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    GLJ   DE000A161N30

GRENKE AG

(GLJ)
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PRESS RELEASE : GRENKE AG raises profit forecast for 2021

07/28/2021 | 04:34am EDT
DGAP-News: GRENKE AG / Key word(s): Change in Forecast 
GRENKE AG raises profit forecast for 2021 
2021-07-28 / 10:32 
The issuer is solely responsible for the content of this announcement. 
=---------------------------------------------------------------------------------------------------------------------- 
GRENKE AG raises profit forecast for 2021 
 
  . 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: 
GRENKE AG 
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 
About GRENKE 
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 Group operates in 33 countries and employs more than 1,800 staff (full-time 
equivalents) worldwide. GRENKE shares are listed in the SDAX on the Frankfurt Stock Exchange (ISIN DE000A161N30). 
=---------------------------------------------------------------------------------------------------------------------- 
2021-07-28 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:  1222239 
 
End of News   DGAP News Service 
=------------ 

1222239 2021-07-28

 
Image link: 
https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1222239&application_name=news 
 

(END) Dow Jones Newswires

July 28, 2021 04:33 ET (08:33 GMT)

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Financials
Sales 2021 538 M 629 M 629 M
Net income 2021 68,2 M 79,7 M 79,7 M
Net Debt 2021 5 310 M 6 208 M 6 208 M
P/E ratio 2021 26,6x
Yield 2021 0,95%
Capitalization 1 741 M 2 044 M 2 036 M
EV / Sales 2021 13,1x
EV / Sales 2022 13,1x
Nbr of Employees 1 900
Free-Float 59,3%
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 6
Last Close Price 37,45 €
Average target price 46,83 €
Spread / Average Target 25,1%
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