grenke on track: Group earnings significantly increased
Published on 11/12/2026 at 06:59 | dgap, AD HOC NEWS| grenke AG / Key word(s): Quarter Results/Quarterly / Interim Statement 12.11.2026 / 06:59 CET/CEST The issuer is solely responsible for the content of this announcement. grenke on track: Group earnings significantly increased Group earnings rise by 14.6 percent to EUR 55.7 million in the first nine months of 2026 (Q1–Q3 2025: EUR 48.6 million); return on equity (RoE) rises to 5.2 percent (Q1–Q3 2025: 4.7 percent) Leasing new business at EUR 2,443.8 million, above previous year (Q1–Q3 2025: EUR 2,403.3 million) Cost-income ratio improves significantly to 50.6 percent (Q1–Q3 2025: 55.4 percent) Loss rate remains at an elevated level of 1.9 percent (Q1–Q3 2025: 1.8 percent) Group earnings forecast for 2026 of between EUR 74 million and EUR 86 million confirmed; leasing new business expected at around EUR 3.4 billion Baden-Baden, November 12, 2026: grenke AG, a specialist in small-ticket leasing, increases its Group earnings by 14.6 percent to EUR 55.7 million in the first nine months of the 2026 financial year (Q1–Q3 2025: EUR 48.6 million). This significant growth in earnings is primarily attributable to a strong rise in operating income of 9.4 percent to EUR 533.0 million (Q1–Q3 2025: EUR 487.2 million), whilst costs remain virtually unchanged at EUR 269.8 million (Q1–Q3 2025: EUR 269.9 million). Accordingly, the cost-income ratio (CIR) improves noticeably to 50.6 percent (Q1–Q3 2025: 55.4 percent). Operating result before settlement of claims and risk provision rises significantly by 21.2 percent to EUR 263.2 million over the same period (Q1–Q3 2025: EUR 217.2 million). At 1.9 percent, the loss rate for the first nine months of 2026 remains at an elevated level above the previous year (Q1–Q3 2025: 1.8 percent), but also slightly lower than in the first half of 2026. Dr Sebastian Hirsch, CEO of grenke AG: “We are on track. The first nine months demonstrate the potential of our business model. We have made significant progress in improving our operating efficiency faster than expected. And our growing leasing portfolio provides a strong foundation for the future. What matters now is consistently translating this potential into sustainably higher earnings and a stronger return on equity. This also means bringing our loss rate back to normal levels and strengthening our margins sustainably. That’s how we measure ourselves.” In the first three quarters of 2026, grenke increases leasing new business moderately by 1.7 percent to EUR 2,443.8 million (Q1–Q3 2025: EUR 2,403.3 million). The contribution margin 2 (CM2) – a key indicator of profitability – amounts to EUR 382.9 million in the reporting period (Q1–Q3 2025: EUR 410.6 million). This results in a solid CM2 margin of 15.7 percent (Q1–Q3 2025: 17.1 percent). The decline in CM2 margin is primarily attributed to the usual time lag between interest rate movements and the setting of leasing conditions. While the CM2 margin benefited temporarily from falling market interest rates in the same period of last year, rising capital market interest rates had a countervailing effect – also temporary – particularly in the second and third quarter of 2026. In addition to changing interest rate levels, the CM2 margin also reflects other factors such as the currently higher expected defaults and, consequently, the further increase in loss levels resulting from global uncertainties. Key figures at a glance (in EUR million)
In its core leasing market Germany, grenke achieves the strongest growth of 8.2 percent in the first nine months of 2026, reaching a volume of EUR 517.1 million (Q1–Q3 2025: EUR 477.8 million). The other top five countries – measured by the volume of new business concluded – include France, Italy, Spain and the UK. Together, these five markets account for around 66 percent of the grenke Group’s total leasing new business in the reporting period (Q1–Q3 2025: around 64 percent). The region with the highest volume is Western Europe (without DACH), with an increase of 2.7 percent to EUR 630.3 million (Q1–Q3 2025: EUR 613.8 million), followed by DACH with growth of 7.9 percent to EUR 629.6 million (Q1–Q3 2025: EUR 583.8 million). Next comes Southern Europe, with growth of 2.4 percent to EUR 603.4 million (Q1–Q3 2025: EUR 589.1 million). The Other Regions grow by 3.7 percent in the first nine months to EUR 177.2 million (Q1–Q3 2025: EUR 170.9 million), with the future core markets USA, Canada and Australia in particular achieving significant growth. Northern/Eastern Europe records a decline compared with the same period last year, at EUR 403.4 million (Q1–Q3 2025: EUR 445.7 million). This is due to deliberate management measures in Denmark and Sweden, as well as generally hesitant investment decisions stemming from the overall geopolitical situation. Overall, the performance in the Northern/Eastern Europe region is offset, meaning that grenke Group achieves growth in leasing new business of 1.7 percent to EUR 2,443.8 million in the first nine months (Q1–Q3 2025: EUR 2,403.3 million). In the first nine months of 2026, the largest category of leased assets remains IT equipment, accounting for 27.2 percent of the total number of contracts concluded. This primarily includes laptops, IT equipment and software. The share of direct customer business in total leasing new business rises to 18.3 percent (Q1–Q3 2025: 17.5 percent). The number of leasing applications of around 498,000 is slightly below the previous year’s figure (Q1–Q3 2025: around 506,000). Over the same period, the number of leasing contracts concluded remains stable at around 242,000 (Q1–Q3 2025: around 242,000). The conversion rate, at 48.6 percent, is within the usual range (Q1–Q3 2025: 47.7 percent). The average ticket size is EUR 10,116 (Q1–Q3 2025: EUR 9,949). Operating income grows significantly – driven by a robust portfolio Interest income rises by EUR 45.8 million to EUR 540.4 million in the first nine months of 2026 (Q1–Q3 2025: EUR 494.6 million). Over the same period, interest expenses related to the refinancing of the leasing business increase by EUR 25.4 million to EUR 217.9 million (Q1–Q3 2025: EUR 192.5 million). As a result, net interest income – the difference between interest income and interest expenses – is 6.8 percent higher than the previous year’s figure at EUR 322.5 million (Q1–Q3 2025: EUR 302.1 million). As a result of the significant growth in interest income, as well as profit from service business and gains from disposals, operating income rises by a total of EUR 45.8 million to EUR 533.0 million (Q1–Q3 2025: EUR 487.2 million). Significantly improved cost-income ratio Operating expenses, at EUR 269.8 million (Q1–Q3 2025: EUR 269.9 million), remain virtually unchanged compared with the same period last year, with EUR 158.5 million of this figure attributable to staff costs (Q1–Q3 2025: EUR 157.5 million). Based on Group-wide cost discipline combined with strong income growth, grenke records increasing operating profitability in the first nine months of 2026, resulting in a significantly improved cost-income ratio of 50.6 percent compared with the previous year (Q1–Q3 2025: 55.4 percent). Continued high level of loss rate in line with expectations Due to the persistently strained overall macroeconomic and geopolitical situation, but also due to portfolio growth, settlement of claims and risk provision rise to EUR -177.6 million in the first nine months (Q1–Q3 2025: EUR -146.3 million). The loss rate (expenses for the settlement of claims and risk provision in relations to leasing volume) remains elevated at 1.9 percent in the first nine months, slightly above the same period of last year (Q1–Q3 2025: 1.8 percent), but slightly lower than in the first half of 2026 (Q1–Q2 2026: 2.0 percent). Significant increase in profit driven by improved profitability The persistently elevated level of defaults is offset by the strong operating profit before settlement of claims and risk provision, resulting in a sharp increase in operating result of 14.5 percent to EUR 76.8 million (Q1–Q3 2025: EUR 67.1 million). Consequently, Group earnings record significant growth of 14.6 percent to EUR 55.7 million (Q1–Q3 2025: EUR 48.6 million). This also leads to an increase in the return on equity (RoE) after taxes to 5.2 percent in the first nine months of 2026, compared with 4.7 percent in the same period of the previous year. Successful bond issuance In the third quarter of 2026, grenke issued a new bond of EUR 300 million. In addition, a CHF bond with a nominal value of 100 million Swiss francs was placed to refinance new local leasing business. Alongside raising liquidity via the capital market, grenke Bank’s deposit business, receivables-based refinancing through asset-backed commercial paper (ABCP) programmes, and external bank funding form a solid foundation for grenke’s new business ambitions. Lease receivables show steady growth, equity ratio as expected As a result of leasing new business, lease receivables rise to EUR 7.8 billion at the end of the third quarter of 2026 (December 31, 2025: EUR 7.3 billion). This results in a further growth in payments from lessees, totaling EUR 2.3 billion (Q1–Q3 2025: EUR 2.1 billion), which underlines the strength of the leasing portfolio. The equity ratio stands at 15.0 percent as of September 30, 2026 (December 31, 2025: 15.6 percent), and is thus within the target range of around 15 percent. Outlook for 2026 For the 2026 financial year, grenke continues to expect Group earnings in the range of EUR 74 million to EUR 86 million. Given the current persistently challenging environment and active risk management measures, the Board of Directors is refining its forecast for leasing new business to around EUR 3.4 billion. The focus for the coming years will be on profitability and, consequently, on achieving a return on equity after taxes of 10 percent by 2030. The Q3 and Q1–Q3 2026 quarterly statement is available on our website under ‘Reports & Key Figures’. All dates for the 2027 financial year are available on the website under ‘Corporate Calendar’. About grenke For nearly 50 years, grenke has been a global specialist and market leader in small-ticket leasing for contract values of up to EUR 50,000. Headquartered in Baden-Baden, the Group offers simple, liquidity-preserving financing solutions through around 2,300 employees in 31 countries worldwide and 35,000 specialist reseller partners to more than 700,000 customers – the majority of them small and medium-sized enterprises. grenke’s product range extends from IT equipment and laboratory equipment to eBikes. Since it was founded in 1978, grenke has followed a growth trajectory. At the end of 2025, the leasing volume amounted to approximately EUR 11.4 billion. The grenke Group includes grenke Bank, which makes a significant contribution to refinancing. grenke AG is listed on the Frankfurt Stock Exchange (ISIN: DE000A161N30). Further information can be obtained from Investor Contact Investor Relations Team Neuer Markt 2 76532 Baden-Baden +49 7221 5007 8611 investor@grenke.de Press contact Stefan Wichmann Neuer Markt 2 76532 Baden-Baden +49 171 2020300 presse@grenke.de 12.11.2026 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group. The issuer is solely responsible for the content of this announcement. The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. View original content: EQS News |
| Language: | English |
| Company: | grenke AG |
| Neuer Markt 2 | |
| 76532 Baden-Baden | |
| Germany | |
| Phone: | +49 (0)7221 50 07 8611 |
| Fax: | +49 (0)7221 50 07-4218 |
| E-mail: | investor@grenke.de |
| Internet: | www.grenke.de |
| ISIN: | DE000A161N30 |
| WKN: | A161N3 |
| Indices: | SDAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate BSX |
| LEI Code: | 529900BHRYZ464GFD289 |
| EQS News ID: | 2433338 |
| End of News | EQS News Service |
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en | DE000A161N30 | GRENKE AG | boerse | 70495347 |
