In 2009’s first half, the Czech Leasing and Finance
Association (CLFA) reports that leasing in the key CEE market was
down more than 50 percent year-on-year, owing to continued negative
development in the Czech economy.
The year’s first quarter saw GDP decrease by 3.4 percent, and it
fell again by a similar amount in the second quarter.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Meanwhile, industrial production
saw an interannual decrease of some 22 percent during May.
Inflation, which reached 1.5
percent in June, did not have a great impact on leasing’s
performance in the year’s first half. Unemployment, however, which
has a knock-on effect to many lessor-owning banks’ consumer credit
arms, rose to 8 percent in June.
In quarters one and two of 2009,
CLFA members (some 97 percent of the leasing market), financed
CZK22.8 billion (€897 million) worth of assets. Of this total, €833
million was financed by the country’s top 20 lessors.
In 2008’s first half, that same top
20 financed €1.8 billion between them, meaning an average new
business volume decline of 54 percent over the year.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataMarket leader CSOB took a 62
percent hit but retained its lead, while former second place lessor
UniCredit sank to third rank after sustaining greater losses than
rival VB Leasing. Deutsche Leasing, meanwhile, with its focus on
the relatively healthy machinery sector, only saw a 34 percent
business decline.
The Czech leasing industry’s major
success story has been operating leasing, which continued to
increase its market penetration from the first half of 2008’s 19.7
percent to 26 percent at 2009’s interim.
The Czech equipment lease scene
remains dominated by road vehicles (61.5 percent of all new
business), with passenger cars showing a mild increase in
prominence over the last year. There was less leasing of used cars,
however.
Light commercial vehicles too took
an interannual drop, from 19 percent of the market to just 12.9
percent.
Trucks also dropped, from 24
percent to 20 percent.
This lost ground was eaten up
significantly by machinery leasing business, which jumped from 24
percent of the market in 2008 to its current 34.9 percent
share.
In terms of client profile, half of
all leased assets went to private sector service companies, while
more than 40 percent went to the industrial and construction
sectors.
Fred Crawley
|
Lease contracts signed in H109 |
27,721 |
|
Contracts signed under operating lease |
9156 (33%) |
|
Average valued of leased assets in H1 2009 |
32,300 |
|
Average valued of leased assets in H1 2008 |
30,000 |
|
Active leasing contracts |
423,482 |
|
Book value of all leased assets (€bn) |
€6.3 |
|
Source: Leasing Life |
|
Czech leasing companies ranked by equipment financed in the
first half of 2009
|
Rank |
Company |
equipment financed |
operating lease |
operating lease – % of new |
equipment financed in |
% change |
|
1 |
ÈSOB Leasing |
111.1 |
22.4 |
20.1 |
295.7 |
-62.4 |
|
2 |
VB Leasing |
85.7 |
8.7 |
10.2 |
184.7 |
-53.6 |
|
3 |
UniCredit Leasing |
88.5 |
16.0 |
18.1 |
221.7 |
-60.1 |
|
4 |
Deutsche Leasing |
75.5 |
6.1 |
8.1 |
115 |
-34.3 |
|
5 |
SG Equipment Finance |
69.1 |
13.6 |
19.7 |
142.4 |
-51.5 |
|
6 |
LeasePlan |
49.5 |
49.5 |
100.0 |
74.6 |
-33.6 |
|
7 |
Mercedes-Benz FS |
40.7 |
15.5 |
38.0 |
98.3 |
-58.6 |
|
8 |
ŠkoFIN |
46.2 |
14.4 |
31.1 |
147.3 |
-68.6 |
|
9 |
Impuls-Leasing |
33.9 |
5.3 |
15.7 |
Withheld |
Unknown |
|
10 |
Credium |
36.3 |
5.3 |
14.5 |
81.9 |
-55.7 |
|
11 |
ALD Automotive |
31.4 |
18.7 |
59.5 |
49.5 |
-36.6 |
|
12 |
S Autoleasing |
27.5 |
3.3 |
12.1 |
88.2 |
-68.8 |
|
13 |
Arval |
20.6 |
20.6 |
100.0 |
27.8 |
-25.7 |
|
14 |
Raiffeisen-Leasing |
19.9 |
unknown |
n/a |
32.8 |
-39.5 |
|
15 |
Oberbank Leasing |
21.4 |
unknown |
n/a |
31.9 |
-32.8 |
|
16 |
Scania Finance |
16.0 |
unknown |
n/a |
49.3 |
-67.5 |
|
17 |
Unileasing |
20.1 |
unknown |
n/a |
37.8 |
-46.8 |
|
18 |
S Morava Leasing |
15.6 |
1.1 |
6.8 |
37.3 |
-58.2 |
|
19 |
Business Lease |
12.1 |
11.8 |
97.5 |
n/a |
n/a |
|
20 |
IKB Leasing |
11.8 |
10.3 |
87.3 |
22.4 |
-47.5 |
|
Total |
833.0 |
222.5 |
Average 27% |
Average: -50% |
||
|
Source: Leasing Life |
||||||
