German leasing company GRENKE has achieved the highest ranking in this year’s corporate governance assessment in the SDAX market segment in the German Association for Financial Analysis and Asset Management (DVFA) Scorecard.
The DVFA’s annual scorecard awarded Grenke 83.14% of the points, marking a notable improvement from last year’s 78.07%.
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This achievement places Grenke at the forefront of the SDAX and marks 18th among the 151 companies evaluated across the DAX, MDAX, and SDAX, the firm said.
The DVFA Scorecard is a benchmark that assesses the quality of corporate governance among companies listed in Germany’s leading stock indices.
In a press statement, the company said: “In addition to its top position in the SDAX, this puts Grenke in 18th place among the 151 companies evaluated (2023: SDAX third place; overall 36th place).”
In Q3 2024, Grenke registered earnings of €12m, a 50% decrease from €24m in the same quarter last year. Earnings stood at €57m in the first nine months of 2024, representing an 11.5% year-on-year drop.
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By GlobalDataThe drop was due to higher expenses for the settlement of claims and risk provisioning, with expenses amounting to €37.8m in Q3 2024 owing to rising increasing insolvencies.
However, the growth of leasing new business resulted in a 7.4% growth in the company’s net interest income in Q3 2024.
