2015 was another year of fluctuating fortunes for the asset finance markets in the Nordic countries and Baltic States.

Concerns over economic factors, national and global, will always have a dampening effect on companies’ capital investment intentions, and this is most obvious in the decline in equipment leasing and long-term rental new business volume (NBV) in Norway where the downward pressure on oil prices caused by the global decrease in demand for commodities and energy has been particularly acutely felt.

In Sweden leasing NBV was static in 2015, although this may at least mark the end of a recent downward trend and Sweden remains by some distance the region’s largest market. However, there was impressive new business growth in Denmark and, more surprisingly, the signs are looking positive in Finland.

Nordic countries, leasing NBV (€ million)

nordic countries leasing

Source: National Associations, Leaseurope.  Note: * Finland total is estimated, based on H1 2015 total of €1,914m

It should be noted that the national associations in Finland and Sweden are estimated to represent around 80% of their respective leasing markets, as compared with some 90% for the equivalent bodies in Denmark and Norway, so total business volumes can be expected to be proportionately somewhat larger in the former markets – although growth rates and trends should be assumed to be unchanged.