Independent leasing group Grenke Leasing has reported a 25%
year-on-year growth in new business volume over the last quarter,
and has signalled that it will achieve its 2011 growth
target.
€615m of new business volume was written by the small-ticket
specialist in the first nine months of 2011, compared to €492m for
the same period last year.
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Earlier this year, Grenke announced that new business was
expected to increase 20% throughout 2011, and Wolfgang Grenke,
chairman, said this is still anticipated.
International leasing business added up to
€315m compared to €255m last year, improving by 23.5%, with Italy
contributing the strongest result with a 56.8% increase.
The German leasing business saw a rise in new
business of 12.4%, from €175.2m to €197m.
In the first nine months of 2011, Grenke recorded a total of
159,747 leasing inquiries, with 68,169 generating agreements.
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By GlobalDataThe average value per leasing contract concluded was around
€8.140, which is an increase compared with the previous year’s
average of €7.610.
Grenke’s factoring division saw an increase of
more than 100% in new business, with its international franchise
earning €15.9m compared to €0.1m during the same period last
year.
The performance of factoring in Germany was
also strong, with a growth of 53%.
Wolfgang Grenke described the business
strategy: “We are increasing our presence on the market by means of
further cell divisions in order to ensure future growth.”
Grenke opened a fourth UK location in
Manchester and carried out its first cell division in Denmark,
opening in Aarhus.
Further cell divisions are planned over the
course of the fourth quarter.
Grenke will release a full quarterly financial statement on 3
November.
