All articles by Antonio Fabrizio
Antonio Fabrizio
Leaseurope: Europe’s leasing 28 percent down in 2009
New leasing volumes across Europe dropped almost one third in 2009, preliminary figures from Leaseurope have shown. The trade association for the European leasing industry said that new production reached around 216 billion last year, 28.4 percent down compared with 2008.
FLA calls on new government to help SME investment
The Finance and Leasing Association (FLA) has warned that Britains economic recovery is at risk of underinvestment and is calling on the next government to help SMEs invest in new equipment through leasing. The trade body said that research it recently commissioned to Oxford Economics and the Open University Business School shows that investment is lower than in the two previous recessions. According to the research papers, SME investments dropped by 27 percent in 2009, and around a fifth of small businesses cannot upgrade equipment due to poor cash flow, difficulties accessing finance or problems sourcing equipment.
Used truck market on recovery path, says Broadway
Sales of used trucks have started to increase for the first time since the start of the recession, according to GE-owned Broadway Motor Company. The UK used commercial vehicle specialist has reported an increase in used truck sales, and said that trucks could soon follow the used van market into a recovery. The companys national sales leader, Ian Griffiths, said: This is the first new sales trend that we have seen in the used CV sector since the start of 2010
Board changes at Northgate
Northgate, the van hire company with a large presence in the UK and Spain, has announced a number of management changes. Northgate CEO Steve Smith is retiring after 23 years with the group, as already announced last year Northgate deputy CEO Paul Tallentire will continue to manage day to day operations, as well as leading a reorganisation of the UK business, including the implementation of a new IT system.
GRENKE expands international business
Germanys GRENKE Group reported a 26.6 percent increase (to 150 million) in new business in the first quarter of 2010, with a significant volume growth in its international segment. The Baden-Baden based IT leasing and factoring business said that international business contributed a share of almost 59 percent, or 88 million
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More of the same, please
Five Arrows Leasing might have suffered a bit as a result of the recession, but Sam Geneen, its well known managing director, has only one plan in mind to continue running the business in the way he has done since he founded it 22 years ago.
Azule finance finds renewed vigour in IT and export finance market
Leasing broker and funder Azule has decided to expand its traditional broadcast leasing business to also include IT and export finance among its services.
Revamping distribution
A new broker arm of UniCredit has been formed, focusing on general banking products Italys UniCredit Leasing is in the middle of ambitious plans to reorganise its distribution strategy.
Demand on the rise
As Investec buys into the professions market, Antonio Fabrizio discovers how Syscap, a long-term player in this market, has been faring. Philip White, CEO of Syscap, an IT lessor with 15 years experience of the professions financing market, said the sector had been hardest hit between 2008 and the first half of 2009.
Brussels Watch
Customers are being hit by extra costs related to Euro 5, but the change seems unlikely to affect residual values