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Grenke AG
Earnings Release • Jul 28, 2021
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Earnings Release
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News Details
Ad-hoc | 28 July 2021 10:23
GRENKE AG: GRENKE AG raises profit forecast for 2021
GRENKE AG / Key word(s): Change in Forecast
GRENKE AG: GRENKE AG raises profit forecast for 2021
28-Jul-2021 / 10:23 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
GRENKE AG raises profit forecast for 2021
Baden-Baden, July 28, 2021: GRENKE AG, a global financing partner for small and medium-sized enterprises, is raising its profit forecast for 2021. The Board of Directors now expects a Consolidated Group net profit after taxes of between EUR 60 million and EUR 80 million, compared to the previous forecast of EUR 50 million to EUR 70 million published with the publication of the 2020 Annual Report. According to preliminary figures, Consolidated Group net profit reached EUR 32 million in the first six months
(1H 2020: EUR 33.2 million).
Based on the preliminary half-year figures for 2021, the need for risk provisioning ended up decreasing. Due to the high level of uncertainty resulting from the pandemic, the Board of Directors had previously projected a higher level of risk provisioning. The main reason for the change in the assessment is the continued stable payment behaviour of customers. The Board of Directors of GRENKE AG expects this to continue in the second half of 2021. The target range for net profit in the current fiscal year was raised as a result.
For further information, please contact:
| GRENKE AG Anke Linnartz Director Investor Relations Neuer Markt 2 76532 Baden-Baden Phone: +49 7221 5007-204 Email: [email protected] Website: www.grenke.de |
Information and Explanation of the Issuer to this News:
About GRENKE
The GRENKE Group (GRENKE) is a global financing partner for small and medium-sized companies. As a one-stop shop for customers, GRENKE’s products range from flexible small-ticket leasing and demand-driven bank products to convenient factoring. Fast and easy processing and personal contact with customers and partners are at the centre of GRENKE’s activities.
Founded in 1978 in Baden-Baden, the Group operates in 33 countries and employs more than 1,800 staff (full-time equivalents) worldwide. GRENKE shares are listed in the SDAX on the Frankfurt Stock Exchange (ISIN DE000A161N30).
28-Jul-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
| Language: | English |
| Company: | GRENKE 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: | DE000A161N30 |
| WKN: | A161N3 |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1222218 |
| End of Announcement | DGAP News Service |