Grenke AG (GKSGF) Q4 2024 Earnings Call Transcript

2025-03-14 17:04:04 ET

Grenke AG (GKSGF)

Q4 2024 Results Conference Call

March 13, 2025 05:00 AM ET

Company Participants

Franziska Randt - Head of Investor Relations

Sebastian Hirsch - Chief Executive Officer

Martin Paal - Chief Financial Officer

Conference Call Participants

Johannes Thormann - HSBC

Presentation

Franziska Randt

Welcome, ladies and gentlemen, and thank you for joining our earnings call regarding the publication of our annual figures for 2024. My name is Franziska Randt. I'm Head of the IR department. And I'm pleased to say that today here with me is our CEO, Dr. Sebastian Hirsch; and our CFO, Dr. Martin Paal. Welcome.

We will start with the presentations, and right after, we will enter into our Q&A session. [Operator Instructions]

With that, I would now like to pass the call on to Sebastian. Go ahead.

Sebastian Hirsch

Thank you, Franziska. And also a warm welcome from my side. Thanks for joining our earnings call today. First, let me introduce Franziska in the new role of Vice President, Investor Relations. All the best for you, Franziska.

I'm sure you will support us as you did in the last years, and I'm very happy that you are here today with me and Martin.

Franziska Randt

Thank you.

Sebastian Hirsch

But now let's start with our earnings call. Ladies and gentlemen, 2024 was a year of contrast for us. On the one hand, we were able to report major successes. On the other hand, we suffered a setback toward the end of the year. '24 was marked by an overall challenging operating environment due to a tense business climate, macro uncertainties and tightening lending standards for companies.

On top, and sadly, I might add, geopolitical conflicts continue to persist. At the same time, '24 was also impacted by a steep increase in insolvencies in the middle of the year and an increase which also had an impact on our own numbers....

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