STATISTICS - AFTER THE RECORFBREAKING RESULTS IN 2007
After the recordbreaking results in 2007, a pace of leasing development is still growing, although it is not as dynamic as in the previous year. In the first quarter of 2008 the value of movable and real estates market amounted to PLN8,31 bn, an increase of 20,4% compared with the same period of 2007.The value of the movable leasing market amounted to PLN 7,76 bln. The value of the real estate leasing market amounted to PLN 0,55 bln. Following capitalized purchases in movable market have been financed through leasing (the figures in brackets show how the values changed compared to the results in the first quarter of 2007):
- road transport vehicles for approximately PLN 5,1 bn (an increase of 21,5%),
- including passenger for approximately PLN 1,98 bn (41,1%),
- industrial machines and equipment for approximately PLN 2,3 bln. (50%),
- computers and office equipment for approximately PLN 0,13 bn (18,65),
- rail, aerial and sea transportations for approximately PLN 0,19 bn (165,4%),
- other fixed assets for approximately PLN 0,05 bn (37,3%).
In the first quarter of 2008 a structure of movable portfolio by object did not change significantly. A share of road transport vehicles slightly changed from 65,7 % in the end of 2007 to 65,5 % in the end of March 2008. The value of passenger cars leased in the first quarter of 2008 grew by 28,7% compared to a parallel period of the previous year. There was a similar situation concerning commercial vehicle market in which the value of vehicles leased grew by 14,7% in the first quarter of 2008 compared to 2007.
Leasing dynamics in a segment of passenger cars is still high and a share of leasing in financing vehicle purchases constantly grows. It is possible thanks to a permanent broadening of a range of services providing by leasing companies (tires exchange, fuel cards, costs managing) and rising quality of services.
Weaker results were achieved in leasing of truck-trailers and semi trailers, which value amounted to PLN 1,74 bn in the first quarter of 2008, that is only 40 mn more then in the analogous period of the previous year. Speaking about weaker dynamics of truch-trailers in 2008, we should remember that 2007 was recordbreaking - leasing financed purchases of truck trailers for almost PLN 5 bn and semi trailers for PLN 2,3 bn. Transport companies took advantage of a boom in the market for development and renew vehicle stock. Leasing dynamics in 2007 - measured on a quarter to quarter basis - amounted to 60%. Its decrease in 2008 was expected as so high dynamics as in 2007 coudn't last continuously. Additionally, other factors worsening the condition of the transport companies were involved in the weaker results of leasing compared to the previous year. First of all it was strong zloty and high oil prices and also wage pressure in the trade.
In the first quarter of 2008 there was a significant increase by 29,2% (PLN2,3 bn) in the segment of industrial machines and equipment, first and foremost of construction machinery and equipment, which let maintenance of high share of construction machinery and equipment in the industrial machines and equipment market, comparable to first quarter of the previous year (28,8-29,7%).
Although the mentioned share is comparable to the previous year it is worth to note that at the same time there was a significant (by 29,2%) growth of machinery and equipment leased.
In December of 2007 the economic climate indicator in the construction industry fell significantly, although it started to improve in the first quarter of 2008, and Polish Central Statistical Office (GUS) forecast further growth.
As regards to the real-estates market the results were a little worse then in 2007, the best year in the Polish leasing history. The value of object leased amounted to PLN 0,55 bn (compared to 0,85 bn in IQ of 2007), a decrease by 64 %. Although taking into considerations the relatively long time needed for real estate financing contracts to be prepared, the quarterly results are not reason for concern, all the more because of a boom in the real estate market.
In IQ of 2008 office buildings held the biggest share in real estate market (43%), next retail and service establishment (40%), industrial buildings (12%) and at last hotels and leisure establishments (5%).
Warszawa, 2008-04-25
Andrzej Sugajski Director of the Polish Leasing Association
Most of value of the real property market came from retail and service establishments (41%) and office buildings (34%). Industrial buildings ranked third with a market share of 19%; hotels and leisure establishments constituted 5%. The average value of leased property was as follows:
• retail and service establishments: PLN 32 mln,
• industrial buildings: 26 mln,
• offices: 15 mln,
• hotels and leisure establishments: 7 mln.