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August 26, 2009updated 12 Apr 2017 4:33pm

Russian lessor Europlan reports sharp fall in new business

In the first six months of the year, Europlan signed 2,594 leasing agreements worth over 3.6 million (2.5 million), compared with 9,351 agreements worth $268 million in the same period last year

By Jason T

Russia’s top vehicle and truck lessor, Europlan, reported that
the economic slowdown has led it to write much less new business
than in the first half of last year.

In the first six months of the year, Europlan signed 2,594
leasing agreements worth over 3.6 million (€2.5 million), compared
with 9,351 agreements worth $268 million in the same period last
year.

Total revenues amounting to $58 million (€41 million) in the
first half of 2009.

The Russian lessor leased 1,084 cars and 678 trucks and buses,
with average lease terms of 25 months. Europlan’s customer base was
largely small and medium-sized companies; accounting for 75 percent
of Europlan’s leasing volume.

Europlan grew its market capitalisation, however, seeing its own
capital reach $134 million, with total assets equal to $520
million.

Jason T Hesse

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