"It has now become the third-largest sector of the leasing industry in Poland," ING Lease president Krzysztof Bielecki said. Immovable property now makes up nearly 18 percent of the leasing industry in Poland.
"The real-estate sector is developing very rapidly, but it began from a low base. The movable-property sector is developing like a mature market," the president of BRE Leasing Mieczysław Groszek, explained. The latter still makes up the bulk of the value of the leasing sector in Poland. Out of the total zł.13.8 billion, road-going vehicles (automobiles and trucks) make up around zł.8.8 billion (63.7 percent), heavy machinery and industrial equipment amounted to zł.4.26 billion (30.8 percent), with computers and office equipment as well as rail, air and water transport making up the remaining 5.5 percent.
Road-going vehicles continue to dominate the movable-goods sector, despite their share of the market falling from 73 percent in 2004. However, in terms of value it managed to stay at the same level. "We managed to defend our position despite the changes in VAT, which reduced the attractiveness of leasing cars, and the huge influx of used cars," Groszek said.
"We are seeing a fall in leased cars below 3.5 tonnes. Growth is seen among cars over 3.5 tonnes - this means that the economy is developing," Jarosław Borzymowski of VB Leasing commented.
Although the growth rate of the sector slowed in 2005, he added that this comes after a few years of very rapid growth.
The leasing of heavy machinery and industrial equipment increased by 50 percent and now makes up over 30 percent of the movable goods leasing market. "This was the most spectacular increase among the movable goods in leasing," the president of BPH Leasing Mieczysław Woniak said. He added that of the increase of zł.1.5 billion in the movable-property sector, zł.1.4 billion was in machines and industrial equipment. He explained that this was mainly due to a crisis in the sales of new cars, which caused leasing companies to look for profits in other sectors. Another reason was the visible growth in interest for leasing among corporate clients.
The industry is optimistic about the new year. "2005 was a good year. We hope that 2006 will be even better," Groszek said.
Industry representatives underline that the development of the industry is linked with the macroeconomic situation of the country and entrepreneurs' inclination to invest.
"Economic growth will be our biggest ally, as the leasing sector is closely connected to the situation in the economy," he added. When asked about their predictions for the industry's growth for this year, the members of ZPL's Executive Committee expected a growth rate higher than in 2005, of between 15 and 20 percent.
Michał Pakulniewicz
According to estimates from the Polish Leasing Association (ZPL), the leasing market in Poland was worth zł.16.3 billion in 2005. Of this, movable goods amounted to an estimated zł.13.8 billion, while the leasing of real estate was worth some zł.2.5 billion.
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