Leasing in Poland has hit the buffers – and the big
players have been worse hit. Fred
Crawley reports.
Despite Poland being one of only two European economies to
report growth over the year’s first quarter (at 0.4 percent),
results from the country’s leasing association suggest the
country’s formerly booming leasing industry is still in extremely
difficult circumstances.
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The industry at large saw first-quarter
business volume drop by a severe 39 percent year-on-year, from
€1.78 billion in 2008 to just €1.1 billion this year.
The Polish arm of Austrian giant Raiffeisen
was worst hit, seeing new business drop by nearly 70 percent, while
BRE Leasing, owned ultimately by Commerzbank, also saw a fall of
more than 50 percent.
Out of the country’s top 10 lessors, only
Deutsche Leasing, with its exclusive focus on the industrial and
big ticket transport markets, saw growth in business volume (at 18
percent).
Real estate leasing, although still a small
business compared to equipment leasing in Poland, actually saw a
year volume increase of seven percent, despite a vast change in
focus: 85 percent of property leased in 2009’s first quarter was
for industrial purposes, as opposed to just 24 percent the year
before.
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By GlobalDataING Lease dominated this field with a 43
percent share of business, and consequently saw a relatively mild
overall business decline of 22 percent, keeping it in Poland’s
number two spot.
Overall, in the movables leasing market a
collapse in road freight saw transport finance down significantly
by 46 percent, although passenger cars and light commercial
vehicles were not hit so hard.
In all sectors, a loss of market share by the
bigger players due to new business constrictions left a greater
amount of business to be picked up by smaller leasing companies – a
situation that may see some smaller players grow significantly as
the year progresses.
Polish lessors ranked by new business
volume, first quarter 2009
|
Rank |
Company |
Vehicles (cars) |
Machinery |
IT |
Ships, planes, rolling |
Total – movables |
Total – inc real |
Total assets |
Average transaction size |
Total – movables |
Year on-year change |
|
1 |
Europejski Fundusz Leasingowy |
111.3 (66.4) |
37.7 (12.5) |
3 |
0.03 |
151.9 |
152.6 |
9426 |
16.2 |
225 |
-32.2 |
|
2 |
ING Lease (Polska) |
8.9 (7.4) |
18.5 (0.3) |
3.6 |
0 |
31.4 |
95.1 |
773 |
123.0 |
122.2 |
-22.2 |
|
3 |
BRE Leasing |
60 (38.5) |
22.7 (4.6) |
1 |
0 |
85.2 |
90.7 |
4564 |
19.9 |
182.8 |
-50.4 |
|
4 |
BZ WBK Finance & Leasing |
38.5 (22.0) |
31.4 (2.5) |
0.1 |
0 |
70 |
88.9 |
3166 |
28.1 |
103.3 |
-13.9 |
|
5 |
Pekao Leasing |
45.6 (25.9) |
26.6 (5.8) |
6.2 |
0.23 |
80.2 |
80.1 |
2432 |
32.9 |
n/a |
n/a |
|
6 |
Millennium Leasing |
27.2 (8.8) |
25.3 (7.7) |
0.5 |
3.3 |
56.2 |
68.5 |
1779 |
38.5 |
113.8 |
-39.8 |
|
7 |
Raiffeisen Leasing Polska |
48.7 (32.9) |
9.7 (1.9) |
0.3 |
1.06 |
59.7 |
63.2 |
3088 |
20.5 |
205.2 |
-69.2 |
|
8 |
VB Leasing Polska |
32.6 (9.5) |
23.3 (6.4) |
0.1 |
0 |
56.3 |
56.2 |
2337 |
24.0 |
72.9 |
-22.9 |
|
9 |
SG Equipment |
11.8 (2.2) |
23.9 (8.8) |
3.8 |
3.26 |
42.8 |
42.7 |
545 |
78.3 |
78.1 |
-45.3 |
|
10 |
Deutsche Leasing Polska |
6.5 (0.6) |
30.8 (n/a) |
0.2 |
4.64 |
42.1 |
42 |
181 |
232.0 |
35.7 |
17.6 |
|
n/a= not available Source: Leasing |
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