CHG-MERIDIAN AG
CHG-MERIDIAN reports record growth for 2011
CHG Meridian Deutsche Computer Leasing AG / Key word(s): Final Results CHG-MERIDIAN reports record growth for 2011 – The technology leasing specialist aims to generate lease originations in excess of EUR1 billion – Recently founded subsidiary CHG-MERIDIAN Mobilien GmbH plans to originate leases worth around EUR40 million in 2012 – Broader funding base owing to syndicated loans from savings banks and credit cooperatives CHG-MERIDIAN, a non-listed technology leasing specialist headquartered in Weingarten in southwest Germany, aims to generate in excess of EUR1 billion from lease originations in 2012. Jürgen Mossakowski, the chairman of the Management Board, announced at the Company's annual press conference in Stuttgart that the sum total of all new leases signed during the record-breaking year of 2011 had surged by 30 percent to EUR858 million (2010: EUR661 million). By contrast, the Federation of German Leasing Companies (BDL) reported at the end of 2011 that the German equipment leasing market had grown by only 11.8 percent year on year. 'In view of this positive trend we have set ourselves the target within the next two years of generating a lease origination volume in excess of EUR1 billion', said Jürgen Mossakowski. Record growth: gross profit highest figure ever The Company was particularly successful in the German market and is one of the leading providers in its sector: No other leasing company in this service segment has delivered such a consistently strong financial performance. In 2011, CHG-MERIDIAN achieved its highest international growth rates in southern Europe and North America (Mexico and the United States). Despite significant capital expenditure both inside and outside of Germany, this record level of domestic and international growth has also boosted the Company's earnings: its gross profit (present value of all new leases and remarketed assets minus direct acquisition and funding costs) rose by roughly 12 percent to EUR118 million in 2011 (2010: EUR105 million), which is the highest figure in the Company's history. Outlook: Further growth for 2012 expected The CHG-MERIDIAN Group now intends to use this successful strategy to generate further growth outside of the IT sector. In December 2011 it therefore set up the subsidiary CHG-MERIDIAN Mobilien GmbH, which will initially offer financing solutions for the procurement of production machinery and equipment in Germany. The Group expects to generate lease originations worth a total of some EUR40 million in the first year of this business. The main focus will still be on the IT market. The Company's entry into the South American market will also have a positive effect. CHG-MERIDIAN is pressing ahead with its ongoing international expansion as a matter of urgency. It already operates a rental company in Brazil and plans to add a leasing company to this presence by the end of 2012. Brazil's national financial regulator has yet to approve this but is expected to give its final consent by the end of the first quarter of this year. Brazil is one of the fastest-growing IT investment markets. In addition to six locations in Germany the Company maintains 25 branch offices in 18 other countries. Total headcount grew to 718 people worldwide on the back of the strong growth (2010: 657 employees), of which 362 people worked in Germany (2010: 344 employees).
CHG-MERIDIAN
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