Brief: Grenke Generated New Business Volume Of EUR 2.6 Bln for 2023

Grenke AG

04/01/2024 06:07

Jan 4 (Reuters) - GRENKE AG  GLJn.DE :
    * CONTINUES ITS PROFITABLE GROWTH PATH:  EUR 2.6 BILLION IN
NEW
LEASING BUSINESS IN 2023
    * NEW LEASING BUSINESS IN 2023 SURPASSES PREVIOUS YEAR'S
LEVEL BY
12.3 % (2022: EUR 2.3 BILLION) AND REACHES LOWER END OF 2023
FORECAST
    * CM2 INCREASES BY 15.3 % TO EUR 426.3 MILLION (2022: EUR
369.6
MILLION)
    * CM2 MARGIN RISES TO 16.5 % (2022: 16.1 %)
    * CONTINUED ON ITS DOUBLE-DIGIT GROWTH PATH. AT EUR 729.7
MILLION,
NEW LEASING BUSINESS IN Q4 OF 2023 WAS 12.8 % HIGHER
YEAR-ON-YEAR (Q4 2022: EUR 647.0 MILLION)
    * GRENKE GENERATED NEW BUSINESS VOLUME OF EUR 2.6 BILLION
FOR 2023
AS A WHOLE
    * FOR 2023 FINANCIAL YEAR, BOARD OF DIRECTORS HAD LAST
ASSUMED NEW
LEASING BUSINESS IN LOWER HALF OF GUIDANCE CORRIDOR OF EUR 2.6
TO 2.8 BILLION
    * AT EUR 201.5 MILLION (Q4 2022: EUR 176.1 MILLION) AND A
SHARE OF
27.6 % OF NEW LEASING BUSINESS, WESTERN EUROPE (EXCLUDING DACH)
WAS STRONGEST REGION FOR GRENKE
    * AT AROUND 577,000, TOTAL NUMBER OF LEASE APPLICATIONS IN
2023
WAS SHARPLY HIGHER THAN IN PREVIOUS YEAR (2022: AROUND 530,000)
    * IN Q4 OF 2023, GRENKE RECEIVED AROUND 146,000 LEASE
APPLICATIONS
(Q4 2022: AROUND 135,000)
    * CONTRIBUTION MARGIN 2 IN Q4 OF 2023 REACHED EUR 117.2
MILLION,
REPRESENTING A YEAR-ON-YEAR INCREASE OF 16.6 % (Q4 2022: EUR
100.5 MILLION)
    * FOR 2023 FINANCIAL YEAR, GRENKE ACHIEVED AN INCREASE IN
CM2 OF
15.3 % TO EUR 426.3 MILLION (2022: EUR 369.6 MILLION)

Source text for Eikon:  ID:nEQ8WJdd0a 
Further company coverage:  GLJn.DE 

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