New business at Grenkeleasing Group reached €119 million in the
first quarter of 2009, down by 10 percent year-on-year.
New business from leasing was down in most European countries,
except for Poland and the Netherlands, where business had increased
by 10 percent and 14 percent, respectively. The UK was the worse
hit, seeing new business fall from €4 million in Q1-2008 to €2.5
million in Q1-2009, a decrease of 37 percent.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
In total, and excluding factoring, the leasing business
generated €104,5 million.
“In view of the ongoing significant deterioration of
macroeconomic activity and the increasingly uncertain economic
forecasts, we are optimising our margin and risk structure and are
deliberately foregoing new business volumes,” said Uwe Hack, deputy
chairman of the executive board of Grenkeleasing.
Despite lower new business volumes, Grenkeleasing’s contribution
margin reached €20 million, or 14 percent – an all-time high.
“We are well prepared for the difficult overall economic phase
that lies ahead, and we are highly satisfied with the balance we
have achieved in terms of volume,” he added.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
