on GRENKE AG (isin : DE000A161N30)
Grenke AG Reaffirms Preliminary Financial Figures for 2024
Grenke AG, a financing partner for SMEs, has confirmed its preliminary financial figures for 2024. For the first nine months, the group reported earnings of EUR 57.0 million, a decrease from EUR 64.4 million in the same period last year. This decline is attributed to increased claims settlements and risk provisions due to rising insolvencies. The loss rate has increased to 1.3%.
The company witnessed a growth in lease receivables, reaching EUR 6.2 billion by the end of Q3 2024. Leasing new business surged by 24.9% year-on-year. CEO Dr. Sebastian Hirsch stated the importance of maintaining risk provisions to strengthen the company’s market position.
Grenke's equity ratio fell to 16.1% following a benchmark bond issuance. The company revised its group earnings outlook for 2024 between EUR 68 and 76 million, with an equity ratio target above 16%.
R. H.
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