UniCredit Leasing posted a net profit of €117
million last year, significantly down from 2008 figures, but “still
a very positive result in the current economic situation”,
according to the company’s CEO Massimiliano Moi.
The operating profit was €525 million – in
line with 2008, although the company suffered loan loss provisions
totalling €345 million due to the market deterioration.
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New production was 35 percent down with a
volume of €8 billion. However, the lessor managed to increase its
market share and gained a top three position in 13 countries out of
the 17 where it has a presence.
Moi said he expected to see signs of recovery
in the second half of 2010, although full recovery is only expected
in 2011.
He added that despite the blow suffered by
leasing in Eastern Europe, the commitment to CEE region remains
unchanged, and growth prospects are high in the long term.
An in-depth article on UniCredit Leasing
will appear in the May issue of Leasing Life.
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