Grenke : Q1 2021 burdened by COVID-19 effects and extraordinary costs
>New business reflects COVID-19 impact and risk aversion - In April, GRENKE reported that new business leasing was down by 46.3% y-o-y to € 365.8m and new business factoring declined by 9.5% y-o-y to € 155.4m. The decline in new business was driven by COVID-19 related demand effects and stronger risk aversion in the underwriting process leading to an improvement in the CM2 margin from 18.2% in Q1 2020 to 19.5% in Q1 2021. Management stated that in April and May 2021 n...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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