Brief: Grenke To Propose Dividend Of EUR 0.47 Per Share

Grenke AG

07/03/2024 06:08

March 7 (Reuters) - GRENKE AG  GLJn.DE :
    * GRENKE ACHIEVES UPPER HALF OF 2023 PROFIT FORECAST –  NEW
LEASING BUSINESS OF OVER EUR 3 BILLION TARGETED FOR 2024
    * FY CONSOLIDATED GROUP NET PROFIT REACHES EUR 86.7 MILLION
(2022:
EUR 84.2 MILLION)
    * PROPOSED DIVIDEND OF EUR 0.47 PER SHARE (2022: EUR 0.45)
    * FORECAST FOR 2024 CONFIRMED: NEW LEASING BUSINESS IN RANGE
OF
EUR 3.0 TO 3.2 BILLION AND CONSOLIDATED GROUP NET PROFIT OF EUR
95 TO 115 MILLION EXPECTED
    * IS AIMING FOR A SLIGHT INCREASE IN CM2 MARGIN IN 2024
COMPARED
TO PREVIOUS YEAR
    * GRENKE AG SAYS IN MEDIUM TERM, INTENTION IS TO ACHIEVE A
CM2
MARGIN OF AROUND 17 PERCENT
    * FORECAST RANGE FOR NET PROFIT IN 2024 FINANCIAL YEAR IS
BASED ON
ASSUMPTION THAT LOSS RATE WILL REMAIN BELOW 1.5 PERCENT
    * IS AIMING FOR A CIR OF UNDER 58 PERCENT IN 2024
    * CONTINUES TO EXPECT EQUITY RATIO TO BE ABOVE 16 PERCENT
    * AT END OF FINANCIAL YEAR, GRENKE HAD OVER 1 MILLION ACTIVE
LEASE
CONTRACTS TOTALLING A VOLUME OF EUR 9.4 BILLION
    * LOSS RATE WAS 1.0 PERCENT IN 2023 FINANCIAL YEAR
    * AS OF DECEMBER 31, 2023 REPORTING DATE, LIQUIDITY POSITION
TOTALLED EUR 697.2 MILLION
    * AS OF DECEMBER 31, 2023 REPORTING DATE, EQUITY RATIO
EQUALLED
19.1 PERCENT

Source text for Eikon:  ID:nEQ4mYFkLa 
Further company coverage:  GLJn.DE 

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