GRENKE AG Reports EUR 70.2 Million Profit in 2024

GRENKE AG announced a profit of EUR 70.2 million for the fiscal year 2024, despite a decline from EUR 86.7 million in 2023. The company's new leasing business hit EUR 3.1 billion, surpassing the EUR 3 billion mark. This performance aligns with the revised expectations of EUR 68 to 76 million.

The proposed dividend is EUR 0.40 per share, down from EUR 0.47 in the previous year. For 2025, GRENKE forecasts new business between EUR 3.2 and 3.4 billion, and earnings of EUR 71 to 81 million. The CM2 margin improved to 17.0%.

Increased interest income boosted operating income by 10.2% to EUR 576.0 million. However, higher risk provisioning due to rising insolvencies in key markets impacted finances. Operating expenses rose to EUR 341.0 million with a cost-income ratio of 59.2%.

GRENKE plans to enhance refinancing conditions in 2025, supported by previous successes in bond placements. The company anticipates continued growth in new business and earnings.