EQS-Adhoc: grenke reduces Group earnings guidance
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EQS-Ad-hoc: grenke AG / Key word(s): Profit Warning grenke reduces Group earnings guidance Baden-Baden, October 29, 2024: grenke AG is experiencing higher expenses for the settlement of claims and risk provisioning and is therefore adjusting its guidance for Group earnings for the 2024 financial year. The Company now expects Group earnings in the range of EUR 68 million to EUR 76 million for the 2024 financial year (previously EUR 95 million to EUR 115 million). The cause for the guidance adjustment is the continuously rising number of insolvencies, especially in the core markets of France, Spain, and Germany. As a result, the amount of the settlement of claims and risk provisioning has increased from EUR 26.7 million in the first quarter and EUR 28.3 million in the second quarter to EUR 37.8 million in the third quarter of the current financial year. In the fourth quarter, the settlement of claims and risk provisioning is expected to be at a similar level as in the third quarter of 2024. The loss rate has increased from 1.1% in the first half-year to 1.5% in the third quarter of 2024. In line with the higher settlement of claims and risk provisioning, the goodwill for the Spanish subsidiary, amounting to EUR 4.4 million in the third quarter, will be written off in full. Group earnings for the third quarter will be EUR 12.0 million due to these two extraordinary effects (compared to EUR 19.8 million in the first quarter and EUR 25.2 million in the second quarter of 2024). The forecast for new business in the 2024 financial year of EUR 3.0 billion to EUR 3.2 billion remains unchanged. grenke AG will soon publish preliminary figures for the third quarter of 2024 and make them available for viewing and download on the Company’s website. grenke will be holding a conference call on October 30, 2024, at 11:00 am CET. Further information is available from Investor contact Anke Linnartz Press contact Stefan Wichmann End of Inside Information
29-Oct-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| 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 Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 2018559 |
| End of Announcement | EQS News Service |
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2018559 29-Oct-2024 CET/CEST
Boersengefluester.de (BGFL) provides an overview of the key figures on sales, earnings, cash flow and dividends to help you better assess the fundamental development of the respective companies. All information is entered manually in our database - the source is the respective annual reports. All estimates for future figures are provided by BGFL.
| The most important financial data at a glance | ||||||||
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024e | ||
| Sales1 | 2.936,64 | 3.512,49 | 2.675,70 | 2.358,74 | 3.083,36 | 3.419,82 | 0,00 | |
| EBITDA1,2 | 174,38 | 203,03 | 153,99 | 163,99 | 130,44 | 139,98 | 0,00 | |
| EBITDA-Margin3 | 5,94 | 5,78 | 5,76 | 6,95 | 4,23 | 4,09 | 0,00 | |
| EBIT1,4 | 157,16 | 170,00 | 125,12 | 132,51 | 97,98 | 112,91 | 0,00 | |
| EBIT-Margin5 | 5,35 | 4,84 | 4,68 | 5,62 | 3,18 | 3,30 | 0,00 | |
| Net Profit (Loss)1 | 131,11 | 135,90 | 88,44 | 95,19 | 84,18 | 86,71 | 72,00 | |
| Net-Margin6 | 4,47 | 3,87 | 3,31 | 4,04 | 2,73 | 2,54 | 0,00 | |
| Cashflow1,7 | 53,66 | 140,75 | 586,62 | -72,04 | -346,84 | 329,25 | 0,00 | |
| Earnings per share8 | 2,78 | 2,95 | 1,86 | 1,94 | 1,75 | 1,79 | 1,55 | |
| Dividend per share8 | 0,80 | 0,80 | 0,26 | 0,51 | 0,45 | 0,47 | 0,47 | |
1 in Mio. Euro; 2 EBITDA = Earnings before interest, taxes, depreciation and amortisation; 3 EBITDA in relation to sales; 4 EBIT = Earnings before interest and taxes; 5 EBIT in relation to sales; 6 Net profit (-loss) in relation to sales; 7 Cashflow from operations; 8 in Euro; Source: boersengefluester.de
Auditor: BDO
All relevant valuation ratios, dates and other investor information on your share at a glance. Good to know: All data comes from boersengefluester.de and is updated daily. This means you are always up to date. You can get brief explanations of the key figures by moving the cursor or mouse over the relevant field.
| INVESTOR-INFORMATION | ||||||
| ©boersengefluester.de | ||||||
| Grenke | ||||||
| WKN | ISIN | Legal Type | Marketcap | IPO | Recommendation | Plus Code |
| A161N3 | DE000A161N30 | AG | 709,52 Mio € | 04.04.2000 | - | 8FWCQ5VV+XH |
| PE 2025e | PE 10Y-Ø | BGFL-Ratio | Shiller-PE | PB | PCF | KUV |
| 7,63 | 21,42 | 0,36 | 6,90 | 0,62 | 2,15 | 0,21 |
|
Dividend '2022 in € |
Dividend '2023 in € |
Dividend '2024e in € |
Div.-Yield '2024e in % |
| 0,45 | 0,47 | 0,47 | 3,08% |
| Annual General Meeting | Q1-figures | Q2-figures | Q3-figures | Annual press conference |
| 07.05.2025 | 15.05.2025 | 14.08.2025 | 14.11.2024 | 13.03.2025 |
| Distance 60-days-line | Distance 200-days-line | Performance YtD | Performance 52 weeks | IPO |
| -22,99% | -32,04% | -39,08% | -38,71% | +141,07% |
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