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GRENKE AG / Key word(s): Miscellaneous
GRENKE: Receives unqualified audit opinion for the annual and consolidated financial statements as of December 31, 2020; plans dividend per share of 26 cents
Baden-Baden, May 17, 2021: GRENKE AG announces that the auditing firm KPMG has today issued an unqualified audit opinion for the annual and consolidated financial statements as of December 31, 2020. The Company will publish the 2020 Annual Report on May 21, 2021, as announced.
In comparison to the preliminary figures already published, there were changes that have led to an increase in the Group net profit for 2020 of EUR 8.5 million, bringing the total to EUR 88.4 million. This change resulted from a correction in the risk provision for the prior year (2019), which was already communicated as an option in the press release dated April 30, 2021. This increase was reduced by the recognition of further provisions for the costs of the audit of the annual financial statements.
As reported in the press release dated April 30, 2021, the equity ratio on the balance sheet as of
The Board of Directors plans to propose a dividend of 26 cents per share for the 2020 financial year (2019: 80 cents per share) to the Annual General Meeting. This dividend amount corresponds to a payout ratio of approximately 14 percent of the Group net profit, which is lower than the range of the previous payout policy, which in recent years has ranged between 25 and 30 percent of Group net profit.
For further information, please contact:
Information and Explanation of the Issuer to this News:
The GRENKE Group (GRENKE) is a global financing partner for small and medium-sized companies. As a one-stop shop for customers, GRENKE's products range from flexible small-ticket leasing and demand-driven bank products to convenient factoring. Fast and easy processing and personal contact with customers and partners are at the centre of GRENKE's activities.
Founded in 1978 in Baden-Baden, the Consolidated Group operates in 33 countries and employs more than 1,800 staff (full-time equivalent) worldwide. GRENKE shares are listed on the Frankfurt Stock Exchange (ISIN DE000A161N30).
17-May-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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