Austria’s leasing industry recorded an 8.8 percent increase in
new business to €5.7bn in 2010, up from €5.2bn in 2009. However,
this remained well below the €6.9bn mark reached in 2008.
Figures from the Association of Austrian
Leasing Companies (VÖL) show that vehicle leasing grew by 5.4
percent to €3.3bn, and equipment leasing increased 4.1 percent to
€1.3bn. Real estate leasing had the strongest rebound, up 26.3
percent to €1.2bn.
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VÖL president Rudolf Fric said: “Our
expectations of a recovery of the Austrian leasing market in 2010
came true. We attained considerable growth in all segments. The
explicit gain in real estate leasing in comparison to 2009, results
from investments by the public sector.”
The quality of Austrian lessors’ portfolios
showed improvements. “The most negative impact on the Austrian
leasing industry was already covered by loss provisioning in 2009
and 2010,” Fric said. “Because of its fragmented structure, the
Austrian SME sector remained stable even during the crisis. For
2011 we are quite sure that arrears, as well as the stability of
residual values, should be on 2008 level again, provided that the
actual concerns about rising oil and petrol prices don’t come
true.”
The association has seen a steady rise in
demand, particularly for vehicles, in the first two months of 2011.
It expects investments for equipment and buildings to further
increase, too. Leasing outstandings reached €23bn at the end of
2010.
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