian divestiture.

“We posted a strong net profit, thanks to our portfolio growing and net income rising,” Chief Financial Officer Gregory Raison said in the earnings release. “All of our regions and global business units grew their portfolio relative to 2022.”

DLL, a subsidiary of the Netherlands-based Rabobank Group, was established more than 50 years ago and provides asset-based financing to the agriculture, food, health care, construction and transportation industries.

Tractor-trailer trucks wait to enter the Port of Baltimore in Baltimore, Maryland, U.S., on Monday, March 23, 2020. A shipping container shortage that's left everything from Thai curry to Canadian peas idling in ports may be about to get a whole lot worse as China steps up its coronavirus precautions on incoming vessels. — (Photo/Bloomberg)

DLL’s continuing progress

DLL’s 2023 net income totaled $1.9 billion, up 3.5% YoY, according to the earnings release, which highlighted an overall profitable year for the lender, Chief Operating Officer and interim Chief Executive Mike Janse said in a May 13 company release. Janse also chairs the DLL executive board.

“Our focus throughout 2023 was to drive more sustainable and profitable growth in the sectors we operate in, while moving at pace to explore and exploit new opportunities,” he said. “2024 will be another challenging year in terms of macroeconomic trends and geopolitical uncertainty, but we are confident that we can continue to make good progress in implementing our strategic road maps and supporting our partners and customers.”

DLL USA, the American subsidiary of DLL, had new business volume of $14.7 billion and total managed assets of $16.2 billion in 2022, according to the 2023 Monitor 100. DLL ranked 10th in equipment financier total managed assets in the 2023 Monitor 100.

Editor’s note: All amounts have been converted to U.S. dollars.