CHG Meridian, the German-based IT lessor, has successfully
ridden the wave of the credit crunch after announcing an impressive
growth spurt in total volume of seven per cent for year-end
2007.
Foreign European markets constituted the majority of CHG’s
€655.7m volume of business, contributing 39.4 per cent to new
investment, while Germany remained at the same level as the year
before.
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CHG’s Eastern European business, which covers Russia, Poland,
the Czech Republic and Slovakia, more than doubled its volume of
lease originations year-on-year during the first nine months of
2007.
Its Spanish subsidiary grew the most compared with its Western
European subsidiaries, increasing its lease origination by 70 per
cent during the period. Subsidiaries in Italy and the UK grew 50
per cent in the year to September 2007, despite challenging market
conditions.
CHG is active in the operating leasing of IT equipment, as well
as providing structured project financing, including additional
sales services, secure data management, online asset management
and, in particular, effective disposal methods of used
equipment.
Commenting on the company’s growth, Steve Swiatek, sales
director of CHG Meridian UK, said: “Our ability to provide a
disposal service is a major reason why clients will want to engage
with us. Other companies offer third-party disposals, so the fact
we do it ourselves means there’s not a conflict between what is
returned and what is processed.”
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By GlobalData“Under the WEE directive, disposals are becoming a growing
business,” he added.
CHG, which has 25 offices across 14 countries and around 500
employees, reprocessed and remarketed more than 300,000 machines in
Europe last year, a figure that it expects to exceed in 2008.
In 2007, the group increased its portfolio by a modest 3 per
cent to €2.1bn, while, in 2008, it aims to win more market share,
particularly in Germany, through combining financing and IT service
management.
In the UK, CHG’s strongest segment is the public sector, which
comprises about 30 per cent of its new business volume.
CHG Meridian UK also provides to corporate FTSE 350 companies
and, since one of its vendor finance partners recently moved into
the mid-market sphere, CHG now provides financing for SMEs.
