BRATISLAVA, November 29 (WEBNOVINY) — Companies clustered in the Association of Leasing Companies in Slovakia concluded new contracts for EUR 1.378 billion in the first nine months of the year on 23.2-percent y/y growth. Chairman of the association’s board Juraj Ebringer stated that extraordinary deals for financing of photovoltaic equipment substantially contributed to the growth. Net of this influence, the year-on-year development otherwise complies with association’s expectations for this year with growth standing at 10-15 percent. Ebringer elaborated that the growth has already started slowing down to single digit levels in this quarter in anticipation of uncertain economic development in Slovakia and neighboring European countries.
The highest hike in annual terms in the monitored period was registered in financing of machinery and equipment. Although procurement and financing of some types of technologies is still affected by demand slump on companies’ part (e.g. in the healthcare sector, wood-proceeding industry or construction sector), other sectors posted a significant growth. Besides the above-mentioned photovoltaic equipment, especially new financing in machine engineering, agriculture and food processing industry expanded. The overall volume of financing of machinery and equipment totaled EUR 311.1 million on a year-on-year increase of 62 percent.
Utility vehicles above 3.5 tons, which was the second most important commodity considering the newly-concluded deals, posted a 41-percent increase to EUR 244.1 million. Financing of new trucks, tractors, special construction vehicles, trailers and semitrailers, where growth exceeded 70 percent, substantially contributed to this positive development. On the other hand, a 30-percent year-on-year drop was registered in financing of used trucks and buses. A 17-percent increase to EUR 551.9 million was registered in financing of passenger cars. This mostly concerned financing of new cars, whereof passenger cars for businessmen accounted for 24 percent while financing of cars for private individuals swelled 3 percent.
Financing of real estate totaled EUR 119.8 million on a 46-percent y/y hike after the first nine months of the year. Financial leasing of existing, i.e. older buildings in the sector of retail and industrial property was the major driving force in the real estate leasing segment. Operative leasing was the most successful product with a 49-percent year-on-year hike to EUR 147.2 million. Financial leasing bolstered 30 percent to EUR 684.1 million.
SITA