EQS-News: grenke reaffirms preliminary quarterly figures

• Preliminary income statement figures from April 29, 2025 reaffirmed
• Group earnings in the first three months of the financial year at EUR 10.2 million (Q1 2024: EUR 19.8 million)
• Settlement of claims and risk provision higher year-on-year due to base effects 
• Forecast for 2025 reaffirmed

Baden-Baden, May 15, 2025: grenke AG, a global financing partner for small and medium-sized enterprises, reaffirms the preliminary income statement figures presented on April 29 and today published its full quarterly statement for the first quarter of 2025. Group earnings in the first quarter of the financial year amounted to EUR 10.2 million (Q1 2024: EUR 19.8 million). As previously announced, the year-on-year decline resulted from the forecasted increase in expenses for settlement of claims and risk provision compared to the same quarter of the prior year, which will also weigh on our year-on-year earnings development in the second quarter. As a result, the loss rate increased, while the cost-income ratio (CIR) improved compared to both the prior-year quarter and the previous year.

Dr Sebastian Hirsch, CEO of grenke AG: “We have laid the foundation for a long-term, sustainable increase in our profitability. We are in an excellent position to not only unlock the vast growth potential of global small-ticket leasing but also to translate that growth into rising profits.”

Dr Martin Paal, CFO of grenke AG: “In the first quarter, our operating income grew at a faster pace than our costs. We are confident about the rest of the year, particularly given our earnings strength, which is increasingly evident in the income statement, and are maintaining our forecast.”

Increased income with cost growth as planned in the first quarter of 2025
Interest income rose by EUR 27.7 million (+20.9%) to EUR 159.8 million in the first quarter of 2025 (Q1 2024: EUR 132.1 million). At the same time, interest expenses related to the refinancing of the leasing business increased by EUR 13.9 million to EUR 60.0 million (Q1 2024: EUR 46.1 million). As a result, net interest income (the net difference between interest income and interest expenses) increased by 16.0% to EUR 99.8 million (Q1 2024: EUR 86.1 million).

Driven by the strong growth in profit from new business and profit from service business, income from operating business increased by EUR 22.1 million to EUR 155.0 million (Q1 2024: EUR 132.9 million). At the same time, operating expenses rose by only EUR 10.8 million year-over-year to EUR 88.0 million (Q1 2024: EUR 77.2 million), with staff costs accounting for EUR 51.9 million (Q1 2024: EUR 46.8 million). This led to an improved cost-income ratio of 56.8% (Q1 2024: 58.1%), falling below the target threshold of <60% for the 2025 financial year. The average number of employees at the grenke Group (measured in full-time equivalents) increased as planned by 6.5% to 2,296 (Q1 2024: 2,156 employees).

As a result of the higher income from operating business, operating result before settlement of claims and risk provision rose 20.3% in the first quarter of 2025 to EUR 67.0 million (Q1 2024: EUR 55.7 million).

Due to the continued high number of insolvencies, the result from settlement of claims and risk provision in the first quarter amounted to EUR 47.6 million (Q1 2024: EUR 26.7 million), which was at the level of the quarters in the second half of 2024. Accordingly, the loss rate – the ratio of settlement of claims and risk provision to the volume of leased assets – was just under 1.9% in the first quarter (Q1 2024: 1.1%). The operating result therefore amounted to EUR 14.0 million (Q1 2024: EUR 24.9 million) and Group earnings equalled EUR 10.2 million (Q1 2024: EUR 19.8 million).

Lease receivables increase significantly, equity ratio remains stable
Leasing new business grew 10.6% in the first quarter of 2025 compared to the previous year, reaching EUR 740.6 million (Q1 2024: EUR 669.8 million). This resulted in an increase in lease receivables to EUR 6.7 billion as of the end of Q1 2025 (December 31, 2024: EUR 6.5 billion). The equity ratio equalled 16.0% as of March 31, 2025 (December 31, 2024: 16.1%), remaining within the Company’s target of approximately 16%.

Forecast for 2025 reaffirmed
For the 2025 financial year, grenke continues to expect leasing new business volume in the range of EUR 3.2 billion to EUR 3.4 billion and Group earnings of EUR 71 million to EUR 81 million.

The Quarterly Statement for Q1 2025 is available online under “Reports & Presentations”.

 Key figures at a glance (in EUR million)

_{Note: Rounding differences may occur between individual values and the actual figures achieved in euros.}

About grenke
grenke is a global financing partner for small and medium-sized enterprises, offering flexible, fast, and convenient small-ticket leasing and banking services. Through its offers, grenke provides customers financial leeway so they can focus on their own business. Founded in 1978 in Baden-Baden, the Group operates in more than 30 countries and employs approximately 2,300 staff (measured in terms of full-time equivalents) worldwide. grenke is a global leader in small-ticket leasing. grenke shares are listed on the Frankfurt Stock Exchange (ISIN DE000A161N30).