More than half of the top ten companies that operate on the leasing market generated turnover increases of 30% within the first nine months of the year, higher than the growth rate forecast for the entire market.
UniCredit Leasing Corporation, BCR Leasing and Porsche Leasing continue to control the leasing market, which could reach 4.2bn euros this year. UniCredit Leasing, which entered the market earlier this year in the wake of the merger between UniCredit Leasing and HVB Leasing, in the first nine months of 2007 granted financing worth 350m euros and for the entire year plans to finance goods worth 500m euros and therefore account for almost 12% of the market.
Ranked second is BCR Leasing, which registered a 26% turnover increase in the first nine months against the same period in 2006, to 280m euros. As was the case for most players on this market, car financing accounted for almost half of BCR Leasing's portfolio (around 43%).
Ranked third is Porsche Leasing, which specialises in car financing and posted turnover worth almost 249m euros in late September, up 11% against the same period in 2006. By yearend, the company expects to reach a financing volume worth 320m euros, which corresponds to the acquisition of 20,000 cars.
Next is the leasing division of Austrian-based Raiffeisen group, which financed the purchase of goods worth 190m euros in the first three quarters. The company's turnover advanced by 64%, against the same period in 2006
Other companies in the top ten that registered over 30% financing growth are BRD Sogelease, Tiriac Leasing and Motoarctive Leasing, while Credit Europe Leasing and Piraeus Leasing saw turnovers double during this period. Overall, six of the top ten companies reported increases of over 30% - higher than this year's forecast growth rate.
BRD-SocGen's leasing firm ranked fifth, with financing worth around 166m euros in the first nine months, up 32% against the same period in 2006. The company plans to reach the top 3 and boost turnover by 40-50% next year.
The remaining positions are held by Tiriac Leasing (164m-euro financing), Volksbank Leasing (155m euros), Credit Europe Leasing (147m euros), Piraeus Leasing (140m euros) and Motoractive Leasing (135m euros). Overall, the top 10 leasing companies released financing worth almost 1.97bn euros in the first nine months.
If these players in late September maintained their H1 market share (58.3%) the market can be estimated at 3.37bn euros at the end of the first 3 quarters of 2007. For the entire year, the Leasing and Non-banking Financial Services Association (ALB) estimates the market will reach 4.2bn euros, from 3.26bn euros in 2006. According to ALB officials, total financing by leasing companies could climb to 5.5bn euros, at a rate of over 30%- an almost six-fold increase against 2003.
Top 3 leasing firms
UniCredit Leasing in the first 9 months of 2007 granted financing worth 350m euros and for the entire year plans to finance goods worth 500m euros
Ranked second is BCR Leasing, which registered a 26% turnover increase in the first 9 months against the same period in 2006, to 280m euros.
Ranked third is Porsche Leasing, which specialises in car financing and posted turnover worth almost 249m euros in late September, up 11% against the same period in 2006.
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