Q1 2025 Grenke AG Earnings Call Transcript

May 15, 2025 / 08:00 AM GMT

Release Date Price: €13.7 (-2.70%)

Transcript

Key Points

Positve

Grenke AG (WBO:GLJ) reported a 10.5% increase in leasing new business volume, reaching €740 million.
The company achieved a strong CM2 margin of 17.6%, surpassing their target of above 16.5%.
Operating income increased by 16.6% year-on-year, demonstrating positive operating leverage.
The cost-com ratio improved from 58.1% to 56.8%, reflecting enhanced cost efficiency.
Cash and cash equivalents stood at €951 million, providing a solid position for future financing needs.

Negative

The loss rate increased to 1.9%, higher than the previous year, though expected to stabilize at 1.6% for the full year.
Group earnings were impacted by elevated expenses for settlement of claims and risk provisions.
The number of insolvencies and defaults remains high, affecting credit quality.
Interest expenses showed a decrease due to one-off effects, but are expected to rise with business growth.
The equity ratio remains stable at 16%, but there are concerns about maintaining it amidst balance sheet growth.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

GLJn.DE - Grenke AG
Q1 2025 Grenke AG Earnings Call
May 15, 2025 / 08:00AM GMT

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Presentation
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Unidentified_1 [1]
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Welcome ladies and gentlemen and thank you for joining our Q1 2025 Bix call. My name is Francis Gerrant. I'm head of the IR department and I have the pleasure to say that today here with me is our CFO, Doctor Martin Pa. Martin, welcome.

We will start with the presentation and right after we will enter into our Q&A session. Before we begin, I would like to inform you of a structural change to the format of our earnings calls for Q1 and Q3 starting this quarter, the prepared remarks and the presentation will be delivered solely by our CFO, Dr. Martin.

This change reflects our intention to emphasize the financial performance and aims to ensure a more data-driven presentation for quarterly results. With that, I will now hand over the

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