Grenke AG — Earnings Release 2002

Jul 2, 2002

News Details

Ad-hoc | 2 July 2002 08:36

Grenke Leasing AG english

GRENKELEASING AG reports growth in new business of 27 percent in Q2. Ad-hoc-announcement processed and transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– GRENKELEASING AG reports growth in new business of 27 percent in Q2. Baden-Baden, July 2, 2002: GRENKELEASING reports EUR 67m in new business in Q2 2002 (2001: EUR 52m). The volume of new business in HY1 comes to EUR 132m. The margin of new business (contribution margin 1) in the first six months rose by 25 percent compared to the previous year. GRENKELEASING closed the first half of 2002 with earnings totalling EUR 132m (compared to EUR 106m in the previous year) in new business – i.e. the total acquisition costs of newly purchased leased assets. Its new business thus rose by 24 percent. The margin of new business (contribution margin 1), from which stems the financial result over the life of a contract and which is thus a measure of profitability, also grew by 25 percent compared to the previous year. 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 in HY 1 of 20 percent. The company will publish its detailed six months report on August 13, 2002. The Board of Management If you have any queries, please contact: GRENKELEASING AG, Neuer Markt 2, 76532 Baden-Baden Renate Hauss Tel: 07221/5007-204 E-mail: investor@grenkeleasing.de Internet: http://www.grenkeleasing.de end of ad-hoc-announcement (c)DGAP 02.07.2002 Issuer’s information/explanatory remarks concerning this ad-hoc-announcement: “Our forecast of new business rising distinctly above 20 percent in 2002 is corroborated by our HY1 figures”, explains Wolfgang Grenke, Chairman of the Board of GRENKELEASING AG. He added that it was also pleasing to see the company continue to successfully expand its presence in the European market while further increasing its market share in its German domestic market. This, he stated, was wholly due to organic growth. Mr Grenke was also upbeat about the future: “We will additionally benefit from a recovery of the IT sector. The limitations imposed on the banking and credit industry by Basle II provide bank-independent specialists such as GRENKELEASING with additional opportunities.” Despite the lack of any underlying company-specific reasons, GRENKELEASING had been unable to escape the stock market developments seen over the last few weeks. 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 the previous year. 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.de. ——————————————————————————– WKN: 586590; ISIN: DE0005865901; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 020836 Jul 02