Grenke accelerates growth | News

Baden-Baden leasing specialist Grenke is gradually leaving Corona behind. The growth of the new leasing business accelerated in the second quarter. It increased by 47.4 percent. up to EUR 587.4 million. The company, specializing in leasing IT and office equipment, was able to accelerate the growth of new businesses for the third consecutive quarter.

“This result confirms our expectations that we are returning to a stable, sustainable growth path,” said company CEO Michael Bcker. Our business remains highly profitable. The margin measured by the so-called premium margin 2, however, fell from 18.1 percent. up to 15.9 percent

The figure is therefore lower than in the previous quarter and about one percentage point below the target of 17%. The reasons for this are, among others higher refinancing costs as a result of higher interest rates. Grenke is looking to thrive again after the problems caused by the Corona crisis and a short sale damper.

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This year, the group has assumed between EUR 2 billion and EUR 2.2 billion in its new leasing business so far, with after-tax profits of between EUR 75 and 85 million. By 2024, the new leasing business should grow to EUR 3.4 billion and then achieve a financial result of EUR 140 million. Before Corona, Grenke had € 2.8 billion in new leasing business in 2019 and made a profit of € 133 million. The Grenke Group intends to present a detailed bi-annual report on August 11.

Grenke’s shares are on the ground

Grenke shares are in a medium-term downtrend but have managed to stabilize at just above € 20. MACD (Momentum) also stopped the downtrend for now. However, the technical situation on the chart only permanently improves after breaking an important resistance above EUR 26. This is where the horizontal resistance and the downtrend line meet. The 200-day moving average (red) is just above it.

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