BIK Ratings has assigned a credit rating of by.A with an uncertain outlook to Eurotime Leasing Company LLC, which is a member of the Insight Investment Group. This rating reflects that the company's creditworthiness is above average.
According to BIK Ratings, Eurotime is likely to fulfill all its current financial obligations on time in the short term, with a higher-than-average probability. The risk of encountering financial difficulties due to significant one-time payment obligations is assessed as below average.
BIK Ratings views Eurotime's profitability as relatively high. Based on the agency's calculations, as of the end of Q2 2024, Eurotime reported a net profit margin of 21.4%, a return on equity of 60.2%, and a return on assets of 4.3%.
The uncertain outlook for Eurotime's credit rating stems from the company’s acquisition of another leasing organization's portfolio and the prevailing uncertainty regarding future rating factors. In the summer of 2024, Eurotime completed the acquisition of a Belarusian leasing company's portfolio (net investment in leasing) valued at over 500 million Russian rubles.
For more information about the rating, visit web-site.
Eurotime Leasing Company specializes in providing financial leasing services, primarily for vehicles, to both businesses and individuals in the Belarusian domestic market. As of July 30, 2024, Eurotime's IFRS assets totaled 5.2 billion Russian rubles, with a net profit of 61 million Russian rubles. The new business volume for the first half of the year reached 2.05 billion Russian rubles, while the consumer leasing portfolio (leasing contracts with individuals) comprised 28% of the total. Eurotime has been part of the Insight Investment Group since March 2024.
