As expected, Grenke earns less

May 31, 2021, 8:00 p.m.

Baden-Baden (dpa) As expected, the leasing specialist Grenke, who recently struggled with the criticism of his accounting, continued to struggle with the consequences of the corona pandemic in the first quarter. The profit had fallen by 29 percent to 14 million euros, announced the company that is about to return to the SDax on Monday in Baden-Baden. The forecasts for the current year have been confirmed. We are on course, said CFO Sebastian Hirsch. Now we have to get back to normal in order to expand our business again. We expect our new business to pick up in the second half of the year.

Financial service provider Grenke

The logo of the financial service provider Grenke at the headquarters in Baden-Baden.

Since the company had not submitted its 2020 balance sheet in time, the share flew out of the SDax in early May. In mid-May, Grenke received an unqualified certificate from the auditing company KPMG for the consolidated financial statements and has thus at least regained some trust among investors. Experts now expect Grenke to be included again in the small value index in June. Measured against the stock market value of almost 1.8 billion euros, Grenke would be in the middle of the SDax. Before the share price crash last autumn, the company was listed in the MDax small cap index.

dpa-infocom, dpa: 210531-99-801575 / 2

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