Grenke soars as 2022-24 guidance brings back some market confidence
17/03/2022 09:17
** Shares in Grenke GLJn.DE soar over 13%, heading for
their best day in ten months as the German leasing company's
outlook brings back some confidence in stock
** It guides for 2022 new leasing business of 2-2.2 billion
euros ($2.2-2.4 billion), net profit of 75-85 million euros,
while for 2024 it aims to double its new leasing business and
net profit excluding special items compared to 2021
** "The new 2022 and 2024 guidance are bringing back some
confidence into the stock," Marius Fuhrberg of Warburg Research
says
** "It appears that the company managed to finally return to
a growth path and that the measures of the past months bear
fruit," Fuhrberg adds
** Grenke's prelim figures were confirmed, while its FY net
profit came in at 95.2 million euros (or 72.2 million excluding
the sale of viafintech) urn:newsml:reuters.com:*:nASM0003Y1
** Grenke also proposed a dividend of 0.51 euros per share,
almost doubling from 0.26 euros a year earlier
** Grenke is seen as one of the top movers of German
small-cap index .SDAXI
($1 = 0.9048 euros)
(Reporting by Alexander Kloss)
((alexander.kloss@thomsonreuters.com))