24%
Deutsche Leasing Group has reported a 24 per cent increase in new
business written for the financial year ended September 30 2007,
bringing total new business to €7.8bn. Deutsche Leasing also
said cross-border leasing deals surpassed the €1bn benchmark for
the first time.
Go deeper with GlobalData
The company kept an optimistic new business growth target of 10
per cent to 11 per cent for 2008, citing a robust and growing
market for equipment leasing in Germany.
Deutsche Leasing did not make available preliminary consolidated
profit and loss statements for the year, although the company is
scheduled to release audited financial statements next March.
Last year, heightened competition and rising interest rates
caused Deutsche Leasing’s net profit to fall by 2.7 per cent to
€25.4m even as total revenue grew 2.7 per cent to €3.8bn from the
year before.
“We are now reaping the fruits of our consistent strategic
alignment as our spectacular growth in new business illustrates,”
said chairman, Hans-Michael Heitmüller.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataOf total new business, 35 per cent or €2.7bn came from leasing
contracts procured through savings banks. Of the 457 German savings
banks, 416 share the total equity in Deutsche Leasing.
“The objective is to open up the extensive range of products and
services to the savings banks and to adjust it to their
requirements on a sustained basis,” Deutsche Leasing said.
During the year Deutsche Leasing introduced a new consumer
finance product in the savings bank car loan, currently sold by a
quarter of the savings banks in Germany. This product segment
recorded €200m in new business for the year.
Meanwhile, overseas transactions are playing a bigger part in
revenue contribution. With new business growing by 30 per cent,
business transacted overseas has become the second largest business
segment.
Quoting market data, Deutsche Leasing said the leasing sector in
2007 will grow by 9.5 per cent through new business of €57.4bn.
Equipment leasing is cracking the €50bn level for the first time
while the total financial investment in equipment is growing by 8.2
per cent, according to estimates by the ifo Institut für
Wirtschaftsforschung.
