The Q3 2012 Leaseurope Index is the seventh edition of the survey, which tracks key performance indicators of a sample of 17 European lessors on a quarterly basis. 

The survey shows that the weighted average ratios for Q3 2012 deteriorated slightly compared to the same quarter of the previous year, but improved compared to Q2 2012 (with the exception of the cost income ratio).

Total new leasing volumes reported by the sample of firms decreased by 17.5% in comparison to the same quarter a year ago and were at a similar level seen in Q1 2012 (approximately €17 billion).

In terms of profit and profitability, with a few firms in the sample experiencing losses in the quarter, total pre-tax profit of all the companies decreased by 17.7% for Q3 2012 in comparison to Q3 2011. Nevertheless, the average profitability ratio increased from 26.1% in Q2 2012 to 30.1% in Q3 2012, returning to a similar level as that observed in 2011 (30.2%).

Compared to the same period a year ago, both operating income and operating expenses experienced negative developments. This caused the cost/income ratio rise to 47.9%, the highest value in 2012 so far.

Enrico Duranti, CEO of Iccrea BancaImpresa, commented: ‘While it is encouraging to see improvements on most fronts compared to Q2 2012, the results of the Q3 Leaseurope Index obviously still reflect the impact of continued economic headwinds. In particular, EU business investment remains weak and we have seen a fall in new volumes granted this quarter. This quarter’s results also show that European lessors must keep their eyes on the ball and in particular need to pay close attention to cost/income levels.’