Siemens Finanziaria Spa, the Italian subsidiary of Siemens
Financial Services group, has revealed that Italy has some €65
billion “frozen” in purchased business equipment, which could be
“freed” through alternative financing such as leasing.
The study, titled “Putting capital to work”, has highlighted
that companies throughout Europe and the US often use inefficient
financing methods for business equipment, tending to purchase
assets instead of using leasing and other options.
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According to the study, the five main European economies –
Italy, UK, France, Germany and Spain – had a combined €256 billion
“frozen” in purchased business in 2007, which could have been used
as a source of liquidity in the current uncertain economic
climate.
As far as Italy is concerned, the frozen capital is almost 5 per
cent of the country’s GDP, while the other EU countries have a
smaller figure of about of 3 per cent of their GDP.
The MD of Siemens Finanziaria, Marco Valerio Fosso, said that
due to circumstances of credit limitation, companies more and more
often need to find alternative sources of financing. “Asset
finance, through leasing and rental, is particularly advantageous
in the current economic climate, as the financing package allows
the creditor to take the asset back instead of depending completely
on the capital of the debtor,” he said.
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