AI assistant
Grenke AG — Earnings Release 2014
Apr 23, 2014
189_rns_2014-04-23_a8535149-d281-4543-8c85-05b354e6ef72.html
Earnings Release
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News Details
Corporate | 23 April 2014 07:31
GRENKELEASING AG: GRENKE publishes preliminary financial results for the 1st quarter of 2014 – The groundwork has been laid for a successful financial year
GRENKELEASING AG / Key word(s): Preliminary Results/Quarter Results
23.04.2014 / 07:31
Not for distribution, publication, or dissemination in the USA, Canada, Australia, or Japan, or any other countries in which such a publication may be unlawful.
GRENKE publishes preliminary financial results for the 1st quarter of 2014 – The groundwork has been laid for a successful financial year
Baden-Baden, April 23, 2014: In consideration of the ongoing subscription offer (Scrip Dividend), the Company released its key figures for the first quarter of 2014 on a preliminary basis in advance. The publication of the final results and the financial report for the first quarter of 2014 is still planned for April 29, 2014.
GRENKE expects net interest income of around EUR 36.2 million in the first quarter of 2014 (Q1-2013: EUR 30.8 million) as a result of a continuation of the favourable interest rate environment. Expenses for the settlement of claims and risk provision amounted to approximately EUR 11.8 million (Q1-2013: EUR 10.9 million). Net interest income after settlement of claims and risk provision totalled EUR 24.4 million (Q1-2013: EUR 19.9 million).
According to the preliminary results, the operating result came to EUR 19.4 million (Q1-2013: EUR 16.2 million). In view of the above, GRENKE is currently expecting earnings before taxes for the first quarter of 2014 to amount to EUR 19.3 million (Q1-2013: EUR 16.1 million). Net profit amounts to approximately EUR 14.5 million (Q1-2013: EUR 11.5 million).
At the end of the first quarter of 2014, the equity ratio came to 17.0% after amounting to 16.7% at the end of financial year 2013.
Key figures GRENKE Consolidated Group for the first quarter of 2014 (preliminary) in EUR million
| Q1-2014 | Q1-2013 | Change in % | |
| Net interest income | 36.2 | 30.8 | 17.5 |
| Settlement of claims and risk provision | 11.8 | 10.9 | 8.3 |
| Net interest income after settlement of claims and risk provision | 24.4 | 19.9 | 22.6 |
| Operating result | 19.4 | 16.2 | 19.8 |
| Earnings before taxes | 19.3 | 16.1 | 19.9 |
| Net profit | 14.5 | 11.5 | 26.1 |
The preliminary results for the first quarter of 2014 are ahead of plan and thus our start in financial year 2014 has been very successful. The Board of Directors continues to expect a strong business performance and confirms its forecast for financial year 2014 of a net profit in the range of EUR 52 to EUR 56 million.
All results are preliminary. The full Financial Report for the 1st Quarter 2014 will be published and commented on April 29, 2014 as planned.
Should you have any queries, please contact:
Renate Hauss
Tel.: +49 7221 5007-204
Fax: +49 7221 5007-4218
E-mail: [email protected]
Internet: http://www.grenke.de, http://www.grenkeleasing.de, http://www.grenkebank.de, http://www.grenkefactoring.de
The GRENKE Group
The GRENKE Group is a broadly diversified provider of IT-based services in Small-Ticket-IT-Leasing, Factoring and Banking for small and medium-sized companies. In addition, the GRENKE Bank offers its classic online services also to private customers.
The GRENKE Group is independent of vendors and banks and holds a leading market position in Europe in the field of small-ticket IT leasing for products such as PCs, notebooks, copiers, printers, or software of relatively low asset value. The GRENKE Group operates in 27 countries and employs more than 900 staff.
GRENKELEASING AG is listed in the Prime Standard of the Frankfurt Stock Exchange and is included in the SDAX. GRENKELEASING AG shares are listed in the SDAX on the Frankfurt Stock Exchange with the code GLJ, ISIN DE0005865901.
Information on the GRENKE Group and its products is available at http://www.grenke.de
This document is not for publication or distribution, directly or indirectly, in or into the United States. This document does not constitute or form part of an offer of securities or subscription rights for sale or solicitation of an offer to purchase securities or subscription rights in the United States, Canada, Australia, Japan or in any other jurisdiction where such offer may be restricted. The securities and subscription rights referred to in this document have not been, and will not be, registered under the US Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold in the United States or to or for the account or benefit of US persons (as such term is defined in Regulation S under the Securities Act), except on the basis of an applicable exemption from registration or in a transaction not subject to the registration requirements of the Securities Act. There will be no public offering of securities and subscription rights in the United States or anywhere else, except for Germany.
End of Corporate News
23.04.2014 Dissemination of a Corporate News, transmitted by DGAP – a company of EQS Group AG.
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| Language: | English |
| Company: | GRENKELEASING AG |
| Neuer Markt 2 | |
| 76532 Baden-Baden | |
| Germany | |
| Phone: | +49 (0)7221 50 07-204 |
| Fax: | +49 (0)7221 50 07-4218 |
| E-mail: | [email protected] |
| Internet: | www.grenke.de |
| ISIN: | DE0005865901 |
| WKN: | 586590 |
| Indices: | SDAX |
| Listed: | Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart |
| End of News | DGAP News-Service |
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