Brief: Grenke BOD Expects FY Net Profit In Upper Half Of Guidance
21/11/2023 15:18
Nov 21 (Reuters) - GRENKE AG GLJn.DE :
* CEO DR SEBASTIAN HIRSCH AFTER ONE YEAR IN OFFICE:
“SUCCESSFUL
REALIGNMENT”
* SHARE BUYBACK PROGRAMME INTENDED
* TAKING THIS INTO ACCOUNT, GRENKE WILL SUBMIT NECESSARY
APPLICATION TO GERMAN FEDERAL FINANCIAL SUPERVISORY AUTHORITY
(BAFIN) TODAY TO RECEIVE REGULATORY APPROVAL FOR A SHARE BUYBACK
PROGRAMME
* FOR 2024, HIRSCH EXPECTS A STABLE CM2 MARGIN OF AROUND 17
PERCENT AND AN INCREASE IN CONSOLIDATED GROUP NET PROFIT TO A
RANGE OF EUR 95 MILLION TO EUR 115 MILLION
* FOR CURRENT FINANCIAL YEAR, BOARD OF DIRECTORS EXPECTS A
NET
PROFIT IN UPPER HALF OF GUIDANCE RANGE OF EUR 84 TO 90 MILLION
Source text for Eikon: ID:nEQ5Tpnd2a
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