- GRENKE Group Leasing’s new business in 2015 totalled EUR 1,359.9 million for a year-on-year rise of 20.1%
- GRENKE Group Factoring’s new business in 2015 reached EUR 324.6 million for a year-on-year increase of 55.5%
- GRENKE Bank’s business start-up financing in 2015 reached EUR 19.6 million for year-on-year growth of 72.8%
Baden-Baden, January 5, 2016: In 2015, the new business volume of GRENKE Group Leasing (including franchise partners) – that is, the total acquisition cost of newly purchased leased assets – amounted to EUR 1,359.9 million (2014: EUR 1,132.8 million), corresponding to a rise of 20.1%. As a result, we exceeded our growth forecast of 11 – 15%. GRENKE Group Factoring’s new business (including franchise partners) – that is, the total of purchased receivables – amounted to EUR 324.6 million (2014: EUR 208.8 million) in 2015. This is equivalent to a 55.5% increase. The new business volume of the GRENKE Group (including franchise partners) amounted to EUR 1,704.1 million (2014: EUR 1,352.9 million) for growth of 26.0%.
The contribution margin 2 of the Leasing segment’s new business reached EUR 245.5 million in 2015 (2014: EUR 218.4 million) amounting to a rise of 12.4%. The CM2 margin of the Leasing segment in 2015 was 18.1% (2014: 19.3%). The CM1 margin (contribution margin 1 at acquisition values) of the Leasing segment totalled 13.5% in 2015 and achieved a value of EUR 184.2 million (2014: 13.7% or EUR 154.8 million). The attractive contribution margin resulted from the consistent application of our business model, our targeted entry into new markets and the ongoing favourable interest rate environment.
The international share of GRENKE Group’s new business in 2015 amounted to 71.7% compared to 70.1% in the previous year’s period.
Our Leasing segment’s new business in our home market of Germany increased again (18.3%) from an already high level. We generated double-digit growth (10.3%) in our core market of France despite intense competition. The growth trend also continued in our other key markets, Italy (40.6%), the UK (14.6%) and Switzerland (25.0%).
In 2015, we completed five cell divisions and now have 28 locations in Germany and a total of 85 locations internationally. In the fourth quarter of 2015, we entered our first market in South East Asia with the conclusion of a franchise contract in Singapore. In our Factoring segment, we completed our entry into the Irish market.
In 2015, the GRENKE Group recorded 355,273 lease applications (289,578 thereof were international), which generated 159,000 new lease contracts (125,469 thereof were international). The mean term per lease contract amounted to EUR 8,553 and was moderately higher than its level in the previous year (2014: EUR 8,163) but was still at a low level, which is typical for our business.
In 2015, the GRENKE Group’s (Leasing segment) conversion rate (applications into contracts) was 45%. The conversion rate in our international markets was 43%, which was lower than the rate in the German market (51%).
In the Factoring segment, we achieved a 55.5% rise in new business volume. The income margin on the EUR 124.1 million in new business volume generated in Germany was 2.08% (2014: 2.01%). The income margin on new business volume of EUR 200.6 million generated in our international markets amounted to 1.36% (2014: 1.92%). This margin relates to the average period for a factoring transaction in Germany of approximately 39 days (2014: approx. 34 days) and 25 days in our international markets (2014: approx. 21 days).
The development of GRENKE Bank’s business start-up financing, including the microcredit business, was more than favourable growing 72.8% in comparison to the previous year and reached a total volume of EUR 19.6 million.
All figures are stated in EUR million (previous year’s figures have been adjusted)