Corporate facts and figures

For the 2026 financial year, the Board of Directors expects a growth rate in leasing new business of approximately 10 percent. Based on the 2025 financial year, this corresponds to leasing new business of between EUR 3.4 and 3.6 billion.

The target for the 2026 financial year is a CM2 margin of more than 16.5 percent. Key factors in achieving this goal include, refinancing costs, the terms of newly signed leasing contracts, and the average ticket size. For the 2026 financial year, the average value per leasing contract is expected to remain around EUR 10,000. The focus on small tickets remains a core part of our strategy.

The Board of Directors’ overall expectation for the 2026 financial year is for continued positive earnings development, comprising net interest income, profit from the service business, profit from new business and gains/losses from disposals.

The strong leasing new business in recent years provides a solid foundation for earnings growth in 2026. The guidance for the 2026 financial year is Group earnings in the range of EUR 74 and 86 million. However, the persistently high volatility in the current macroeconomic and geopolitical environment may have a significant impact, particularly on insolvency trends and the resulting potential fluctuations in the loss rate. The current earnings guidance range for the 2026 financial year is therefore based on a full-year loss rate of between 1.6 and 1.7 percent. This is slightly above the long-term average level of 1.5 percent.

Based on these earnings expectations, the cost-income ratio (CIR) is expected to be around 55 percent. In the medium term, we are targeting a CIR of below 55 percent, driven in part by efficiency gains resulting from increasing digitalisation.

For the 2026 financial year, the Board of Directors intends to maintain its long-term dividend policy with a payout ratio of 25 percent.

As a result of the planned development of new business, total lease receivables, which are the basis for interest income, are expected to increase in the 2026 financial year. Total assets are projected to increase accordingly. Based on the anticipated development of Group earnings, grenke is planning with an equity ratio of approximately 15 percent (December 31, 2025: 15.6 percent), thereby meeting both the regulatory and rating requirements. This level serves as a benchmark rather than a strict capital management threshold for the Group.