- WKN: 586590
- ISIN: DE0005865901
- Land: Germany
Nachricht vom 03.07.2012 | 07:30
GRENKELEASING AG: Grenkeleasing: Successful first half of 2012 - New business growth of 19.8%
GRENKELEASING AG / Key word(s): Miscellaneous
Successful first half of 2012 - New business growth of 19.8%
- New business in the GRENKE Group amounts to EUR 490.0 million in first half of 2012 - corresponding to growth of 19.8%
- The GRENKE Group's contribution margin 2 on new business amounted to EUR 76.4 million in the first half of 2012 - contribution margin 2 still very high at 17.3% (leasing business)
- Changes in Board of Directors
Baden-Baden, July 3, 2012: In the first half of 2012, the volume of new business in the GRENKE Group (incl. franchise partners) - i.e. the total of the acquisition costs for newly acquired leasing assets and the factoring volume - amounted to EUR 490.0 million (1.HY 2011: EUR 409.0 million), corresponding to growth of 19.8%. Thus, we are fully on course to achieve our projections for new business growth of around 15% for 2012.
The contribution margin 2 on new business in the GRENKE Group amounted to EUR 76.4 million in the first half of 2012. With a contribution margin 2 of 17.3% (leasing business), we are still achieving attractive margins well in line with the associated risk. This high contribution margin is thanks to the consistently good competitive environment on individual international markets.
International business contributed 65.9% (previous year: 61.6%) to the new business of the GRENKE Group. The growth trend on our biggest international markets of France, Italy and the UK is still ongoing.
The further cell divisions planned for our existing markets as part of our market penetration strategy were implemented in order to further expand our presence. In Italy we opened a branch in Rome and are now represented at a total of eight locations. In France we opened our eleventh location in Bordeaux.
In the first half of 2012, the GRENKE Group recorded a total of 127,290 leasing applications (of which 97,444 were international), on the basis of which 53,037 new leasing contracts (of which 38,584 were international) were generated. The average value per lease contract was around EUR 8,234 and is up slightly on the previous year's figure (1.HY-2011: EUR 8,013).
In the first half of 2012, our conversion rate (applications to contracts) was 42%, and therefore still below our target. The conversion rate in our international markets is still lower than the Group conversion rate, since we are not yet known so well in the new markets and are maintaining a careful risk policy in individual international markets.
All figures in EUR million
New business from leasing by international markets in EUR million
Contribution margin 1 on the GRENKE Group's leasing business (contribution margin 1 to acquisition values) surpassed our target of 10% in the first half of 2012 at EUR 58.7 million (1.HY-2011: EUR 39.1 million - comparative figure for leasing business). The corresponding CM2 amounts to EUR 75.7 million and has increased year-on-year by 35.5%.
Development of contribution margin 2 (CM2) in EUR million
The strong growth in contribution margin 2 continuously demonstrates the high profitability of our new business and is therefore the basis for future earnings growth.
The profit margin in relation to the factoring volume of EUR 53.3 million was 2.4% (1.HY-2011: 2.4%). This margin relates to the average period of a factoring transaction of around 31 days (1.HY-2011: around 38 days).
The Supervisory Board of GRENKELEASING AG has appointed two new members to the Board of Directors. In order to bolster the company's IT function, which is of particular importance to GRENKE, Ms. Antje Leminsky (41) will initially join the company as a Managing Director on August 1, 2012. She will join the Board of Directors as at August 1, 2013 and take over IT-responsibility from Mr. Grenke. Ms. Leminsky was previously the head of the IT department (Group Technology Partner) at OTTO GmbH & Co KG, Hamburg, Germany.
Mr. Jörg Eicker (47) will join the Board of Directors on September 1, 2012 and assume responsibility for Treasury, Refinancing, Risk Management, Controlling, Investor Relations and GRENKE Bank from Dr. Uwe Hack as at October 1, 2012. Mr. Eicker is joining the company from NRW.BANK, where he is in charge of long-term refinancing and the management of various investment portfolios. He is also a member of the bank's Credit Committee.
Dr. Uwe Hack will leave the Board of Directors as at September 30, 2012 by mutual arrangement to take up a professorship. 'The Supervisory Board and the Board of Directors wish to thank Dr. Hack for his enormous contribution to the positive development of GRENKELEASING AG in recent years, particularly in successfully protecting the company against the financial crisis and in the acquisition and repositioning of GRENKE Bank,' said Prof. Dr. Ernst-Moritz Lipp, Chairman of the Supervisory Board of GRENKELEASING AG.
'The GRENKE Group has had a very successful first half of 2012. With a rise in new business of nearly 20%, we are well on our way to achieving our growth forecasts for new business of around 15% for 2012. As in previous quarters, we currently have an attractive contribution margin in new business that more than covers the risks of our business. We have expanded our international presence once again in the second quarter of 2012 and will continue to do so in the second half of the year as well,' said Wolfgang Grenke, Chairman of the Board or Directors of GRENKELEASING AG, of the results.
'We have a first class refinancing position, as shown by the successful placement of our second EUR 100 million bond this year. As part of GRENKE Bank's work with public Development Banks, we concluded a further cooperation with Investitionsbank Berlin in June 2012. Similar cooperations are already in place with NRW.Bank and Thüringer Aufbaubank. We have developed a good understanding of the specific needs of small and medium-sized enterprises in the financing arena over decades. We are therefore delighted that these companies and the self-employed now have further access to development funds. In total, we have already concluded more than 4,150 subsidised leases with small and medium-sized enterprises and self-employed professionals,' explained Dr. Uwe Hack, Deputy Chairman of GRENKELEASING AG.
On July 26, 2012 the company is to publish the full quarterly financial report as per June 30, 2012.
Should you have any queries, please contact:
The GRENKE Group
The GRENKE Group is a broadly diversified provider of financial services for small and medium-sized companies and private customers.
The range of services offered by the GRENKE Group covers small-ticket IT leasing and factoring and - through GRENKE Bank - traditional online banking services.
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 24 countries and employs more than 700 staff.
GRENKELEASING AG is listed in the Prime Standard of the Frankfurt Stock Exchange and is included in the SDAX. GRENKELEASING AG shares are listed in the SDAX on the Frankfurt Stock Exchange with the code GLJ, ISIN DE0005865901.
Information on the GRENKE Group and its products is available on the Internet at http://www.grenke.de, http://www.grenkeleasing.de, http://www.grenkebank.de, and http://www.grenkefactoring.de.
End of Corporate News
03.07.2012 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
|Neuer Markt 2|
|Phone:||+49 (0)7221 50 07-204|
|Fax:||+49 (0)7221 50 07-112|
|Listed:||Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart|
|End of News||DGAP News-Service|
Anleihe im Fokus
7,75% p.a. - Rendite aus Familienhand
– Zeichnungsstart: 23. Mai – Börse Frankfurt
– Zeichnung ab 1.000 Euro
– Laufzeit 5 Jahre
– WKN: A1TNA7
– 100% Rückzahlungskurs
Syzygy AG: Aktie kaufen
Die nach den ersten drei Monaten des laufenden Jahres von Syzygy präsentierten Zahlen liegen im Rahmen unserer Erwartungen. Angesichts unserer unveränderten Prognosen behalten wir das bisherige Kursziel von 5 € bei und erneuern das Rating KAUFEN.
Event im Fokus
38. m:access Analystenkonferenz München
Zeit: 9:30 Uhr - 17.00 Uhr
Ort: Börse München
Der AKTIONÄR News
23. Mai 14:05 Allianz-Aktie: Würdigung durch die Analysten
23. Mai 12:58 Aixtron-Aktie unter Druck: Kommt der Neustart?
Original-Research: Analytik Jena AG (von Montega AG): Kaufen
23. Mai 2013