Brief: Grenke Preliminary FY Consolidated Group Net Profit At EUR 84.2 Mln

Grenke AG

02/03/2023 16:14

March 2 (Reuters) - GRENKE AG  GLJn.DE :
    * GRENKE INVESTS IN EXPANDING DIGITALISATION, PRESENTS
PRELIMINARY
RESULTS FOR 2022 FINANCIAL YEAR AND PUBLISHES OUTLOOK FOR 2023
    * GRENKE INVESTS IN EXPANDING DIGITALISATION, PRESENTS
PRELIMINARY
RESULTS FOR 2022 FINANCIAL YEAR AND PUBLISHES OUTLOOK FOR 2023
    * NEW DIGITALISATION PROGRAMME "DIGITAL EXCELLENCE" INCLUDES
ADDITIONAL INVESTMENTS OF EUR 45 TO 50 MILLION OVER NEXT THREE
YEARS
    * END-TO-END DIGITALISATION IN CORE LEASING BUSINESS TURNING
INTO
A DRIVER FOR SPEED, EFFICIENCY AND GROWTH
    * PRELIMINARY FIGURES 2022: CONSOLIDATED GROUP NET PROFIT AT
UPPER
END OF GUIDANCE RANGE AT EUR 84.2 MILLION (2021: EUR 95.2
MILLION OR EUR 72.2 MILLION EXCLUDING GAIN FROM SALE OF
VIAFINTECH)
    * OUTLOOK 2023: NEW LEASING BUSINESS BETWEEN EUR 2.6 BILLION
AND
EUR 2.8 BILLION; CONSOLIDATED GROUP NET PROFIT BETWEEN EUR 80
MILLION AND EUR 90 MILLION, INCLUDING FIRST INVESTMENT TRANCHE
OF EUR 15 MILLION
    * FY CONSOLIDATED GROUP NET PROFIT AMOUNTED TO EUR 84.2
MILLION
(2021: EUR 95.2 MILLION)
    * AND WAS AT UPPER END OF GUIDANCE RANGE OF EUR 75 MILLION
TO EUR
85 MILLION
    * BOARD OF DIRECTORS AND SUPERVISORY BOARD WILL PROPOSE A
DIVIDEND
OF EUR 0.45 PER SHARE FOR 2022 FINANCIAL YEAR (2021: EUR 0.51)
    * THIS WOULD CORRESPOND TO A PAYOUT RATIO OF 25 PERCENT,
WHICH
WOULD BE IN LINE WITH CONSOLIDATED GROUP'S DIVIDEND POLICY
    * FOR 2024 FINANCIAL YEAR, BOARD OF DIRECTORS CONTINUES TO
EXPECT
NEW LEASING BUSINESS OF EUR 3.4 BILLION
    * CONSOLIDATED GROUP PROFIT IN 2024 IS ANTICIPATED TO REACH
APPROXIMATELY EUR 120 MILLION, INSTEAD OF EUR 140 MILLION AS
PREVIOUSLY FORECAST
    * FY EARNINGS BEFORE TAXES AT EUR 111 MILLION

Source text for Eikon:  ID:nEQ58FtpNa 
Further company coverage:  GLJn.DE 

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