Leasing, Factoring and Renting all show widespread growth in 2025, with Factoring reaching new highs and Renting expanding

Factoring exceeds €50 billion; Renting close to a fleet of 150,000 vehicles; Leasing exceeds €3 billion

The Portuguese Association of Leasing, Factoring and Renting (ALF) has released the annual results for 2025 for the three products it represents: Factoring (and Confirming), Leasing (Equipment, Vehicle and Real Estate) and Renting. The data show positive growth across all sectors, with Factoring reaching a new all-time high, Renting continuing its expansionary trend and Equipment and Vehicle Leasing recording solid growth.

Key indicators

•   Factoring — Total volume: €51.5 billion | Year-on-year change: +12.7%

•   Equipment and Vehicle Leasing — Total volume: €2.2 billion | Year-on-year change: +4.0%

•   Real Estate Leasing — Total volume: €917 million | Year-on-year change: +0.7%

•   Renting — Total volume: 42,332 light vehicles | Year-on-year change: +9.6%

Factoring: record volume exceeds €51.5 billion

The factoring sector ended 2025 with a total volume of receivables of €51.5 billion, representing a 12.7% increase compared to the €45.7 billion recorded in 2024. This result consolidates the product’s position as a fundamental pillar of financing for Portuguese companies, particularly in supporting cash flow management and boosting export activity, with output equivalent to over 20% of national GDP.

Domestic Factoring grew by 16.3% to €21.8 billion. International Factoring reached €6.1 billion, with Export Factoring reaching €5.6 billion and growing by 5.7%. 

Confirming stood out as the segment with the highest individual volume in the domestic market, with receivables of €23.6 billion and growth of 11.7% compared to 2024, confirming the growing uptake by companies of integrated supplier payment management solutions.

Equipment and Vehicle Leasing: 4% growth driven by productive investment

Cumulative equipment and vehicle Leasing volume in 2025 totalled €2.24 billion, a 4.0% increase compared with €2.16 billion the previous year. This performance reflects the recovery in business investment and the modernisation of equipment, particularly in the automotive, industrial and services sectors.

Light Vehicles remained the main segment, with €974 million in production, whilst Heavy Vehicles reached €554 million.

Real Estate Leasing: stabilisation with marginal growth of 0.7%

Real Estate Leasing production amounted to €917 million in 2025, an increase of 0.7% compared to €911 million in 2024. Companies and public entities continue to dominate the segment, accounting for 95% of the total value.

By property type, Commercial Property remained the main segment, with €356 million, albeit with a 7.3% decline. Residential Property Leasing grew by 8.1%, with €264 million in production, and Industrial Property advanced by 15.9%, with €111 million. 

Combining the two components — equipment and vehicles and real estate — Leasing financed investments worth €3.2 billion in 2025.

Renting: fleet exceeds 146,000 vehicles, with electric cars now accounting for 26% of the production

In 2025, light vehicle renting recorded a cumulative production of 42,332 new vehicles, an increase of 9.6% compared to the 38,634 units of the previous year. In terms of investment value, production reached €1.2 billion (+5.6%).

The total fleet managed by ALF member companies stood at 146,160 vehicles on the road, an increase of 6.7% compared to the end of 2024, with a book value of €3.16 billion, confirming the vitality of the product as the preferred mobility solution.

The contribution of Renting to the energy transition remains highly significant: in 2025, 10,827 zero-emission vehicles were contracted under Renting schemes, a 17.6% increase compared to 2024, representing 25.6% of total production. Taking hybrid and plug-in hybrid vehicles into account as well, over 50% of new vehicles acquired via Renting have electric powertrains.

Within the existing fleet, zero-emission vehicles grew by 45%, reaching over 27,000 units, which highlights the structural role that Renting plays in the renewal and electrification of corporate fleets in Portugal. Conversely, diesel fell by 18.7%, continuing a sharp downward trend in recent years.

In 2025, 1 in 5 new light electric vehicles sold in Portugal were purchased by ALF’s member Renting companies.

"The results for 2025 are very positive and confirm the fundamental role played by the Leasing, Factoring and Renting sectors in financing and modernising the Portuguese economy. Factoring has reached a new all-time high, Renting is establishing itself as a driving force behind the energy transition in corporate fleets, and Leasing is reinforcing its irreplaceable role in supporting productive investment. These figures reflect the confidence that the Portuguese business community places in our members’ solutions,” says Luís Augusto, Chairman of the Board of ALF.

The range of products represented by ALF demonstrates the resilience and adaptability of the specialised financial sector. The inherent advantages of these products, moderate interest rates, the stability and predictability of costs they offer, and the growing demand for flexible financing and mobility solutions from economic agents, underpin the positive performance recorded in 2025.