ots Ad hoc-Service: GRENKELEASING AG Profits continue to show strong growth

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    Baden-Baden (ots Ad hoc-Service) -    

    GRENKELEASING AG, Germany's market leader in the field of small-ticket IT, posts earnings before taxes of EUR 7.0m for the first nine months of 2000 as per September 30. This represents almost a tripling of earnings compared to the same period of the previous year (first 9 months of 1999: EUR 2.5m) and thus outperforms the earnings forecasts for the financial year 2000 after only nine months.

    In this respect, GRENKELEASING benefited particularly from the tax reform, which had an impact upon the determination of deferred taxes. Earnings before taxes grew by 65.3% compared to the same period of the previous year, reaching a figure of EUR 8.7m (first nine months of 1999: EUR 5.3m).

    The group's new business, i.e. the total acquisition costs of newly purchased leasing items, rose by 63.1% over the first nine months reaching a figure of EUR 124m compared to EUR 76m in the same period of the previous year.

    Since this growth will only start to have an impact on earnings over the next three years, the board is very confident that - despite the anticipated costs stemming from the further internationalisation of the business - the present earnings forecasts can be exceeded in the next few years.

    The Board of Management

    Contact Details:

    GRENKELEASING AG, Rheinstrasse 219, 76532 Baden-Baden Renate Hauss Phone: +49 (0) 7221/5007-204 Email: Internet:

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