05.04.2022 GRENKE AG  DE000A161N30

DGAP-News: GRENKE AG: Upward trend continues in the first quarter of 2022


 

DGAP-News: GRENKE AG / Key word(s): Miscellaneous
GRENKE AG: Upward trend continues in the first quarter of 2022

05.04.2022 / 07:02
The issuer is solely responsible for the content of this announcement.


GRENKE: Upward trend continues in the first quarter of 2022

- New leasing business in Q1 2022 grows dynamically by 36.5% to EUR 499.2 million (Q1 2021: EUR 365.8 million)

- Contribution margin 2 increases to EUR 83.2 million (+16.4% vs. Q1 2021: EUR 71.5 million)

- Mean acquisition value per lease contract equals EUR 8,064 (Q1 2021: EUR 7,434)

Baden-Baden, April 5, 2022: GRENKE AG, a global financing partner for small and medium-sized enterprises, generated new leasing business of EUR 499.2 million in the first quarter of 2022, amounting to a year-on-year increase of 36.5% (Q1 2021: EUR 365.8 million). The upward trend continued in the first quarter of the reporting year. In the fourth quarter of 2021, new business had grown year-on-year by 22.1%.

"The external environment remains extremely challenging," says Michael Bücker, Chair of the Board of Directors of GRENKE AG, in his comments on the current business performance: "We have done a good job and are again on a sustainable growth path." Dr Sebastian Hirsch, Chief Financial Officer of GRENKE AG, adds: "With our strong start in new leasing business in the new financial year, we are more than a third higher than in the same period in the previous year and fully in line with our guidance for 2022."

Regional development of new leasing business

In all regions, new leasing business was significantly higher in the first quarter of 2022 compared to the prior-year quarter. The DACH region recorded a year-on-year increase of 13.1% in the reporting period, and Western Europe excluding DACH recorded growth of 33.9%. The strongest growth in new leasing business was generated in Southern Europe with 58.2% and Northern/Eastern Europe with 58.7%. The other regions registered an increase of 19.2%.

Development of the contribution margin

The contribution margin 2 (CM2) of the new leasing business increased by 16.4% to EUR 83.2 million in the first quarter of 2022 compared to EUR 71.5 million in the first three months of the previous financial year. The CM2 margin was 16.7%, or 2.8 percentage points below the margin of the exceptionally profitable prior-year quarter (Q1 2021: 19.5%) and 0.4 percentage points above the figure of the previous quarter (Q4 2021: 16.3%). Contribution margin 1 (CM1) increased by 19.2% to EUR 55.6 million in the first quarter of 2022 (Q1 2021: EUR 46.6 million). The CM1 margin of 11.1% was 1.6 percentage points lower than in the same quarter of the prior year (Q1 2021: 12.7%) and 0.5 percentage points higher than in the previous quarter (Q4 2021: 10.6%).

The year-on-year development of the contribution margins was the result of higher refinancing costs and a higher mean acquisition value per new lease contract in the first quarter of 2022 of EUR 8,064 (Q1 2021: EUR 7,434). The increase in contribution margins compared to the fourth quarter of 2021 is extremely positive in view of the high level of refinancing costs. The mean acquisition value per contract in new leasing business in the fourth quarter of 2021 was EUR 8,677.

Development of lease applications

Despite the difficult economic environment, GRENKE registered a total of 134,653 lease applications in the first quarter of 2022, significantly above the level in the first quarter of 2021 (116,814 lease applications). In the fourth quarter of 2021, the number of lease applications totalled 119,825.

At Group level, 61,906 new leases were signed in the first quarter of the reporting year, representing a conversion rate of 46% (Q1 2021: 49,213 new leases, 42% conversion rate). In the fourth quarter of 2021, 60,064 new leases were concluded for a conversion rate of 50%.

Development of the factoring business and the Bank's new lending business

With purchased receivables of EUR 175.1 million, new factoring business recorded an increase of 12.6% compared to the same period in the previous year (Q1 2021: EUR 155.4 million). In Germany, new factoring business registered a decline of 15.5%, while new factoring business in the international markets increased by 26.3% to EUR 132.1 million. At EUR 15.8 million, GRENKE Bank's new lending business in the first quarter of 2022 reached a level comparable to that of the same quarter of the previous year (Q1 2021: EUR 14.7 million).

Development of refinancing at GRENKE Bank

GRENKE Bank's deposit business continued to be an important pillar of the Consolidated Group's refinancing with a share of almost 30%. The deposit volume amounted to EUR 1.3 billion as of March 31, 2022 (March 31, 2021: EUR 1.6 billion).

 

 

Overview of new business development (in EUR millions)

  Q1 2022 Q1 2021 Change in %
       
New business Leasing 499.2 365.8 36.5
- of which international 381.2 261.5 45.8
- of which DACH* 118.0 104.3 13.1
Western Europe (without DACH)* 131.8 98.4 33.9
Southern Europe* 131.9 83.4 58.2
Northern/Eastern Europe* 90.7 57.2 58.7
Other regions* 26.8 22.4 19.2
New business Factoring 175.1 155.4 12.6
- of which Germany 43.0 50.8 -15.5
- of which international 132.1 104.6 26.3
GRENKE Bank      
New business lending business 15.8 14.7 7.3
Deposit volume** 1,331.0 1,637.4 -18.7

Contribution margin 2 (CM2) of
     
new business Leasing 83.2 71.5 16.4
- of which international 67.8 56.6 19.6
- of which DACH* 15.5 14.9 4.2
Western Europe (without DACH)* 23.7 21.3 11.0
Southern Europe* 22.0 18.0 22.7
Northern/Eastern Europe* 16.6 11.8 40.7
Other regions* 5.4 5.5 -2.1
 

Note: Rounding differences may occur

*Regions: DACH: Germany, Austria, Switzerland
Western Europe without DACH: Belgium, France, Luxembourg, 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

** As of the end of the period

 

For further information, please contact:

GRENKE AG
Team Investor Relations
Neuer Markt 2
76532 Baden-Baden
Phone: +49 7221 5007-204
Email: [email protected]
Internet: www.grenke.de
Press contact
Stefan Wichmann
Executive Communications Consulting
Neuer Markt 2
76532 Baden-Baden
Email: [email protected]
Mobile: +49 171 20 20 300
 

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 GRENKE Group operates in 33 countries and employs more than 1,900 staff worldwide. GRENKE shares are listed in the SDAX on the Frankfurt Stock Exchange (ISIN DE000A161N30).



05.04.2022 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.

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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: [email protected]
Internet: www.grenke.de
ISIN: DE000A161N30
WKN: A161N3
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1320037

 
End of News DGAP News Service

1320037  05.04.2022 

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Die wichtigsten Finanzdaten auf einen Blick
  2017 2018 2019 2020 2021 2022 2023e
Umsatzerlöse1 2.418,55 2.936,64 3.512,49 2.675,70 2.358,74 3.083,36 3.419,82
EBITDA1,2 176,71 174,38 203,03 153,99 163,99 130,44 139,98
EBITDA-Marge3 7,31 5,94 5,78 5,76 6,95 4,23
EBIT1,4 161,35 157,16 170,00 125,12 132,51 97,98 112,91
EBIT-Marge5 6,67 5,35 4,84 4,68 5,62 3,18 3,30
Jahresüberschuss1 124,98 131,11 135,90 88,44 95,19 84,18 86,71
Netto-Marge6 5,17 4,46 3,87 3,31 4,04 2,73 2,54
Cashflow1,7 27,95 53,66 140,75 586,62 -72,04 -346,84 329,25
Ergebnis je Aktie8 2,74 2,78 2,95 1,86 1,94 1,75 1,79
Dividende8 0,70 0,80 0,80 0,26 0,51 0,45 0,58
Quelle: boersengefluester.de und Firmenangaben

  Geschäftsbericht 2023 - Kostenfrei herunterladen.  
1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de

Wirtschaftsprüfer: BDO

INVESTOR-INFORMATIONEN
©boersengefluester.de
Grenke
WKN Kurs in € Einschätzung Börsenwert in Mio. €
A161N3 24,800 - 1.153,09
KGV 2025e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
10,33 21,56 0,47 11,21
KBV KCV KUV EV/EBITDA
1,01 3,50 0,34 8,24
Dividende '22 in € Dividende '23e in € Div.-Rendite '23e
in %
Hauptversammlung
0,45 0,47 1,90 30.04.2024
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
15.05.2024 08.08.2024 14.11.2024 07.03.2024
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
6,31% 5,65% -1,00% 5,08%
    
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Finanzdienstleistungen , A161N3 , GLJ , XETR:GLJ