Grenke AG — Earnings Release 2001

Aug 14, 2001

News Details

Ad-hoc | 14 August 2001 08:10

Grenke Leasing AG english

Ad hoc announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Baden-Baden, August 14, 2001: GRENKELEASING AG reports profit increase of 49% in HY1 2001. GRENKELEASING AG, Germany’s market leader in the field of small-ticket IT leasing, posts pre-tax earnings of EUR 7.8m for HY1 2001. This corresponds to an increase of 35% compared to a figure of EUR 5.8m for the same period of the previous year. As already reported beforehand, the group’s new business (i.e. the total acquisition costs of newly purchased leased assets) rose by 32.1% in HY1 2001 compared to the same period of the previous year, reaching a figure of EUR 106m . Our foreign subsidiaries made a superproportional contribution to this trend – their contribution to the group’s new business rose to 22.5%. At the same time the margin of new business (contribution margin 1) grew by 86.9% in HY1 2001. The margin determines the financial result over the life of a contract – in the reporting period it amounts to EUR 11.3m, compared to a figure of EUR 6.1m over the same period of the previous year. The earnings situation has continued to develop on track. After-tax profit jumped by 49% to EUR 6.2m (compared to EUR 4.2m in HY1 2000). DVFA earnings per share rose from EUR 0.27 to EUR 0.46. The Board of Management If you have any queries, please contact: GRENKELEASING AG, Rheinstrasse 219, 76532 Baden-Baden Renate Hauss Tel: 07221/5007-204 Email: investor@grenke.de Internet: http://www.grenkeleasing.de end of ad hoc announcement (c) DGAP 14.08.2001 Issuer’s information/explanatory remarks concerning this ad hoc announcement: “We resolutely pursued our long-term strategic objective of attaining European market leadership in our market segment over the reporting period. The opening up of a branch office in Erfurt increased our presence at national level to a total of 15 branch offices. At the same time our complete takeover of the Czech small-ticket leasing specialist EKOMA s.r.o. marked our successful entry into the Eastern European market, thus further expanding our European market position,” declares Wolfgang Grenke, GRENKELEASING AG’s Chairman of the Board. GRENKELEASING AG has foreign subsidiaries in France, Switzerland, Austria, Italy, and the Czech Republic. The number of employees rose – particularly also due to the acquisitions made – from 171 to 216 (expressed as a weighted average on a full-time basis). As a confidence-building measure Deutsche Börse AG has amended the publication rules for companies listed on the Neuer Markt as per HY2 2001. In keeping with the recommendations made by Deutsche Börse AG, GRENKELEASING AG is already publishing its half-year report in the new format. In doing so it has chosen the presentation format applicable to banks since, pursuant to the rules of the IAS (International Accounting Standards), it is seen as a finance company. The full half-year report 2001 can be called up under www.grenkeleasing.de Investor – IR-Service. ——————————————————————————– WKN: 586590; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 140810 Aug 01