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Saturday 16.12.2017 | Name days: Alvīne
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SEB leasing: procurements of agricultural machinery grew considerably in first half-year of 2015

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUIn the first six months of 2015, the number of purchases of agricultural machinery financed by SEB Leasing grew considerably in comparison with the same period of the year before. This increase is mostly due to the funding allocated by the Rural Support Fund.

In the first half-year of 2015, SEB Leasing helped finance nearly 300 deals for the procurement of agricultural machinery.

SEB Leasing manager Nellija Kocanova: «Looking back at our work in the first half-year we are satisfied that we are on the second place in terms of all agricultural machinery sales in Latvia. We provide 23% of funding for this. In terms of different types of agricultural machinery, we are a market leader in financing of tractor trailers and second in terms of financing procurements of tractors and combines.»

The volume of agricultural machinery financed by SEB Leasing, compared with the first half-year of 2014, has grown 3%, reaching EUR 12 million. The head of SEB Leasing notes that 80% of all deals with agricultural machinery took place with co-funding from Rural Support Service. The slight increase of the funding amount can be explained with the fact that clients currently seem mostly interested in lifting equipment, which makes for 60% of all agricultural machinery procurement deals.

Looking at market development perspectives, Nellija Kocanova admits: «Unless changes are added to current legislation, we may yet see a breakthrough in the field of Latvia’s agriculture industry’s financing before the end of the year. Recent years have shown that farmers expect EU co-funding to come through in order to procure the necessary machinery in leasing. This option is much more economically sound than taking a loan or using personal funds.»

SEB Leasing data states that based on information from different regions, the majority of agricultural machinery procurement deals in the first half-year of 2015 have been carried out by companies working in Vidzeme (32%) and Zemgale (21%), which are followed by Kurzeme (18%), Latgale (17%) and Riga (11%).

Ref: 103.109.109.4347


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