Grenke : Improved Q2 2024 but ongoing high cost growth
>Q2 2024 group net attributable profit of € 26.4m, in line with expectations - Grenke reported Q2 2024 net profit attributable of € 26.4m (up 3.5% y-o-y) which was broadly in line with the € 26.6m consensus and our € 25.5m estimates. H1 2024 group net profit (before minorities and the hybrid dividend came to € 45m (up 11% y-o-y) and covers 47% of the lower end of the unchanged guidance standing at € 95m to € 115. We leave our estimates unchanged for group net profit ...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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