Grenke AG — Earnings Release 2004

Apr 2, 2004

News Details

Ad-hoc | 2 April 2004 08:10

GRENKELEASING – 16 per cent Growth in New Business – Cooperation with T-Com

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– GRENKELEASING – 16 per cent Growth in New Business – Cooperation with T-Com Baden-Baden, April 2, 2004: GRENKELEASING reports new business of EUR 88m in Q1 2004 GRENKELEASING closed the first quarter of 2004 with earnings in new business – i.e. the total acquisition costs of newly purchased leased assets – of EUR 88m (previous year EUR 75m). New business thus grew by 16 per cent year-on-year. 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 profitability indicator, grew superproportionally in Q1 2004 to a level of EUR 10.0m against last year’s comparable of EUR 7.9m. This represents a 26 per cent increase. Foreign new business grew superproportionally by 21 per cent. Especially France rallied considerably, showing a 29 percent increase. GRENKELEASING’s foreign subsidiaries made a 25 per cent contribution to the group’s new business. Its domestic business grew by 15 per cent. GRENKELEASING AG and T-Com, the fixed-line network of Deutsche Telecom, have concluded an agreement on lease financing of ITC solutions such as T-Com’s IT business solutions. T-Com offers its business customers business solutions comprised of ITC components supplemented by offers such as T-DSL and services such as Online Backup and Personal Security. The aim is to provide an integrated “one-stop” solution for optimal and efficient ITC equipment. T-Com customers can pay the financing and service costs by paying a monthly “usage fee per workplace” in one lump sum. The cooperation lies in the fact that GRENKELEASING offers the infrastructure components via leasing. In addition to this, T-Com customers gain access to all leasing products within the GRENKELEASING product portfolio. This includes IT asset management which enables efficient IT controlling. The company will publish its detailed three months report for 2004 on May 13, 2004. The Executive Board Should you have any queries, please contact: GRENKELEASING AG, Neuer Markt 2, 76532 Baden-Baden Renate Hauss Tel: + 49 (0) 7221/5007-204; Fax: +49 (0) 7221/5007-112 E-mail: investor@grenkeleasing.de Internet: http://www.grenkeleasing.de end of ad-hoc-announcement (c)DGAP 02.04.2004 Issuer’s information/explanatory remarks concerning this ad-hoc-announcement: “Our growth in new business is higher than expected and we therefore hold fast to our full-year target of achieving double-digit growth in 2004”, explains Wolfgang Grenke, Chairman of the Executive Board of GRENKELEASING AG. “We see our cooperation with T-Com as a further important step towards successfully boosting our telecommunications business. Not only our corporation partner but also its customers will benefit from our flexible offers: as a modern financing instrument, leasing, with its flexible contractual arrangements, meets the requirements of T-Com’s customers particularly well.” The group recorded 26,861 leasing enquiries in Q1 2004, leading to the generation of 13,039 new leasing contracts. The average value per concluded contract came to EUR 6,721 and is thus slightly lower than in the previous year (Q1 2003 = EUR 7,030). The company now has operations in 13 European countries. GRENKELEASING is represented in 20 cities throughout Germany. Its Stockholm subsidiary started up in January of this year. In addition to its four French branch offices, the company has one subsidiary each in Switzerland, Austria, Italy, the Czech Republic, Spain, the Netherlands, Denmark, Great Britain, and Poland. GRENKELEASING is also due to start up the operative side of its business in Ireland shortly, having already set up two financing subsidiaries there. In the UK and Poland GRENKELEASING is using a franchise system to limit the costs during the start-up phase and nevertheless achieve a high degree of identification with the strategic targets of the group among the newly employed workers who are located there. This means that GRENKELEASING AG does not have a direct stake in the locally operating company and instead provides the know-how, the operating infrastructures, and services within the scope of a franchise agreement. 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 EUR25,000. GRENKELEASING AG is listed in the Prime Standard segment of the German stock exchange in Frankfurt and on the SDAX (small-cap) index. Information on the company and its products is available on the Internet under http://www.grenkeleasing.de . ——————————————————————————– WKN: 586590; ISIN: DE0005865901; Index: SDAX Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 020810 Apr 04