Brief: Grenke Revises Market Expectations And Outlook For 2024

Grenke AG

09/08/2023 17:11

Aug 9 (Reuters) - GRENKE AG  GLJn.DE :
    * REVISES MARKET EXPECTATIONS AND OUTLOOK FOR 2024
    * RENKE AG'S BOARD OF DIRECTORS TODAY REVISED ITS OUTLOOK
FOR 2024
FINANCIAL YEAR, BRINGING IT IN LINE WITH MARKET ENVIRONMENT
    * NEW OUTLOOK FOR NEW LEASING BUSINESS CORRESPONDS TO
DOUBLE-DIGIT
GROWTH OF 11 % TO 19 % COMPARED TO FORECAST MIDPOINT FOR CURRENT
FINANCIAL YEAR OF AROUND EUR 2.7 BILLION.
    * BOARD OF DIRECTORS IS NOW TARGETING NEW LEASING BUSINESS
OF EUR
3.0 BILLION TO EUR 3.2 BILLION IN 2024, INSTEAD OF PREVIOUS
FIGURE OF AROUND EUR 3.4 BILLION.
    * NEW OUTLOOK FOR NEW LEASING BUSINESS CORRESPONDS TO
DOUBLE-DIGIT
GROWTH OF 11 % TO 19 % COMPARED TO FORECAST MIDPOINT FOR CURRENT
FINANCIAL YEAR OF AROUND EUR 2.7 BILLION
    * BOARD OF DIRECTORS IS THEREFORE ASSUMING A RANGE FOR
CONSOLIDATED GROUP NET PROFIT IN 2024 FINANCIAL YEAR OF EUR 95
MILLION TO EUR 115 MILLION (PREVIOUS FORECAST RANGE: AROUND EUR
120 MILLION).
    * FORECAST FOR CURRENT 2023 FINANCIAL YEAR REMAINS UNCHANGED

Source text for Eikon:  ID:nEQ4ZJL6sa 
Further company coverage:  GLJn.DE 

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