Société Générale Equipment Finance (SGEF) reported an 8.1% drop in new business for the second quarter of 2013, compared to the same period last year.
In its quarterly statement, the company said the drop to 1.7bn of new business was tempered by "strong positions, particularly in vendor programmes" keeping margins high. It also reported a 4.2% drop in receivables to 17.2b.
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Meanwhile, parent group Société Générale’s vehicle leasing and fleet management arm, ALD Automotive, saw its fleet grow by 5.2% year on year in the second quarter, meaning it now comprises around 980,000 vehicles.
Société Générale Group more than doubled its year-on-year profits, from 436m for second quarter of 2012 to 955m for the same quarter of 2013.
SGEF topped the 2012 Leaseurope Ranking Survey of European lessors, having included ALD Automotive in its data for the first time.
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