Zenith’s managed fleet comprises 162,000 vehicles. Credit: Philip Veater on Unsplash.

Zenith, a UK-based fleet management, leasing and mobility solutions provider, has recorded a turnover of £589m for the year ended 31 March 2022.

Announcing the yearly financial results, Zenith said that its turnover was up 20% in comparison with the previous year’s £491m. 

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During the period under review, the firm’s fleet saw a 10% growth and now comprises 162,000 vehicles. 

On the sustainability front, Zenith said there are 23,000 battery electric vehicles in its fleet or on order. The firm noted its “commitment to the adoption of science-based targets and reducing emissions in line with net zero.”

The firm also reported a strong order book with some 14,000 vehicles going into the current financial year. 

Zenith CEO Tim Buchan said: “We delivered another year of excellent operating and financial performance as Zenith continues to go from strength to strength, exemplified by the 27% growth in EBITDA to £78.2m.

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“Despite headwinds such as the continued shortage in new car production and macroeconomic uncertainty, we are well placed to make progress and develop our business, driven by our three key enablers – powered by people, reinforced with technology and supported by scalable, sustainable funding.

“Against this economic backdrop, we are facing the longer-term challenges of the climate crisis and the imperative to decarbonise. Zenith’s vision is to end tailpipe emissions and I am encouraged to see that demand for electric vehicles is stronger than ever and that, across our divisions, we have the scale, expertise, delivery platform and great people, to help our customers make the transition to zero carbon transport.”