| EQS-Ad-hoc: GRENKE AG / Key word(s): Change in Forecast GRENKE revises market expectations and outlook for 2024 09-Aug-2023 / 18:08 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. GRENKE revises market expectations and outlook for 2024 Baden-Baden, August 9, 2023: GRENKE AG’s Board of Directors today revised its outlook for the 2024 financial year, bringing it in line with the market environment. Based on the updated economic forecasts and the continued focus on balanced margins in this environment, the Board of Directors is now targeting new leasing business of EUR 3.0 billion to EUR 3.2 billion in 2024, instead of the previous figure of around EUR 3.4 billion. GRENKE is continuing its growth strategy also with the reduced forecast range for new business. The new outlook for new leasing business corresponds to double-digit growth of 11 % to 19 % compared to the forecast midpoint for the current financial year of around EUR 2.7 billion. The Board of Directors is therefore assuming a range for the Consolidated Group net profit in the 2024 financial year of EUR 95 million to EUR 115 million (previous forecast range: around EUR 120 million). The forecast for the current 2023 financial year remains unchanged at EUR 2.6 billion to EUR 2.8 billion for new leasing business and EUR 80 million to EUR 90 million for Consolidated Group net profit. For further information, please contact:
Information and Explanation of the Issuer to this announcement: About GRENKE The GRENKE Group (GRENKE) is a global financing partner for small and medium-sized companies. As a one-stop shop for customers, GRENKE’s products range from flexible small-ticket leasing and demand-driven bank products to convenient factoring. Fast and easy processing and personal contact with customers and partners are at the centre of GRENKE’s activities. Founded in 1978 in Baden-Baden, the Group operates in more than 30 countries and employs approximately 2,000 staff (measured in terms of full-time equivalents) worldwide. GRENKE shares are listed on the Frankfurt Stock Exchange (ISIN DE000A161N30). 09-Aug-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.eqs-news.com |
| 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: | investor@grenke.de |
| 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 |
| EQS News ID: | 1700107 |
| End of Announcement | EQS News Service |
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1700107 09-Aug-2023 CET/CEST
