Nautical leasing is a crucial means for the development of the industry as well as an important indicator of the yacht market trend in Italy. We talked about it with Maurizio Giglioli, CEO of Credem Leasing and vice president of Assilea, the Italian Leasing Association
by Francesco Michienzi
Nautical leasing had been strongly reduced on the market in recent years and very few operators were financing the purchase of a boat. But today something has changed, and Credem in particular is placing itself with determination on the market to assist clients in the purchase of their yacht. Why is that?
Well, the historical bond that ties the world of leasing to the nautical industry has definitely felt the effects of the recent economic crisis, which has placed many clients in dire straights concerning the payment of leasing contracts they had signed previously. Credem Leasing never stopped stipulating leasing contracts, even when things were at their worst in the market, and at times went against the grain. The Credem Group can boast a large clientele in private and affluent banking. And it is precisely in these segments, which are generally less impacted by the crisis, where we have witnessed a consistent request for financial support recently, for projects related to business activities, but more and more also for private purchases either in real estate or the nautical market.
How large is the segment of financing in the market of nautical leasing today?
The year 2017 was able to confirm the market recovery; a market which in 2016 had reached +1.85% in nautical contracts, with a growth of +59.30% over the previous year, taking the value of financed products to 522 million Euro. This has been a true sea-change compared to the previous years, which had shown very negative signs.
What percentage do you hold in this field?
In the nautical sector, Credemleasing went from a value of operations of 11 million Euros in 2013 to 98 million Euros in 2017, with a growth percentage of about 89%. In the end of 2017, Credemleasing’s market share was 18.70%, thus confirming our company’s position at the top of Assilea’s ranking.
Were you often stranded in the nautical sector in these years?
Our group has always worked hard to ensure the quality of the Credit and consequently we work with a very high-quality clientele. This has also allowed us to significantly limit the various issues that can arise in nautical leasing.
How do you think we should interpret these signs of recovery?
Are they real and reliable? In the periodical meetings we have with the shipyards we have found a new optimism, which is also motivated by Italy’s record in exporting inboard recreational crafts. According to the data, there is a slight sign of recovery which is yielding the way to a regained vitality in the nautical market, in particular in pleasure boating.
What are your strengths and what allows you to be so different in the market?
Our philosophy is conceiving leasing as a service and not as a financial product. Our company assists clients from the moment they choose a boat, to the design process, and all the way to the final purchase. We are strongly convinced that only by truly interacting with the client and with the professionals who assist him, can we understand his goals and needs and make the purchase of his boat truly unique and memorable. To execute a nautical project you need technical assessments, but also tax assessments, administration, legal, and financial assessments, and this is the context in which Credemleasing’s Nautical Team was created. It is a team composed by specialized professionals who are capable of assisting and managing the relationship with shipowners, Italian and international shipyards, and, in the case of boats under construction, with designers. A team that knows how to interpret the client’s needs throughout the entire duration of the leasing process. All these aspects have allowed us to increase our competences and we have now succeeded in becoming leaders of the industry. Passion and responsibility are the strongholds of the Credem brand – a perfect match for the values of seafarers.
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.
(Maurizio Giglioli, the nautical leasing is on the right course … – Settembre 2018)