Grenke : Back to growth mode in H2 2021e
>Preliminary 2020 results ahead of consensus, outlook on 2021 looks rather conservative - GRENKE reported preliminary results for 2020 which came in ahead of our and the consensus estimates. Group attributable net profit stood at € 79.9m (down 41.2% y-o-y) and compares to € 63.0m consensus and our € 59.4m estimate. The company was facing headwinds from depressed demand for its leasing product and from ongoing special audits (~€ 10m extra costs in 2020) triggered by al...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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