From Yahoo Finance: 2025-04-29 10:27:00

German leasing company Grenke reported a significant drop in Q1 2025 earnings due to increased expenses for claims and risk provision. Group earnings after taxes fell to €10.2m from €19.8m last year. Operating result rose by 20% to €67m. Cost-income ratio improved to 56.8%. Expenses for claims surged to €47.6m.

Despite the earnings decline, Grenke maintained its full-year forecast, supported by high-margin new business and solid operating income in Q1. The company plans to release its full quarterly statement with final figures on 15 May 2025. Earlier, Grenke saw a 10.6% increase in new leasing business, totaling €740.6m.

IT equipment leases, such as laptops and software, accounted for 29.3% of all contracts. Grenke, a financing partner for small and medium-sized enterprises, offers small-ticket leasing and banking services. Founded in 1978, the company operates in over 30 countries and has around 2,200 employees.

Read more: Grenke reports decline in Q1 earnings amid higher risk provision costs