Brief: Grenke Q1 Net Profit Up At EUR 20.5 Mln

Grenke AG

12/05/2022 06:10

May 12 (Reuters) - GRENKE AG  GLJn.DE :
    * RAISES NET PROFIT TO EUR 20.5 MILLION IN THE FIRST QUARTER
OF
2022
    * Q1 NET PROFIT ROSE 46.8 PERCENT TO 20.5 MILLION EUR
    * NET PROFIT IN Q1 OF 2022 INCREASES BY 46.8% YEAR-ON-YEAR
TO EUR
20.5 MILLION (Q1 2021: EUR 14.0 MILLION)
    * Q1 EXPENSES FOR SETTLEMENT OF CLAIMS AND RISK PROVISION
IMPROVE
TO EUR 31.6 MILLION (Q1 2021: EUR 44.6 MILLION)
    * Q1 LOSS RATE OF 1.4% IS AT LOWER END OF GUIDANCE RANGE
(1.4 -
1.7%)
    * OUTLOOK 2022: NEW LEASING BUSINESS OF BETWEEN EUR 2.0
BILLION
AND EUR 2.2 BILLION
    * IN MEDIUM TERM, BOARD OF DIRECTORS EXPECTS NEW LEASING
BUSINESS
TO DOUBLE BY 2024, COMPARED TO NEW LEASING BUSINESS OF EUR 1.7
BILLION IN 2021
    * OUTLOOK 2022: NET PROFIT IN RANGE OF EUR 75 MILLION TO EUR
85
MILLION
    * FY 2024 OUTLOOK: NET PROFIT TO DOUBLE COMPARED TO 2021
LEVEL OF
EUR 72.2 MILLION (EXCLUDING INCOME FROM SALE OF VIAFINTECH
INVESTMENT)

Source text for Eikon:  ID:nEQ3nvw4Ga 
Further company coverage:  GLJn.DE 

 (Gdansk Newsroom)
 ((Gdansk.newsroom@thomsonreuters.com; +48 58 7696600;))