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August 1, 2009updated 12 Apr 2017 4:34pm

Ghost of its former self

Despite Poland being one of only two European economies to report growth over the years first quarter (at 0.4 percent), results from the countrys leasing association suggest the countrys formerly booming leasing industry is still in extremely difficult circumstances

By Fred Crawley

Leasing in Poland has hit the buffers – and the big
players have been worse hit. Fred
Crawley
reports.

Total value of movables leased: Q1, 2004-2009Despite 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.

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.

ING 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.

Movables leasing market - marketshare of top 6 companies in Q1 year-on-year

Polish lessors ranked by new business
volume, first quarter 2009

Rank

Company

Vehicles (cars)

Machinery
and plant
(construction equipment)

IT

Ships, planes, rolling
stock

Total – movables
Q109

Total – inc real
estate

Total assets
leased

Average transaction size
(€k)

Total – movables
Q109

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
Leasing Polska

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
Life

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