LEASING COMPANY “LEASINGFINANCE”
1
LEASING COMPANY “LEASINGFINANCE”
THE COMPANY DESCRIPTION
The name
Creation date
Work date started
The share capital (at the moment of formation)
Leasing company "LEASINGFINANCE"
10.2007
09.2008
420 000 US dollars
Shareholders
Attivita Holding Ltd (Cyprus) – 98,56 %
Physical persons – 1,44 %
Management - Financial Company "GRANDINVEST"
Management
Company’s tasks:
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
Company
"LEASINGFINANCE"
adjusts steady partner relations with many
official dealers of cars and special equipment,
suppliers of the equipment for different
industries. It allows us to offer clients the
whole complex of services in search and
selection of subjects of the leasing which is
meeting the requirements of the client on
functionality and, at the same time,
representing optimal variant from the point of
view of the price and terms of delivery.
Expansion of a spectrum of the offered
services connected with preparation
and realization of leasing projects;
Territorial
diversification
leasing
projects;
Increase in volumes of operations of
financial/operating leasing;
Growth of actives of the company;
Increase of competitiveness and appeal
of the products offered by the company
in the market;
Strengthening of positions of the
company as reliable and competent
partner in the regional financial market.
We provide insurance of leasing
property in the most reliable insurance
companies possessing a wide range of
branches in Ukraine, and we incur all work
with insurers. Clients need to choose the most
optimum variant of the leasing offer only.
For an operating time the company saves up the rich practical experience allowing
successfully realize leasing projects in the most different branches of economy of Ukraine.
Further we can to develop advantages available for us and to improve the work, and also are
ready to offer our clients new interesting programs.
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LEASING COMPANY “LEASINGFINANCE”
MISSION AND
STRATEGY
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LEASING COMPANY “LEASINGFINANCE”
Now the grocery offer of leasing business
develops in several directions:
Small business:
The wide spectrum of the accessible standardized products
of retail leasing is developed for the small-scale business
enterprises («Express leasing of automobile and
commercial cars», «Leasing of equipments », «Leasing of
the building equipments») with high speed of decisionmaking and minimal requirements to client.
Products of retail leasing assume presence of the
standardized parameters and requirements to client,
financing within the limits of strictly established limits
without passage of credit committees.
Average business:
Complex decisions are developed for average business on
a turn-key basis on the basis of products of retail leasing.
Within the limits of products of retail leasing further it is
planned to organize granting of a full spectrum of the most
demanded additional services.
Large business:
Complex branch decisions are developed for corporate
clients with individual adjustment. Presence of individual
options allows to consider as much as possible
requirements of clients and to offer them modern and
innovative leasing decisions. Within the limits of
corporate leasing financing of acquisition of the
equipment, cargo cars including with use of technology of
the international leasing is carried out.
PARTNERS
Development of mutual relations with
manufacturers and suppliers of subjects of leasing,
dealers, the insurance companies is one of key
directions of development of the company.
Leasing company "LEASINGFINANCE" plans to
increase quantity of joint programs with
manufacturers of subjects of leasing for their key
clients and offers complex decisions on financing
for suppliers and their dealers.
The basic directions of development of mutual
■ increase in quantity of joint programs with
manufacturers of subjects of leasing for their key
clients;
■ formation of complex decisions on financing for
suppliers and their dealers;
■ placing of employees of the Leasing company in
territory of vendors;
■ increase in quantity of agreements with vendors
regional level;
■ formation of joint ventures with manufacturers.
Cooperation with partners will allow Leasing
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LEASING COMPANY “LEASINGFINANCE”
relations with partners:
company "LEASINGFINANCE" to increase a
sales volume of leasing products, that considerably
raises competitiveness of the company and reduces
cost of leasing services for clients.
EXTERNAL BORROWING
Leasing company "LEASINGFINANCE" plans to
act in the Ukrainian and international markets of
the capital as the independent borrower.
Within the limits of the organization of attraction
of financing by the company it is planned to use
such tools, as the direct credits, the syndicated
credits, bonded loans, CLN, trading financing.
For increase of the investment appeal Leasing
company "LEASINGFINANCE" supervises
sufficiency of own capital and other financial
indicators.
Strategy in the field of external attraction is
directed on increase in average terms of attraction,
depreciation and диверсификацию sources
(including increase in a share of trading financing).
REGIONAL STRATEGY
Corporate governance
Regional strategy of Leasing company
"LEASINGFINANCE" is directed on formation of
a network of branches in all regions of Ukraine.
For maintenance stable and efficient control in
Leasing company "LEASINGFINANCE" the
considerable attention is given to formation of
system of a corporate governance, perfection of
corporate procedures and internal standard base,
formation of system of the analysis and
management of risks.
The board of directors, system of committees and
Board allow to carry out a corporate governance
according to the advanced international standards.
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LEASING COMPANY “LEASINGFINANCE”
For maintenance
stable and efficient
control in Leasing
company
"LEASINGFINANC
E" the considerable
attention is given to
formation of system
of a corporate
management,
perfection of the
corporate
Procedures and
internal standard
base, to formation of
system of the analysis
and management of
risks.
Board of directors FC
"GRAND INVEST", system of
committees allow to
carry out a corporate
management
according to the
advanced
international
standards.
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LEASING COMPANY “LEASINGFINANCE”
The
Ukrainian
market of
leasing and
positioning
The leasing
company
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LEASING COMPANY “LEASINGFINANCE”
On many indicators growth of the Ukrainian market of leasing is an excellent example of potential of the
developing European countries in the field of adaptation of various schemes of financing of operations on
acquisitions of a fixed capital.
Growth of a leasing portfolio proceeds, though has considerably slowed down the rates. This year (2009)
Ukrainian leasing portfolio has grown on 41 % - an amazing indicator for a current situation, but not so
amazing in comparison with 485 % growth of the market from the end of 2006 year till the end of 2007.
Regarded as one of the basic Central European leasing markets at level with the leasing markets of
Slovakia, the Czech Republic and Hungary which were considerably narrowed in 2008, the Ukrainian
market of leasing has continued growth and during general global recession, partially thanks to the big
share of leasing business serving proof agricultural sector.
But in some cases, growth was possible only thanks to wonderful growth in 2007 which has caused
activity of the market all next years. Activity of the market for last years was so low, that business at all
did not consider leasing as a financing variant, preferring to solve questions of financing at the expense of
bank credits, are spoken by analysts.
Progress of 2007 also has created for the leasing companies a necessary infrastructure for financing
attraction at level which has allowed the leasing companies to adapt for more severe credit conditions. For
last year lessors have financed at the expense of own means about a quarter of all transactions in
comparison with 10 % in 2007.
Besides falling of rates of growth, pressure of recession has affected Ukraine and in other directions. The
economic instability supported by the political disorder, has increased for lessors price risks about leasing
that has caused reduction of average terms of the leasing transaction. Also, the financing average index
has fallen to 45 % from a total cost of a subject of leasing.
The proportion of making leasing payments also has considerably changed for a year, having increased a
share of the commissions lessor`s, indemnifications for risk and percentage payments to 30 % from the
general leasing payment, in comparison with 20 % year before.
According to the terms defining business environment, dominating players in the Ukrainian market are
large foreign bank networks led by the Unicredit Leasing and Raiffeisen Leasing, taking the second and
third place on volume of a leasing portfolio and volume of the conclusion of new leasing contracts
accordingly. Heads the table about ranks the Russian colossus – VTB Leasing exceeding three times
indicators of volume of leasing portfolio of the nearest competitor.
Leasing in Ukraine – the key statistics.
Details
Changes in 2009
29 from 208 which represent 80 Growth in comparison with 7
Quantity of the companies
% of the leasing market
companies in 4 quarter 2007
Cars, the agricultural technician,
Falling in the field of cars leasing,
the building equipment, the
growth in the agricultural technician
In the lead actives
computer
equipments,
the
and the building equipment
polygraphic equipment
Growth of 5 % in comparison with 9
Q-ty the signed contracts of
9 766
275 last year
leasing
Falling on 41 % in comparison with
0,95 billion Euro
Cost of new contracts
1,16 billion Euro last year
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LEASING COMPANY “LEASINGFINANCE”
Growth of 41 % in comparison with
1,93 billion Euro last year
Growth of 16,4 % in comparison with
17 568
Operating contracts
15 102 last year
Falling on 45 % in comparison with
Average volume of the
95 000 Euros
175 000 Euros last year
contract
Repayment of cost of a subject Repayment of cost of a subject of
Average component of leasing
of leasing – 68,78 %, the leasing leasing – 78,3 %, the leasing
payments
commissions – 24,32 %
commissions – 19,5 %
47 % - bank credits, 22 % - own
29 % - bank credits, 11 % - means of
Sources of financing of the
capital, 7 % - means of legal
legal bodies
leasing companies
bodies
Total cost of contracts
2,7 billion Euro
Rating of the Ukrainian leasing companies on volume of a leasing portfolio
Position in a rating
The company name
Portfolio on 31.12.08 (million Euro)
1
VTB Leasing Ukraine
546
2
Raiffeisen Leasing Ukraine
179
3
UniCredit Leasing
156
4
Hypo Alpe-Adria Group
68
5
ING Leasing Ukraine
59
6
Euro Leasing
55
7
Lasca Leasing
49
8
SG Equipment Leasing Ukraine
46
9
ALD Automotive (the First leasing company)
41
10
VAB Leasing
40
Rating of the Ukrainian leasing companies on volume of the concluded new transactions
Position in a
rating
1
2
3
4
5
6
7
8
9
10
The company name
VTB Leasing Ukraine
UniCredit Leasing
Raiffeisen Leasing Ukraine
ING Leasing Ukraine
SG Equipment Leasing Ukraine
Hypo Alpe-Adria Group
VAB Leasing
Euro Leasing
Lasca Leasing
ALD Automotive (the First leasing
company)
New transactions in 2008 г (million
Euro)
229
121
99
71
62
51
44
30
29
29
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LEASING COMPANY “LEASINGFINANCE”
DYNAMICS OF SALES OF LEASING COMPANY "LEASINGFINANCE"
IN SUBJECTS OF LEASING 2008-2009.
Dynamics of sales.
YEAR
Quantity of contracts
2008
2009
5
25
Cost of contracts (thousand
USD.)
114,3
474,3
LEASING PORTFOLIO IN LEASING SUBJECTS
Contract
cost
(thousand
USD.)
%
The special
technics
69,4
9,1
Cars
Cargo cars
Buses
TOTAL
137,2
Commercial
cars
161,3
184,1
36,4
588,6
30,5
25,0
27,4
8,1
100
Strategy leasing company of AUTOMOBILE LEASING
In the market of leasing of automobile Leasing company "LEASINGFINANCE" plans to offer
products of retail leasing («Express leasing of automobile and commercial cars»), products of
corporate leasing on acquisition of vehicles, a product of "Financing of dealers of equipment» for
official dealers of manufacturers of cars.
Key initiatives:
■ conclusion of cooperation agreements with leading car manufacturers and working out of
joint programs;
■ introduction of system of granting of additional services within the limits of corporate and
retail products (statement on the account, insurance, maintenance service and so forth);
■ realization of transactions on leasing of cars with application of technology of the
international leasing;
■ realization of complex programs on financing of suppliers and dealers (inventory finance +
leasing);
■ placing of employees of Leasing company "LEASINGFINANCE" in points of sales of
dealers.
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LEASING COMPANY “LEASINGFINANCE”
The number of clients
of Leasing company
"LEASINGFINANCE
" continuously grows.
Growth of number of
clients is caused first
of all by sales volume
growth in 2009-2010
y. of a retail product
«Express leasing of
automobile and
commercial cars»
through a regional
network of the
company
By strategy of Leasing
company
"LEASINGFINANCE
" it is provided
diversification
client`s base at the
expense of increase in
a share of sales of the
leasing products
focused on the
enterprises of small
and average business,
through a filial
network.
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LEASING COMPANY “LEASINGFINANCE”
Strategic targets:
■ Increase in a share of the market by
2014 to
■ Quantity of branches of Leasing
company "LEASINGFINANCE"
■ Leasing portfolio
DEVELOPMENT PROSPECTS
Prospects of development of the leasing
company are connected with potential of growth of
economy. Company strategic targets are position
strengthening in the leasing market of Ukraine and
the further increase in a leasing portfolio.
Leasing Company "LEASINGFINANCE"
plans to develop work with the enterprises of small
and average business and to expand a spectrum of
directions of leasing activity.
15%
20
120 mln. USD.
With a view of increase of appeal of
leasing of motor transport the separate leasing
product «Express leasing of automobile and
commercial cars» has been developed.
The given product allows to give a full spectrum of
services in the market of leasing automobile and
commercial cars, and also minibuses.
The method of work of the company is a complex
approach to the leasing transaction:
- The help in a car choice;
- Insurance;
- Statement on the account in motor licensing and
inspection department bodies;
- Car service at station;
- Seasonal replacement and rubber storage.
For today there are some programs on leasing of
cars
– The preliminary decision on the transaction
conclusion is accepted within 1 hour, car payment
is made in day of reception of advance payment;
– Work with guarantors;
– Possibility of scheduling of leasing payments
taking into account seasonal prevalence of activity
lessee;
– Financing of projects and again created
companies;
– Insurance, registration in motor licensing and
inspection department;
VENDOR`S - PROGRAMS
Within the limits of realization of the strategy
directed on development of mutual relations with
partners-vendor`s, the Leasing company in 20082009 had been concluded a number of agreements
with such car manufacturers, as: GENERAL
MOTORS (SAAB, OPEL, CHEVROLET,
CADILLAC, HUMMER), LAND ROVER and
JAGUAR, MERCEDES-BENZ, BMW.
In immediate prospects the leasing
company intending spare special attention to
following directions of the work:
 Increase in quantity and the size of
leasing transactions;
 Increase in efficiency of the
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LEASING COMPANY “LEASINGFINANCE”
conclusion of leasing transactions;
 Expansion of assortment of given
services.
For the decision of tasks in view the
company plans to involve the extensive contacts to
suppliers of various kinds of the equipment and
transport and faultless reputation for maintenance
of as much as possible favourable conditions of
financing for the clients.
Financial strategy of the company the next
years is realized with application of management
methods by liquidity, managements of risks,
диверсификации
investment
directions,
optimization of structure of a leasing portfolio,
expansion of stable sources of the income and
high-grade protection of interests of founders and
investors.
CLIENT BASE
The personnel-one from the major competitive
advantages of Leasing company
"LEASINGFINANCE", therefore in the company
is paid the big attention to development of the
personnel and formation of corporate culture.
Formation of the uniform corporate culture
stimulating an all-around development of
employees and promoting achievement of strategic
targets of Leasing company
"LEASINGFINANCE", is based on following
initiatives:
Personnel selection.
The policy in the field of management of the
personnel is directed on granting to each employee
of possibilities for full disclosing of skills,
knowledge and talents and urged to provide
stability of the company as the business
organizations.
Motivation.
The motivational program of Leasing company
"LEASINGFINANCE" is constructed on a
combination corporate and the individual purposes
and urged to form culture of awarding by result. In
the company non-material methods of motivation
are widely used, competitions on a rank of the best
head of branch, the best seller of products of retail
leasing are monthly held.
Development.
Leasing company "LEASINGFINANCE" actively
uses both remote, and internal forms of training of
employees. In the company training programs on
products of retail and corporate leasing, risk-
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LEASING COMPANY “LEASINGFINANCE”
management are specially developed. The special
attention is given to formation professional
competition in the field of sales of leasing products
and to formation of administrative skills.
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LEASING COMPANY “LEASINGFINANCE”
CAPITAL BORROWING
One of priority problems of Leasing
company "LEASINGFINANCE" is
realization of the scale program of loans
for financing of new leasing transactions.
It is planned to use such financial tools, as
the direct loans, the syndicated credits,
release CLN (credit notes) and securities.
Key initiatives:
Performance of the plan of external
borrowing for the account:
■ organizations of accomodation on an
open bond market, CLN, Eurobonds (under
condition of a good situation in the
market);
■ borrowing of the syndicated credits,
including address financing;
■ borrowing of the connected financing
from foreign banks, including through
credit agencies;
■ borrowing of credits from the Ukrainian
banks;
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LEASING COMPANY “LEASINGFINANCE”
RISKMANAGE
MENT
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LEASING COMPANY “LEASINGFINANCE”
MANAGEMENT OF CREDIT RISK
The control system of credit risks of Leasing
company "LEASINGFINANCE" includes two
levels:
The first level - planning and methodology level management of risks by working out of a credit
policy, a regulation of the business processes
connected with granting of leasing products with
credit risk, workings out of techniques of an
estimation of credit risks on corporate both retail
leasing products and the further control of their
realization and execution.
The second level – at decision-making level on
separate leasing products with credit risk, within
the limits of work of System of decision-making on
leasing products which includes system of credit
committees FC "GRAND - INVEST", in that
number credit committee of Leasing company
"LEASINGFINANCE", system of personal powers
of managers on decision-making and system of
delegation to managers of individual powers on
decision-making on retail leasing products.
The control of credit, financial and not financial
risks is a key problem of Leasing company
"LEASINGFINANCE"
THE CREDIT POLICY
The credit policy of the company for 2009-2014 is
focused on creation and maintenance liquid and
diversification the leasing portfolio providing
profitableness of leasing operations, adequate to
level of accepted credit risk, for the purpose of
achievement of planned targets of cost, volumes
and efficiency of the company.
For the decision of problems of management
liquidity of a leasing portfolio and it
диверсификации, a credit policy establishes target
indicators of a leasing portfolio, including limits on
the maximum sizes of credit risk, restriction on
conditions of granting of products and their
concentration.
Also in the document the list obligatory for an
estimation and the analysis of the credit and design
risks arising at realization of leasing projects is
given, and recommended values on the size of own
participation by the client in acquisition of a
subject of leasing, depending on an estimation of
its market cost and liquidity are resulted.
Within the limits of the Credit policy segmentation
of clients depending on volume indicators on small,
CORPORATE LEASING
The estimation of credit risks within the limits of
realization of marketing strategy «Corporate
leasing» is carried out with use методологий,
developed with the assistance of the international
consulting company and adapted taking into
account the best world practice and
recommendations of Basel committee (including
Basel II).
The decision on granting of products within the
limits of strategy of "Corporate leasing» is accepted
by joint body. The size of the brave price depends
on quality of a financial condition of the client,
liquidity of a subject of leasing, the size of a share
of participation of the client in the project, presence
of additional maintenance under the leasing project.
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LEASING COMPANY “LEASINGFINANCE”
average and large business is spent and taking into
account an available grocery ruler two marketing
strategy are realized:
■ strategy «Corporate leasing» for large and
average business;
■ strategy «Retail leasing» for small and average
business.
RETAIL LEASING
The estimation of credit risks within the limits of
realization of marketing strategy «Retail leasing» is
based on scoring model adapted under features of
each group of retail products («Express leasing of
automobile and commercial cars»).
The technology of authorization of granting of
products within the limits of strategy «Retail
leasing» provides decision-making on financing on
the simplified procedure.
Within the limits of positions about a product
restrictions on the maximum size of credit risk on
the client and to financing term are established.
MONITORING OF THE SUBJECT OF
LEASING
The recommended values fixed by a credit policy
on the size of own participation in acquisition of a
subject of leasing depending on an estimation of its
market cost and liquidity are directed by the client
on formation of a leasing portfolio with sufficient
maintenance.
Necessary requirements to a leasing subject are:
The liquidity requirement.
The property considered as a subject of leasing,
without fail should possess liquidity (i.e. liquidity
of offered property should not be hopeless) under
condition of its preservation in that quality in
which it is considered for the leasing transaction.
Possibility of a cost estimation.
The property considered as a subject of leasing,
should be subject to cost estimation under
condition of its preservation in that quality in
which it is considered for the leasing transaction.
.
Realization possibility.
The property considered as a subject of leasing,
should be turned in the market, i.e. is not
withdrawn from a turn and not limited in a turn,
under condition of its preservation in that quality in
which it is considered for the leasing transaction.
Alienation possibility.
The property considered as a subject of leasing,
without fail should be alienated under condition of
its preservation in that quality in which it is
considered for the leasing transaction
Appropriate registration.
The property considered as a subject of leasing,
should be properly
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LEASING COMPANY “LEASINGFINANCE”
It is issued, i.e. the company should have an order
right offered property under condition of
preservation of its (property) in that quality in
which it is considered for the leasing transaction.
In the company the following procedure of
monitoring of a condition of subjects of leasing and
additional maintenance under leasing transactions
operates:
Monitoring of a condition of objects of leasing and
the additional maintenance issued at realization of
the leasing transaction, can be carried out:
■ the employee of the company;
■ the employee of division of an estimation and
work with corporation pledges;
■ the accredited insurance company;
Check of a condition of subjects of leasing and
additional maintenance is carried out not less often
than 1 time a year.
Responsibility for realization of actions for
monitoring of a condition of objects of leasing and
the additional pledge issued at realization of the
leasing transaction, is assigned to the manager of
the company.
MANAGEMENT OF RESERVES
The order of creation of reserves under depreciation of
actives in Leasing company "LEASINGFINANCE" is
realized according to recommendations of auditor
company Ernst and Young.
The reserve under depreciation of actives is subtracted
from balance cost of corresponding actives.
For calculation of the sum of a reserve the following
technique is used:
■ the reservation rate as the relation of problem
debts to a total sum of payments (a leasing
portfolio) Is defined. The problem debts
consider debts The client on leasing payments
over 30 days. The reserve rate pays off in a cut
of the integrated fields of activity
лизингополучателей.
■ the reserve Sum pays off as product of the
sum of pure investments in leasing and
reservation rates.
■ In case of regular delays under the contract
of leasing and presence of the delayed debts
over 60 days the active is classified as problem.
Reserve formation under the problem
Actives pays off starting with 100 % of the sum
of pure investments in leasing.
Besides, in the company in addition internal
design procedure of reserves for the
administrative account (on the basis of the
brave prices) is realized.
As a whole the leasing portfolio is generated
for the account liquid assets of property, such
as automobile and cargo transport, the building
equipment.
The company pursues a policy of obligatory
insurance of all subjects of leasing upon
property risks.
Practice of the conclusion with
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LEASING COMPANY “LEASINGFINANCE”
suppliers/manufacturers of contracts remarketing and the return repayment is actively
used.
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LEASING COMPANY “LEASINGFINANCE”
MANAGEMENT OF FINANCIAL RISK
Leasing company "LEASINGFINANCE"
has the accurate strategy directed on the
maximum lengthening and reduction in price
of extra means.
RISK OF LIQUIDITY
The important problem in the field of management
of liquidity is alignment of structure of actives and
passives on promptness. Leasing company
"LEASINGFINANCE" has the accurate strategy
directed on the maximum lengthening and
reduction in price of extra means. Thus the greatest
attention is given to structuring of loans under
concrete leasing contracts or pools of contracts.
Ability to service of a debt of Leasing company
"LEASINGFINANCE" is balanced by that receipts
of leasing payments always advance payments on
debt service.
The established internal limit on cumulative GAP
assumes the general size дисбаланса actives and
passives with within 1 year at level no more than
30 % from volume of operational passives, with
more rigid restriction of rupture on short terms.
Observance of limits on liquidity rupture is carried
out through change of structure of passives, and
also placing of money resources in various
financial tools.
MARKET RISKS
The main principle of Leasing company
"LEASINGFINANCE" in the field of management
of currency and percentage risk consists in risk
carrying over on the client (lessee). Thus
management of currency and percentage risk of the
company and the control of their level are carried
out at two stages:
1 stage.
At a stage of opening of leasing transactions for the
account:
■ financings of transactions in bank-counterpart on
mirror conditions;
■ uses by divisions of sales at structuring of
schedules of leasing payments of uniform base
rates фондирования leasing transactions,
obligatory for all divisions
Sales of the leasing company;
■ uses in the contracts of leasing financed at the
expense of credits with the floating rate, an option
obliging лизингополучателей to make out by
additional agreements to contracts of leasing
revision of a total sum of the contract and size of
leasing payments according to change of rate
Libor/Euribor concerning the rate for date of
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LEASING COMPANY “LEASINGFINANCE”
signing of the contract.
2 stage.
At a stage of the quarterly analysis of reports on
structure of balance and dynamics of rates
Libor/Euribor, by which results in case of presence
of imbalance of actives and passives decisions on
change of structure of actives and passives (through
change of target reference points on external loans,
through the statement of limits on operation in this
or that currency, through change of uniform rates
financing of leasing operations) are made.
Matrix of management of risks of Leasing
company "LEASINGFINANCE"
■ types of risks
■ the components of risks which are subject to
regulation
■ management tools
CREDIT RISK
Risk of occurrence of non-payments from
clients.
Quality of actives-minimization of the losses
connected with deterioration of a financial
condition of the client.
■ System of authorization of credit decisions
■ the Credit policy
■ reservation System (on the basis of an estimation
of credit risks)
■ Methods of an estimation and forecasting of
credit risk
Risk of loss or damage of subjects of leasing.
Minimization of the losses connected with loss and
damage of property
Risk of depreciation and decrease in liquidity of
a subject of leasing
Minimization of the losses connected with possible
realization of a subject of leasing
■ Monitoring of a current condition of a subject of
leasing
■ Insurance of a subject of leasing
■ Estimation and the forecast of change of market
cost and liquidity of a subject of leasing
■ Conclusion of contracts of the return repayment
and re-marketing with suppliers/manufacturers
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LEASING COMPANY “LEASINGFINANCE”
FINANCIAL RISK
Currency risk
Sensitivity of actives and passives to change of
rates of exchange
■ Control of currency risk
■ financing borrowings in currency of contracts of
leasing
Risk of liquidity
Structure of actives and passives on promptness
■ Monitoring of a daily payment position on the
basis of Cash-plan
■ Control of intermediate term and long-term
liquidity on the basis of GAP-report
■ Financing of transactions in bank-counterpart on
"mirror" conditions (an emphasis on trade export
finance)
Risk of residual cost
Minimization of the losses connected with the
accounting and tax account
■ Control of calculation of schedules of leasing
payments at a stage of the conclusion of the
contract of leasing
Percentage risk
Sensitivity of actives and passives to change of
interest rates
■ Control of observance of a percentage policy on
active operations at an input stage in the transaction
■ Financing of transactions in bank-counterpart on
"mirror" conditions (an emphasis on trade export
finance)
■ Variable sums of contracts of leasing in case of
financing under the floating rate
■ Regular analysis of dynamics of rates
Libor/Euribor
■ Hedging
NON FINANCIAL RISK
Operational risk
Conformity of methods of a corporate governance
to business scales
■ Regulated business processes and system of duty
regulations
■ System of granting of powers
■ Control of operations by division of operational
support
■ Monitoring system of costs service of budgetary
controllers
■ translation System
Strategic risk
23
LEASING COMPANY “LEASINGFINANCE”
Conformity of offered leasing products and
services to expectations and requirements
the market
Achievement KPI of business
■ Working out of the operative (annual) business
plan and the strategic plan for development
■ System KPI
24
LEASING COMPANY “LEASINGFINANCE”
THE ANALYSIS OF
RESULTS OF
ACTIVITY.
The intermediate
reporting on
31.12.2009
25
LEASING COMPANY “LEASINGFINANCE”
Assets
Noncurrent
Intangible assets
Intangible assets - cost
Intangible assets - accumulated depreciation
(0,1)
Loans granted
Property and
equipment
Loans granted
(0,0)
(0,1)
-
10,2
-
(9,6)
(5,1)
1,2
Construction in progress
13,8
-
-
-
-
-
Prepayments for CIP
32,3
1,6
101,4
Receivables from finance lease - NIL (noncurrent)
25,2
44,0
51,8
VAT receivable
VAT receivable
3,3
15,1
6,0
85,9
79,9
174,5
Cash and cash equivalents
80,8
11,0
39,3
Amounts due from credit institutions
0,0
40,2
59,0
100,0
11,2
-
0,4
0,3
0,2
-
-
-
Insuarance prepaid
2,6
11,0
12,3
Other current assets
6,3
76,7
11,7
-
-
-
Receivables from finance lease - NIL (current)
Impairment provision against Receivables from
finance lease
20,9
112,2
151,0
-
-
-
VAT receivable
14,1
32,9
42,5
225,1
295,5
316,0
311,0
375,3
490,5
(265,5)
(473,2)
(473,2)
Cash and cash
equivalents
Inventories
Inventories
Loans granted
Prepayments
and other current
assets
Loans granted
VAT receivable
Current
Assets
Share capital
Share capital
Reserves
Retained
earnings
Reserves
-
(1,2)
(1,2)
Retained earnings
-
(17,3)
(18,5)
Unpaid capital
Unpaid capital
-
164,9
162,6
(265,5)
(326,8)
(330,3)
(265,5)
(326,8)
(330,3)
Loans and borrowings
-
-
(92,0)
Other payables
-
-
-
(8,3)
(5,4)
(5,4)
(8,3)
(5,4)
(97,4)
-
(34,3)
(42,7)
Equity
Equity
Interest-bearing
loans
Advances and
other liabilities
Deferred tax
Deferred tax
Non-urrent
Current
0,4
Receivables
from finance
lease
Receivables
from finance
lease
Liabilities
0,4
13,9
Impairment provision against other current assets
Noncurrent
0,4
13,8
Restricted cash in UAH
Equity
2010
20,4
Noncurrent
Equity
2009
Property and equipment - cost
Property and equipment - accumulated
depreciation
Investments in financial lease objects
Current
2008
Interest-bearing
loans
Loans and borrowings
26
LEASING COMPANY “LEASINGFINANCE”
Advances and
other liabilities
Other current liabilities
(1,4)
(0,0)
(0,0)
-
-
(7,8)
Payables to employees
(4,8)
(1,0)
(1,1)
Other payables
(6,8)
(5,7)
(2,2)
Payables for CIP
(2,2)
-
-
Taxes payable, other than income tax
(3,2)
(0,6)
(0,5)
Current income tax payable
(0,3)
(0,3)
(0,1)
(18,7)
(41,9)
(54,5)
(27,1)
(47,3)
(151,9)
Amounts due from credit institutions
(0,0)
(6,6)
(1,5)
Finance income from finance lease
(2,9)
(74,6)
(35,5)
Amounts due to credit institutions
-
1,5
3,3
Depreciation
9,6
2,5
1,4
Other payables
Trade and other
payables
Taxes payable,
other than
income tax
Current income
tax payable
Current
Liabilities
PL
PL
Finance income
Finance
expenses
General and
admin expenses
General and admin expenses
60,1
91,8
21,2
Selling and
distribution
costs
Selling and distribution costs
0,7
8,6
3,8
Other income
Other expenses
-
1,6
-
(6,8)
(24,1)
(1,5)
Other income
Other expenses
Bed debt expenses
Other expenses
Other
income/expenses
Other income
Other income/expenses, net
Income tax
expense
PL
PL
Income tax expense
-
0,1
-
6,1
6,3
0,4
(286,5)
(152,8)
(11,6)
191,8
146,8
11,8
9,5
(2,4)
0,1
(18,5)
(1,3)
(8,2)
(18,5)
(1,3)
(8,2)
27