DGAP-News: GRENKELEASING AG: The GRENKE Board of Directors

DGAP-News: GRENKELEASING AG / Key word(s): AGM/EGM GRENKELEASING AG: The GRENKE Board of Directors reports successful fiscal year - Shareholders resolve to increase dividend to EUR 1.10 per share 12.05.2015 / 16:37 --------------------------------------------------------------------- The GRENKE Board of Directors reports successful fiscal year - Shareholders resolve to increase dividend to EUR 1.10 per share - GRENKE shareholders resolve to increase the dividend to EUR 1.10 per share - The Board of Directors and Supervisory Board are granted a discharge - GRENKE increases the proportion of women on its Supervisory Board - Resolution approved for new authorised capital - Conversion to registered shares enhances financial communication Baden-Baden, May 12, 2015: At today's Annual General Meeting, the shareholders of GRENKELEASING AG resolved the distribution of a dividend for the 2014 fiscal year in the amount of EUR 1.10 per share (previous year: EUR 1.00) based on the positive results of the past fiscal year and the confidence in the Consolidated Group's further development. The Annual General Meeting granted the members of the Board of Directors and the Supervisory Board a discharge for the 2014 fiscal year. For the appointment of the auditor for the year 2015, the Annual General Meeting followed the recommendation of the management. The terms of office held by the Supervisory Board members Dieter Münch and Prof. Dr. Thilo Wörn ended as planned with the conclusion of the Annual General Meeting. The Supervisory Board and Board of Directors of GRENKELEASING AG extended their appreciation to Mr. Münch and Prof. Dr. Wörn for contributing their valuable experience and for their commitment. Mr. Florian Schulte and Mr. Erwin Staudt were reappointed to the Supervisory Board for another four years. Proposals for two new appointments were also on the meeting's agenda: with the appointment of Ms. Tanja Dreilich and Dr. Ljiljana Mitic, the proportion of women on the Supervisory Board of GRENKELEASING AG rose to more than 30 percent. The attending shareholders approved the agenda item providing for the creation of new authorised capital. This new authorised capital will maintain GRENKE's ability to meet the financial requirements of a globally operating company quickly and in a flexible manner using equity capital. The resolved conversion from bearer shares to registered shares reflects the Company's international orientation. Converting the shares into registered shares also makes it easier for the Company to reliably, transparently and openly communicate with its shareholders. In his speech, which focussed on the successful 2014 fiscal year, the Chairman of the Board of Directors, Wolfgang Grenke, also remarked on the future: "We are optimistic with regard to the growth of our new business volume in view of our competitive strength and excellent market position. In 2015, we expect the new business growth of our leasing business to reach between 11 and 15 percent and the new business growth of our factoring business to achieve a level of between 20 and 24 percent. We are also maintaining our high CM2 target, which is based on the margins achieved over the past several years. In addition to the upcoming cell divisions in European countries, including Germany, we also plan to enter the Irish market through our Factoring segment and start operations in Singapore through our Leasing segment. Given our rising interest income from the strong positive momentum of the new business generated in our Leasing segment in recent years, we expect continued growth in earnings in the 2015 fiscal year with net profit climbing to a range of EUR 71 to EUR 75 million. Earnings will be supported by the continued high margins of our current new business and the strong growth of our factoring business". The Company's Chief Financial Officer (CFO), Jörg Eicker, added: "The financing of our expansion continues to be well secured. We have an excellent position on the capital markets due to our broad range of refinancing instruments. The deposit volumes held at GRENKE Bank grew considerably in 2014, rising 18 percent. Our stable refinancing basis was confirmed by two rating agencies this past October. With a stable equity ratio of 17 percent, we continue to exceed our long-term target range of 16 percent. Despite our optimised risk structure, we maintained our profitability. Our net interest income grew a pleasing 21 percent year-on-year and, at EUR 65 million, we increased our net profit by 38 percent in comparison to the previous fiscal year." Around 250 shareholders took part in the Annual General Meeting. The shareholder presence at the time of voting was 84.3%. The Company had invited a number of pupils to its Annual General Meeting: the winners of Sparkasse Baden-Baden-Gaggenau's stock exchange business game, the pupils of the Markgraf-Ludwig High School Baden-Baden and the Richard-Wagner High School Baden-Baden - as part of its ongoing "Wirtschaft macht Schule" cooperation - as well as the pupils of the Goethe High School Gaggenau. The Board of Directors Should you have any queries, please contact: GRENKELEASING AG Corporate Communications / Investor Relations Renate Hauss Neuer Markt 2 76532 Baden-Baden, Germany Tel.: +49 7221 5007-204 E-mail: investor@grenke.de Internet: http://www.grenke.de The GRENKE Group The GRENKE Group is a broadly diversified provider of IT-based services in Small-Ticket-IT-Leasing, Factoring and Banking for small and medium-sized companies. In addition, the GRENKE Bank offers its classic online services also to private customers. The GRENKE Group is independent of vendors and banks and holds a leading market position in Europe in the field of small-ticket IT leasing for products such as PCs, notebooks, copiers, printers, or software of relatively low asset value. The GRENKE Group operates in 29 countries and employs more than 900 staff. GRENKELEASING AG is listed in the Prime Standard of the Frankfurt Stock Exchange and is included in the SDAX. GRENKELEASING AG shares are listed in the SDAX on the Frankfurt Stock Exchange with the code GLJ, ISIN DE0005865901. Information on the GRENKE Group and its products is available at http://www.grenke.de --------------------------------------------------------------------- 12.05.2015 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: GRENKELEASING 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: DE0005865901 WKN: 586590 Indices: SDAX Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 356729 12.05.2015