EQS-Adhoc 125 0 Kommentare GRENKE INTENDS TO SELL FACTORING COMPANIES

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GRENKE intends to sell factoring companies.
The decision is based on the lack of anticipated synergies and profitability.
GRENKE will focus on leasing business, digitalization, and growth.

EQS-Ad-hoc: GRENKE AG / Key word(s): Strategic Company Decision/Disposal
GRENKE INTENDS TO SELL FACTORING COMPANIES

31-Jan-2024 / 20:13 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

GRENKE intends to sell factoring Companies

Baden-Baden, 31.01.2024: The Supervisory Board of GRENKE AG today approved the Board of Directors' de-cision to focus on the leasing business with small and medium-sized companies in the future and initiate the sale of all factoring companies. The synergies with the core leasing business that were anticipated at the time of entering the factoring business have not materialised. Furthermore, a detailed analysis has shown that the existing factoring business could only be operated profitably in the long term with additional investments and a multi-fold increase in business volume (assets from the factoring business represented less than 2 percent of the consoli-dated statement of financial position in 2022). Instead of implementing a standalone factoring strategy separate from the leasing business, GRENKE intends to fully focus its resources and investments on advancing digitalisa-tion and growth in the leasing business. GRENKE BANK AG's banking business will continue to play a key role in this context, particularly in terms of securing refinancing via deposits.


Investor contact Anke Linnartz Neuer Markt 2 76532 Baden-Baden +49 7221 5007-204 investor@grenke.de	Presse contact Stefan Wichmann Neuer Markt 2 76532 Baden-Baden +49 171 2020300 presse@grenke.de

End of Inside Information

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Language:	English
Company:	GRENKE AG
	Neuer Markt 2
	76532 Baden-Baden
	Germany
Phone:	+49 (0)7221 50 07-204
Fax:	+49 (0)7221 50 07-4218
E-mail:	investor@grenke.de
Internet:	www.grenke.de
ISIN:	DE000A161N30
WKN:	A161N3
Indices:	SDAX
Listed:	Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID:	1827529