28.10.2016 GRENKE AG  DE000A161N30

DGAP-News: GRENKE AG: GRENKE continues successful performance throughout the first nine months - Consolidated Group net profit rises 27.1% to EUR 75.9 million


 
DGAP-News: GRENKE AG / Key word(s): Quarter Results GRENKE AG: GRENKE continues successful performance throughout the first nine months - Consolidated Group net profit rises 27.1% to EUR 75.9 million 28.10.2016 / 07:22 The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- GRENKE continues successful performance throughout the first nine months - Consolidated Group net profit rises 27.1% to EUR 75.9 million - Net interest income surpasses previous year's level by 14.7% - Consolidated Group net profit in the first nine months increases by 27.1% - Company reconfirms forecast raised at time of half-year results of Consolidated Group net profit in the range of EUR 98 - 102 million Baden-Baden, October 28, 2016: The positive earnings performance in the first half-year of 2016 continued for the full nine-month period. The robust, high-margin new business of earlier periods and a persistently low interest rate environment led to a 14.7% rise in net interest income for a total of EUR 161.1 million (9M-2015: EUR 140.4 million). Expenses for the settlement of claims and risk provision continued their decline falling 6.0% reaching EUR 41.2 million in the first nine months compared to their level of EUR 43.8 million in the same period of the previous year. This decline supported a sharp rise of 24.0% in net interest income after settlement of claims and risk provision to EUR 119.9 million compared to EUR 96.6 million in the previous year. The profit from service business (item's name was changed in first half of 2016 from "profit from insurance business") increased 16.7% to EUR 43.0 million (9M-2015: EUR 36.9 million). Profit from new business was 17.4% higher at EUR 43.8 million after EUR 37.3 million in the first nine months of 2015. Including gains/losses from disposals, which tend to be volatile on a quarterly basis, income from operating business increased 19.9% year- on-year to EUR 204.7 million compared to EUR 170.7 million. The Consolidated Group's expenses had a comparatively lower increase in the nine-month period. Based on the higher number of employees versus the prior year, staff costs grew 12.4% to EUR 52.1 million (9M-2015: EUR 46.3 million). A similarly moderate rise was recorded in the Consolidated Group's second largest expense item - selling and administrative expenses - where higher administrative costs moved this item 13.9% higher to EUR 43.8 million (9M-2015: EUR 38.5 million). The operating result increased 28.0% to EUR 103.3 million compared to a level of EUR 80.7 million in the same period of the previous year, which supported the rise of 27.1% in the Consolidated Group's net profit to EUR 75.9 million (9M-2015: EUR 59.7 million). Based on the above results, we reconfirm our forecast for the current fiscal year, which we raised with the announcement of our half-year 2016 results, and continue to expect net profit in the range of EUR 98 - 102 million. The Consolidated Group continued to maintain its solid balance sheet structure as per the September 30, 2016 reporting date. At 17.1%, the equity ratio was slightly higher than its level of 17.0% at the end of the 2015 fiscal year and was also above our long-term target of a minimum of 16%.

Key Figures GRENKE                                         9M-2016  9M-2015
New business GRENKE Group Leasing in EUR million           1,122.4    961.1
New business GRENKE Group Factoring in EUR million           254.6    230.2
Business start-up financing GRENKE Bank in EUR million        18.0     14.4
Contribution margin 2 (CM2) on GRENKE Group Leasing's new     17.1     18.5
business in %
GRENKE Consolidated Group's net profit in EUR million         75.9     59.7
Cost / income ratio in %                                      50.6     53.8
Equity ratio in % (previous year: December 31)                17.1     17.0
Number of new lease contracts in units                     131,208  113,448


This gratifying performance was generated by an average of 1,011 employees (9M-2015: 918 employees on average; full-time equivalents, excluding the members of the Board of Directors and trainees). In commenting on the nine-month results, Wolfgang Grenke, Chairman of the Board of Directors of GRENKE AG said: "We are very pleased overall with our performance in the first nine months in which we maintained the level of success achieved during the first half-year. We reconfirm our forecast range for net profit of EUR 98 - 102 million, which we raised with the release of the 2016 half-year results. The aforementioned positive developments give us tremendous confidence that we will end the fourth quarter and the fiscal year as a whole at a very gratifying level. With respect to our future growth, we will continue to work consistently on expanding our international presence and further diversifying our product range. Our broad range of refinancing instruments and our solid balance sheet featuring an equity ratio of 17.1% leave us optimally positioned to reach our future targets". Changes to the Board of Directors As per December 31, 2016, Mr. Jörg Eicker will leave the Board of Directors of GRENKE AG on amicable terms to pursue new challenges. "The Supervisory Board and the Board of Directors would like to thank Mr. Eicker for his valuable contribution these past years to GRENKE AG's positive and successful business performance and market position and, above all, for his contribution to the development and execution of important projects for refinancing the GRENKE Group", stated the Chairman of the Supervisory Board of GRENKE AG, Prof. Dr. Ernst-Moritz Lipp. The Supervisory Board intends to appoint Mr. Sebastian Hirsch to the GRENKE AG Board of Directors at its meeting in late November. Mr. Hirsch will assume responsibility for the areas Refinancing and Treasury. Mr. Wolfgang Grenke (Chairman of the Board of Directors) will be responsible for the area Investor Relations, and Mr. Sven Noppes, General Representative, will take over responsibility for Risk Management and Reporting. The full quarterly statement for the third quarter and first nine months of 2016 is available at www.grenke.de/financialreports. For further information, please contact: GRENKE AG Corporate Communications / Investor Relations Renate Hauss Neuer Markt 2 76532 Baden-Baden Phone: +49 7221 5007-204 Email: [email protected] Internet: http://www.grenke.de The GRENKE Group The GRENKE Group is a broadly diversified provider of IT-based services in Small-Ticket-IT-Leasing, Factoring and Banking for small and medium-sized companies. In addition, the GRENKE Bank offers its classic online services also to private customers. The GRENKE Group is independent of vendors and banks and holds a leading market position in Europe in the field of small-ticket IT leasing for products such as PCs, notebooks, copiers, printers, or software of relatively low asset value. The GRENKE Group operates in 30 countries and employs more than 1,100 staff. GRENKE AG is listed in the Prime Standard of the Frankfurt Stock Exchange and is included in the SDAX. GRENKE AG shares are listed on the Frankfurt Stock Exchange under the code GLJ, ISIN DE000A161N30. Information on the GRENKE Group and its products is available at http:// www.grenke.de --------------------------------------------------------------------------- 28.10.2016 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de --------------------------------------------------------------------------- Language: English Company: GRENKE AG Neuer Markt 2 76532 Baden-Baden Germany Phone: +49 (0)7221 50 07-204 Fax: +49 (0)7221 50 07-4218 E-mail: [email protected] Internet: www.grenke.de ISIN: DE000A161N30 WKN: A161N3 Indices: SDAX Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange End of News DGAP News Service --------------------------------------------------------------------------- 515489 28.10.2016


Die wichtigsten Finanzdaten auf einen Blick
  2017 2018 2019 2020 2021 2022 2023e
Umsatzerlöse1 2.418,55 2.936,64 3.512,49 2.675,70 2.358,74 3.083,36 3.419,82
EBITDA1,2 176,71 174,38 203,03 153,99 163,99 130,44 139,98
EBITDA-Marge3 7,31 5,94 5,78 5,76 6,95 4,23
EBIT1,4 161,35 157,16 170,00 125,12 132,51 97,98 112,91
EBIT-Marge5 6,67 5,35 4,84 4,68 5,62 3,18 3,30
Jahresüberschuss1 124,98 131,11 135,90 88,44 95,19 84,18 86,71
Netto-Marge6 5,17 4,46 3,87 3,31 4,04 2,73 2,54
Cashflow1,7 27,95 53,66 140,75 586,62 -72,04 -346,84 329,25
Ergebnis je Aktie8 2,74 2,78 2,95 1,86 1,94 1,75 1,79
Dividende8 0,70 0,80 0,80 0,26 0,51 0,45 0,58
Quelle: boersengefluester.de und Firmenangaben

  Geschäftsbericht 2023 - Kostenfrei herunterladen.  
1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de

Wirtschaftsprüfer: BDO

INVESTOR-INFORMATIONEN
©boersengefluester.de
Grenke
WKN Kurs in € Einschätzung Börsenwert in Mio. €
A161N3 24,200 - 1.125,19
KGV 2025e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
10,08 21,53 0,48 10,94
KBV KCV KUV EV/EBITDA
0,98 3,42 0,33 8,04
Dividende '22 in € Dividende '23e in € Div.-Rendite '23e
in %
Hauptversammlung
0,45 0,47 1,94 30.04.2024
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
15.05.2024 08.08.2024 14.11.2024 07.03.2024
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
3,79% 3,18% -3,39% 0,41%
    
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Finanzdienstleistungen , A161N3 , GLJ , XETR:GLJ