DGAP-News: GRENKELEASING AG: GRENKE publishes preliminary financial results for the 1st quarter of 2014 - The groundwork has been laid for a successful financial year


DGAP-News: GRENKELEASING AG / Key word(s): Preliminary Results/Quarter
Results
GRENKELEASING AG: GRENKE publishes preliminary financial results for
the 1st quarter of 2014 - The groundwork has been laid for a
successful financial year

23.04.2014 / 07:31

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Not for distribution, publication, or dissemination in the USA, Canada,
Australia, or Japan, or any other countries in which such a publication may
be unlawful.

GRENKE publishes preliminary financial results for the 1st quarter of 2014
- The groundwork has been laid for a successful financial year

Baden-Baden, April 23, 2014: In consideration of the ongoing subscription
offer (Scrip Dividend), the Company released its key figures for the first
quarter of 2014 on a preliminary basis in advance. The publication of the
final results and the financial report for the first quarter of 2014 is
still planned for April 29, 2014.

GRENKE expects net interest income of around EUR 36.2 million in the first
quarter of 2014 (Q1-2013: EUR 30.8 million) as a result of a continuation
of the favourable interest rate environment. Expenses for the settlement of
claims and risk provision amounted to approximately EUR 11.8 million
(Q1-2013: EUR 10.9 million). Net interest income after settlement of claims
and risk provision totalled EUR 24.4 million (Q1-2013: EUR 19.9 million).

According to the preliminary results, the operating result came to EUR 19.4
million (Q1-2013: EUR 16.2 million). In view of the above, GRENKE is
currently expecting earnings before taxes for the first quarter of 2014 to
amount to EUR 19.3 million (Q1-2013: EUR 16.1 million). Net profit amounts
to approximately EUR 14.5 million (Q1-2013: EUR 11.5 million).

At the end of the first quarter of 2014, the equity ratio came to 17.0%
after amounting to 16.7% at the end of financial year 2013.

Key figures GRENKE Consolidated Group for the first quarter of 2014
(preliminary) in EUR million

<pre>

                                                Q1-2014   Q1-2013    Change
                                                                       in %
Net interest income                                36.2      30.8      17.5
Settlement of claims and risk provision            11.8      10.9       8.3
Net interest income after settlement of            24.4      19.9      22.6
claims and risk provision
Operating result                                   19.4      16.2      19.8
Earnings before taxes                              19.3      16.1      19.9
Net profit                                         14.5      11.5      26.1


</pre>

The preliminary results for the first quarter of 2014 are ahead of plan and
thus our start in financial year 2014 has been very successful. The Board
of Directors continues to expect a strong business performance and confirms
its forecast for financial year 2014 of a net profit in the range of EUR 52
to EUR 56 million.

All results are preliminary. The full Financial Report for the 1st Quarter
2014 will be published and commented on April 29, 2014 as planned.

Should you have any queries, please contact:

Renate Hauss
Tel.:  +49 7221 5007-204
Fax:  +49 7221 5007-4218
E-mail: investor@grenke.de
Internet:  http://www.grenke.de, http://www.grenkeleasing.de,
http://www.grenkebank.de, http://www.grenkefactoring.de

The GRENKE Group

The GRENKE Group is a broadly diversified provider of IT-based services in
Small-Ticket-IT-Leasing, Factoring and Banking for small and medium-sized
companies. In addition, the GRENKE Bank offers its classic online services
also to private customers.

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 27 countries and
employs more than 900 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 at
http://www.grenke.de

This document is not for publication or distribution, directly or
indirectly, in or into the United States. This document does not constitute
or form part of an offer of securities or subscription rights for sale or
solicitation of an offer to purchase securities or subscription rights in
the United States, Canada, Australia, Japan or in any other jurisdiction
where such offer may be restricted.  The securities and subscription rights
referred to in this document have not been, and will not be, registered
under the US Securities Act of 1933, as amended (the "Securities Act"), and
may not be offered or sold in the United States or to or for the account or
benefit of US persons (as such term is defined in Regulation S under the
Securities Act), except on the basis of an applicable exemption from
registration or in a transaction not subject to the registration
requirements of the Securities Act.  There will be no public offering of
securities and subscription rights in the United States or anywhere else,
except for Germany.


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@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                                             
 
 
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