German independent leasing company GRENKE has released its financial results for 2022, revealing a Consolidated Group net profit of around €84.2 million.

GRENKE has also invested in end-to-end digitalisation in the core leasing business. Their new digitalisation programme includes additional investments of €45 to 50 million over the next three years.

This will occur in over 30 countries over the next three years. Particularly the relatively new subsidiaries located in the future core markets of Australia, Canada and the USA will be equipped with infrastructure to facilitate growth.

The digitalisation programme is based on a transformation to cloud technology. The investment in this technology marks the largest single initiative, amounting to one-third of the funds invested in the programme.

The remaining investments will be distributed across the automation of other processes in the leasing business. An estimated €15 million will be incurred as additional expenses in the current financial year.

CEO Dr Sebastian Hirsch, said: “For GRENKE, digitalisation is turning into a driver of speed, efficiency and growth. We expect net savings from our investments for the first time as early as 2025.”

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“The goal is end-to-end digitalisation of the internal processes in our core leasing business as fully as possible. This will allow us to significantly scale our business in new and existing markets and strengthen our growth. For example, in the future, the processing of a lease application will take just seconds instead of minutes,” Grenke said in a statement.

GRENKE also presented preliminary, unaudited figures for the 2022 financial year. Consolidated Group net profit amounted to €84.2 million (2021: €95.2 million) and was at the upper end of the guidance range of €75 million to €85 million.

Based on this result, the Board of Directors and the Supervisory Board will propose a dividend of €0.45 per share for the 2022 financial year (2021: €0.51). This would correspond to a payout ratio of 25%, which would be in line with the Consolidated Group’s dividend policy.

For the 2023 financial year, GRENKE expects new leasing business in the range of €2.6 billion and €2.8 billion and is targeting Consolidated Group net profit of €80 million to €90 million. For the 2024 financial year, the Board of Directors continues to expect a new leasing business of €3.4 billion.

With the implementation of the digitalisation programme in the years ahead, the Consolidated Group profit in 2024 is anticipated to reach approximately EUR 120 million, instead of €140 million as previously forecast.

The break-even point should be reached as early as the 2025 financial year. This is expected to be the first year when the increase in efficiency reflected in the sales and administrative expenses will exceed the cost of IT investments.

The Annual Report 2022 will be published on March 16, 2023. The Annual Report will be available at

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