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LEASING UP 18 PCT IN 2004 IN ITALY, THIRD LARGEST MARKET IN EU

Monday, June 13, 2005

Again some fascinating numbers for Rome in the leasing sector. The leasing numbers are staggering. AGI online posted this article.

(AGI) - Rome, June 13 - Leasing closed the year in Italy with an increase of 18 percent, with a total stipulation above 38 billion euro.

The two figure increase continued in the first quarter of 2005, during which the leasing sector saw a gain of 18.6 percent with a total stipulation of more than 12.2 billion (10.3 billion in the first quarter 2004).

The growth characterised all sub sectors, but above all in real estate (up 19 percent in 2004, up 45 percent in the first quarter of 2005), which represents 44 percent of the Italian leasing.

The best performances were seen in large operations (above 2.5 million) on already built building, showing that companies use leasing to balance their debt in the medium term, increasing the operational spectrum of leasing.

The instrumental sector, the second most important (with 27 percent of products) is the most directly connected to the dynamics of companies, which closed the year with more than 11 billion (up 16 percent), while in the first quarter of 2005, it registered a gain of 2.73 percent, showing a weak economic situation.

Auto leasing increased 8.5 billion euro in 2004 (up 13 percent), while in the first four months of 2005, it substantially reconfirmed quarterly dynamics of last year (up 1.2 percent), a result that is positive seen the weakness in car sales. It should be said that in this sector, there was an increasing confirmation of medium to long term rentals by leasing companies.

The strong increase in the yachting sector was also seen (up 54 percent in 2004, up 32 percent in the first quarter of 2005), where yacht leasing increased in a few years from a market share below 1 percent to the current 3.3 percent. (AGI).

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