Grenke AG — Earnings Release 2000

Feb 22, 2001

News Details

Ad-hoc | 22 February 2001 08:42

Ad hoc-Service: Grenke Leasing AG english

Ad-hoc announcement sent by DGAP. The sender is solely responsible for the contents of this announcement. ——————————————————————————– Baden-Baden, 22-2-2001: GRENKELEASING AG posts Record Result for the Financial Year 2000 GRENKELEASING AG, Germany’s market leader in the field of small-ticket IT leasing, posts after-tax earnings of EUR 9.6m for FY 2000 as per December 31, 2000. This corresponds to an increase of 146% compared to the same period of the previous year (1999: EUR 3.9m). In this connection GRENKELEASING also especially profited from the tax reform. The reduction in the tax rate from previously 50% to 38.5% allowed a revaluation of deferred taxes. Earnings before taxes (EBT) grew by 53% compared to the previous year, reaching a figure of EUR 12.3m (1999: EUR 8.0m). The profit per share according to the DVFA (German Society of Capital Market Experts) amounts to EUR 0.71 and thus lies 34% above the average value of published analyst forecasts (EUR 0.53). New business, i.e. the total acquisition costs of new leasing contracts, rose by 57.9% to a figure of EUR 178.2m, compared to EUR 112.9m in 1999. Earnings generated by new business largely accrue during the term of the leasing contracts over a period of approx. three years following conclusion of the new business. The Board of Management end of Ad hoc-announcement, (c) DGAP 22.02.2001 Issuer’s information/explanation remarks concerning this ad hoc announcement: The board of management of GRENKELEASING AG is very happy with the course of business which transpired in the past financial year. “GRENKELEASING was able to exceed all planned economic and strategic targets”, states Wolfgang Grenke, chairman of the board of GRENKELEASING AG. “We are sure that we will be able to continue our growth into the financial year 2001 and have thus come another step closer to our aim of achieving European market leadership in the field of small-ticket IT leasing.” GRENKELEASING AG presently maintains 14 domestic branch offices as well as four foreign branch offices in France, Switzerland, and Austria. Its subsidiary Mauden SpA will take up activities in Milan at the beginning of March of this year. The financial year 2000 saw the conclusion of new cooperations with Sharp, eCredit, and i-clear. Existing cooperations with Hewlett Packard, Microsoft, Gateway, and Vobis were also successfully expanded. The number of employees rose from 128 to 154. The full annual statement of accounts 2000 can be called up under www.grenkeleasing.de – Investor IR-Service. Contact Details: GRENKELEASING AG, Rheinstrasse 219, 76532 Baden-Baden Renate Hauss Phone: +49 (0) 7221-5007-204 Email: investor@grenke.de ———————————————————————– WKN: 586590; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 220842 Feb 01