The Portuguese Association of Leasing, Factoring, and Renting (ALF) announced positive results in 2024 for the three segments, with leasing showing a significant rise of 19.9%, vehicle renting increasing by 13.6%, and factoring experiencing a credit value gain of 3.4%.
Movable asset leasing saw a growth of 15.2%, surpassing a milestone by reaching 2.15 billion euros for the first time. This amount primarily funded light vehicles (32,417 units) and heavy vehicles (5,395 units), resulting in financing of 948 million euros and 579 million euros, respectively.
Leasing for equipment rose by 32.8%, amounting to 911 million euros.
Overall, leasing accounted for over 3 billion euros in financing and, according to ALF, was “the fastest-growing product in 2024.”
Meanwhile, renting has “established itself as a preferred solution for fleet management by companies and individuals,” contributing to a 7.2% increase in vehicle circulation and a 13.6% rise in new contracts, with results from 38,634 light vehicles and 1.2 billion euros.
The fleet managed through renting increased by 13.4% compared to 2023, reaching 2.82 billion euros, as composed of 136,965 vehicles in circulation meeting these criteria.
In treasury management for businesses, factoring “continued its upward trajectory” and grew by 3.4%, amounting to 45.7 billion euros.
The highest growth was recorded in payment management to suppliers (‘confirming’), which increased by 6.2%, or 1.24 billion euros, totaling over 21 billion euros.
International factoring saw a 2.1% growth in 2024, representing 5.8 billion euros, of which 5.3 billion euros were relevant to national exports.
“In 2024, despite the economic challenges in major European countries like France and Germany, and global uncertainty, we achieved sustained and continuous growth in the sectors we represent,” stated ALF President Luís Augusto in the report.
The Portuguese Association of Leasing, Factoring, and Renting comprises 25 members operating in the specialized financing market.
