With the movables leasing
segment growing by over 12 percent last year, Jason T Hesse discovers that the
Austrian leasing market is one to watch.
Go deeper with GlobalData
Data for 2008 from the Austrian leasing association, the
Verband Österreichischer Leasing-Gesellschaften, showed that
leasing volumes for movables – largely made up of plant, machinery
and big ticket items – grew from €3.9 billion to €4.4 billion in
2008.
Although the movables segment
accounts for only 19 percent of total Austrian leasing volumes,
with property making up 49 percent, and vehicles 32 percent, it
nevertheless saw the most year-on-year growth in 2008.
Companies
Of the total leasing
companies, the top three lessors accounted for over half of total
market share.
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By GlobalDataUniCredit Leasing was the top
lessor, with a 21.6 percent market share, followed closely by two
Austrian lessors, Raiffeisen Leasing (16.4 percent) and Immorent
(14.8 percent). All three lessors saw above-average growth, with
UniCredit Leasing in the lead, growing volumes by over 25
percent.
While all of the top 10 lessors in
Austria saw leasing volumes grow in 2008, the captive financiers
Xerox Leasing and IBM Österreich, which were in 11th and 12th place
respectively, both saw a decline in volume. Xerox saw volumes
halve, from €204.3 million to €99.1 million in 2008, while IBM saw
a decline of nearly 20 percent, to €93.2 million.
Overall, new leasing contracts
increased by 25,247 units, to reach a total of 88,663 for the
country. The IT and office equipment segment saw the highest
growth, increasing by nearly 10 percent, or 1,202 new
contracts.
From a lessor perspective,
Immorent signed the most deals, with 4,629 new contracts, followed
by UniCredit Leasing with 3,783 new contracts.
Provinces
A regional analysis of new
business in Austria shows wide discrepancies between provinces. For
example, while Salzburg saw an impressive 47.3 percent increase
year-on-year or €66 million, new business in Carinthia and Upper
Austria fell by more than €31 million.
The vehicle leasing segment also
saw differences in volumes depending on the region. The Upper
Austria province saw a rise of nearly 10 percent, while Carinthia
saw a 6.2 percent decline. In total, however, volumes were up by
5.9 percent year on year, to total €7.6 billion.
The top three vehicle lessors by
volume in 2008 were Porsche Bank (€1.4 billion), EBV-Leasing (€818
million), and BAWAG PSK. Leasing (€625 million), all of which
managed to grow volumes in 2008 compared with the previous
year.
