grenke meets annual guidance with EUR 3.3 billion in leasing new business

• Leasing new business in 2025 grows 7.8% year-on-year to EUR 3,294.6 million (2024: EUR 3,057.0 million)
• CM2 margin at 16.7%, in line with guidance (2024: 17.0%)

Baden-Baden, January 7, 2026: grenke AG, a global financing partner for small and medium-sized enterprises, increased its leasing new business in the 2025 financial year by 7.8% year-on-year to EUR 3,294.6 million (2024: EUR 3,057.0 million). grenke has thus met its annual guidance of EUR 3.2 to 3.4 billion leasing new business. Contribution margin 2 (CM2), an indicator of profitability, rose year-on-year by 6.1% to EUR 550.2 million (2024: EUR 518.5 million). The CM2 margin equalled 16.7% (2024: 17.0%) and exceeded the target set for the 2025 financial year of over 16.5%.

Dr Sebastian Hirsch, CEO of grenke AG: “The 2025 financial year brought considerable macroeconomic uncertainty. Against this backdrop, our risk-selective management, with a focus on our robust core markets, has paid off. At the same time, we realized considerable growth in our future markets. We achieved our new business targets and further expanded our international market position, laying the foundation for earnings growth in the years ahead.”

Dr Martin Paal, CFO of grenke AG: “We can look back on a year of solid new business in 2025. At EUR 3.3 billion in new business, we grew as planned, despite continued market volatility. Our CM2 margin of 16.7% was not only within the expected range but also fully incorporated the current significantly higher risk costs.”

Growth across the entire portfolio
In the fourth quarter, the largest category of lease objects, measured by the number of concluded contracts, continued to be the IT equipment category at 29.9%, which primarily includes laptops, IT equipment, and software. The percentage of the total leasing new business concluded in the direct customer business increased in the fourth quarter to 18.9% (Q4 2024: 17.1%). The number of lease applications continued to grow to around 169,000 (Q4 2024: around 160,000), resulting in approximately 82,000 new leasing contracts (Q4 2024: around 81,000). The conversion ratio amounted to 48.7% and was in line with the typical range for our business (Q4 2024: 50.4%). The average ticket size was EUR 10,808 (Q4 2024: EUR 10,638).

Germany and France drive growth
The Western Europe region (without DACH) was the strongest region with growth of 5.9% to EUR 237.3 million (Q4 2024: EUR 224.2 million) and a 26.6% share of leasing new business in the fourth quarter of 2025. Within this region, France, at 20.3%, accounted for the largest share of total leasing new business. With an increase of 11.9% to EUR 217.7 million, the DACH region ranked second in terms of volume (Q4 2024: EUR 194.4 million). Germany contributed the largest share in this region, accounting for 19.6% of the total leasing new business. The Southern Europe region ranked third with an increase of 3.5% and leasing new business volume of EUR 207.9 million (Q4 2024: EUR 200.8 million). Italy, with a 12.4% share of the total new business volume, was the largest market in the fourth quarter in the Southern Europe region.

After a very strong quarter in the prior year, the Northern/Eastern Europe region reported a volume of EUR 163.3 million, which was below the prior-year figure (Q4 2024: EUR 182.7 million). Other Regions, comprising countries outside Europe, recorded strong growth of 15.5% to EUR 65.1 million (Q4 2024: EUR 56.3 million), driven in part by a substantial increase in new business in the USA.

grenke Bank deposits remain stable
As of the December 31, 2025 reporting date, the deposit business totalled EUR 2,315.7 million (December 31, 2024: EUR 2,230.6 million). grenke Bank’s lending new business, which largely consists of microcredit business, held steady at EUR 10.1 million in the reporting period (Q4 2024: EUR 10.5 million).

The sold factoring business recorded new business volume of EUR 189.1 million in the fourth quarter of 2025 (Q4 2024: EUR 234.6 million). The year-on-year decline reflects the partially completed transfer of the factoring business to Teylor AG.

An interview with the Board of Directors, with further insights into the new business figures for the 2025 financial year, is available here.

This and other news can be found on our Investor Relations LinkedIn channel.

Our annual report for the 2025 financial year will be published on March 12, 2026.

New business development at a glance (in EUR millions)

_{Leasing regions: DACH: Austria, Germany, Switzerland
Western Europe without DACH: Belgium, France, Luxembourg, Netherlands
Southern Europe: Croatia, Italy, Malta, Portugal, Slovenia, Spain
Northern/Eastern Europe: Denmark, Finland, Great Britain, Ireland, Latvia, Norway, Sweden | Czech Republic, Hungary, Poland, Romania, Slovakia
Other Regions: Australia, Brazil, Canada, Chile, UAE, USA}
 

_{1 On January 31, 2024, grenke announced its intention to sell the factoring companies. At the beginning of April 2025, an agreement was reached with a buyer (“signing”). Individual local factoring companies will be transferred to the buyer in stages (“closing”).}

 _{²The lending business is offered through grenke Bank AG.}