Please note that this website shows an excerpt from the grenke AG Annual Report 2024. The annual report, which is also available in the “Reports & Presentations” section of the grenke AG website, prevails.

In 2024, grenke AG’s share price remained volatile amid a challenging capital market environment. The stock opened at EUR 25.30 on January 2, 2024, initially declining slightly to EUR 24.40 on February 6, 2024. On that day, we announced the approval from the German Federal Financial Supervisory Authority (BaFin) for our planned share buyback programme, allowing us to repurchase shares of up to EUR 70 million. Following a temporary dip, the stock rebounded after the release of our full-year financial results on March 7, 2024, reaching EUR 24.80 on March 27, 2024. It then declined again, hitting a temporary low of EUR 20.15 on June 14, 2024. However, the publication of new business figures for the second quarter on July 3, 2024, sparked an upward trend, peaking at the year’s high of EUR 28.55 on July 31, 2024. Due to the unfortunate coincidence of the announcement of Isabel Rösler’s departure from the Board of Directors at the end of the 2024 financial year and a BaFin notification on ensuring proper corporate governance at grenke Bank, the share price fell to EUR 21.70 on September 6, 2024. After a subsequent recovery to EUR 26.90 on October 17, 2024, the Board of Directors issued an ad hoc statement on October 29, 2024 announcing an adjustment to the Group earnings forecast to EUR 68 to 76 million, from the previous range of EUR 95 to 115 million. As a result, the stock declined until the end of the financial year, reaching a low for the year of EUR 15.04 on December 19, 2024, and closing at EUR 15.42 on December 30, 2024. This amounted to a 39 percent decline over the course of 2024. With a total of 46,495,573 registered shares, the market capitalisation of grenke AG equalled EUR 717 million as of December 31, 2024. As of December 31, 2024, the embedded value (net asset value) amounted to EUR 1,719 million. It encompasses the equity, as well as the present value of expected future cash flows from the existing business, serving as an economic benchmark for valuation. Based on this amount, the net asset value per share equals EUR 38.91.

*  General partner: Grenke Vermögensverwaltung GmbH
    Limited partners: The Grenke Family (Wolfgang, Anneliese, Moritz, Roland, Oliver Grenke)

Grenke Beteiligung GmbH & Co. KG and grenke AG have entered into a prophylactic control termination agreement. You can view its content here. 

The above information is not guaranteed and based on the voting right notifications received by the Company in accordance with the German Securities Trading Act (WPHG).

As a family-owned company with strong medium-sized business roots, we have a major shareholder in Grenke Beteiligung GmbH & Co. KG, which is owned by Anneliese Grenke, Company founder Wolfgang Grenke, and their three adult sons, Moritz, Roland, and Oliver Grenke. As of December 31, 2024, Grenke Beteiligung GmbH & Co. KG held 40.84 percent of the Company’s shares, while the GRENKE Foundation owned 3.03 percent. Following the completion of the share buyback programme on September 30, 2024, grenke AG held 4.98 percent of its own shares. Other shareholders who, as of the respective publication date of their voting rights notification, held more than 3 percent of the shares were: ACATIS Investment Kapitalverwaltungsgesellschaft mbH (5.02 percent); GANÉ Investment AG with segregated sub-fund assets (3.04 percent); and Universal Investment Gesellschaft mbH (5.03 percent). The free float, as defined by Section 5.7.2 of the current DAX Equity Index Methodology Guide, amounted to 59.16 percent. The shareholding of the Board of Directors and Supervisory Board as of the reporting date was approximately 0.2 percent. The individual shareholdings of the members of the Board of Directors and Supervisory Board can be found in the table in Chapter 8.6 Shareholdings of the Board of Directors and Supervisory Board, contained in the Corporate Governance Statement.

On April 30, 2024, grenke AG held its ordinary Annual General Meeting as an in-person event, as in the previous year. A total of 33,672,724 votes, including absentee votes, were represented, accounting for 72.4 percent of the Company’s share capital. Shareholders approved the proposal by the Supervisory Board and Board of Directors to distribute a dividend of EUR 0.47, amounting to a total payout of EUR 21.9 million and a payout ratio of 24.9 percent of Group earnings. For years, grenke AG has maintained a stable dividend policy, aiming to distribute approximately one-quarter of Group earnings. For the 2024 financial year, the Supervisory Board and Board of Directors are proposing a dividend of EUR 0.40 per share, representing a payout ratio of 25 percent.

The Deputy Chair of the Supervisory Board, Dr Konstantin Mettenheimer, left the Board at the end of the Annual General Meeting as scheduled. Manfred Piontke was elected as a new member of the Supervisory Board for a term of three years. Following the Annual General Meeting, the Supervisory Board elected Moritz Grenke as its Deputy Chair during its meeting. More details on the composition of the Supervisory Board can be found in Chapter 8.2.2 Supervisory Board, in the Corporate Governance Statement.