Grenke AG — Earnings Release 2001

Jul 3, 2001

News Details

Ad-hoc | 3 July 2001 08:19

Grenke Leasing AG english

Ad hoc announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Baden-Baden, July 3, 2001: Margin of new business improves (contribution margin 1) by 86.9 % in HY1 2001 compared to previous year. New business simultaneously grows by 32.1 % compared to the same period of the previous year. GRENKELEASING AG, the market leader for small-ticket IT leasing in Germany, posted a superproportional growth in the margin of its new business in HY1 2001. The margin of newly concluded contracts (contribution margin 1), from which stems the net interest income over the life of a contract, grew by 86.9%. New business – i.e. the total acquisition costs of newly purchased leased assets – rose by 32.1% to EUR 106m (HY1 2000: EUR 80.3m). According to the company, the improvement in its margin is attributable to three factors. For one thing, the company’s refinancing conditions have distinctly improved since its IPO a year ago. In addition to this, the average amount per newly concluded contract has fallen from EUR 6,400 to 5,900 – the market allows a higher margin in the case of smaller acquisition values. And lastly, in mid- 2000 the standard market leasing conditions rose due to the preceding general interest-rate increases. GRENKELEASING’s foreign subsidiaries contributed more than averagely to the company’s performance. New business abroad tripled within a year. The contribution to group new business thus rose to 22.5%. The contracts on hand of the recently acquired company EKOMA, Prague, were consolidated at a book value of EUR 2.4m. The company, which has now been listed on the Neuer Markt (Deutsche Boerse AG’s market segment for high-growth companies) since April 4, 2000, will publish its detailed half year statements on August 14, 2001. The Board of Management GRENKELEASING AG, Rheinstrasse 219, 76532 Baden-Baden Renate Hauss Tel: 07221/5007-204 Fax: 07221/5007-203 Email: investor@grenke.de Internet: http://www.grenkeleasing.de end of ad hoc announcement (c) DGAP 03.07.2001 Issuer’s information/explanatory remarks concerning this ad hoc announcement: A detailed explanation of the growth in new business and contribution margin 1 together with a diagram is available under www.grenkeleasing.de. The management team continues to be confident and optimistic about the future of the company. GRENKELEASING received 48.2% more leasing inquiries in HY1 of the current financial year than in HY1 2000. 18,032 new leasing contracts were concluded as a result (+42.8%), generating a volume of new business of EUR 106m. GRENKELEASING maintains 15 domestic branches as well as 6 foreign branches, two of these being located in France and one each being located in Switzerland, Austria, Italy, and the Czech Republic. GRENKELEASING AG is Germany’s nationwide market leader in small-ticket IT leasing, i.e. for products such as PC’s, notebooks, copiers, printers, or software up to an acquisition value of EUR 25,000. Since April 4, 2000 the company has been quoted on the Neuer Markt (market segment for high-growth companies) of the Frankfurt securities exchange and is thus the first leasing company in this segment of the exchange. Information on the company and its products are available on the Internet under http://www.grenkeleasing.de ——————————————————————————– WKN: 586590; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 030819 Jul 01