Zenith, the UK’s largest independent truck-to-car vehicle leasing and fleet management company, today published its annual financial results for the year ended 31 March 2026.
FY26 was another year of strong underlying business growth for the Group, with normalised adjusted EBITDA increasing by 31.9% year-on-year to £67.1 million1, reflecting the strength of the proposition, high levels of customer retention, and continued progress against its strategic priorities.
The company further expanded its portfolio of high-quality customers through a number of significant new business wins, including Amazon, Bupa, and the UK division of a global household name in the food and drinks industry, supporting continued growth across its core markets.
Zenith continued to support customers with their monthly lease costs while managing the impact of residual value volatility through its ongoing Project Volt lease extension programme and the launch of its secondary leasing proposition. Providing access to high-quality used vehicles through salary sacrifice at more affordable price points, this new offering opens up an additional customer segment for the business.
Subsequent to the year-end, in April 2026, the company completed a significant recapitalisation transaction to support the delivery of its long-term strategy, including a shareholder contribution of c.£100 million of equity and extension of its key debt maturities, providing a robust foundation for the years ahead.
“Our last financial year was one of transition for Zenith – simplifying our vision and strategy, strengthening our leadership, and establishing the foundations to underpin our future success. We also demonstrated strong financial progress, growing our underlying earnings.
“Despite continued market challenges, we delivered against our strategic priorities – from launching new customer propositions and expanding partnerships, to enhancing our digital capabilities and focusing on higher-margin opportunities. Together, these steps position us to move forward with greater clarity, discipline and confidence.
“Thank you to everyone who has supported Zenith this year – particularly our colleagues for their hard work and dedication, and our customers and suppliers for their ongoing trust and support. I continue to be impressed by the strength and resilience of this business and our ability to create long-term value.”
Richard Jones, Zenith chief executive officer
[1] For further information on how this measure is calculated, please see our FY26 Annual Report available on our website
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Annual Report 2026
We’re pleased to present our results for the financial year ending 31 March 2026, and share how our team have gone the extra mile for the customers and communities we serve.