Grenke AG — AGM Information 2015

May 12, 2015

News Details

Corporate | 12 May 2015 16:37

GRENKELEASING AG: The GRENKE Board of Directors reports successful fiscal year – Shareholders resolve to increase dividend to EUR 1.10 per share

DGAP-News: GRENKELEASING AG / Key word(s): AGM/EGM

2015-05-12 / 16:37

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The GRENKE Board of Directors reports successful fiscal year - Shareholders
resolve to increase dividend to EUR 1.10 per share

• GRENKE shareholders resolve to increase the dividend to EUR 1.10 per
  share
• The Board of Directors and Supervisory Board are granted a discharge
• GRENKE increases the proportion of women on its Supervisory Board
• Resolution approved for new authorised capital
• Conversion to registered shares enhances financial communication

Baden-Baden, May 12, 2015: At today's Annual General Meeting, the
shareholders of GRENKELEASING AG resolved the distribution of a dividend
for the 2014 fiscal year in the amount of EUR 1.10 per share (previous
year: EUR 1.00) based on the positive results of the past fiscal year and
the confidence in the Consolidated Group's further development.

The Annual General Meeting granted the members of the Board of Directors
and the Supervisory Board a discharge for the 2014 fiscal year. For the
appointment of the auditor for the year 2015, the Annual General Meeting
followed the recommendation of the management.

The terms of office held by the Supervisory Board members Dieter Münch and
Prof. Dr. Thilo Wörn ended as planned with the conclusion of the Annual
General Meeting. The Supervisory Board and Board of Directors of
GRENKELEASING AG extended their appreciation to Mr. Münch and Prof. Dr.
Wörn for contributing their valuable experience and for their commitment.
Mr. Florian Schulte and Mr. Erwin Staudt were reappointed to the
Supervisory Board for another four years. Proposals for two new
appointments were also on the meeting's agenda: with the appointment of Ms.
Tanja Dreilich and Dr. Ljiljana Mitic, the proportion of women on the
Supervisory Board of GRENKELEASING AG rose to more than 30 percent.

The attending shareholders approved the agenda item providing for the
creation of new authorised capital. This new authorised capital will
maintain GRENKE's ability to meet the financial requirements of a globally
operating company quickly and in a flexible manner using equity capital.

The resolved conversion from bearer shares to registered shares reflects
the Company's international orientation. Converting the shares into
registered shares also makes it easier for the Company to reliably,
transparently and openly communicate with its shareholders.

In his speech, which focussed on the successful 2014 fiscal year, the
Chairman of the Board of Directors, Wolfgang Grenke, also remarked on the
future: "We are optimistic with regard to the growth of our new business
volume in view of our competitive strength and excellent market position.
In 2015, we expect the new business growth of our leasing business to reach
between 11 and 15 percent and the new business growth of our factoring
business to achieve a level of between 20 and 24 percent. We are also
maintaining our high CM2 target, which is based on the margins achieved
over the past several years. In addition to the upcoming cell divisions in
European countries, including Germany, we also plan to enter the Irish
market through our Factoring segment and start operations in Singapore
through our Leasing segment. Given our rising interest income from the
strong positive momentum of the new business generated in our Leasing
segment in recent years, we expect continued growth in earnings in the 2015
fiscal year with net profit climbing to a range of EUR 71 to EUR 75
million. Earnings will be supported by the continued high margins of our
current new business and the strong growth of our factoring business".

The Company's Chief Financial Officer (CFO), Jörg Eicker, added: "The
financing of our expansion continues to be well secured. We have an
excellent position on the capital markets due to our broad range of
refinancing instruments. The deposit volumes held at GRENKE Bank grew
considerably in 2014, rising 18 percent. Our stable refinancing basis was
confirmed by two rating agencies this past October. With a stable equity
ratio of 17 percent, we continue to exceed our long-term target range of 16
percent. Despite our optimised risk structure, we maintained our
profitability. Our net interest income grew a pleasing 21 percent
year-on-year and, at EUR 65 million, we increased our net profit by 38
percent in comparison to the previous fiscal year."

Around 250 shareholders took part in the Annual General Meeting. The
shareholder presence at the time of voting was 84.3%.

The Company had invited a number of pupils to its Annual General Meeting:
the winners of Sparkasse Baden-Baden-Gaggenau's stock exchange business
game, the pupils of the Markgraf-Ludwig High School Baden-Baden and the
Richard-Wagner High School Baden-Baden - as part of its ongoing "Wirtschaft
macht Schule" cooperation - as well as the pupils of the Goethe High School
Gaggenau.

The Board of Directors

Should you have any queries, please contact:

GRENKELEASING AG
Corporate Communications / Investor Relations
Renate Hauss
Neuer Markt 2
76532 Baden-Baden, Germany
Tel.: +49 7221 5007-204
E-mail: investor@grenke.de
Internet: http://www.grenke.de

The GRENKE Group

The GRENKE Group is a broadly diversified provider of IT-based services in
Small-Ticket-IT-Leasing, Factoring and Banking for small and medium-sized
companies. In addition, the GRENKE Bank offers its classic online services
also to private customers.

The GRENKE Group is independent of vendors and banks and holds a leading
market position in Europe in the field of small-ticket IT leasing for
products such as PCs, notebooks, copiers, printers, or software of
relatively low asset value. The GRENKE Group operates in 29 countries and
employs more than 900 staff.

GRENKELEASING AG is listed in the Prime Standard of the Frankfurt Stock
Exchange and is included in the SDAX. GRENKELEASING AG shares are listed in
the SDAX on the Frankfurt Stock Exchange with the code GLJ, ISIN
DE0005865901.

Information on the GRENKE Group and its products is available at
http://www.grenke.de

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2015-05-12 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: GRENKELEASING 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: DE0005865901
WKN: 586590
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich,
Stuttgart

End of News DGAP News-Service

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