Grenke AG — M&A Activity 2001

Jun 8, 2001

News Details

Ad-hoc | 8 June 2001 08:16

Grenke Leasing AG english

Ad hoc announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Baden-Baden, June 8, 2001 GRENKELEASING AG takes over EKOMA s.r.o., Prague – Expansion into the Czech Market and further Internationalisation. The complete takeover of EKOMA s.r.o., Prague, enables GRENKELEASING to further expand its position as the market leader in the field of small-ticket IT leasing. In the year 2000 EKOMA generated new business amounting to CSK 78.5m (= EUR 2,306,000) in the field of small-ticket leasing – largely in B2B business – and achieved an after-tax profit figure of CSK 2.6m (= EUR 76,000). The leasing company, founded in 1992, focuses on small-ticket leasing. The previous management remains at the helm of the company and is bolstered by the addition of a member of GRENKELEASING’s management team. The new subsidiary is to immediately implement the successful Grenke business model in the Czech market. EKOMA already enjoys long-standing relations with renowned manufacturers and dealers. The purchase price comes to CSK 52,24m (= EUR 1,534,000). GRENKELEASING anticipates that the volume of new small-ticket IT leasing business in the Czech Republic will reach CSK 95m (= EUR 2,791,000) in 2001. GRENKELEASING thus comes a step closer to achieving its strategic aim of assuming European market leadership in the field of small-ticket IT leasing. So far the company is represented in Germany, France, Austria, Switzerland, Italy, and the Netherlands (cross-border contracts). The Board of Management If you have any queries, please contact: GRENKELEASING AG, Rheinstrasse 219, 76532 Baden-Baden Renate Hauss Tel: 07221/5007-204 E-mail: investor@grenke.de Internet: http://www.grenkeleasing.de end of ad hoc announcement (c) DGAP 08.06.2001 Issuer’s information/explanatory remarks concerning this ad hoc announcement: According to the Association of leasing companies of the Czech Republic the leasing trade in the Czech Republic continued to grow. Czech leasing market occupies the leading position among post-communist countries in Central and Eastern Europe, as regards both the volume of leased assets and the quality of leasing services offered. In most aspects, including the commodity and client structure, the situation in the Czech Republic complies with European trends. The number of new leasing contracts and their size increased in 2000. Last year, companies with their headquarters in the Czech Republic provided with capital goods to a value in excess of CSK 85bn under leasing contracts (sum of purchase prices excl. VAT), constituting an increase of 13 per cent in comparison with 1999. GRENKELEASING AG is Germany’s nationwide market leader in small-ticket IT leasing, for products such as PC’s, notebooks, copiers, printers, or software up to an acquisition value of EUR 25,000. GRENKELEASING generated new business (i.e. the total acquisition costs of new leasing contracts) amounting to EUR 178.2m in the fiscal year 2000. The company, which has its headquarters in Baden-Baden, has 15 branch offices throughout Germany. It has a workforce of 171 employees (as a weighted full-time average). Since April 4 2000 the company has been quoted on the Neuer Markt (market segment for high-growth companies) of the Frankfurt securities exchange and is thus the first leasing company in this segment of the exchange. Information on the company and its products are available on the Internet under http://www.grenkeleasing.de. ——————————————————————————– WKN: 586590; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 080816 Jun 01