Grenke : 2022 prelims in line - Outlook disappoints on higher investment spending needs for digitalisation
>FY 2022 prelims in line with expectations - Grenke reported preliminary 2022 results in line with estimates. The outlook disappoints driven by additional expenses for workflow digitalisation. The consolidated net profit (before minorities and hybrid dividend) came to € 84.2m and was thus broadly in line with our € 85.5m estimate and € 84.3m consensus estimate. Guidance was € 75m to € 85m. The DPS proposal stands at € 0.45 and thus below our € 0.51 estimate and € 0.48...Grenkeleasing is engaged in providing financial services in three business segments: Leasing, Banking and Factoring. Leasing: Co.'s financing activities are focused on small-ticket IT leasing. Co. finances a wide range of goods, primarily in the area of information technology on IT equipment and systems and software. Banking: Through GRenke Bank AG, Co. provides financing products for small and medium sized enterprises focused on German customers, including lower-volume receivables (factoring) and car leasing. Co. also offers payment transactions and investment products. Factoring: Co. performs traditional factoring services in Germany and is a financial service provider. .
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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