The German factoring market 2015
Industry figures 2015: Factoring turnover still on the rise
(Berlin, 17 March 2016) The turnover of the members of the German factoring association (Deutscher Factoring-Verband e.V.) increased by 10.1% to 209,0 billion Euro in 2015.
More than 20,300 clients are already using the advantages of factoring as an alternative method of financing (a plus of 7.6%), especially in the medium-sized businesses. Hence, the factoring ratio, i.e. the ratio between the volume of purchased receivables (according to the turnover of the members of the German factoring association) and the gross domestic product (GDP), also increased to 6.9%.
In 2015, factoring was able to tie in with the great increase of the previous year, like it already did the year before. With a total turnover of nearly 210 billion Euro, a new benchmark was again achieved. „Factoring still increases - with a pleasant and sound dynamic“ summarizes Joachim Secker, spokesman of the German factoring association´s executive board.
The figures of the German factoring association are therefore the leading benchmark of the whole German factoring market: Measured by the factoring turnover, the members of the German factoring association represent more than 98% of the factoring market organized in associations in Germany.
2015 has been a great year for products „made in Germany“. In 2015, Germany exported products worth around 1.2 trillion Euro. The value of imports was 948 billion Euro. Both are new peaks. Also, international factoring benefited from this with a plus of 23.6%. It now increased to 59.6 billion Euro. Especially with export factoring, the German export of goods boomed (+ 24.2% to 55.8 billion Euro); import factoring increased by 15.4% to 3.8 billion Euro.
Changes also appeared in rankings of the most important partner regions and countries for factoring, where Eastern Europe and the Benelux showed no changes. France dropped by one mark for the first time, meanwhile Great Britain improved its position by one mark after a longer time. Greece and Spain both dropped by one mark, as well as Scandinavia which again dropped by two marks after it already dropped by three marks last year. Austria even improved its position by four marks, while Switzerland dropped by three marks.
Factoring – industries and volumes
Again trade/trade negotiation, vehicle construction, manufacturing of metal products and machines, services and (new) electronics/electronic components dominated the top 5. Vehicle construction improved by two places to the second position, which is obviously based on the good export situation.
The long-term trend towards the inhouse-model of factoring and away from full-service factoring has further gained momentum: The inhouse-model of factoring increased by 3.8 percentage points to 79.5%. Classical full-service factoring decreased by more than 5 percentage points to 13.5 %. Maturity factoring increased to just 7% (2014: 5.8%).
In 2016, the German factoring market expects further new players and changes. This is already reflected by the six new members that the association received in the recent past, while market consolidation is still persistent.
Thus, the general perspective in the factoring business turns out positive for the association´s members for the middle-term future. The members start the year 2016 optimistically: 12% of the members foresee a „very good“ business development, 32% of the members foresee a „good“ business development, and 52% of the members foresee an at least „satisfactory“ business development. Only 4% indicate a sufficient tendency. However, especially during the current turbulent economic period, factoring remains a reliable partner in financial planning, for SMEs as well as for bigger enterprises.
Deutscher Factoring-Verband e.V.
Dr. jur. Alexander M. Moseschus, Verbandsgeschäftsführer/Managing Director
Behrensptr. 73, 10117 Berlin
Telefon: 030-20 654 654, Fax: 030-20 654 656