GRENKE AG: Statement on Bloomberg interview: Growth potential of new business in Leasing remains unchanged
Statement on Bloomberg interview: Growth potential of new business in Leasing remains unchanged
Baden-Baden, November 5, 2018. Today's Bloomberg interview entitled "Grenke expects significantly lower leasing growth in the long term" has led to significant confusion on the capital market.
GRENKE AG clarifies the contents of the interview with Bloomberg as follows: GRENKE continues to see solid growth potential in the leasing business and expects double-digit growth to continue in the future. In the 2017 Annual Report, the GRENKE Group's long-term growth in new business - i.e. the sum of the acquisition costs of newly acquired lease assets, factoring volumes and business start-up financing (including the microcredit business) - has been stated at a minimum of twelve percent per annum. In the conference call on October 30, 2018 for the third quarter and the first nine months of 2018, Mr. Hirsch (member of the Board of Directors) narrowed this outlook, citing 14 to 16 percent as the rate of medium to long-term growth for new business in Leasing. Analysts who have been following the Company for a longer period of time have confirmed this expectation in recent reports.
The Company will announce its forecast for Leasing new business in the 2019 fiscal year on February 7, 2019 when it publishes its financial report for the past 2018 fiscal year.
For further information, please contact: GRENKE AG Investor Relations Renate Hauss Neuer Markt 2 76532 Baden-Baden Phone: +49 7221 5007-204 Email: email@example.com Internet: http://www.grenke.deAbout GRENKE The GRENKE Group (GRENKE) is a global financing partner for small and medium-sized companies. As a one-stop shop for customers, GRENKE's products range from flexible small-ticket leasing and demand-driven bank products to convenient factoring. Fast and easy processing and personal contact with customers and partners are at the centre of GRENKE's activities.
Founded in 1978 in Baden-Baden, the Group operates in 31 countries and employs more than 1,500 staff worldwide. GRENKE shares are listed in the SDAX on the Frankfurt Stock Exchange (ISIN DE000A161N30).
Further information about GRENKE and its products is available at http://www.grenke.de.
05.11.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.deLanguage: English Company: GRENKE AG Neuer Markt 2 76532 Baden-Baden
Germany Phone: +49 (0)7221 50 07-204 Fax: +49 (0)7221 50 07-4218 E-mail: firstname.lastname@example.org Internet: www.grenke.de ISIN: DE000A161N30 WKN: A161N3 Indices: SDAX Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange End of News DGAP News Service