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Cembra Money Bank AG

News Detail

Ad hoc news News vom 11.10.2017

Cembra Money Bank acquires EFL Autoleasing AG

Media Release, 11 October 2017 (pdf)

Zurich – Cembra Money Bank (“Cembra”) signed an agreement to acquire 100% of the shares of EFL Autoleasing AG (“EFL”) for an undisclosed amount. EFL is a well-established auto lease and auto loan financing company based in Winterthur (Switzerland). As per end of June 2017, EFL had auto lease and auto loan receivables of circa CHF 280 million.

Robert Oudmayer, CEO of Cembra Money Bank, said: “The acquisition of EFL fits very well with our strategy to realize profitable growth in consumer finance in Switzerland. The transaction strengthens our position as the leading independent auto leases and loans provider in Switzerland.”

Beat Imwinkelried, Chairman of the Board of Directors of EFL Autoleasing, commented: “I am happy to have found a reliable and professional partner in Cembra which has the scale advantages to further develop the EFL business and to take it to the next level.”

The combined auto lease and auto loan business will have net financing receivables of circa CHF 1.9 billion. Cembra expects to exploit synergies from funding and operational leverage leading to an overall increased profitability and higher efficiency. The transaction is expected to be EPS accretive as of 2018.

The transaction is expected to close in Q4 2017, with a merger of EFL into Cembra Money Bank, expected in the first half-year 2018.

All documents (investor presentation and this media release) are available at www.cembra.ch/en/investor

Contacts
Media:	Andreas Werz; +41 44 439 8512; andreas.werz@cembra.ch
Investor Relations:	Christian Waelti; +41 44 439 8572; christian.waelti@cembra.ch

Key dates
22 February 2018 16 March 2018 18 April 2018	Publication of full-year 2017 financial results Publication of the Annual Report 2017 Annual General Meeting 2018

About Cembra Money Bank

Cembra Money Bank AG is one of the leading Swiss providers of consumer finance products and services. Its product range includes personal loans, auto leases and loans, credit cards and insurance sold with those products as well as invoice financing, deposit and savings products.

Headquartered in Zurich-Altstetten, the Bank has operations across Switzerland via a network of 18 branches as well as alternative sales channels such as the Internet, credit card partners, independent agents and more than 3,400 car dealers.

Cembra Money Bank AG is an independent Swiss bank and has been listed on the SIX Swiss Exchange since October 2013. It has over 700 employees from more than 40 nations and about 780,000 customers.

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