Grenke : Disappointing new business volumes and outlook triggers downgrade
>Disappointing new business volumes for leasing business - New leasing business declined by 28.1% y-o-y to € 372.2m in Q3 2021. We had expected at least a flattish development y-o-y matching the ‘strong’ Q3 2020 in the COVID context. GRENKE refers to global supply bottlenecks, specifically at manufacturers of computer and office equipment which were the cause of the weaker year-on-year new leasing business. As a result, the company has adjusted its guidance for new le...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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