Grenke AG — Earnings Release 2002

Oct 2, 2002

News Details

Ad-hoc | 2 October 2002 07:52

Grenke Leasing AG english

GRENKELEASING AG reports growth in new business of 23 per cent in Q3 Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– GRENKELEASING AG reports growth in new business of 23 per cent in Q3 Baden-Baden, October 2, 2002: GRENKELEASING reports EUR 68m in new business in Q3 2002. The volume of new business in the first nine months of 2002 came to EUR 200m (first nine months of 2001: EUR 162m). The margin of new business (contribution margin 1) rose to EUR 20m (first nine months of 2001: EUR 16m). GRENKELEASING closed the first nine months of 2002 with earnings totalling EUR 200m (compared to EUR 162m in the previous year) in new business – i.e. the total acquisition costs of newly purchased leased assets. Its new business thus rose by 23 per cent. The margin of new business (contribution margin1), from which the financial result over the life of a contract is derived and which is thus a key indicator of profitability, grew analogously. GRENKELEASING’s foreign subsidiaries again achieved superproportional increases. The figure for foreign new business rose by 41 per cent and thus represents a contribution of 26 per cent to the group’s overall new business. On the other hand, domestic business also showed a strong growth rate of 19 per cent in the first nine months. The company will publish its detailed nine months report on November 12, 2002. The Executive Board If you have any queries, please contact: GRENKELEASING AG, Neuer Markt 2, 76532 Baden-Baden Renate Hauss Tel: +49-(0)-7221-5007-204 E-mail: investor@grenkeleasing.de Internet: http://www.grenkeleasing.de end of ad-hoc-announcement (c)DGAP 02.10.2002 Issuer’s information/explanatory remarks concerning this ad-hoc-announcement: “The figures in new business we achieved in the first nine months of 2002 have confirmed our annual planning which forecasts a distinct rise in new business of over 20 per cent in 2002”, explains Wolfgang Grenke, Chairman of the Executive Board of GRENKELEASING AG. He went on to say it was pleasing to see the company so far remain buoyant in what was a negative environment and that the trend towards leasing could be expected to continue. GRENKELEASING AG reports a change in its management structure. The supervisory board has extended the terms of office of the executive board members Wolfgang Grenke (CEO), Thomas Konprecht (COO/Deputy Chairman), Mark Kindermann (CFO), Michael Kostrewa (CIO) by a period of five years. Wolfgang Grenke retains his position as chairman and speaker of the executive board. The executive board members Peter Merkel and Ray Werschky now sit on the GRENKELEASING AG management board. This level of management is responsible for the operational management of the company whereas the executive board focuses on the strategic orientation and direction of the company. The group recorded 58,492 leasing enquiries in the first nine months of 2002, leading to the generation of 28,184 leasing contracts. The average value per concluded contract came to EUR 7,100 and is thus slightly higher than the previous year. GRENKELEASING presently maintains 18 domestic branch offices. Its successful foreign business – it presently has ten foreign branch offices, with four branch offices in France, and a respective subsidiary in Switzerland, Austria, Italy, the Czech Republic, Spain, and the Netherlands – is to be further expanded. In this respect the company can also fall back upon the services of its Internet subsidiary WEBLEASE NETBUSINESS AG, which now supports the Internet offering of GRENKELEASING in seven countries. 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 listed on the Neuer Markt (market segment for high-growth companies at the Frankfurt Stock Exchange). Information on the company and its products is available on the Internet under http://www.grenkeleasing.de ——————————————————————————– WKN: 586590; ISIN: DE0005865901; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 020752 Okt 02