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November 29, 2010updated 12 Apr 2017 4:18pm

Deutsche Leasing outperforms market

Deutsche Leasing reported new business volume down 6 percent to 7.8bn for the year to 30 September 2010, in line with expectations. The results show Germanys largest leasing company maintaining a strong position in its core markets and improving from last year in specific asset classes.

By Antonio Fabrizio

Deutsche Leasing reported new business volume down 6 percent to €7.8bn for the year to 30 September 2010, in line with expectations.

The results show Germany’s largest leasing company maintaining a strong position in its core markets and improving from last year in specific asset classes.

New business from Germany excluding real estate was €5bn, compared to last year’s €5.2bn. The lessor claimed that other bank-backed providers of equipment leasing in Germany suffered an average 14.6 percent drop in new business for the same period.

New business outside Germany dropped 7 percent to €1.3bn and, while equipment leasing declined by 7 percent, improvements were reported for medical equipment, plastics processing plants and IT, as well as in vendor finance.

Deutsche Leasing will now change its strategy to focus exclusively on business-to-business activities, after it began spinning off its consumer car loan business to form a joint venture with Landesbank Berlin in March 2010.

New ceo Kai Ostermann said that for the new financial year, business is ahead of the previous year’s figure, and that capital spending restraint is easing. “We want to moderately expand our new business volume in fiscal 2010/11 and thus disproportionately benefit from the economic recovery,” he said.

Deutsche Leasing acquired €2.9bn of new business through its savings banks cooperation last year. It has changed the colour of its logo to red, to emphasise its membership of the Sparkassen Finanz-gruppe network of banks.

The company’s real estate subsidiary Deutsche Anlagen-Leasing met its target of €1.5 billion in new business, down 13 percent owing to less being brokered through the state banks, and the divestment of Amentum Capital. DAL’s performance was stronger in large property and renewable energy, with real estate leasing up 10 percent year-on-year.

Antonio Fabrizio

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