Portuguese specialised finance records robust growth in 2024

The Portuguese Association of Leasing, Factoring and Renting (ALF) has released its annual statistics for 2024, revealing a year of sustained and broad-based growth across the three specialised finance sectors it represents. From leasing to factoring and renting, the industry not only weathered international economic headwinds but also achieved new milestones, reinforcing its critical role in the Portuguese economy.

Leasing emerged as the fastest-growing segment, with a 19.9% increase in financed assets, surpassing the €3 billion mark for the first time. This growth reflects increased corporate investment and modernisation, particularly in vehicles and equipment. According to ALF data, vehicle and equipment leasing reached €2.15 billion, a rise of 15.2% compared to 2023. Of this total, €948 million financed 32,417 light vehicles, while €579 million covered 5,395 heavy vehicles. Equipment leasing contributed €629 million, and real estate leasing posted a notable 32.8% jump, reaching €911 million.

Meanwhile, the rental sector continued to cement its status as a key fleet management solution for both companies and private clients. In 2024, 38,634 new light vehicles were introduced to Portuguese roads under rental contracts, totalling nearly €1.2 billion in new business—a 13.6% increase in value and 7.2% in volume. The sector’s growth was driven in part by a rising average vehicle value, fuelled by the increasing adoption of electrified vehicles and persistent inflation in the automotive industry.

The total value of the managed rental fleet grew by 13.4%, reaching €2.82 billion, with a total of 136,965 light vehicles in operation. Notably, more than 80% of these were passenger vehicles, and the ongoing shift toward electric and hybrid models reinforced rental’s contribution to national decarbonisation efforts.

Factoring also maintained a steady upward trajectory, with receivables reaching an all-time high of €45.7 billion, marking a 3.4% increase over 2023. Growth was observed across all types of factoring—domestic, international, and confirming. Confirming services, which support companies in managing supplier payments, posted the strongest performance, with a 6.2% increase and total receivables exceeding €21 billion for the first time. International factoring, driven largely by exports, reached €5.8 billion, a 2.1% increase.

“In 2024, despite the economic challenges of major European countries such as France and Germany, and global uncertainty, we recorded sustained and continuous growth in the sectors we represent. The results achieved confirm the crucial role of leasing, factoring and renting in supporting economic development and the modernisation of Portuguese companies.”