So ist das Leben /That's life / C'est la vie / Así es la vida / È la vita ...

Management Report /
akf group
/ NEW BUSINESS AND REVENUE INCREASE
/ STRONG PARTNER OF SMES AND THE AUTOMOTIVE TRADE
Although the dynamic recovery of the world economy – after the recession of the years 2008 and 2009 – has
recently slowed somewhat, the very export-oriented German economy was able to grow by about 3 percent
in the year under review. The revival in the overall total level of investment in 2010 also continued
through out 2011 and an increase of 6.9 percent could be recorded for the entire year. Additionally, the
number of new car registrations rose by 8.8 percent as against previous year to 3.17 million. Against this
background, all business segments at akf group were able to contribute to a considerable growth in the
level of new business (plus 51.4 percent to EUR 675.4 million). Revenue also developed positively.
The strategic focus of akf group continues to be on endeavoring to act as a partner to small and mediumsized
enterprises (SMES) in investment financing and in vendor finance for automotive dealers. Moreover,
consumer finance services were extended for the companies of the Vorwerk Group in Germany,
Poland and Spain.
139,143
FROM AMARENA CHERRY TO LEMON
Management Report / akf group / 29
How many different ice cream flavors actually exist? An estimated 130 in Germany
and 180 in Italy, but that’s nothing compared with the number of mobile assets
currently individually financed or leased by akf bank, namely 139,143. So what does
all this have to do with ice cream? Well, last year one of the mobile assets financed
was an ice cream machine.