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    GLJ   DE000A161N30

GRENKE AG

(GLJ)
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Grenke : Quarterly Statement for the 1st Quarter 2021

05/31/2021 | 01:50am EDT

FOR THE 1ST QUARTER 2021

GRENKE GROUP

QUARTERLY STATEMENT

GROUP KEY FIGURES

Jan. 1, 2021

Jan. 1, 2020

UNIT

to Mar. 31, 2021

to Mar. 31, 2020

Change (%)

NEW BUSINESS LEASING

EURK

365'835

681'276

- 46.3

DACH*

EURk

104'331

158'241

- 34.1

Western Europe (without DACH)*

EURk

98'444

177'410

- 44.5

Southern Europe*

EURk

83'413

196'855

- 57.6

Northern/Eastern Europe*

EURk

57'201

120'501

- 52.5

Other regions*

EURk

22'446

28'269

- 20.6

NEW BUSINESS FACTORING

EURK

155'413

171'726

- 9.5

of which Germany

EURk

50'834

49'195

3.3

of which International

EURk

104'580

122'531

- 14.7

GRENKE BANK

Deposits per end of period

EURk

1'637'398

976'733

67.6

New business SME lending business incl. microcredit business

EURk

14'736

18'007

- 18.2

CONTRIBUTIONS MARGIN 2 (CM2) ON NEW BUSINESS

LEASING

EURK

71'506

123'888

- 42.3

DACH*

EURk

14'864

24'266

- 38.7

Western Europe (without DACH)*

EURk

21'346

33'425

- 36.1

Southern Europe*

EURk

17'967

37'289

- 51.8

Northern/Eastern Europe*

EURk

11'807

22'837

- 48.3

Other regions*

EURk

5'521

6'072

- 9.1

FURTHER INFORMATION LEASING

Number of new contracts

units

49'213

75'654

- 35.0

Mean acquisition value

EURk

7.4

9.0

- 17.5

Mean term of contract per end of period

months

48

49

- 2

Volume of leased assets per end of period

EURm

8'894

8'860

0.4

Number of current contracts per end of period

units

990'652

970'005

2.1

  • Regions:
    DACH: Germany, Austria, Switzerland
    Western Europe (without DACH): Belgium, France, Luxembourg, the Netherlands
    Southern Europe: Croatia, Italy, Malta, Portugal, Slovenia, Spain
    Northern / Eastern Europe: Denmark, Finland, Ireland, Latvia, Norway, Sweden, UK / Czechia, Hungary, Poland, Romania, Slovakia,
    Other regions: Australia, Brazil, Canada, Chile, Singapore, Turkey, UAE, USA
    Consolidated franchise companies:
    Leasing: Australia (2x), Canada (3x), Chile, Latvia, Norway, Singapore, USA
    Factoring: Hungary, Ireland, Italy, Poland, Portugal, UK

2

Jan. 1, 2021 to

Jan. 1, 2020 to

UNIT

Mar. 31, 2021

Mar. 31, 2020

Change (%)

adjusted1

INCOME STATEMENT

Net interest income

EURk

95'117

104'704

- 9.2

Settlement of claims and risk provision

EURk

44'591

56'942

- 21.7

Total operating expenses

EURk

63'866

58'375

9.4

Operating result

EURk

19'685

26'625

- 26.1

Earnings before taxes (EBT)

EURk

18'276

24'367

- 25.0

NET PROFIT

EURK

13'987

19'651

- 28.8

NET PROFIT ATTRIBUTABLE TO ORDINARY SHAREHOLDERS

EURK

5'481

16'326

- 66.4

Net profit attributable to hybrid capital holders

EURk

9'404

7'428

26.6

Net profit attributable to non-controlling interests

EURk

- 898

- 4'103

78.1

Earnings per share

EUR

0.12

0.35

- 65.7

(basic and diluted)

Cost/income ratio

percent

51.2

43.7

17.4

Staff cost

EURk

31'674

31'730

- 0.2

of which total remuneration

EURk

26'028

25'994

0.1

of which fixed remuneration

EURk

20'151

19'312

4.3

of which variable remuneration

EURk

5'877

6'682

- 12.0

Average number of employees in full-time equivalent (FTE)

employees

1'844

1'851

- 0.4

1 Figures for 2020 have been adjusted in accordance with IAS 8.42 (including the consolidation of the franchise companies)

UNIT

Mar. 31, 2021

Dec. 31, 2020

Change (%)

STATEMENT OF FINANCIAL POSITION

Total assets

EURm

7'247

7'332

- 1.2

Lease receivables

EURm

5'464

5'636

- 3.1

Equity persuant to statement of financial position2

EURm

1'196

1'193

0.3

Equity persuant to CRR

EURm

1'121

1'031

8.7

Equity ratio

percent

16.5

16.3

1.2

Embedded value, leasing contract portfolio (excl. equity before taxes)

EURm

567

664

- 14.6

Embedded value, leasing contract portfolio (incl. equity after taxes)

EURm

1'617

1'657

- 2.4

2 Including AT1 bonds (hybrid capital), which are reported as equity under IFRS

3

AT A GLANCE

DIVERSIFICATION:

LEASING NEW BUSINESS PORTFOLIO

IT PRODUCTS (IN DETAIL)

Security devices and others:

6

+

6.0

IT equipment: 34.7

Medical technology:

9.0

%

Copying technology:

%

20.5

Machines / systems:

Telecommunication

18.0

March 31, 2021

equipment: 8.7

IT Products:

General office

30 equipment: 3.1

67.0

KEY FIGURES:

CONSOLIDATED

EARNINGS PER SHARE

EQUITY RATIO

GROUP NET PROFIT

14.0 EUR million

0.12 EUR

16.5 percent

REFINANCING BASE:

THREE PILLARS: GRENKE CONSOLIDATED GROUP'S REFINANCING MIX

+

Grenke Bank: 33

Asset Based: 14

%15P

March 31, 2021

33

Senior Unsecured: 53

4

CONTENTS

// Key figures

6 // Condensed interim group management report 6 // Business performance

9 // Net assets, financial position and results of operations

12 // Report on risks, opportunities and forecasts

14 // Condensed interim consolidated financial statements 14 // Consolidated Income Statement

15 // Consolidated Statement of Financial Position

17 // Consolidated Statement of Cash Flows

  1. // Calendar of events
  2. // Imprint

5

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Grenke AG published this content on 31 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 May 2021 05:49:05 UTC.


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Sales 2021 566 M 671 M 671 M
Net income 2021 65,9 M 78,2 M 78,2 M
Net Debt 2021 5 310 M 6 297 M 6 297 M
P/E ratio 2021 25,9x
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EV / Sales 2021 12,4x
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Nbr of Employees 1 844
Free-Float 56,1%
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Sebastian Hirsch Chief Financial Officer & Director
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