CHG-MERIDIAN AG: CHG-MERIDIAN does more business abroad than in Germany for the first time
(firmenpresse) - (DGAP-Media / 02.05.2013 / 15:00)
- Euro-zone debt crisis curbs lease originations in Germany in first
quarter
- Steady growth in lease originations abroad offsets decline in German
market
- Mossakowski says reluctance to invest is extremely risky for companies.
Weingarten, May 02, 2013
For the first time in its history, technology manager CHG-MERIDIAN based in
Weingarten, south-west Germany, has originated more leases abroad than in
its home market. Of the new leases totaling EUR191 million that were signed
in the first quarter of 2013 (Q1 2012: EUR195 million), EUR103 million were
originated in the company's 18 international markets.
The North American market, which accounted for over 60 percent of the
growth in new business, emerged as the powerhouse. 'Lease originations were
down by 2.5 percent across the Group in the first quarter, but the fall was
kept to a minimum by steady growth in our international business,' said
Jürgen Mossakowski, chairman of CHG-MERIDIAN AG's management board. 'By
contrast, Germany was down by 10 percent on the prior-year quarter and
initial industry trends in Germany indicate that new business was very
modest overall. However, it is still too early to draw any conclusions for
the remainder of the year.'
Reluctance to invest is risky
This trend was also evident in the remarketing of used technology
equipment, with the company registering a slight fall from 96,000 assets in
the first quarter of 2012 to 81,000 in the same period this year. However,
the secure data erasure service put in an encouraging performance as more
customers opted for TÜV-certified data erasure of their used equipment.
Some 19,000 technology assets were erased in the first quarter of 2013
compared with 16,000 in the first quarter of 2012.
According to Mossakowski, the euro-zone sovereign debt crisis and the
resultant reluctance to invest was also reflected in an unwillingness to
replace IT equipment and other high-value technical equipment. Over the
long term however, the chairman of the management board said that this
might prove to be the wrong strategy: 'Companies that focus on the latest
technology have a competitive advantage. Foregoing it is extremely risky,
particularly in an economic slowdown.'
Successful internationalization strategy
CHG-MERIDIAN's quarterly results underscore the fact that it is on the
right track with the strategy of international growth that it has pushed
ahead with since the turn of the millennium. In 2012, it included the full
integration of its joint venture in Mexico into the Group. Just a few weeks
ago, CHG-MERIDIAN also succeeded in obtaining a license for its finance
company in Brazil, South America's biggest and fastest growing market. As
well as its international strategy, the company also focuses on end-to-end
technology management that provides customers with customized business
concepts and technology and service solutions throughout the entire
equipment lifecycle. CHG-MERIDIAN has a workforce of over 700 spread around
the world.
New IT trend continues
CHG-MERIDIAN has also noticed that the IT sector is changing. Market
studies show that the PC market collapsed once more at the beginning of the
year. Instead of PCs, customers are increasingly ordering tablets which are
lighter, more flexible and also cheaper. 'Although this is a technological
advance,' said Jürgen Mossakowski, 'the total amount per asset and
therefore per contract is falling.' This trend is set to continue, as is
the need for large data centers to cope with the flood of data. By the end
of 2013, industry information services predict that some 150 million tablet
PCs worth US$ 64 billion will be in use. By comparison, traditional PCs are
forecast to decline by between 11.2 and 13.9 percent.
Further information can be found at:
www.chg-meridian.com
About CHG-MERIDIAN
Large and medium-sized companies and public-sector entities in 19 countries
worldwide have entrusted CHG-MERIDIAN with their advisory, financing, and
other service needs in the field of technology portfolio management. With a
total workforce of more than 700 people - most of them employed at six
locations in Germany - the company, which is headquartered in Weingarten in
south-west Germany, has leased assets worth approximately EUR2.5 billion
under management. What distinguishes CHG-MERIDIAN is its non-captive status
with respect to banks and manufacturers, enabling it to provide expert
independent advice and financing solutions for technology portfolio
management throughout the entire lifecycle.
Contact:
Matthias Steybe
Head of Communications und Marketing
CHG-MERIDIAN AG
Franz-Beer-Straße 111
D-88250 Weingarten
Tel. +49 751 503-248
Fax. +49 751 503-7248
Email. matthias.steybe(at)chg-meridian.de
End of Media Release
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Issuer: CHG-MERIDIAN AG
Key word(s): Finance
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