The German factoring market 2013

Factoring 2013: Factoring turnover increased again

(Berlin, 26.03.2014) After rather a stagnation in the previous year, the factoring turnover increased once more in 2013 by 8.81 %, reaching a record turnover of 171.29 billion Euros. Also on customer level, the demand for factoring keeps increasing, although the augmentation (a plus of nearly 4% to currently 17.700 factoring clients) was more restrained than during the previous years. For the first time the volume of receivables purchased by the members of the association crossed the threshold of 170 billion Euros – “a very good result for our association, which celebrates its 40th anniversary in 2014”, says Joachim Secker, spokesman of Deutscher Factoring-Verband´s (German Factoring Association/DFV) executive board.

The German economy grew by only 0.4 % in 2013, but many factoring companies showed good results, particularly in the export business (+ 9.90 %), while the import business increased by 2.90 % to 3.16 billion Euros. Also the factoring ratio, i.e. the ratio between the volume of purchased receivables (according to the turnover of the members of the Deutscher Factoring-Verband and the GDP), increased, now reaching 6.26 %. Therefore the turnover of the 23 members of the Deutscher Factoring-Verband serves more than 6 % of the total German GDP!

The top 5 of the most important industries for factoring remained widely unchanged: Trade/trade negotiation, services, manufacturing of metal products and machines, nutrition/food and others are still the dominating categories.

The total factoring turnover of 171.29 billion Euros comprises B2C-factoring (1.68 billion Euros, +12.75 % in comparison to 2012) as well as Reverse Factoring (0.98 billion Euros, +22.5% in comparison to 2012), both of which increased disproportionately; apparently, these forms of factoring have potential for growth in the future.

ubstantial changes in the ranking of the most important partner regions and countries show that the crisis in other financial markets around the world have an effect also on the international factoring business: In 2013, Italy lost another 4 places and is now only on 10th position. Eastern Europe managed to remain number one. The Scandinavian countries are the major winners in terms of the ranking of countries and regions 2013, as they lept forward by 5 places, thus reaching 4th position. Asia also did better in 2013, going up three places to 8th position.

The global sovereign debt crisis will continue to be the main, but particularly European topic in 2014. In this regard, the Grand Coalition of CDU/CSU and SPD will hopefully be a stabilizing anchor in Europe. The coalition agreement contains the encouraging resolution to nationally decrease obstacles to financing SMEs. Therefore the members of the Deutscher Factoring-Verband maintain a generally optimistic outlook onto the development in 2014: Nearly 64 % of the members expect an at least “good” development, while more than 36 % predict an at least “satisfactory” business development.