Deutsche Leasing Explained

Deutsche Leasing AG
Type:Aktiengesellschaft
Foundation:January 10, 1962[1]
Location:Bad Homburg vor der Höhe, Deutschland
Key People:
Num Employees:2.919[3]
Industry:Leasing
Homepage:deutsche-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

Foundation and first decades

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

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

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

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.

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.

Subsidiaries and investments

Products

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]

External links

Notes and References

  1. News: Albrecht Dietz . Leasing im Jubiläumsjahr . Leasing in the anniversary year . . 1987-04-02.
  2. Web site: Deutsche Leasing Vorstand . deutsche-leasing.com . 2024-05-03.
  3. Web site: Financial reports: Business Year 2022/23 . PDF . 2024-05-03.
  4. Web site: Shareholders and supervisory board – 4. April 2016 . 2015-11-04 . 2016-03-05 . https://web.archive.org/web/20160305031937/https://www.deutsche-leasing.com/en/unternehmen/daten-und-fakten/gesellschafter-und-aufsichtsrat . dead .
  5. News: Albrecht Dietz 75 Jahre. . Albrecht Dietz celebrates his 75th birthday . . 2001-03-10.
  6. News: Albrecht Dietz (Nachruf) . Albrecht Dietz (obituary) . . 2012-03-27.
  7. News: Deutsche Auto-Leasing investiert täglich zwei Millionen DM. . Deutsche Auto-Leasing invests two million DM a day. . . 1995-09-21.
  8. Web site: Geschichte . istory . de . 2024-05-03.
  9. News: Andreas Dietz . Der Siegeszug einer grandiosen Idee . The triumph of a great idea . . 1987-04-02.
  10. News: Deutsche Leasing / Zufrieden mit Umsatz und Ertrag. Spezialisierung stärkte die Position im Markt . Deutsche Leasing / Satisfied with turnover and earnings. Specialization strengthens market position . . 1987-03-12.
  11. News: Deutsche Leasing / Risikovorsorge stark ausgebaut. Im Neugeschaeft tendiert Zuwachsrate gegen Null . Deutsche Leasing / Satisfied with turnover and earnings. Specialization strengthens market position . . 1993-03-23.
  12. News: Deutsche Leasing wird immer europaeischer . German leasing is becoming increasingly European . . 1993-11-23.
  13. News: Deutsche Leasing steigert Neugeschäft – In Kürze auch in Warschau aktiv – Dividendenkontinuität . Deutsche Leasing increases new business – soon also active in Warsaw – dividend continuity . . 1997-03-21.
  14. News: DIL startet in Frankreich . DIL starts in France . . 1999-02-10.
  15. News: Sparkassen übernehmen Deutsche Leasing AG . Sparkasse takes over Deutsche Leasing AG . . 1999-04-16.
  16. News: Deutsche Leasing wird in Russland aktiv . Deutsche Leasing becomes active in Russia . . 1999-10-20.
  17. News: Claudia Wanner . Deutsche Leasing wächst kräftig in Europa – Expansion nach Großbritannien geplant . Deutsche Leasing grows strongly in Europe – expansion to the UK planned . . 2002-07-09.
  18. News: Deutsche Leasing baut Auslandsgeschäft aus . Deutsche Leasing expands international business . . 2001-09-18.
  19. News: Cadi . Deutsche Leasing wächst gegen den Branchentrend . Deutsche Leasing grows against the industry trend . . 2003-02-25.
  20. News: Deutsche Leasing übernimmt zwei Wettbewerber . Deutsche Leasing takes over two competitors . . 2005-03-15.
  21. News: Anja Struve . Deutsche Leasing erwirbt zwei Konkurrenten . Deutsche Leasing acquires two competitors . . 2005-03-15.
  22. News: Dagmar Deckstein . Deutschlands stärkster Investor . Germany's strongest investor . . 2012-04-12.
  23. News: Christiane Lang . Deutsche Leasing diversifiziert in neue Branchen . Deutsche Leasing diversifies into new sectors . . 2010-06-15.
  24. News: Deutsche Leasing geht nach Brasilien . Deutsche Leasing goes to Brazil . . 2012-03-06 . de.
  25. Web site: Michael Hedtstück . Deutsche Leasing entert Factoring-Markt . Deutsche Leasing enters the factoring market . finance-magazin.de . 2012-06-29 . de . 2024-05-03.
  26. Web site: Antonia Kögler . Deutsche Leasing bündelt Factoring-Geschäft in Bremen . Deutsche Leasing bundles factoring business in Bremen . finance-magazin.de . 2016-07-05 . de . 2024-05-03.
  27. Web site: Dennis Schwarz . Deutsche Leasing spürt Folgen der Coronakrise – Ergebnis bricht ein . Deutsche Leasing feels the impact of the coronavirus crisis – earnings collapse . . 2021-03-17 . de . 2023-11-25.
  28. News: Tobias Fischer . Deutsche Leasing lässt Pandemie hinter sich . Deutsche Leasing leaves the pandemic behind . . 2022-03-14 . de.
  29. Web site: Deutsche Leasing zieht sich aus Russland zurück . Deutsche Leasing retires from business in Russia . deutsche-leasing.com . 2023-05-10 . de . 2023-12-13.
  30. Web site: Elisabeth Atzler . Sparkassentochter Deutsche Leasing stellt das Neugeschäft in Russland ein . Savings bank subsidiary Deutsche Leasing discontinues new business in Russia . . 2022-03-14 . de . 2024-05-03.
  31. Web site: Elisabeth Atzler . Systeme bei Deutsche Leasing seit fast einer Woche abgeschaltet . . 2023-06-09 . de . 2023-11-25.
  32. Web site: Elisabeth Atzler . Zwei Wochen nach dem Hackerangriff kann die Deutsche Leasing ihre Systeme wieder hochfahren . . 2023-06-18 . de . 2023-11-25.
  33. Web site: Annual Report 2020/21 . deutsche-leasing.com . en . 2024-05-03.
  34. News: Kevin Knitterscheidt . Raus aus der Effizienzfalle . Out of the efficiency trap . . 2022-06-01 . de.

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