LEASINT (INTESA SANPAOLO GROUP) – RESULTS AS AT 31 DECEMBER 2011. LOANS AND NET INCOME ON THE RISE
Loans equal to 18.4 billion euro, +6.2% compared to 2010
Net income for the period: 51.1 million euro, +21.4% compared to 2010
9,326 new contracts entered into, amounting to 3.53 billion euro
The company continues to be a leader in loans to the Energy sector with a market share of 34.3%
Milan, 29 march 2012 – The Board of Directors of Leasint, a leasing company of the Intesa Sanpaolo Group led by Edoardo Bacis, convened under the chairmanship of Orazio Rossi, approved the draft financial statements for 2011, which show extremely positive results.
With regards to commercial operations, in 2011 Leasint entered into 9,326 new contracts amounting to a total value of 3.53 billion euro (92% of which through the Intesa Sanpaolo Group network). The market share went up from 12.9% in 2010 to 14.4%. Loans to the Energy sector alone highlighted a turnover equal to 1.38 billion euro, thus reaching a market share of 34.3%.
Thanks to these results, the amount of outstanding receivables as at 31 December stands at 18.4 billion euro, up by 6.2% compared to 2010.
The gross income for 2011 is equal to 207.7 million euro, with a 1.3% increase; when added to the net operating income, this amounts to a total of 230.8 million euro (+0.3% compared to 2010).
The administrative expenses, inclusive of adjustments to property, equipment and intangible assets, and costs incurred in relation to the agreement dated 29 July 2011 (provision for redundancy) for 4.7 million euro - entirely expensed in the period - amount to 49.6 million euro.
Net income for the period, after expenditure for net adjustments to loans amounting to 85.9 million euro, stands at 51.1 million euro, up by 21.4% compared to 2010.
The cost/income calculated on the gross income, plus the net operating income and the time value release, is equal to 20%; when recalculated net of the provision for redundancy costs, it stands at 18.1 %.
As at 31 December 2011, shareholders’ equity inclusive of income for the period amounts to 951.5 million euro.
Leasint belongs to the Intesa Sanpaolo Group, which owns 100% of its capital.
In this framework, it monitors the Italian leasing market using the Group’s banking networks as sales channels as well as extra captive channels such as brokers, intermediaries and suppliers by controlling Centro Leasing.
The company is one the sector's top leaders thanks to a portfolio of 50,000 customers and 18 billion euro worth of loans. With a workforce of 400 specialists, it relies on the collaboration of the 5,600 branches of the Group’s banks for the sale of its products.
Leasint operates in all segments both from the point of view of customer types (all segments of the “enterprise” world – from multinationals to SMEs – but also craftsmen, professionals, retailers and private individuals) and products.
More specifically, Leasint is a leader in loans for plants producing renewable energies, with experience in over 1000 plants amounting to 1.5 Gigawatts of power.
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Last updated 29 March 2012 at 15:52