DGAP-News: GRENKELEASING AG: GRENKE's growth in new business of 16.7% in the first nine months of 2013 fully on track
(firmenpresse) - DGAP-News: GRENKELEASING AG / Key word(s): Miscellaneous
GRENKELEASING AG: GRENKE's growth in new business of 16.7% in the
first nine months of 2013 fully on track
02.10.2013 / 07:22
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GRENKE's growth in new business of 16.7% in the first nine months of 2013
fully on track
- GRENKE Group's new business in the first nine months of 2013 amounted
to EUR 851.8 million - a year-on-year increase of 16.7%
- Contribution margin 2 (CM2) of EUR 137.9 million on GRENKE Group
Leasing's new business in the first nine months of 2013. The CM2 margin
amounted to 19.1%
Baden-Baden, October 02, 2013: In the first nine months of 2013, the volume
of new business in the GRENKE Group (incl. franchise partners) - i.e. the
total of the acquisition costs of newly purchased lease assets, factoring
volume, and business start-up financing - amounted to EUR 851.8 million
(9M-2012: EUR 730.0 million), corresponding to growth of 16.7%. The
contribution margin 2 on new business in the GRENKE Group Leasing amounted
to EUR 137.9 million in the first nine months of 2013 (9M-2012: EUR 125.3
million, previous year's figure adjusted). The CM2 margin was 19.1%.
International business contributed 65.8% to the GRENKE Group's new business
(previous year: 65.2%). In the first nine months of 2013, the GRENKE Group
recorded a total of 217,584 lease applications (of which 170,664 were
international), and generated 88,402 new lease contracts (of which 65,941
were international). The mean term per lease contract was approximately EUR
8,148 and is down slightly from the previous year's figure (9M-2012: EUR
8,328).
In the first nine months of 2013, our conversion rate (applications into
contracts) in the GRENKE Group (Leasing) was 41%. The conversion rate on
our international markets was 39%, which is therefore lower than the
conversion rate on the German market (48%). These conversion rates
illustrate the focus on the German domestic market and the consistent
pursuance of our strategy of not making any concessions in our risk
approach on individual international markets.
In addition to penetrating new markets we are also intensifying the
proximity to our customers by along our 'cell division' strategy. In the
third quarter, we opened new locations in Belgium, UK, and Austria, and
pushed forward our preparations for new openings in Canada in the fourth
quarter.
All amounts in EUR million (2012 figures adjusted)
New business 9M-2013 9M-2012 % change
GRENKE Group leasing + factoring + business 851.8 730.0 16.7
start-up financing including franchise
partners
- of which: Germany 291.5 253.8 14.9
- of which: International 560.3 476.2 17.7
New business 9M-2013 9M-2012 % change*Regions:
GRENKE Group leasing 720.3 640.7 12.4
- of which: International 485.2 432.1 12.3
- of which: Franchise international 18.2 15.9 14.4
- of which: Germany 216.9 192.7 12.6
Western Europe* (without Germany) 231.4 198.4 16.6
Southern Europe*152.2 139.1 9.4
Northern/Eastern Europe* 107.1 98.2 9.1
Other regions* 12.7 12.3 2.9
Western Europe (without Germany): Austria, Belgium, France, Luxembourg, The
Netherlands, Switzerland
Southern Europe: Italy, Malta, Portugal, Slovenia, Spain
Northern/Eastern Europe: Denmark, Finland, Ireland, Norway, Sweden, UK /
Czech Republic, Hungary, Poland, Romania, Slovakia,
Other regions: Brazil, Dubai, Turkey
New business 9M-2013 9M-2012 % change
GRENKE Group factoring 127.0 85.2 49.1
- of which: Germany 70.1 57.0 22.9
- of which: Franchise international 56.9 28.2 102.1
GRENKE Bank 9M-2013 9M-2012 % changeAt 13.4%, the GRENKE Group's CM1 margin on leasing business (contribution
Deposits 246.4 190.9 29.1
Business start-up financing volume 4.5 4.0 11.5
margin 1 at acquisition values) was at an attractive level on account of
the continued favourable refinancing environment, and amounted to EUR 96.2
million in the first nine months of 2013 (9M-2012: EUR 86.4 million).
The contribution margin 2 on new business in the GRENKE Group Leasing
amounted to EUR 137.9 million in the first nine months of 2013 (9M-2012:
EUR 125.3 million, previous year's figure adjusted). The CM2 margin on
leasing business was 19.1% in the first nine months of 2013 after 19.6% in
the first nine months of 2012. As part of our internationalisation and for
an even more efficient sales management, we have modified the CM2
calculation in Q1-2013. The new calculation is based on individual contract
costs during the term.
The income margin on the factoring volume of EUR 127.0 million was 2.3%
(9M-2012: 2.3%). This margin is based on an average period of a factoring
transaction of approximately 24 days (9M-2012: approximately 33 days).
Development of contribution margin (CM) 2 in EUR million (2012 figures
adjusted)
9M-2013 9M-2012 % change*Regions:
GRENKE Group leasing 137.9 125.3 10.1
- of which: International 102.2 92.5 10.5
- of which: Franchise international 6.4 4.2 50.5
- of which: Germany 29.3 28.5 2.8
Western Europe* (without Germany) 49.7 41.3 20.3
Southern Europe* 32.8 32.1 2.1
Northern/Eastern Europe* 21.1 19.9 6.2
Other regions* 4.9 3.4 44.9
Western Europe (without Germany): Austria, Belgium, France, Luxembourg, The
Netherlands, Switzerland
Southern Europe: Italy, Malta, Portugal, Slovenia, Spain
Northern/Eastern Europe: Denmark, Finland, Ireland, Norway, Sweden, UK /
Czech Republic, Hungary, Poland, Romania, Slovakia,
Other regions: Brazil, Dubai, Turkey
'With new business growth of 16.7% to EUR 851.8 million in the GRENKE Group
in the first nine months of 2013, we are fully on track to reach our
full-year outlook of growth of between 13% and 16%. In Germany, the
positive trend continued with leasing new business growth of 12.6%. Given
our already high penetration in this market, this is a very favourable
result. In Western Europe, we achieved growth of 16.6%, primarily driven by
France and Switzerland. We continued to generate attractive and
risk-adequate CM2 margins, which remain the focus of our new business
management. For our future expansion we opened new locations in the third
quarter and we pushed forward our planned market entry in Canada in the
fourth quarter', commented Wolfgang Grenke, GRENKELEASINGAG's Chairman of
the Board of Directors, with regard to the new business figures.
'GRENKE Bank allows us to cooperate with the development banks of German
federal states. Last year, we agreed on a collaboration with Thüringer
Aufbaubank in Erfurt. Following the successful start, the collaboration now
continues by way of a second global loan in the amount of EUR 5 million.
The aim is to provide small and medium sized companies as well as
self-employed professionals access to development funds when they finance
business investments through lease financing. Similar collaborations are
already in place with LfA Förderbank Bayern, Investitionsbank Berlin (IBB),
and NRW.BANK in North Rhine-Westphalia. In total, we have already concluded
more than 7,800 leasing contracts with small and medium sized companies and
self-employed professionals', explained Jörg Eicker, Chief Financial
Officer (CFO) of GRENKELEASING AG.
On October 24, 2013 the Company will publish a detailed Financial Report
for the 3rd Quarter and the first nine months of 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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233001 02.10.2013
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