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    GLJ   DE000A161N30


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Grenke : 25.07.21 GRENKE AG raises profit forecast for 2021

07/28/2021 | 05:13am EDT
  • Consolidated Group net profit of EUR 60-80 million expected (previous forecast: EUR 50-70 million)
  • Stable payment behaviour of customers - Decrease in expenses for settlement of claims and adjustment in risk provisioning

Baden-Baden, July 28, 2021: GRENKE AG, a global financing partner for small and medium-sized enterprises, is raising its profit forecast for 2021. The Board of Directors now expects a Consolidated Group net profit after taxes of between EUR 60 million and EUR 80 million, compared to the previous forecast of EUR 50 million to EUR 70 million published with the publication of the 2020 Annual Report. According to preliminary figures, Consolidated Group net profit reached EUR 32 million in the first six months (1H 2020: EUR 33.2 million).

Based on the preliminary half-year figures for 2021, the need for risk provisioning ended up decreasing. Due to the high level of uncertainty resulting from the pandemic, the Board of Directors had previously projected a higher level of risk provisioning. The main reason for the change in the assessment is the continued stable payment behaviour of customers. The Board of Directors of GRENKE AG expects this to continue in the second half of 2021. The target range for net profit in the current fiscal year was raised as a result.

'Even though a high level of pandemic-related uncertainty remains, we are starting to see a normalisation in our operating business. This gives us strong confidence in the performance in the second half of the year. Our risk provisioning at the beginning of the year was appropriately cautious in view of the circumstances. The positive trend now allows us to raise our net profit outlook for the second half-year, despite our continued conservative risk provisioning,' commented Chief Financial Officer, Dr Sebastian Hirsch.

According to preliminary figures, the profit and loss item settlement of claims and risk provisioning decreased to EUR 84 million in the first half of 2021 (1H 2020: EUR 123.1 million). In the previous year, this item had increased significantly as a result of expected payment defaults at the beginning of the COVID-19 pandemic. Primarily due to the continuing negative impact of the pandemic, the Board of Directors still expects new leasing business in the range of EUR 1.7 billion and EUR 2.0 billion, following a level of EUR 2.0 billion in 2020. The Board of Directors also continues to expect to achieve an equity ratio of more than 16 percent.

For further information, please contact:


Team Investor Relations

Neuer Markt 2

76532 Baden-Baden

Phone: +49 7221 5007-204

Email: investor@grenke.de

Website: www.grenke.com

Press contact

Stefan Wichmann

Executive Communications Consulting

Neuer Markt 2

76532 Baden-Baden

Mobile: +49 (0) 171 20 20 300

Email: presse@grenke.de


Grenke AG published this content on 28 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 July 2021 09:12:05 UTC.

ę Publicnow 2021
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Sales 2021 538 M 630 M 630 M
Net income 2021 68,2 M 79,8 M 79,8 M
Net Debt 2021 5 310 M 6 219 M 6 219 M
P/E ratio 2021 26,8x
Yield 2021 0,94%
Capitalization 1 751 M 2 055 M 2 051 M
EV / Sales 2021 13,1x
EV / Sales 2022 13,1x
Nbr of Employees 1 900
Free-Float 59,3%
Duration : Period :
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Technical analysis trends GRENKE AG
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus BUY
Number of Analysts 6
Last Close Price 37,66 €
Average target price 46,83 €
Spread / Average Target 24,4%
EPS Revisions
Managers and Directors
Michael BŘcker Chairman-Management Board
Sebastian Hirsch Chief Financial Officer & Director
Ernst-Moritz Lipp Chairman-Supervisory Board
Ljiljana Mitic Member-Supervisory Board
Jens R÷nnberg Vice Chairman-Supervisory Board