Equipment and vehicle Leasing, Factoring and Renting boost growth in the third quarter in Portugal

The Portuguese Association of Leasing, Factoring and Renting (ALF) has just released its results for the third quarter of 2025, confirming the resilience and importance of specialised financing for the Portuguese economy, with positive performances in Factoring and Renting, stability in Equipment and Vehicle Leasing and a moderate adjustment in Real Estate Leasing.

Factoring grows by double digits and strengthens support for companies' cash flow

Cumulative figures up to 30 September 2025 show that factoring recorded significant year-on-year growth, remaining one of the main instruments supporting companies' liquidity:

• Turnover (including confirming): €36.97 billion

• Year-on-year growth: 14.3%

Growth is sustained by both domestic factoring and international operations, reflecting a dynamic Portuguese business environment, particularly in sectors most exposed to foreign trade. Confirming also continues to assert itself as a solution for companies, representing around 46% of total turnover. The performance of Factoring highlights sustained demand for short-term financing solutions based on real economy transactions, in an economic context still marked by prudent and active cash management.

With regard to the customers of entities that use Factoring, 84% of the receivables taken on relate to private entities, with the remaining 16% belonging to public sector debtors (around €5.8 billion). In the public sector, 84% of the receivables taken on relate to the National Health Service (€4.8 billion).

Renting continues to grow and consolidates its corporate fleet

Car renting maintained a positive trajectory in the third quarter:

• Accumulated production: 30 214 new light vehicles, an increase of 7.9%

• Associated investment: €829.48 million, an increase of 2.5%

• Total fleet: 141 005 vehicles, representing an increase of 3.6% compared to September 2024

Growth continues to be driven mainly by the corporate segment, reflecting the preference for flexible mobility and fleet management solutions, with a direct impact on the renewal and modernisation of corporate fleets.

At the end of the third quarter of 2025, new Renting acquisitions consisted of 24% fully electric vehicles (BEVs). When all forms of low-emission propulsion are combined (BEVs, hybrids and plug-in hybrids), they already account for 48% of vehicles acquired by Renting, revealing their decisive role in the energy transition.

Equipment and vehicle leasing shows stability, with a strong contribution from equipment

Equipment and vehicle leasing showed the following figures for the first three quarters of 2025:

• Total production: €1.68 billion

• Year-on-year change: 4.6%

By type of equipment, industrial machinery and equipment stood out: €142.4 million (+29.4%), showing that despite a more demanding context, productive investment is of central importance to economic activity.

In the light vehicle segment, there has been strong growth in plug-in hybrids, which have doubled since 2024, confirming the gradual transition to more efficient mobility solutions.  The light and heavy vehicle segment continues to account for around 70% of Equipment and vehicle leasing, with 28,933 light and heavy vehicles worth €1.15 billion.

Real Estate Leasing undergoing investment adjustment

In Real Estate Leasing, the accumulated production of ALF members reached €586.7 million in the third quarter of 2025, representing a year-on-year change of –12.3%.

The properties most financed through financial leasing continue to be commercial and residential properties, which represent more than 75% of total production.

In total, Leasing financed investments amounting to €2.27 billion, identical to the same period last year.

“The third quarter results demonstrate the strength and diversity of specialised financing in Portugal. The very significant growth in Factoring and the consistent evolution of Renting contrast with a decline in Real Estate Leasing, although this was offset by growth in Equipment and Vehicle Leasing, where investment continues to stand out. These figures confirm the fundamental role of these instruments in supporting businesses and national investment", says Luís Augusto, President of ALF.