makes record growth
German lessor Grenkeleasing AG, which specialises in the
small-ticket IT sector, increased its new business by 6.6 per cent
to €340.5m for the first nine months of 2007. The Grenke Group,
which includes both the leasing and factoring business and its
franchise partners, recorded a new business growth of 12.5 per
cent, from €332.7m for the first nine months of 2006, to €374.3m
for the same period in 2007.
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Grenkeleasing operates in 20 German cities, has various branches
in France, Switzerland and Italy, subsidiaries in Austria, Italy,
Czechnia, Spain, the Netherlands, Denmark, Sweden, Ireland and
Belgium, and a franchise system for factoring and car leasing in
the UK, Poland, Norway, Hungary, Romania and Spain.
The Group’s international business, including its franchise
partners grew by 26.9 per cent in new business to €226.1m for the
first nine months of 2007, and the international segment
contributed a share of 39.5 per cent to the new business of the
entire group. France is the main growth driver, up by 31 per cent
in the third quarter.
In the leasing division specifically, France again made the
greatest contribution to new business with €75.4m, followed by both
Switzerland and Italy with €11.4m respectively, for the first nine
months of 2007.
CFO of Grenkeleasing AG, Dr. Uwe Hack said: “The level of 12.5
per cent in new business growth in the Grenke Group makes us feel
optimistic enough to assume that growth will exceed 10 per cent for
fiscal 2007. The German market is also back to normal following the
dampening impact of the discussions concerning the tax reform in
the third quarter, with new business up by 8.8 per cent and the
contribution margin 2 up by 6.4 per cent.”
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