Grenke : New business leasing growth will need to set free positive operating leverage
>Reported net profit below expectation triggered by one-offs - Grenke reported group net profit (before hybrid dividend and minorities) of € 15.9m (down by 22.6% y-o-y) for Q1 2023 and thus below € 17.3m consensus and our € 19.2m estimate. The quarterly result was burdened by a € 3.0m negative one-off related to FX hedges and by a € 1.6m negative one-off related to fixed income derivatives used for hedging purposes. Grenke reiterated its outlook for € 80m to € 90m gro...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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