OPENLANE announces 2017 annual results

Text: Véronique Smolders

OPENLANE, the online auction website for the car trade, has announced its 2017 annual results in its first annual report.

Very first annual report
In its first annual report*, OPENLANE has reported its key figures and most important achievements of the past year in an orderly manner. The report is available in English.

The report begins with a foreword and the company’s mission and vision, followed by a timeline with a visualisation of the past year’s highlights and by the most important figures. These pages contain all the key information.

In addition, the organisation charts are explained per entity and department in the company in various ways: short texts and images, enhanced with graphs and pie charts.

Highlights
OPENLANE ended the year on 31 December 2017 with 42,000 units sold, an increase of 18.75% over 2016. OPENLANE also enjoys an excellent customer satisfaction score of 8.3/10. The number of visitors to the web platform increased by 14% to 6.8 million. OPENLANE has also taken on lots of new employees: on 31 December 2017, these numbered 135.

“This growth on all fronts is simply fantastic, although the company has been steadily growing for many years. On the other hand, this is also necessary, because OPENLANE has clear but ambitious plans to sell more than 100,000 vehicles in the future. This year, we need to sell more than 70,000 units within the group,” says Johan Meyssen, CEO of OPENLANE.

Link to the annual report

*OPENLANE is not listed on the stock exchange, so it is not mandatory to publish the financial balance sheets.

About OPENLANE
OPENLANE started trading in 2004, and has grown into one of the largest online car auction platforms for the car trade in Belgium. OPENLANE has 6 branches and more than 150 employees. The company has an up-to-date selection of used vehicles available for the best market prices. In 2017, the company sold more than 42,000 end-of-lease vehicles from fleet-owners and car dealers in Belgium, the Netherlands, Germany, Italy, France and Spain. These were bought by car dealers throughout Europe, particularly in Central Europe. OPENLANE is distinguished by its high level of expertise in the cross-border sale of vehicles, and its unique business model. The company acts as an intermediary between buyers and sellers in a uniform manner, and ensures smooth payment, delivery and service for both buyers and sellers.