MLP SE
MLP AG: 1st half-year 2017: MLP significantly increases revenue and earnings
1st half-year 2017: MLP significantly increases revenue and earnings – Total revenue up 6 percent to EUR 300.6 million, operating EBIT rises to EUR 15.9 million (H1 2016: EUR 9.3 million) – Net profit up 88 percent to EUR 10.5 million – Q2: Total revenue up 5 percent to EUR 137.6 million, operating EBIT: EUR 2.7 million (Q2 2016: EUR 0.4 million) – Diversified gains in the wealth management, non-life insurance, loans and mortgages and real estate brokerage business – New client acquisition up 8 percent in the first six months – around 13 percent of new clients acquired online – Outlook confirmed: Operating EBIT to increase to at least Wiesloch, August 10, 2017 – The MLP Group enjoyed considerable growth in crucial key figures in the first half year 2017. Total revenue rose by 6 percent to EUR 300.6 million, while the operating result before interest and taxes (operating EBIT) increased by 71 percent to EUR 15.9 million. MLP was also able to achieve gains in the traditionally rather modest second quarter. Indeed, increases were recorded both in total revenue (up 5 percent to EUR 137.6 million) and operating EBIT, which amounted to EUR 2.7 million following EUR 0.4 million in the previous year. The wealth management area was the key driver here; but also the non-life insurance, loans and mortgages and real estate business were able to generate substantial gains. In addition MLP acquired 10,000 new family clients in the first half of the year (an increase of 8 percent) – some 13 percent of which were acquired via online policy sales. At the end of the first half of the year, MLP confirms its outlook for the financial year: The objective is still to achieve operating EBIT of at least EUR 45 million. “Our strategic initiatives are having a visible impact. We are also satisfied with the operating performance in the first six months. We are on a good path, not just to significantly improve profitability, but also to permanently modernise the company,” comments Chief Executive Officer, Dr. Uwe Schroeder-Wildberg. “However, the first half of the year underlines just how important it has been for us to further optimise our business model over the last few years with the diversification of our revenue basis. We were able to more than compensate for market condition-based declines in the old-age provision and health insurance areas with gains in the other consulting segments over the last few months.” H1: Total revenue increases by 6 percent to EUR 300.6 million Examining the consulting segments in detail, the greatest percentage increase was seen in the real estate brokerage business. This is recognised under “Other commission and fees”, which increased by 65 percent to EUR 9.4 million (EUR 5.7 million). The second highest growth rates were re-corded by the wealth management area with an increase in revenue of 16 percent (rise from EUR 79.3 million to EUR 92.1 million). Assets under management rose to EUR 32.0 billion at the end of the first half of the year (March 31, 2017: EUR 31.6 billion). Considering the second quarter on its own, growth in this consulting field is 15 percent (from EUR 40.4 million to EUR 46.4 million). The MLP Group benefited from an increase in new business in MLP’s private client business and at its subsidiary FERI. In addition performance-based remuneration at FERI also increased due to the positive performance of client portfolios. The loans and mortgages area also recorded a gain of 13 percent, with revenue increasing from EUR 6.8 million to EUR 7.7 million. In the non-life insurance area, the positive development continued both in MLP’s private client business and at the subsidiary DOMCURA. As a result of this, revenue rose by 5 percent to EUR 72.3 million (EUR 68.7 million). After the first six months of the year, the old-age provision area is 5 percent below the previous year. Revenue reached EUR 77.2 million (EUR 81.6 million). In this consulting field, MLP continues to be impacted by the significant reservations of many consumers throughout the market when it comes to signing long-term contracts. With revenue of EUR 22.7 million (EUR 23.3 million), the health insurance area is slightly below the previous year’s level. Operating EBIT increases to EUR 15.9 million Q2: Operating EBIT rises from EUR 0.4 million to EUR 2.7 million MLP serves 522,900 family clients and 19,400 corporate clients Outlook confirmed: Increase in operating EBIT to at least EUR 45 million An overview of key figures
*) As at March 31, 2017 About MLP: – MLP Finanzdienstleistungen AG: The dialogue partner for all financial matters – FERI AG: The investment expert for institutional investors and high net-worth individuals – DOMCURA AG: The underwriting agency focusing on private and commercial non-life insurance products – TPC GmbH: The specialist in occupational pension management for companies The views and expectations of our clients always represent the starting point in all fields. Building on this, we then present our clients with suitable options in a comprehensible way so that they can make the right financial decisions themselves. In advising and supporting our clients, we examine the offers of all relevant product providers in the market. Our product ratings are based on scientifically substantiated market and product analyses. Manfred Lautenschläger and Eicke Marschollek founded MLP in 1971. Around 1,900 self-employed client consultants and just under 1,700 employees work at MLP. End of Media Release Issuer: MLP AG Key word(s): Finance
10.08.2017 Dissemination of a Press Release, transmitted by DGAP – a service of EQS Group AG. |
Language: | English |
Company: | MLP AG |
Alte Heerstraße 40 | |
69168 Wiesloch | |
Germany | |
Phone: | +49 (0)6222-308-8320 |
Fax: | +49 (0)6222-308-1131 |
E-mail: | investorrelations@mlp.de |
Internet: | www.mlp-ag.de |
ISIN: | DE0006569908 |
WKN: | 656990 |
Indices: | SDAX |
Listed: | Regulated Market in Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Tradegate Exchange |
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