International Leasing Company (CIL) Looks to Continue Growth after 2024 Achievements
Following its remarkable achievements in 2024, the International Leasing Company (CIL) is set to pursue its development. In its annual report, the company has published its 2025-2027 outlook.
Estimates and Projections
The lessor's projections show a 2025 net income (PNL) of MTND 48,672, up from MTND 45,013 at the end of 2024. This figure is expected to reach MTND 54,578 by the end of the period, representing a 6.6% average annual growth rate (AAGR). This pace is consistent with its historical performance.
The projections take into account the decline in placement products, which will decrease from MTND 7,532 in 2024 to MTND 5,500 this year. They will gradually increase in 2026-2027, thanks to a larger portfolio of investments. In parallel, the growth rate of financial expenses will be 2.1%, reaching MTND 50,359 in 2027.
Operating Expenses and Provisions
Operating expenses are expected to be MTND 15,240 and MTND 18,096 two years later. They will thus display a 10.1% AAGR, which represents a conservative hypothesis. Even the total of provisions, including those for risks, have been reinforced, with projections of MTND 5,210 by the end of 2027.
Net Income and Dividend
The 2025 net income is estimated at MTND 20,089 and will evolve to MTND 20,900 in 2026 and MTND 21,457 in 2027.
These figures seem logical. CIL has a good asset quality, although the ratio of classified claims rose to 8.35% in 2024. They are covered by 72.75%. The company has no issues in terms of access to financing and is generous towards its shareholders. It is worth noting that over 2021-2025, its total dividend reached MTND 10,095 per share, not to mention a free share allocation in 2023. On the market, its yield rise to 9.16% since the beginning of the year. Who does better?
