German financing company Grenkeleasing
reported €640m in new business volume in the first nine months of
2012, marking 15% growth compared to its 2011 figure of €554m.
Non-domestic business represented 69.9% of
new leasing business, with a growth rate of 21.5%, while business
in Germany shrunk by 2.2% over the same period.
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Grenke Group as a whole reported €726m in
new business in the first nine months of 2012, up 18% from €615m.
This puts the Group on track to reach their new business growth
target of 15% for 2012, according to the firm’s report.
The Group’s contribution margin (CM2), a
measure of profitability, rose to €113m for the period to end of
September, giving a CM2 of 17.4% compared to 15.5% over the first
nine months of 2011.
Group business outside Germany accounted
for 65.6% of Grenke’s volume, compared to 60.8% last year, with the
Group opening new branches in Florence, Wroclaw and Fingal, as well
as a 24th German office in Freiburg.
Wolfgang Grenke, chairman of Grenkeleasing,
said: “In the third quarter, we succeeded in maintaining the pace
of growth in new business from the previous quarters. This means
that we are well on the way to achieving the planned new business
growth of around 15% for 2012.”
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By GlobalData“We continued to press ahead with our
expansion in the third quarter of 2012 and further cell divisions
are planned over the course of the fourth quarter.”
