EQS-News: GRENKE starts year with a strong Contribution Margin 2 in Q1 2024
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Mittwoch, April 10, 2024
New leasing business increases 9.8% to EUR 669.8 million (Q1 2023: EUR 610.2 million)
Key Points:
- New leasing business increases 9.8% to EUR 669.8 million (Q1 2023: EUR 610.2 million)
Contribution margin 2 (CM2) expands 10.4% to EUR 112.7 million (Q1 2023: EUR 102.0 million)
CM2 margin reaches 16.8% (Q1 2023: 16.7%)
Baden-Baden, April 4, 2024: GRENKE AG, a global financing partner for small and medium-sized enterprises, increased its new leasing business by 9.8% to EUR 669.8 million in the first quarter of 2024 (Q1 2023: EUR 610.2 million), in a continuation of its growth trend. - The contribution margin 2 (CM2) – an indicator of new business profitability – increased 10.4% to EUR 112.7 million (Q1 2023: EUR 102.0 million).
- As a result, GRENKE increased its CM2 margin to 16.8% (Q1 2023: 16.7%) and thereby achieved its medium-term target of around 17%.
- GRENKE Bank’s new lending business, which largely consists of the microcredit business, totalled EUR 8.7 million in the first quarter of 2024 (Q1 2023: EUR 12.8 million).