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Grenke AG (GKSGF)
| Previous close | 39.10 |
| Open | 39.17 |
| Bid | 0.00 x 0 |
| Ask | 0.00 x 0 |
| Day's range | 39.10 - 39.10 |
| 52-week range | 33.90 - 84.70 |
| Volume | 13,600 |
| Avg. volume | 221 |
| Market cap | 1.819B |
| Beta (5Y monthly) | 1.72 |
| PE ratio (TTM) | 20.30 |
| EPS (TTM) | 1.93 |
| Earnings date | N/A |
| Forward dividend & yield | N/A (N/A) |
| Ex-dividend date | N/A |
| 1y target est | N/A |
- EQS Group
GRENKE AG: GRENKE: Chair of the Board of Directors Antje Leminsky leaves the Company; Michael Bücker to take over as of August 1, 2021
DGAP-News: GRENKE AG / Key word(s): Personnel14.06.2021 / 20:49 The issuer is solely responsible for the content of this announcement.GRENKE: Chair of the Board of Directors Antje Leminsky leaves the Company; Michael Bücker to take over as of August 1, 2021 Baden-Baden, June 14, 2021: GRENKE AG announces that the Chair of the Board of Directors, Antje Leminsky, has decided for personal reasons to leave the Company as of June 30, 2021 after eight years on the Board of Directors of GRENKE AG, incl
- EQS Group
GRENKE AG: GRENKE on track with first quarter - pick-up expected in second half-year
DGAP-News: GRENKE AG / Key word(s): Quarterly / Interim Statement31.05.2021 / 06:59 The issuer is solely responsible for the content of this announcement.GRENKE on track with first quarter - pick-up expected in second half-year- Net profit of EUR 14.0 million in Q1 2021 (Q1 20201: EUR 19.7 million)- Cost-income ratio at 51.2% (adjusted for extraordinary consulting and audit costs: 46.0%)- Markets expected to pick up in the second half of the year, resulting in stronger new business- Business forecast for 2021 reaffirmed: New leasing business of EUR 1.7 to 2.0 billion, net profit in the range of EUR 50 million to EUR 70 million and equity ratio > 16%Baden-Baden, May 31, 2021: GRENKE AG, global financing partner for small and medium-sized enterprises, generated net profit of EUR 14.0 million in the first quarter of 2021 (Q1 20201: EUR 19.7 million) despite the impact of the COVID-19 pandemic."This is a respectable result. The pandemic has hit the global economy hard, and still GRENKE is proving to be more than robust, even in these challenging times," said Antje Leminsky, Chair of the Board of Directors of GRENKE AG, in her comments on the business performance in the first quarter of 2021.Chief Financial Officer Sebastian Hirsch adds: "We are on track. Now we need a return to normality to grow our business again. We expect our new business to pick up in the second half of the year."The cost-income ratio (CIR) was 51.2% (Q1 20201: 43.7%), and thereby exceeded the full-year target of below 50%. This is mainly due to the extraordinary consulting and audit costs of EUR 6.7 million for the first quarter as a result of the special audits. Adjusted for these non-recurring expenses, the CIR is 46.0%. Consulting and audit costs in the first quarter of 2021 came to a total of EUR 11.2 million (Q1 20201: EUR 3.9 million). As a result, selling and administrative expenses increased 27.5% to EUR 25.2 million in the reporting period (Q1 20201: EUR 19.8 million). Staff costs remained stable at EUR 31.7 million (Q1 20201: EUR 31.7 million).The steady payment behaviour of customers had a positive effect in the first quarter of 2021, resulting in risk provisions of EUR 44.6 million, which was 21.7% lower than in the same prior-year quarter. The corresponding loss rate in the first quarter of 2021 was 2.0%.The GRENKE Group's total assets amounted to EUR 7.2 billion as of the March 31, 2021 reporting date (December 31, 2020: EUR 7.3 billion). The largest balance sheet item - non-current and current lease receivables - decreased by 3.1% to EUR 5.5 billion as of the reporting date (December 31, 2020: EUR 5.6 billion). This development reflects the lower volume of new business in recent quarters. Liquidity amounted to EUR 1.1 billion as of March 31, 2021 (December 31, 2020: EUR 0.9 billion). The equity ratio was 16.5% and continued to exceed the self-set target of at least 16%.BaFin audits in the final phase All of the audit activities in connection with the special audit pursuant to Section 44 of the German Banking Act (KWG) that were carried out by the auditing firm Mazars have been completed. GRENKE has received the corresponding reports from the German Federal Financial Supervisory Authority (BaFin) as expected. The Company is now reviewing the measures already initiated and planned on this basis in coordination with BaFin, who will also determine how to further proceed. The enforcement review of GRENKE AG's consolidated financial statements as of December 31, 2019, and the combined group management report and management report for the 2019 financial year, which was handed over to BaFin from the German Financial Reporting Enforcement Panel on September 30, 2020, is also expected to be completed in the near future. The Company has already taken the expected findings into account in its preparation of the 2020 consolidated financial statements.Outlook The year 2021 is a transitional year for GRENKE. The Board of Directors currently expects new leasing business of between EUR 1.7 billion and EUR 2.0 billion, compared to EUR 2.0 billion in the previous year, primarily due to the pandemic. The COVID-19 pandemic caused the financial year to get off to a subdued start, with the first quarter on par with the fourth quarter of 2020. As the year progresses, the Board of Directors expects the markets to pick up and new business to be stronger in the second half of 2021 than in the first half.The measures from the special audits are planned to be largely implemented during the current financial year. GRENKE intends to acquire the first franchise companies by the end of 2021, with the entire acquisition process expected to be completed in 2022.The lower new business during recent quarters and in the months to come will also be reflected in the operating income for full-year 2021. Furthermore, despite lower business volumes, the Board of Directors currently expects costs to increase slightly due to the lagging effects of the audits. In total, the Board of Directors expects net profit for the 2021 financial year in the range of EUR 50 million to EUR 70 million due to the high profitability of the existing contract portfolio and new business.The quarterly statement for the first quarter of 2021 is available online at www.grenke.com/investor-relations/reports-and-presentations. Overview of key figures (in EUR million) Q1 2021 Q1 20201 adjusted Q1 2021 vs. Q1 2020 adjusted (∆ in %) Q1 2020 as reported New business 536.0 871.0 -38.5 871.0 New business Leasing 365.8 681.3 -46.3 681.3 New business Factoring 155.4 171.7 -9.5 171.7 New business SME lending 14.7 18.0 -18.2 18.0 CM2 margin of new leasing business in % 19.5 18.2 1.3 pp 18.2 Net profit 14.0 19.71 -28.8 23.7 Cost-income ratio in % 51.2 43.71 7.6 pp 43.5 Equity ratio in % 16.5 16.31 0.2 pp 17.2 Consolidated Group's average number of employees (full-time equivalents) 1,844 1,8511 -0.4 1,744 1 Figures have been adjusted in accordance with IAS 8.42 (including the consolidation of franchise companies).Please note: Rounding may result in differences in individual values compared to the values actually achieved inEUR.For further information, please contact:GRENKE AGTeam Investor RelationsNeuer Markt 276532 Baden-BadenPhone: +49 7221 5007-204Email: investor@grenke.deInternet: www.grenke.dePress contactStefan WichmannExecutive Communications ConsultingNeuer Markt 276532 Baden-BadenMobile: +49 (0) 171 20 20 300Email: presse@grenke.de About GRENKEThe 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 equivalents) worldwide. GRENKE shares are listed on the Frankfurt Stock Exchange (ISIN DE000A161N30).31.05.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de Language: English Company: GRENKE AG Neuer Markt 2 76532 Baden-Baden Germany Phone: +49 (0)7221 50 07-204 Fax: +49 (0)7221 50 07-4218 E-mail: investor@grenke.de Internet: www.grenke.de ISIN: DE000A161N30 WKN: A161N3 Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange EQS News ID: 1202331 End of News DGAP News Service
- EQS Group
GRENKE AG: GRENKE AG presents its annual report for the year 2020
DGAP-News: GRENKE AG / Key word(s): Annual Report21.05.2021 / 06:59 The issuer is solely responsible for the content of this announcement.GRENKE AG presents its annual report for the year 2020- CEO Antje Leminsky: "Remarkable success in a difficult period"- CFO Sebastian Hirsch: "A powerful validation of our value and profitability"- Quarterly statement for Q1 2021 to be published on May 31, 2021- Virtual Annual General Meeting to be held on July 29, 2021Baden-Baden, May 21, 2021: GRENKE AG, a global financing partner for small and medium-sized enterprises, today published its annual report for the year 2020. The Company presented preliminary figures on April 30, 2021 followed by an announcement on May 17, 2021 that the auditing firm KPMG had issued an unqualified audit opinion for the annual and consolidated financial statements as of December 31, 2020."We have successfully concluded an exceptionally difficult 2020," says Antje Leminsky, Chair of the Board of Directors of GRENKE AG. "Not only did we withstand the strong headwinds from various directions, but now the prerequisites are in place to allow GRENKE to return to its growth mode."At EUR 88.4 million (20191: EUR 133.3 million), GRENKE met its forecast of consolidated net profit in the upper double-digit millions published on February 26, 2021. This level of net profit corresponds to earnings per share of EUR 1.86 (20191: EUR 2.89). For the current financial year, GRENKE is forecasting net profit of EUR 50 million to EUR 70 million.The Board of Directors and Supervisory Board propose a dividend payment for the 2020 financial year of EUR 0.26 per share (previous year: EUR 0.80). This level enables GRENKE AG to conserve its capital base and the flexibility to take advantage of future growth opportunities.The extremely thorough audit of the financial statements by KPMG confirmed the value of GRENKE's business. At 16.3 percent, the equity ratio remained high and above the Company's self-imposed minimum target of 16 percent."The audited consolidated financial statements prove beyond a doubt the value and sustainability of our business. We are aware that we can and must improve in some areas, but we have successfully mastered an audit marathon and have already increased our level of transparency significantly," says Sebastian Hirsch, Chief Financial Officer of GRENKE AG, adding: "This gives us a good starting point for expanding our leading position as a provider of small-ticket leasing and as a partner for SMEs worldwide."On May 31, 2021, GRENKE will report its business performance for the first quarter of 2021 and invite the media and investors to participate in a conference call as usual.GRENKE has started the routine tender process for the appointment of the auditor for the 2021 financial year 2021. The result of this tender will be announced with the invitation to the ordinary Annual General Meeting, which will be held as a virtual meeting on July 29, 2021.The GRENKE Group's Annual Report for the 2020 financial year is available at https://www.grenke.com/investor-relations/reports-and-presentations.Overview of group figures according to IFRS (in EUR millions) 2020 20191 adjusted 2020 vs. 20191 adjusted (∆ in %) 2019 as reported Income statement Jan. 1 - Dec. 31 Net interest income 407.1 381.5 6.7 368.9 Settlement of claims and risk provision 202.4 136.6 48.2 125.9 Net interest income settlement of claims and risk provision 204.7 244.9 -16.4 243.0 Income from operating business 360.3 399.7 -9.8 396.7 Staff costs 119.8 120.8 -0.9 115.8 Consulting and audit fees 27.2 14.9 62.4 14.0 Other costs and depreciation/impairment 88.3 97.3 -9.2 92.5 Operating result 125.1 166.7 -24.9 174.3 Earnings before taxes 115.2 162.8 -29.2 170.7 Net profit 88.4 133.3 -33.7 142.1 EPS in Euro 1.86 2.89 -35.6 2.92 Statement of financial position as of Dec. 31 Assets Cash and cash equivalents 944.7 446.0 111.8 434.4 Lease receivables 5,636.3 5,775.6 -2.4 5,645.9 Intangible assets 67.5 70.9 -4.8 144.5 Other assets 683.3 805.4 -15.0 922.7 Total assets 7,331.8 7,097.9 3.3 7,147.5 Liabilities Financial liabilities 5,810.1 5,680.0 2.3 5,640.7 Other liabilities 328.6 274.7 19.7 258.0 Total equity 1,193.1 1,143.2 4.4 1,248.8 Total equity and liabilities 7,331.8 7,097.9 3.3 7,147.5 Equity ratio 16.3 16.1 1.2 17.5 Statement of cash flows Jan. 1 - Dec. 31 Payments by lessees 2,318.7 2,080.2 11.5 1,973.5 Payments for refinancing 1,485.2 1,323.8 12.2 1,320.4 Proceeds from refinancing 1,123.5 2,153.0 -47.8 2,146.2 1All figures for 2019 in this press release have been adjusted in accordance with IAS 8.42 (including the consolidation of the franchise companies). See also the notes to the consolidated financial statements, chapter 2.3, pages 125 et al in the 2020 Annual Report.For further information, please contact: GRENKE AG Team Investor Relations Press contact Stefan Wichmann Executive Communications Consulting Neuer Markt 2 Neuer Markt 2 76532 Baden-Baden 76532 Baden-Baden Phone: +49 7221 5007-204 Mobile: +49 (0) 171 20 20 300 Email: investor@grenke.de Email: presse@grenke.de Internet: www.grenke.de About GRENKEThe 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 equivalents) worldwide. GRENKE shares are listed on the Frankfurt Stock Exchange (ISIN DE000A161N30).21.05.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de Language: English Company: GRENKE AG Neuer Markt 2 76532 Baden-Baden Germany Phone: +49 (0)7221 50 07-204 Fax: +49 (0)7221 50 07-4218 E-mail: investor@grenke.de Internet: www.grenke.de ISIN: DE000A161N30 WKN: A161N3 Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange EQS News ID: 1199150 End of News DGAP News Service
