Leasing, banking, factoring: Spotlight on mid-size companies · Leasing, banking, factoring: ......

Leasing, banking, factoring:

Spotlight on mid-size companies

110410_poth_imagebroschüre_englisch_Layout 1 18.04.11 10:56 Seite 1

Wolfgang GrenkeFounder and Chairman of the Board of Directors

of GRENKELEASING AG

At the GRENKE Group, our goal is to support small and mid-sized companies throughout Europe. Providingfinancial services tailored to the specific requirements and opportunities of this sector, we offer our cus-tomers a reliable partnership.

Throughout its 30-year history, our business has continually grown, first within Germany, then inter-nationally. By expanding systematically yet sustainably we have secured a leading position in the Europeansmall-ticket IT leasing market while staying true to our values, which have remained constant since ourfounding in 1978.

We take a personal approach to our work. We believe that traditional values such as transparency, fairnessand honesty still hold true and we strive to ensure that these continue to underpin our relationships withcustomers, partners and shareholders. But our outlook also remains progressive, as is apparent from ourinnovative products and sustainable growth. The reputation of the GRENKE brand is a key consideration ineverything we do and how we do it. Further, as a part of the community we take our responsibilities to so-ciety very seriously, as demonstrated by our support for community and cultural activities.

I am delighted you have taken the time to pick up this brochure, and invite you to read on and discover themany strings to GRENKE’s bow.

Sincerely,Wolfgang Grenke

1


A vision becomes business reality

Entrepreneurs are visionaries. In 1978, WolfgangGrenke realised that there was a market for leasinggeneral office technology that was completely un-tapped. This prompted him to found the GRENKE com-pany in Baden-Baden. It was the beginning of asuccess story with many exciting chapters to follow.

In the first year, he and two employees partneredwith 21 specialist reseller partners and managed 198leasing contracts. It was clear to him that leasing ITand office equipment, mainly “small-ticket” itemswith a relatively low purchase price, was a niche mar-ket with huge potential.

In 1990, GRENKE was one of the first leasing com-panies to establish a business in former East Berlin.Over the next six years, an additional eight branchesfollowed in Germany as well as the establishment ofthe first operation outside Germany in Austria.GRENKE then expanded into the markets of Switzer-land, France, the Netherlands and Italy.

GRENKE was converted to a public limited companyin December 1997, and was traded on the stock mar-ket for the first time in April 2000. Since March2003, GRENKELEASING AG has been listed on theSDAX exchange. Throughout these developments,the organisation has remained true to its originalphilosophy and strategic concept.

One of the most important events of the past fiscalyear was the renewed confirmation of GRENKELEAS-ING AG’s rating by Standard & Poor’s in December2010. The company’s long-term rating is BBB+ witha stable outlook and a short-term rating of A-2.

This has remained unchanged since 2003 and thefact that we have continued to enjoy an excellentstanding on capital markets, even during and in theaftermath of the global financial crisis, is a majoraccomplishment. It underlines the stability of ourbusiness model and the sustainable success of ourstrategy.

History of the GRENKE Group

1978 1990 1997 1998 2000

Business foundedin Baden-Baden byWolfgang Grenke

First branchestablished;

creation of theGRENKE Group

Foundation ofGRENKELEASING AG

First certification to DIN EN ISO

9001:1994(today 9001:2008)

Initial publicoffering

First internationalcompanies formed


Our expertise is the result of 30 years’ experience

GRENKE did not become a leading financial special-ist in small-ticket IT leasing overnight. It has takenmore than 30 years to gain the necessary experi-ence and skill. Today, GRENKE operates throughoutEurope, enjoying consistent healthy growth.

This is because GRENKE is a reliable partner who cre-ates new opportunities for small and mid-size en-terprises (SMEs). We are familiar with their financialchallenges, and have created tailor-made solutionsfor their benefit. These are available exclusively atGRENKE.

Leasing offers customers creative solutions for theirrequirements. It grants access to the latest technol-ogy on the basis of consistent terms and conditions,aiding long-term business planning. Our specialityis creating innovative leasing concepts to servetoday’s market.

Each and every employee actively supports this cus-tomer-centric approach. Against this backdrop,GRENKE offers the following:

:: Straightforward approach and rapid results:: Local and personal advice and assistance:: Pricing and products tailored to customer needs

We prioritise the fostering of valued and collabora-tive relationships with our clients and customers,developing lasting, fruitful partnerships that arebeneficial to all.

We intend consolidating and strengthening our pos-ition in the European market, and are currently oneof the fastest-growing financial services enterprisesin Europe, with 23 branches in Germany and 46 inter-nationally. For the future, our wish is to be the pre-ferred partner for small and mid-size enterprises inneed of specialised banking and financial services.

2 :: 3

2003 2005 2009 2010 2011

First Standard &Poor’s rating

First franchises for factoring and

car leasing

Acquisition ofHesse Newmanbank; renamedGRENKE BANK

Over 250,000contracts managedby 530 employeesat 69 branches in

22 countries

First internationalfranchise company

for factoring


The GRENKE Group: “Good things come in threes.”

Mr. Grenke, Dr. Hack, the GRENKE Group is penetratingnew markets throughout Europe while continuing toexpand within the German leasing market, where it al-ready has a large footprint. What is the secret of yoursuccess?

Wolfgang Grenke: As is often the case in life, hereat GRENKE good things come in threes: a robustbusiness model, an solid product portfolio and anexcellent relationship with our customers. This ap-

proach is bound to be successful everywhere – nomatter what the country, customers always valuequality, simple solutions and a local presence.

Dr. Uwe Hack: Given that financing is at the heart ofour business, you could also add that this connectionis also where our value added starts. There where weobtain our refinancing, on the capital market. In-vestors such as banks appreciate quality, simple so-lutions and short pathways as well. Translated intothe language of the capital market, this means lowrisk, high transparency and therefore uncomplicatedaccess to our refinancing instruments. With GRENKEBANK we are now offering this access to our own cus-tomers as well.

Looking at the growth of the GRENKE Group, this three-pronged strategy seems to have been very successful –new leasing business in international markets rose by63 percent in 2010.

Wolfgang Grenke: Indeed, we are now generatingmore than half of our new business outside Ger-many. Firstly, financing investments through leas-ing is generally not as well advanced elsewhere as

The GRENKE Group has weathered the financial crisis and is once again

focussing on growth. In 2010, the Group and its franchisees succeeded in

expanding new business by almost 40 percent – and the figures for conven-

tional small-ticket IT leasing were up even further, by 43 percent.

Wolfgang Grenke, Chairman of the Board of Directors, and Dr. Uwe Hack,

deputy chairman and CFO, explain these impressive results – and what the

future holds for GRENKE.

Wolfgang Grenke, Chairman of the Board of Directors,

GRENKELEASING AG, Baden-Baden


4 :: 5

it is in Germany, for instance. Secondly, in manycountries we are establishing a completely new market with our specific brand of small-ticket ITleasing. Basically, we are repeating what we already did in Germany many years ago. As we are gearing our offering specifically towards smaller small andmid-sized companies, local presence is a key factor.Especially in the less well developed markets, cus-tomer proximity is defined by geographical proximity.This is why we reach out to new markets gradually andstart with an attractive core region. Once this hasbeen tapped, we implement “cell divisions” and focuson a further region until we have the entire marketcovered.

Dr. Uwe Hack: Italy is a prime example of this formof expansion. Beginning in 2001 in Milan, Italy’sbusiness powerhouse, we have since opened five fur-ther offices, three in the last 12 months alone. Thesegive us a strong geographic presence in northernItaly, and our next step is to fully exploit the poten-tial of this attractive economic region for our busi-ness. We accomplished a great deal in Italy in 2010,with new business skyrocketing by 158 percent. Simi-lar results have been achieved in other countries. Forexample, new business in the UK and France is up140 and 54 percent respectively.

Does this strategy only work in Europe?

Wolfgang Grenke: Europe has always been our focusup to now, and will remain so in the future. We haveyet to fully exploit the full potential of this huge re-gion. But there is also potential for us to export ourbusiness model on a wider international scale. Atpresent, we are considering a move into the Brazil-ian market, and we have concrete plans to gain afoothold in Turkey in 2011. In an economic sense, atleast, Turkey is clearly a part of Europe and it enjoysvery high growth. We already count a number ofTurkish business people among our loyal customers

here in Germany and no doubt this relationship willunderpin our progress in this area.

Here in Germany, the market is excellently served by 23GRENKE offices. How does the Group plan to continueto grow in its home country?

Wolfgang Grenke: Actually, if you include our carleasing franchisee in Karlsruhe, we have 24 offices.In markets where we have a strong presence, suchas Germany, getting closer to our customers must bedefined differently – for example in terms of position-ing. Further elements of our growth strategy includea broad product portfolio that allows us to addressspecific needs, and additional sales channels thatenjoy high acceptance. These include attractive andflexible investment products for our German cus-tomers via GRENKE BANK. As GRENKE BANK is oper-ated exclusively online, clients enjoy fast and simpleaccess to this offering.

Dr. Uwe Hack: An example of a country-specific or regional product offering is our partnership withNRW.BANK in the German state of North Rhine-West-phalia. Together, we provide SMEs and the self-em-ployed with subsidised loans for leasing new business

Dr. Uwe Hack, Deputy Chairman and CFO,

GRENKELEASING AG, Baden-Baden


equipment, and over 2100 customers have alreadybenefitted in this way. And with regard to new saleschannels, since March 2010, GRENKE BANK has beenaccredited with the KfW-Mittelstandsbank start-up programme – offering funding to start-ups, the self-employed and small companies that have been in ex-istence for less than three years. We have even devel-oped an innovative Internet platform to providebusinesses with quick and easy access to the scheme.

What potential does the online channel hold forGRENKE?

Wolfgang Grenke: We already use the Internet as akey sales channel and it continues to grow in stature.For example, the GRENKE online portal allows ourGerman leasing customers to view their contract de-tails, make changes, and get answers to their ques-tions. Both in Germany and internationally, we areexpanding our online services, for our conventionalsmall-ticket IT leasing business, as well as for ourmore recent financial products. Just take a look atour Website, we already speak the language of everycountry with a GRENKE presence.

Does this mean GRENKE may someday be operatedsolely as an Internet business – that not only GRENKEBANK but the entire GRENKE offering might in futureonly be available online?

Dr. Uwe Hack: No, certainly not. A local presenceand being close to our customers are and will remainkey aspects of our brand core. Identifying and lever-aging new routes to our clients play a part but evenwhen it comes to our Internet offerings, the cus-tomer remains central to our service. This is truetoday, and will remain so in the future.

Mr. Grenke, Dr. Hack, thank you for your time.


Breakdown of new business (in percent), GRENKE Group, including franchisees

100

90

80

70

60

50

40

30

20

10

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010

New business in Germany

New business in Europe (excluding Germany)

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New business (in millions of euros), GRENKE Group including franchisees

750

700

650

600

550

500

450

400

350

300

250

200

150

100

50

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010


One-stop leasing, banking and factoring services

The GRENKE Group’s core competency is the leasing of IT and office equip-

ment. We focus on small-ticket leasing agreements and we provide expert

advice and assistance tailored to our customers’ specific needs. This has been

our approach from the word go and this is what has helped us get ahead of

the competition and will continue to do so going forward. Moreover, we will

develop new products and explore new lines of business that complement our

existing portfolio. Our more recent activities, i.e. banking services and fac-

toring, benefit from our extensive experience in the leasing space.


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Value-added leasing

There’s leasing – and then there’s leasing the GRENKEway. To ensure lasting market success, our customersneed innovative financing models. This is exactlywhat we provide them with. We have developed a di-verse offering that goes well beyond the scope ofconventional leasing agreements, highlighting ourposition as a market leader.

Not only do we support our retail partners with theirroutine business processes, we also offer made-to-measure solutions tailored to customers’ specific re-quirements. This personal approach allows us tostrengthen our partnerships on an ongoing basis,

creating the foundations for lasting relationships.At the same time, our way of doing business guaran-tees satisfied end-clients. As a long-term partner,you get more than just cost advantages. Our expertadvice, user-friendly processes and online assis-tance make managing leasing arrangements easierthan ever before. This enables our partners and cus-tomers to focus one hundred percent on their corebusiness.

When it comes to providing leasing arrangements internationally, we make sure to adapt our financingmodels to fit country-specific imperatives. No twomarkets are the same, particularly when it comes toregulatory requirements. In light of these differing


legislative environments, we offer rental agreementsin some countries that are often far removed fromconventional leasing contracts. Moreover, customerrequirements too vary from one region to the next.This is highlighted by the significant historical vari-ations in market demand and structure between in-dividual Western European EU states and the newerEastern European members. We are thoroughly famil-iar with the business environments of our inter-national customers, creating offerings in line with

their precise needs, whatever their location. This international expertiseand attention to detail has paved theway for our rapid growth in Europe.

A key success factor in all countries isthe fast and efficient management ofleasing and rental agreements via theGRENKE online portal. Tailored to ourpartners’ requirements, this portal al-lows them to quickly and easily calcu-late customer quotes. Requests can besent directly over the network andpartners receive a response withinminutes. They can then simply print offtheir customers’ contracts and get

them signed on the spot, saving time and hassle. Wealso provide end-customers with a smart tool: a dedi-cated customer portal offering a quick and secureway to monitor and manage contracts. It delivers in-sight into relevant data and agreements and allowscustomers to edit details themselves when necessary.

In 2004, GRENKE launched its Direct Sales Activitiesand ever since, we have enjoyed closer contact withour end-customers. Our goal is to provide compre-

Structure of portfolio in 2010

General office equipment 4.0 %Other 0.1 %

Security equipment 3.4 %

Medical equipment 2.4 %

Machinery and office equipment 6.1 %

Telecommunications equipment 15.2 %

IT equipment (not including

notebooks) 35.5 %

Notebooks 4.5 %

Photocopying 28.8 %

Share of IT products in portfolio (based on new business): 88 %.

Michele de Vito Piscicelli, owner and sales director, Document Point Snc, Bologna, ItalyGRENKE retail partner, business equipment and supplies, 10 employees

“Our company has been working with GRENKE forsome years, developing a direct relationship withGRENKE consultants thanks to their local presence.This helped us to establish a good professional rela-tionship and mutual trust. The speed in answers andin payments are GRENKE’s winning features.”


10 :: 11

hensive, end-to-end support for small and mid-sizedcompanies. We create custom financing models inline with customers’ specific needs. Because no twoSMEs are the same, off-the-shelf solutions are rarelythe answer. These businesses need tailored adviceand assistance, and made-to-measure leasing andservice concepts. At all our German locations, andan increasing number of European offices, this is theresponsibility of a dedicated account manager.These professionals work hand-in-hand with our re-tail partners, ensuring that technology and financ-ing models are perfectly aligned.

Furthermore, as part of our Direct Sales model, wehave extended our offering to include master leaseagreement. These innovative arrangements allowcustomers to lease small-ticket IT equipment, whileenjoying all the advantages of a major leasing con-tract. In consultation with their account manager,they define an annual IT budget and benefit frompreferential terms for each and every contract con-cluded. They can choose from a wide variety of prod-ucts, even small items, to lease on acase-by-case basis during the agreedtwelve-month term. The agreementprovides customers with the ultimatedegree of flexibility. They decide whereand how much they want to spend during the contract term, in line with

IT and business needs. Term and contract provisionscan be defined individually for each item, again,with all the benefits of the master lease agreement.

For car leasing and fleet management, GRENKE es-tablished a franchise partnership with KazenmaierFleetservice GmbH in 2006, an experienced playerwith industry-specific expertise. This line of busi-ness is geared to the needs of small and mid-sizedcompanies, providing vehicles of all makes and mod-els. Our tailored offerings and flexible solutionsmake enterprises more mobile. An online portal fea-tures comprehensive, efficient tools – so fleet man-agers have access to up-to-date information on theentire fleet. Customers can configure, price andcompare vehicles via a user-friendly interface, giv-ing them all the information they need to make theright choices. Due to the fact that they have ac-curate facts and figures at their fingertips, they savetime and resources while benefiting from a reliablebasis for decision-making.

Steve Davis, managing director, Office Evolution Ltd.,Trowbridge, Wiltshire, UKGRENKE retail partner, business equipment and supplies, 6 employees

“Leasing is a major part of the Office Evolutionbusiness. Choosing GRENKE for our leasing re-quirements has proved to be an extremely wise decision. All aspects of the lease are dealt withquickly and efficiently, from loading proposals

into the GRENKE online system to receiving funds. In addition, the support given by our account manager Gary Standen and his team issecond to none. GRENKE is Office Evolution’s first choice with any lease option, and will continue to be for many years.”


A bank for small and mid-size businesses

In line with the GRENKE Group philosophy, GRENKEBANK AG is a financial services partner for small andmid-sized companies, allowing us to provide financialsupport to our customers beyond the scope of leasing.

One example of this approach is our relationshipwith NRW.BANK, in place since March 2010. As a re-sult of this innovative partnership, small and mid-sized businesses and the self-employed can, for thevery first time, access public funding for their leasingcontracts from a German state development bank.Hundreds of enterprises have already benefited fromthis arrangement – giving us a great reason to con-tinue down this path.

For start-ups, a reliable partner is invaluable and viaGRENKE BANK, these businesses can quickly and easily

apply for subsidised loans from KfW Mittelstandsbankor L-BANK Baden-Württemberg. We believe that intoday’s fast-paced business environment, people whowant to establish and build companies should not bemade wait. This is why we ensure that our team rapidlyassess and respond to loan requests. They can do sowithin 24 hours on working days. Many entrepreneurshave already taken advantage of this unique service,giving them a head start on the road to success. Ourbroad client spectrum has included a wedding-ring re-tailer, a piercing studio, an organic dog food company,and a firm selling “muesli to go”. Even award-winningdesigner Thomas Fries is benefitting from GRENKE’ssupport in the launch of his first handbag collection.

For the fixed-term savings deposits of private and in-stitutional investors, GRENKE BANK offers attractiveinterest rates and security. A government-backedguarantee protects all deposits to the value of 7.612

million euros per customer. These areused to fund the GRENKE Group’s leas-ing contracts, directing resources backinto the small and mid-sized sectorwhile increasing our independencefrom banks and the capital markets.

At GRENKE, our efforts are centred atbecoming the leading financing part-ner for small and medium-size enter-prises in all sectors across Europe.

Thomas Fries, entrepreneur, Thomas F. Accessories, Bad Rappenau, GermanyGRENKE BANK customer, start-ups

“When I think of GRENKE, I think of our successfulpartnership that enabled me to create my ownhandbag label. GRENKE approached my innovativeideas with an open mind, and was the only bank torecognise their potential. They gave me access to asubsidised KfW loan, and I use this additional cap-

ital to make my plans a reality – launching my own handbag collection,featuring a unique closing mechanism and interior light.

The tireless hard work of the GRENKE BANK staff helped me to overcomethe challenges I faced and create a viable business model.”


Factoring – providing peace of mind

GRENKE’s focus on small-ticket fac-toring is a further key aspect of ourmission to provide financial supportto small and medium-sized enter-prises. This sector is largely neg-lected by our competitors, as theylack the systems required to effect-ively deliver the services. GRENKE’Score competencies – deployment ofefficient proprietary systems, respon-sive, customer-friendly processes andface-to-face advice and assistance –also play a significant role in factor-ing. Moreover, all of our processeshave been tested and certified by independent bod-ies to ISO 9001:2008.

In the past, GRENKEFACTORING focused primarily ondisclosed factoring where the client’s customer is in-formed that the receivables have been assigned to thefactoring service. This is changing however, as theproportion of undisclosed factoring, where thedebtor is not aware of the arrangement, in our port-folio continues to grow. In both cases, we check thecredit worthiness of the client in advance. GRENKE-FACTORING offers each of these options on a flat-ratecontract basis providing our clients with greatertransparency and a more reliable basis for financialplanning.

Our processes are designed to save our factoringclients time and hassle, while ensuring they retainfull visibility into their receivables management. Viaa user-friendly online portal, they can perform a widerange of tasks, including uploading invoices, trackingcustomer payments, and adding new debtors whiletesting their credit worthiness in advance. We ensurethat our factoring clients are kept up to date on anyaction taken or pending, for example reminders

where payment is outstanding, and that they alwayshave the opportunity to intervene. We are committedto close coordination and agreement with our clientson all dealings with debtors as we believe this is thekeystone of a long-term partnership built on trust.

Factoring is an attractive choice for small and mid-sized enterprises, particularly when funding the up-turn after a difficult economic period. In an uncertainbusiness environment, credit lines may remain re-strictive. By taking advantage of factoring services,however, companies can improve cash flow and bene-fit from protection against poor liquidity, giving youthe security you need to tackle whatever challengescome your way.

Factoring is fast becoming the third pillar of externalfinancing, and the number of SMEs taking advantageof these services is on the rise. It is this target groupthat GRENKE’s factoring services focus on in Germany,and (since 2010) in Switzerland.

Werner Schmidt, managing director, WernerSchmidt Pharma GmbH, Niederkassel, GermanyGRENKEFACTORING client, pharmaceuticals company,27 employees

“Working with GRENKE has allowed us to concen-trate on our core business. Factoring has reallymade our receivables management much easier.What’s more, it enables us to improve our cash flowon an ongoing basis – making it the perfect comple-ment to conventional bank loans.”

12 :: 13


Barcelona

Oporto

Lisbon

Nantes

LondonBristol

Dublin

Belfast

Cork

L

Toulouse

L

Malaga

Madrid

G

A strong partner for sustainable growth

The GRENKE Group’s expansion is bearing fruit. This is because we have clearly defined our strategy for growth.We have already achieved a great deal and aim to achieve even more.

In Germany, our growth can be attributed to two factors: firstly, increased penetration of themarket in our core business of leasing; and secondly, expansion into the new lines of busi-ness: factoring and banking.

Internationally too, GRENKE is concentrating on strengthening core activities in itsexisting markets. What’s more, whenever we enter new territory, we begin by firmlyestablishing our core business activity. Successful, sustainable development for the en-tire GRENKE Group is our key priority. That is why we focus strategically on organic growthacross all lines of business.

To support expansion of our branch network in Germany and around Europe, we apply a “cell-division principle” – as soon as a sales office starts receiving a certain number of leasing en-quiries per week, we divide it into two separate entities.

Furthermore, we operate a franchise system that enables us to cost-efficiently establish brancheswith minimum risk. This helps us introduce our business model and our brand to new countriesquickly and raise awareness of the company. We look for franchisees with an entrepreneurialmindset who already have an established network of contacts in their country. In return, theybenefit from our unique expertise and receive access to powerful tools. Franchises are legallyindependent entities – and GRENKE holds no equity share in them.However, after a certain period of time has elapsed, GRENKE hasthe option of acquiring the business based on pre-definedterms.

GRENKE’s wide network of branches guarantees our partnersand customers across Europe comprehensive service, localcontacts and fast response times. What’s more, it also en-sures sustainable growth for the entire GRENKE Group.


rcelona

O

Nantes

LondonBristol

D

Ljubljana

Basle

ZurichLausanne

MilanVerona

Genoa

Bologna

Brescia

Aix-en-Provence

Toulouse

Lyon

Strasbourg

Luxembourg

Paris

Lille Brussels

Vianen

Eindhoven

Bucharest

Hamburg Rostock

Kiel

BremenBerlin

MagdeburgHanover

DortmundDusseldorf Leipzig

Dresden

ErfurtMönchengladbach

Cologne

FrankfurtMannheim Nuremberg

KarlsruheStuttgart

Neckarsulm

Munich

Memmingen

Salzburg

Vienna

Potsdam

Prague

Poznań Warsaw

Bratislava

Budapest

Copenhagen

Oslo

Stockholm

Helsinki

M

Grenoble

14 :: 15


Outstanding customer service

GermanyLeasing

Factoring

Baden-Baden, Berlin, Mannheim,

Stuttgart

Czech RepublicLeasing

Prague

HungaryLeasing

Budapest*

IrelandLeasing

Dublin, Cork

ItalyLeasing

Milan, Bologna, Brescia, Genoa,

Milan (Arese), Verona

AustriaLeasing

Vienna, Salzburg

FranceLeasing

Strasbourg, Aix-en-Provence, Grenoble,

Lille, Lyon, Nantes, Paris (Est), Paris

(Intra-Muros), Paris (Les Ulis), Toulouse

Strong customer relationships are an integral part of our corporate philosophy. We provide expert service toour partners and customers across Europe. A dedicated personal contact deals with all enquiries, and ensuresall questions are answered quickly and to our customers’ complete satisfaction. What’s more, GRENKE repre-sentatives meet with customers and partners face-to-face where required.

Banking

Baden-Baden, Berlin, Bremen, Cologne,

Dortmund, Dresden, Dusseldorf, Erfurt,

Frankfurt, Hamburg, Hanover, Karlsruhe**,

Kiel, Leipzig, Magdeburg, Mannheim,

Memmingen, Mönchengladbach, Munich,

Neckarsulm, Nuremberg, Potsdam,

Rostock, Stuttgart

Baden-Baden

BelgiumLeasing

Brussels

DenmarkLeasing

Copenhagen

FinlandLeasing

Helsinki*


“We deliver something that everyone likes to see: perfect service – fast, simple and reliable.”

Wolfgang Grenke

16 :: 17

LuxembourgLeasing

Luxembourg*

NorwayLeasing

Oslo*

PortugalLeasing

Lisbon*, Oporto*

RomaniaLeasing

Bucharest*

SlovakiaLeasing

Bratislava*

SloveniaLeasing

Ljubljana*

The NetherlandsLeasing

Vianen, Eindhoven

PolandLeasing

Poznań, Warsaw

SwedenLeasing

Stockholm

SwitzerlandLeasing

Zurich, Basle, Lausanne

SpainLeasing

Barcelona, Madrid*, Malaga*

* With a GRENKE franchise system.** With a GRENKE franchise system for car leasing.

Factoring

Basle*

UKLeasing

London, Belfast, Bristol


A local presence and being close to our customers are and will remainkey aspects of our brand core.


The benefit of the GRENKE brand

18 :: 19

Businesses that do not generate ideas have no vi-able long-term future. Ideas are the most importantcompetitive capital, and are at the heart of everypowerful brand. As an enterprise that strives to ac-tively shape the future of its chosen market seg-ment, GRENKE has an ambitious philosophy: to “grabthe bull by its horns” and make the most of everyopportunity that comes along. We always look to thefuture, and aim to create the conditions that fosterfurther growth. Establishing our brand on the Euro-pean market is part of this strategy.

GRENKE has already taken the first steps towardsthis goal. Thanks to our customer-centric diversifi-cation – providing end-to-end leasing, banking andfactoring services – and our European expansion,we have prepared the ground for even greater suc-cess in the future. This means that we have fulfilledthe two core criteria for making a reality our mid-term goal of becoming a strong European brand.

We are well on our way towards taking up a uniqueposition on the European market: we want to be-come the driving force within our chosen segmentand become the leading provider of financial ser-vices for SMEs. As a financial services specialist, wecontinuously strive to gain an even fuller under-standing of our customers’ imperatives in order toprovide a complete service offering of excellentquality.

GRENKE enjoys an excellent reputation among part-ners and customers. For many decades, our companyand its services have been associated with rock-solidvalues that make us stand out from the competitionand strengthen our day-to-day business. Customersbenefit from attractive offerings, user-friendlyprocesses, excellent personal advice and assistance,custom-tailored terms, and our extensive network ofbranch offices throughout Europe. The GRENKE Groupcombines specialist knowledge with unparalleled in-

sight into its customers’ industries and has the ex-pertise and resources to ensure complete satisfaction.

The combination of these success factors – attract-ive offerings, a clearly defined target group, marketleadership and strong values – makes us unique. Weaim to leverage these factors in our communicationsto the benefit of our shareholders, retail partnersand customers.

We communicate a clear message to our market bycreating a strong European brand that provides thevery best for our customers. This pays off in threeways. First, when the markets accept GRENKE as theleader within our defined segment, this strengthensexisting customer relationships. Second, this willallow us to attract new customers and third, this willunderline our services’ excellent value for money.

GRENKE views business success in a competitive en-vironment as the ongoing implementation of newideas, ideas that are accepted and embraced by themarket. This means that you, our shareholder, part-ner or client, can also benefit from the GRENKEbrand, today and in the future.


Good corporate citizenship

Chess

GRENKE promotes a diverse range of chess activities.We have supported two local Baden-Baden chess clubsfor over thirteen years, and from 2005 to 2010, theChess Classic tournament in rapid chess, held each yearin Mainz. GRENKE LOCATION SAS in France sponsors theCercle d’Echecs de Bischwiller chess club.

One of the local German groups supported, OoserSchachgesellschaft, has been the most successfulchess club in the country and is one of the top ten bymembership. The club has won the German men’steam championship for five consecutive years, from2006 to 2010; in 2003, 2005, 2007, 2008 and 2010they won the German club cup, were among the topfive teams in the European Club Cup 2007 to 2010,and were runners-up in 2008.

The women’s team won the German championship in2003, 2004, 2005, 2008 and 2009. In addition to theseand other achievements, the Ooser Schachgesellschaftfirst team has been led, since the beginning of 2010,by Viswanathan Anand from India, present holder ofthe World Chess Champion title, and Magnus Carlsen,currently ranked number one in the world on the FIDErating list.

Music

GRENKE is a sponsor of the Columbus education pro-gramme at the Festspielhaus in Baden-Baden, intro-ducing school children to the world of classicalmusic. In recent years, thanks to our support, morethan 20,000 pupils have received discounted en-trance to events. School classes discuss the concerts,share the concert evening experience and often havethe opportunity to meet performers like Hilary Hahnand Lang Lang in person.

Teachers have given very positive feedback about theprogramme and report of their pupils’ great enjoy-ment. On the day of the concerts, pupils can purchaseany remaining tickets at a discount and prepare forthe events using resources on the Internet.

We are part of society, we profit from society and we wish to give some-

thing back. We take our corporate social responsibility very seriously, en-

gaging in a wide variety of projects both inside and outside the company.

In particular, we are committed to fostering young people’s professional

and cultural education.


GRENKE is committed to fostering young people'sprofessional and cultural education.

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School

GRENKE collaborates with a number of schools withinthe scope of an initiative launched by local chambersof commerce. The aim is to give pupils a better under-standing of the business world. They receive informa-tion on our company and the job opportunities weoffer in specific fields. This helps young people choosea suitable profession and teachers to provide bettercareer counselling.

GRENKE also holds workshops to prepare youngpeople for the job application process, involvingthem in role-play and discussions, and by givingpresentations. GRENKE has signed a cooperationagreement with Markgraf-Ludwig-Gymnasium (MLG)and Richard-Wagner Gymnasium (RWG), two grammarschools based in Baden-Baden.

In addition, GRENKE supports the implementationof quality management systems at schools. Thanksto our partnership, MLG became the first state-rungrammar school in Germany to receive ISO certifica-tion. Its recertification in 2010 and the 2011 auditconfirmed the high standard of the quality manage-ment system.


Knowledge strengthens competitivenessand market position

In addition to creating jobs, our company contributesto increasing the quality of life and purchasing powerin the communities close to our business activities.In 2010, we employed a staff of over 530.

GRENKE is committed to developing the skills of ouremployees and providing a variety of skills devel-opment opportunities. We are a certified partner tothe German education system, providing opportun-ities ranging from apprenticeships to participationin cooperative education courses at universitylevel. By training young people and offering thememployment upon completion of their programmes,we ensure we have highly skilled staff.

GRENKE AKADEMIE, founded several years ago,helps employees of the GRENKE Group perform theirday-to-day tasks more efficiently. Its portfolio ofhigh-quality courses, developed in-house, is tailor-ed to the unique needs of various target groups.The classes and seminars address changes in theway we work and do business, and familiarise par-ticipants with the latest legislation and regulations.The programme is clearly structured and is based on

proven teaching methods. Courses are taught byGRENKE staff members or third-party experts, andare always tailored to individual needs and areas ofspecialisation. All of these factors make GRENKEAKADEMIE a highly effective up-skilling resource. Toensure knowledge transfer across multiple sites, weleverage e-learning software with great success.Regular evaluations ensure that our courses andworkshops fulfil the same high expectations wehave for the rest of our company and allow for con-tinuous improvement.

We expect the very best from our employees. They strongly identify with

their core tasks: recognising our customers’ needs and developing effective

solutions. They tackle every challenge that comes along with great enthusi-

asm. Their skills and dedication are our greatest asset and have always

formed the foundation of our success. Without their commitment and ex-

pertise, GRENKE would not be the highly competitive and growth-oriented

enterprise it is today.


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Quality is everything

Our expectations regarding quality are high: we want to provide excellent services to our partners and cus-tomers. This is why we have implemented a quality management system – and regularly put it to the test. Asa result, GRENKE quality management has been certified in accordance with DIN EN ISO 9001:2008.

But we will not rest on our laurels. We will continue to improve our products and services. Since the day ofour first audit on 10 July 1998, we have been committed to embedding a culture of quality within our or-ganisation. In connection with this certification, we are regularly audited by independent organisations.TÜV Management has rated GRENKE’s quality management system exemplary. Our senior managers also playan important role. They serve as role models, and motivate staff to provide the highest level of service at alltimes. Moreover, we continue to drive quality in staff-development workshops and other activities.

GRENKE quality management has been certified in accordance with DIN EN ISO 9001:2008.


Responsible for content and design:

GRENKELEASING AGNeuer Markt 276532 Baden-BadenGermany

Phone: +49 7221 5007-0Fax: +49 7221 5007-222E-mail: [email protected]: www.grenke.de


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