The world of nautical leasing is continually growing and evolving. We talked about it with Maurizio Giglioli, CEO of Credemleasing and a board member at Assilea– the Italian Leasing Association
by Massimo Longoni
THREE BILLION EUROS WORTH OF YACHT LEASING CONTRACTS WERE SIGNED IN 2008,but that figure had fallen to around twenty per cent in 2018. We talked about it with the CEO of Credemleasing Maurizio Giglioli.
The yachting sector is growing. Is that a consolidated trend, or an exception to the general economic outlook? Internationally, the yachting sector is definitely growing strongly. According to data from the Boating Market Monitor 2019 put together by researchers at Deloitte in 2018, the worldwide yachting market grew around seven per cent in the year to 22 billion euros. In Italy too, 2018 produced positive results with production of new vessels worth 2.5 billion euros (an 11% increase on 2017). The yachting sector in Italy is characterised by significant specialisation in the large yacht sector. Italy is the world leader in that sector, and in 2018 registered 46% of superyacht orders. The figures show that there is faith in the future of yachting, with the fourth consecutive year of growth. We can thus confirm that it is a trend that is increasingly consolidating.
How is yacht leasing faring in Italy?
2018 was another favourable year for leasing in the yachting sector, in the first five months of 2019, however, there has been a 4% decrease both in the number of contracts and in their total financial value. Credemleasing is bucking the trend, with a nine per cent increase in the number of contracts, and a forty per cent increase in financial value, which consolidates our leadership in the market.
Since you are specialists in yachting leasing, is there anything unusual about you that we should stress?
Our approach is to see leasing as a service rather than a financial product. We follow clients from their choice of their boat, through planning to the final purchase. We are absolutely convinced that only by having in-depth discussions with clients and the professionals that work with them is it possible to fully understand goals and requirements, to make the purchase of a boat a really unique and memorable occasion. Credemleasing hasn’t ever stopped signing leasing contracts, even when the market was going through its most difficult times, with an approach that sometimes goes against the general trend. The Credem Group can boast a broad client base amongst affluent individuals and in the private banking world. That segment, which has generally been less affected by the economic crisis, has been the source of a consistent level of requests for financial assistance, which as well as being for projects linked to company business, is also for private purchases, such as those involving both real estate and yachting.
How do you organise your yachting leasing group?
We have a team of professionals who are ready to provide all-round consultancy. We are able to lead and accompany the client in every choice they make, from the legal area right up to purely administrative issues. Our real strength lies in our people, who help clients find the right path. Various different technical, fiscal, administrative, legal and financial skills are required to execute a yachting project: at Credemleasing we have a team of professionals who are ready to help clients in whatever they decide to do. They are people who are able to provide assistance and manage relationships with owners, boatyards – both in Italy and abroad – and with designers. They are a team that understands how to keep abreast of client needs throughout the leasing contract. All of these things have meant that we have been able to grow our skill base year after year. We hold passion and responsibility to be our key values, and these are principles that really fit in with people who live and experience the sea.
Can you give a general picture of leasing in Italy in all sectors over the past few months?
Figures provided by Assilea – the Italian Leasing Association – show that the significant growth in the market of operating leasing has continued, but after five years of growth, in May there was a fall in financial leasing contracts signed, which meant that volumes were ten per cent down on the first five months of last year. And our results are bucking the trend in this too: Credemleasing ended May with a 14% increase in deal numbers, and an 18% increase in total contracted volume. We can consider ourselves very satisfied with this outcome, which has come from team work from the groups that we have working in each individual business area.
Gruppo Credito Emiliano
Credito Emiliano – Credem – has its roots in Reggio Emilia. It is the private bank of the Maramotti family, also known for the luxury brand Max Mara. The bank is deeply rooted in its territory, with more than 600 branches spread all over Italy. Credemleasing operates within this group as a company specialized in the financial lease of real estate, capital goods, vehicles, and boats.
(Credemleasing, growth and evolution – Barchemagazine.com – Luglio 2019)