Arguments for a More Stable Outlook

GRENKE AG, a global financing partner for small and medium-sized enterprises, generated net profit of EUR 20.5 million in the first quarter of 2022 (Q1 2021: EUR 14.0 million), corresponding to an increase of 46.8% compared to the first quarter of 2021. However, it is questionable whether this and the company’s results presented below are sufficient to change the negative outlook, which was determined by both rating agencies, to a stable outlook or even a positive outlook.

Standard & Poor’s BBB+ / A-2 negative, December 2021

GBB Rating A- / – negative July 2021

The compliance history, which had led to great uncertainty, still weighs heavily on the company. In particular, the confidence of the minority shareholders must be secured.

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