BADEN-BADEN (dpa-AFX) - The leasing specialist Grenke is more optimistic for the current year after a significant increase in profits in the third quarter. Consolidated profit should reach the upper half of the previous target range of 80 to 90 million euros, the SDax-listed company announced in Baden-Baden on Thursday. In the coming year, it should continue to rise to between 95 and 115 million euros. New leasing business in 2023, on the other hand, is only expected to be in the lower half of the forecast range of EUR 2.6 to 2.8 billion. For 2024, the Management Board continues to expect growth to EUR 3 to 3.2 billion.

Grenke has now fully priced in the increased market interest rates, said CEO Sebastian Hirsch. The company's margin is already stable and interest income is rising continuously. In the third quarter, operating income grew by just under 15 percent to a good 109 million euros compared to the same period last year. Consolidated profit increased by 18 percent to 24 million euros./stw/stk