With the latest quarterly figures, the Grenke share seems to have overcome the multi-month downward trend. Between May and October, the financial services provider’s paper had collapsed from more than 30 euros to less than 20 euros – recently, the revised forecast for 2024 had weighed on the Grenke share.

But now the trend for the title is pointing upwards again. With a share price increase of 14 percent since the publication of the quarterly figures on November 9, the turnaround appears to have been achieved (as of November 20, approx. 12 pm). On the one hand, Grenke has presented strong Q3 figures, on the other hand, it has also specified the forecast for the current year.

Grenke with growth in Q3 In the months from July to the end of September, Grenke was able to increase its operating revenues by almost 20 percent to just under 120 million euros. At the same time, a consolidated profit of just under 24 million euros remained – 18 percent more than in the previous year. Earnings per share have risen slightly from 0.50 euros to 0.53 euros. Compared to the first half of the year, Q3 showed a higher growth dynamic.

As part of the quarterly figures, Grenke also confirmed the forecasts for the current year. Leasing new business is expected to land in the lower half of the forecast range of 2.6 to 2.8 billion euros, with a profit in the upper range of 80 to 90 million euros. For 2024, Grenke has also confirmed the revised forecast (new business between 3.0 and 3.2 billion euros, profit between 95 and 115 million euros).

Grenke share with potential – also due to the weak share price development Grenke can grow profitably in 2023 and a further increase in profits is also forecast for the coming year 2024 – this is however not reflected in the share price development of the Grenke share in the past months. Above all, the long-term chart shows the weak performance of the paper in recent years.

Grenke share, 10 years – Source: https://aktienscreener.com/

Part of the cause is still today the accusation of incorrect accounting by a short seller in 2020, which was ultimately refuted by the Bafin. For investors, this means: at the current level, there are still opportunities with the Grenke share. The catch-up potential is definitely there, especially in view of the good business development even in times of economic difficulty.