Alba Leasing reports growth in H1 2024 profits

Italian leasing company, Alba Leasing, has reported a substantial increase in profitability for the first half of 2024, despite challenging market conditions. The Board of Directors, chaired by Paolo Guzzetti, reviewed and approved the financial results for the first six months of the year, revealing a continuation of the company’s growth trajectory.

For the period ending June 30, 2024, Alba Leasing achieved a pre-tax income from continuing operations of €18.7 million, marking a significant improvement from the same period last year. The company’s net profit reached €12.7 million, more than doubling from €5.6 million in June 2023. This growth was achieved despite ongoing economic uncertainty, which has dampened demand for new investments by small and medium-sized enterprises (SMEs).

However, while profitability surged, the total value of contracts signed in the first half of 2024 decreased to €765.2 million, reflecting a 15.51% decline compared to the same period in 2023. This drop was primarily driven by a sharp 40.39% decline in the equipment sector. Despite this sector’s contraction, other areas of the business experienced positive growth. The motor sector saw a 34.91% increase in contract value, while the air, rail and sea and rea estate sectors grew by 6.32% and 6.41%, respectively.

The broader leasing market also experienced a downturn during the first half of the year, which impacted overall demand. Despite this, Alba Leasing maintained its strong market position, consolidating its third place in the market ranking for both financial and operating leasing, with a 7.03% market share.

The company also achieved notable rankings in several key segments, securing 4th position in the renewable energy sector with a 10.19% market share, 4th in the equipment sector with 7.06%, 3rd in the air-sea and rail sector with 18.06%, and the top position in the real estate sector with a commanding 18.15% market share.