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Deutsche Leasing

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Deutsche Leasing AG
Company typeAktiengesellschaft
IndustryLeasing
FoundedJanuary 10, 1962[1]
HeadquartersBad Homburg vor der Höhe, Deutschland
Key people
Number of employees
2,919[3]
Websitedeutsche-leasing.com

Deutsche Leasing AG (DL) is a manufacturer-independent leasing company in Germany. Since 1987, the company has had its headquarters in Bad Homburg vor der Höhe and is the main leasing partner for the Sparkassen-Finanzgruppe. Shares are held by approximately 350 Sparkassen (savings banks), either directly or indirectly through holding companies.[4] Deutsche Leasing is the sole shareholder of Deutsche Anlagen-Leasing in Wiesbaden.

History

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Foundation and first decades

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Deutsche Leasing at Bad Homburg

Deutsche Leasing GmbH, among Germany's first leasing companies, was entered in the Commercial Register in Düsseldorf on January 10, 1962.[1] The two other predecessor companies of Deutsche Leasing were Maschinen-Miete GmbH and Mietdienst GmbH, which were founded in 1962 and 1963 respectively.[1][5] In 1971, these three companies merged to form Deutsche Leasing AG. Until 1991 the founder of Maschinen-Miete GmbH, Albrecht Dietz, was Chairman of the Board of the new company.[6]

In 1970, the company founded the subsidiary Deutsche Auto-Leasing GmbH,[7] which introduced leasing for private individuals for the first time in Germany from 1975.[8] The founding of LGS Leasinggesellschaft der Sparkasse GmbH in 1982 enabled the company to integrate its leasing offer into the financing offer of the savings banks.[9] In April 1987, Deutsche Leasing moved into its administrative building in Bad Homburg vor der Höhe.[10]

Expansion and Internationalization

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The first foreign company was founded in Italy in 1993,[11] followed by further companies in Hungary, the Czech Republic and France.[12] In 1995, Deutsche Leasing AG became a partner of the Sparkassen-Finanzgruppe.[8] Two years later, the company founded the subsidiary Polski Leasing Przemyslowy S.A. in Warsaw, Poland.[13] A French subsidiary commenced operations in 1999 under the name Deutsche Immobilien Leasing GmbH (DIL), thereby expanding its range of services to include real estate leasing business.[14] In addition, savings banks acquired the shares of Deutsche Leasing from several Landesbanken, Hamburger Sparkasse and Landesgirokasse Stuttgart via holding companies at a price of DM635 million.[15] Deutsche Leasing began a cooperation with a partner company in Russia and founded Deutsche Leasing Vostok.[16]

In 2002, the company founded further subsidiaries in Spain[17] and Slovakia[18] and a subsidiary in England in the following year.[19] With the acquisition of the majority of shares in Anlagen- und Grundstückvermietgesellschaft mbH & Co. the majority of the shares in Anlagen- und Grundstücksvermietungsgesellschaft mbH & Co. KG (AGV) and Deutsche Anlagen-Leasing GmbH & Co. KG (DAL) in 2005, Deutsche Leasing expanded its offering in the real estate sector.[20][21]

In 2008, leasing companies were placed under the supervision of the Financial Market Authority in Germany.[22] In 2009, Deutsche Leasing opened branches in Austria, the Netherlands, and the Benelux countries.[23] This was followed by the establishment of further companies in Sweden, Ireland, Portugal, and Brazil by 2012.[24]

Recent Developments

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In 2012, Deutsche Leasing took over Universal Factoring.[25] This was followed by the acquisition of a majority stake in Deutsche Factoring Bank in 2016.[26]

Deutsche Leasing's net profit for the 2019/2020 financial year fell by 56% from €87 million to €38 million,[27] but in 2020/2021 the annual result returned to the pre-Covid-19 period.[28]

In response to the Russian invasion of Ukraine, the company stopped new business in Russia at the beginning of March 2023 and eventually sold its Russian subsidiary.[29][30]

In June 2023, Deutsche Leasing was the target of a hacker attack. The company shut down its IT systems for two weeks after the attack was discovered.[31][32]

Corporate structure

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The company's legal form is an Aktiengesellschaft, meaning it is a stock corporation owned by its shareholders, and part of the Sparkassen-Finanzgruppe, and around 350 savings banks are shareholders through their association. The Deutsche Leasing Group is represented by its business segments and its subsidiaries DAL Deutsche Anlagen-Leasing GmbH & Co. KG, Deutsche Leasing Finance GmbH and Vent.io GmbH, the subsidiary Deutsche Factoring Bank GmbH & Co. KG as well as other investments focused on the asset finance and asset service segment. The company has subsidiaries in 20 different countries in Europe, Asia, and America. The company's focus is business-to-business with middle-sized companies.[33] The company's total assets amounted to €24.2 billion in the 2022/23 financial year.[3]

Deutsche Leasing uses the savings bank business as a sales channel, where the savings banks can access Deutsche Leasing's offerings and offer them to their customers. The company also has a direct business, which enables it to offer its products and services beyond the circle of savings bank customers. Finally, the partner business is another sales channel through cooperation with dealers and vendors.[3]

Subsidiaries and investments

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  • Deutsche Anlagen-Leasing GmbH & Co. KG: offers financing for real estate, transportation, logistics, (renewable) energy projects, medical technology, IT business and financing solutions for intangible assets and current assets.
  • Deutsche Leasing Insurance Services GmbH: is responsible for the Group's insurance business.
  • Deutsche Leasing Finance GmbH: offers asset-related credit financing, in particular investment loans and dealer purchase financing.
  • Deutsche Factoring Bank GmbH & Co. KG: is responsible for factoring.
  • Bad Homburger Inkasso GmbH: is active in the areas of bad debts and realization of collateral.
  • S-Kreditpartner GmbH: submits offers for private car and consumer loans.
  • Vent.io: deals with the evaluation of machine data with regard to factors such as capacity utilization and wear and tear for financing advice[34]

Products

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Deutsche Leasing's first leasing object and the first leasable investment in Germany was a 1962 Sweda cash register. Deutsche Leasing AG offers a range of leasing services, including:[33][3]

  • Machines leasing (agricultural technology, construction equipment, printing presses, plastic manufacturing plant, medical technology, machine tools)
  • Vehicle leasing (passenger vehicles, commercial vehicles, vehicle fleets, vehicle trading)
  • IT and communications leasing (hardware leasing, software leasing, software project leasing)
  • Energy development leasing (for example, renewable energy, power stations, heating systems)
  • Real estate leasing
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Wikimedia Commons has media related to Deutsche Leasing.

References

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  1. ^ a b c Albrecht Dietz (1987-04-02). "Leasing im Jubiläumsjahr" [Leasing in the anniversary year]. Handelsblatt.
  2. ^ "Deutsche Leasing Vorstand". deutsche-leasing.com. Retrieved 2024-05-03.
  3. ^ a b c d "Financial reports: Business Year 2022/23" (PDF). Retrieved 2024-05-03.
  4. ^ "Shareholders and supervisory board – 4. April 2016". Archived from the original on 2016-03-05. Retrieved 2015-11-04.
  5. ^ "Albrecht Dietz 75 Jahre" [Albrecht Dietz celebrates his 75th birthday]. Frankfurter Allgemeine Zeitung. 2001-03-10.
  6. ^ "Albrecht Dietz (Nachruf)" [Albrecht Dietz (obituary)]. Börsen-Zeitung. 2012-03-27.
  7. ^ "Deutsche Auto-Leasing investiert täglich zwei Millionen DM" [Deutsche Auto-Leasing invests two million DM a day.]. Frankfurter Allgemeine Zeitung. 1995-09-21.
  8. ^ a b "Geschichte" [istory] (in German). Retrieved 2024-05-03.
  9. ^ Andreas Dietz (1987-04-02). "Der Siegeszug einer grandiosen Idee" [The triumph of a great idea]. Handelsblatt.
  10. ^ "Deutsche Leasing / Zufrieden mit Umsatz und Ertrag. Spezialisierung stärkte die Position im Markt" [Deutsche Leasing / Satisfied with turnover and earnings. Specialization strengthens market position]. Handelsblatt. 1987-03-12.
  11. ^ "Deutsche Leasing / Risikovorsorge stark ausgebaut. Im Neugeschaeft tendiert Zuwachsrate gegen Null" [Deutsche Leasing / Satisfied with turnover and earnings. Specialization strengthens market position]. Handelsblatt. 1993-03-23.
  12. ^ "Deutsche Leasing wird immer europaeischer" [German leasing is becoming increasingly European]. Süddeutsche Zeitung. 1993-11-23.
  13. ^ "Deutsche Leasing steigert Neugeschäft – In Kürze auch in Warschau aktiv – Dividendenkontinuität" [Deutsche Leasing increases new business – soon also active in Warsaw – dividend continuity]. Börsen-Zeitung. 1997-03-21.
  14. ^ "DIL startet in Frankreich" [DIL starts in France]. Frankfurter Allgemeine Zeitung. 1999-02-10.
  15. ^ "Sparkassen übernehmen Deutsche Leasing AG" [Sparkasse takes over Deutsche Leasing AG]. Frankfurter Allgemeine Zeitung. 1999-04-16.
  16. ^ "Deutsche Leasing wird in Russland aktiv" [Deutsche Leasing becomes active in Russia]. Handelsblatt. 1999-10-20.
  17. ^ Claudia Wanner (2002-07-09). "Deutsche Leasing wächst kräftig in Europa – Expansion nach Großbritannien geplant" [Deutsche Leasing grows strongly in Europe – expansion to the UK planned]. Financial Times Deutschland.
  18. ^ "Deutsche Leasing baut Auslandsgeschäft aus" [Deutsche Leasing expands international business]. Handelsblatt. 2001-09-18.
  19. ^ Cadi (2003-02-25). "Deutsche Leasing wächst gegen den Branchentrend" [Deutsche Leasing grows against the industry trend]. Die Welt.
  20. ^ "Deutsche Leasing übernimmt zwei Wettbewerber" [Deutsche Leasing takes over two competitors]. Frankfurter Allgemeine Zeitung. 2005-03-15.
  21. ^ Anja Struve (2005-03-15). "Deutsche Leasing erwirbt zwei Konkurrenten" [Deutsche Leasing acquires two competitors]. Die Welt.
  22. ^ Dagmar Deckstein (2012-04-12). "Deutschlands stärkster Investor" [Germany's strongest investor]. Süddeutsche Zeitung.
  23. ^ Christiane Lang (2010-06-15). "Deutsche Leasing diversifiziert in neue Branchen" [Deutsche Leasing diversifies into new sectors]. Börsen-Zeitung.
  24. ^ "Deutsche Leasing geht nach Brasilien" [Deutsche Leasing goes to Brazil]. Frankfurter Allgemeine Zeitung (in German). 2012-03-06.
  25. ^ Michael Hedtstück (2012-06-29). "Deutsche Leasing entert Factoring-Markt" [Deutsche Leasing enters the factoring market]. finance-magazin.de (in German). Retrieved 2024-05-03.
  26. ^ Antonia Kögler (2016-07-05). "Deutsche Leasing bündelt Factoring-Geschäft in Bremen" [Deutsche Leasing bundles factoring business in Bremen]. finance-magazin.de (in German). Retrieved 2024-05-03.
  27. ^ Dennis Schwarz (2021-03-17). "Deutsche Leasing spürt Folgen der Coronakrise – Ergebnis bricht ein" [Deutsche Leasing feels the impact of the coronavirus crisis – earnings collapse]. Handelsblatt (in German). Retrieved 2023-11-25.
  28. ^ Tobias Fischer (2022-03-14). "Deutsche Leasing lässt Pandemie hinter sich" [Deutsche Leasing leaves the pandemic behind]. Börsen-Zeitung (in German).
  29. ^ "Deutsche Leasing zieht sich aus Russland zurück" [Deutsche Leasing retires from business in Russia]. deutsche-leasing.com (in German). 2023-05-10. Retrieved 2023-12-13.
  30. ^ Elisabeth Atzler (2022-03-14). "Sparkassentochter Deutsche Leasing stellt das Neugeschäft in Russland ein" [Savings bank subsidiary Deutsche Leasing discontinues new business in Russia]. Handelsblatt (in German). Retrieved 2024-05-03.
  31. ^ Elisabeth Atzler (2023-06-09). "Systeme bei Deutsche Leasing seit fast einer Woche abgeschaltet". Handelsblatt (in German). Retrieved 2023-11-25.
  32. ^ Elisabeth Atzler (2023-06-18). "Zwei Wochen nach dem Hackerangriff kann die Deutsche Leasing ihre Systeme wieder hochfahren". Handelsblatt (in German). Retrieved 2023-11-25.
  33. ^ a b "Annual Report 2020/21" (PDF). deutsche-leasing.com. Retrieved 2024-05-03.
  34. ^ Kevin Knitterscheidt (2022-06-01). "Raus aus der Effizienzfalle" [Out of the efficiency trap]. Handelsblatt (in German).
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