DGAP-News: GRENKELEASING AG: New business growth of 16.7% in first half of 2013 - therefore within our forecast range of 13 to 16 %
(firmenpresse) - DGAP-News: GRENKELEASING AG / Key word(s): Miscellaneous
GRENKELEASING AG: New business growth of 16.7% in first half of 2013 -
therefore within our forecast range of 13 to 16 %
02.07.2013 / 07:17
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New business growth of 16.7% in first half of 2013 - therefore within our
forecast range of 13 to 16 %
- New business in the GRENKE Group of EUR 574.7 million in first half of
2013 - year-on-year increase of 16.7%
- Contribution margin 2 (CM2) on new business in the GRENKE Group
(leasing) of EUR 95.6 million in first half of 2013. CM2 margin of
19.3%
Baden-Baden, July 02, 2013: In the first half of 2013, 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, factoring volumes
and start-up financing - amounted to EUR 574.7 million (1.HY 2012: EUR
492.3 million), corresponding to growth of 16.7%. The contribution margin 2
(CM2) on new business in the GRENKE Group (leasing) amounted to EUR 95.6
million in first half of 2013 (1.HY 2012: EUR 84.9 million, previous year's
figure adjusted). The CM2 margin was 19.3%
International business contributed a share of 66.2% to the GRENKE Group's
new business (previous year: 65.6%). In the first half of 2013, the GRENKE
Group recorded a total of 151,391 leasing applications (of which 120,092
international), from which 61,011 new leasing contracts were generated (of
which 45,969 international). The average value per lease contract was
around EUR 8,104 and is down slightly on the previous year's figure (1.HY
2012: EUR 8,234).
In the first half of 2013, our conversion rate (applications to leases) in
the GRENKE Group (leasing) was 40%. The conversion rate on our
international markets was 38%, which is therefore lower than the German
market (48%). These conversion rates show that we are continuing to focus
on Germany, our most important market, and are consistently pursuing our
strategy of not making any concessions in our appropriate risk approach on
individual international markets.
The GRENKE Group is still focused on international business and we opened
three new locations in the second quarter to provide for its future
expansion. Among others, we opened our fourth Swiss location in Lugano. Our
sales efforts, including in Germany, are reflected in gratifying new
business growth. In the first half of the year, new business (leasing)
amounted to EUR 147.5 million (1.HY 2012: EUR 130.3 million), corresponding
to a rise of 13.2%.
All amounts in EUR million (2012 figures adjusted)
New business 1.HY-2013 1.HY-2012 % change
GRENKE Group leasing + factoring + business 574.7 492.3 16.7
start-up financing including franchise
partners
- of which: Germany 194,2 169.4 14.6
- of which: International 380.5 322.9 17.9
New business 1.HY-2013 1.HY-2012 % change*Regions:
GRENKE Group leasing 494.4 436.7 13.2
- of which: International 326.8 291.8 12.0
- of which: Franchise international 20.1 14.6 37.5
- of which: Germany147.5 130.3 13.2
Western Europe* (without Germany) 160.8 137.0 17.4
Southern Europe* 104.1 97.4 6.8
Northern- /Eastern Europe* 71.3 64.5 10.4
Other regions* 10.9 7.5 44.0
Western Europe (without Germany): Austria, Belgium, France, Luxembourg,
Netherlands, Switzerland
Southern Europe: Italy, Malta, Portugal, Slovenia, Spain
Northern- /Eastern Europe: Czech Republic, Denmark, Finland, Hungary,
Ireland, Norway, Poland, Romania, Slovakia, Sweden, UK
Other regions: Brazil, Dubai, Turkey
New business 1.HY-2013 1.HY-2012 % change
GRENKE Group factoring 77.9 53.3 46.3
- of which: Germany 44.4 36.9 20.3
- of which: Franchise international 33.6 16.4 104.9
GRENKE Bank 1.HY-2013 1.HY-2012 % changeAt 13.5%, the GRENKE Group's contribution margin 1 on leasing business
Deposits 248.0 156,2 58.8
Business start-up financing volume 2.4 2.3 3.2
(acquisition values) was again at an advantageous level on account of the
consistently favourable refinancing environment, and amounted to EUR 66.9
million in the first half of 2013 (1.HY 2012: EUR 58.7 million).
Contribution margin 2 (CM2) on new business in the GRENKE Group (leasing)
amounted to EUR 95.6 million in first half of 2013 (1.HY 2012: EUR 84.9
million, previous year's figure adjusted). The CM2 on leasing business was
19.3% in the first half of 2013 after 19.4% in 1.HY 2012. As part of our
advancing internationalisation, we have adjusted the CM2 calculation in
Q1-2013 for more efficient sales management. This is based on individual
contract costs during the term.
The income margin on the factoring volume of EUR 77.9 million was 2.4%
(1.HY 2012: 2.4%). This margin relates to the average period of a factoring
transaction of around 29 days (1.HY 2012: around 31 days).
Development of contribution margin (CM) 2 in EUR million (2012 figures
adjusted)
1.HY-2013 1.HY-2012 % change*Regions:
GRENKE Group leasing 95.6 84.9 12.6
- of which: International 69.3 62.2 11.5
- of which: Franchise business international 6.7 3.6 84.6
- of which: Germany 19.6 19.1 2.5
Western Europe* (without Germany) 34.7 28.3 22.7
Southern Europe* 22.8 22.6 1.1
Northern- /Eastern Europe* 14.1 13.0 8.5
Other regions* 4.4 2.0 124.9
Western Europe (without Germany): Austria, Belgium, France, Luxembourg,
Netherlands, Switzerland
Southern Europe: Italy, Malta, Portugal, Slovenia, Spain
Northern- /Eastern Europe: Czech Republic, Denmark, Finland, Hungary,
Ireland, Norway, Poland, Romania, Slovakia, Sweden, UK
Other regions: Brazil, Dubai, Turkey
'With new business growth of 16.7% we reached the upper end of our forecast
range for growth of between 13% and 16% after the first half of the year
and continued the development of the first quarter. Attractive CM2 margins
commensurate with our risk situation are still a defining factor in growth
management. There is still a clear focus on international business, but we
also achieved positive new business growth of 13% on our home market
Germany,' said Wolfgang Grenke, CEO of GRENKELEASING AG, of the figures for
new business.
'The refinancing of our growth strategy is well secured. Our solid
reputation on the capital market was again shown by the issue of a EUR 100
million bond in June. The bond was five times oversubscribed within an hour
of opening the order book and we placed the issue with an interest coupon
of 2%. The high share of international investors was particularly
encouraging,' explained Jörg Eicker, CFO of GRENKELEASING AG.
On July 25, 2013 the company is to publish the Quarterly Financial Report
as per June 30, 2013.
Should you have any queries, please contact:
Renate Hauss
Tel.: +49 7221 5007-204
Fax: +49 7221 5007-4218
E-mail: investor(at)grenke.de
Internet: http://www.grenke.de, http://grenkeleasing.de,
http://www.grenkebank.de, http://www.grenkefactoring.de
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 26 countries and
employs more than 800 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
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Language: English
Company: GRENKELEASING 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(at)grenke.de
Internet: www.grenke.de
ISIN: DE0005865901
WKN: 586590
Indices: SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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219372 02.07.2013
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Datum: 02.07.2013 - 07:17 Uhr
Sprache: Deutsch
News-ID 274886
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