Deutsche Leasing
This German lessor, headquartered in Bad Homburg, has shown
resilience in the past year, expecting new business to grow by 5
percent this year, and the same again in 2010. Deutsche Leasing has
a portfolio of €31 billion, and recorded a new business volume of
just over €9 billion last year.
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With 322,000 active contracts,
Deutsche Leasing is present with 1,906 employees in 22 countries,
having entered Austria and the Benelux this year.
Although independent, Deutsche
Leasing obtains almost two thirds of its funding from the
Sparkassen network – a safer source than many other lessors. A
large majority of its deals (83 percent) are worth between €1,000
and €49,999; and the lessor aims to focus on machinery leasing in
the year ahead.
• Customer base: SME – 56 percent;
large corporate – 1 percent; public sector – less than 1 percent;
private consumers – 43 percent (the lessor recently launched a car
financing programme for consumers / dealers)
• Asset breakdown: machinery – 47
percent; car/fleet leasing – 26 percent; real estate/big ticket –
21 percent; IT/office equipment – 6 percent
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GrenkeLeasing
Despite seeing less profit in 2009
than in 2008, GrenkeLeasing is a strong contender for German Lessor
of the Year.
At the start of this year, the
independent IT lessor took the decision to change its business
model and reduce new business volumes, in order to boost its equity
and liquidity position. While reporting new business volumes of
just over €600 million in 2008, the lessor expects growth of 5 to
10 percent in the contribution margin for new business in 2009.
At the end of third quarter,
GrenkeLeasing’s new business amounted to €345.8 million, and
contribution margin on new business was €60.2 million. The number
of leasing enquiries also grew, by 13.7 percent, in the first nine
months of 2009 compared to the same period last year.
With total assets of €1.4 billion,
Baden-Baden-based GrenkeLeasing had 221,096 current contracts at
the end of the first half of the year. For its funding, it recently
placed a bond worth €100 million on the market, which was more than
twice oversubscribed.
The small-ticket lessor also
recently signed another ABS programme with a volume of €150 million
and extended credit lines with its banks for a volume of €90
million.
• Return on equity: 10.5 percent
MAN Finance
MAN Finance’s role is of course to
act as a captive finance company for its parent. But through
demonstrating clear excellence in its field, this Munich-based
lessor managed last year to deliver strong new business volumes for
its sector – some €850 million.
With 46,000 assets and a portfolio
of €2.8 billion, MAN Finance has secured its funding through
creating banks in France and Germany this year.
Although it expects a dip in new
business volumes this year, MAN Finance still has a penetration
rate of 30 percent of its parent’s sales. This year, in addition to
the 19 markets in which it operates, the lessor entered new markets
in Romania and Dubai, where it hopes it can gain significant market
share. Growth was particularly strong in the large corporate
segment, where demand has increased by 15 percent this year.
• Customer base: SME – 60 percent; large
corporate – 30 percent; public sector – 10 percent
Siemens Financial Services
The finance arm of Siemens, one of
Germany’s bellwether manufacturers, Siemens Financial Services has
become an internationally-renowned independent lessor, with an
asset portfolio of €11.4 billion and nearly 2,000 employees. Return
on equity is strong (29.3 percent), earning Siemens Financial
Services a pre-tax income of €300 million.
The Munich-headquartered lessor is a
major player in vendor financing – for example, it has a worldwide
partnership with SAP – but is also quickly becoming an important
equity and project financier (with €28 billion project volume to be
financed).
Siemens Financial Services CEO of
equity project finance Johannes Schmidt has indicated the lessor is
looking to grow its project finance arm further.
• Portfolio breakdown by location:
Europe – €7.1 billion; Americas – €4 billion; Asia-Pacific – €0.3
billion
