Grenke AG — Earnings Release 2002

Aug 13, 2002

News Details

Ad-hoc | 13 August 2002 08:03

Grenke Leasing AG english

GRENKELEASING continues to grow in Q2 Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Baden-Baden, August 13, 2002: GRENKELEASING AG reports profit increase of 19 percent in HY1 2002. GRENKELEASING posts earnings before taxes of EUR 11m in HY1 2002. This corresponds to an increase of 19 percent in contrast to a comparative figure of EUR 9m in the previous year. As already reported in advance, the group’s new business (i.e. the total acquisition costs of newly purchased leased assets) rose by 24 percent in HY 2002. GRENKELEASING reported EUR 67m in new business in Q2 2002 (2001: EUR 52m). The volume of new business in HY1 comes to EUR 132m (EUR 106m in the previous year). The margin of new business (contribution margin1) rose correspondingly. GRENKELEASING’s foreign subsidiaries again achieved superproportional increases. The figure for foreign new business rose by 41 percent and thus represents a contribution of 26 percent to the group’s overall new business. On the other hand, domestic business also showed a strong growth rate of 20 percent in HY1. The earnings situation has continued to develop favourably. After-tax profits increased by 19 percent to EUR 6.7 m (comparative value in the first six months of 2001: EUR 5.6m). DVFA earnings per share rose from EUR 0.41 to EUR 0.49. The full half-year report for 2002 is available under www.grenkeleasing.de Investor Relations – Figures. The Board of Management 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 – http://www.grenkeleasing.de end of ad-hoc-announcement (c)DGAP 13.08.2002 Issuer’s information/explanatory remarks concerning this ad-hoc-announcement: “The HY1 result confirms the growth potential of GRENKELEASING. We are confident we will achieve our new business growth target of distinctly above 20 percent for the full year”, explained Wolfgang Grenke, Chairman of the Board of GRENKELEASING AG. It is particularly pleasing that the growth experienced is purely organic in nature. The company’s expansion is running according to plan and the opening up of a branch office in Nantes will give GRENKELEASING its fourth branch office in France. This increases the number of its foreign branch offices to a total of ten. GRENKELEASING first drew up consolidated financial statements which are directly compliant with the IAS rules for the financial year 2001. The comparative values of the previous year were reconciled with the latter in the present half- year report for 2002 in order to allow a due and proper comparison with the values of the reporting year 2001. The group recorded 38,345 leasing enquiries in HY1 2002, leading to the generation of 18,468 leasing contracts. The average value per concluded contract came to EUR 7,134 and is thus slightly higher than in the previous year. The number of employees rose from 216 (HY1 2001) to 260 (HY1 2002) – weighted average on a full-time basis. GRENKELEASING presently maintains 18 domestic branch offices. Its successful foreign business – it presently has nine foreign branch offices, with three 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.com ——————————————————————————– WKN: 586590; ISIN: DE0005865901; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 130803 Aug 02