MLP SE: H1: EBIT significantly above previous year - total revenue up 9 percent
H1: EBIT significantly above previous year - total revenue up 9 percent - Preliminary figures confirmed: EBIT significantly above the previous year's level, both for the first half of the year (EUR 18.8 million vs. EUR 12.2 million) and for the second quarter (EUR 8.1 million vs. EUR -0.3 million) - H1: Total revenue rose by 9 % to a new all-time high of EUR 359.0 million in the first six months (H1 2019: EUR 329.2 million) - Above all, revenue increases recorded in real estate brokerage (up 99 percent), wealth management (up 15 percent) and non-life insurance (up 8 percent) - assets under management hitting a new record level at EUR 39.6 billion - Number of consultants surpasses the 2,000 mark for the first time in 13 years - Forecast for 2020: Upper end of the communicated EBIT corridor of EUR 34 to 42 million anticipated Wiesloch, August 13, 2020 - Despite the anticipated negative effects of the coronavirus pandemic on individual business areas, the MLP Group was able to continue its growth trend of the last quarters and increased total revenue in the first half of 2020 by 9 percent to a record level of EUR 359.0 million. Two areas made an important contribution to this positive development: wealth management with an increase of 15 percent and non-life insurance with an increase of 8 percent. However, the greatest increase was recorded in real estate brokerage, where sales revenues virtually doubled. MLP therefore confirms the figure for earnings before interest and tax (EBIT) that was already communicated at the end of July. At EUR 18.8 million after the first six months of the year, this figure was significantly above the previous year's level of EUR 12.2 million. The number of consultants also increased further as of June 30, 2020. At 2,014, the figure surpassed the 2,000 mark for the first time in 13 years. In light of the successful development in the first half of the year, MLP now expects to reach the upper end of the EBIT corridor of EUR 34 to 42 million that was forecast in April. "Despite the coronavirus crisis, we succeeded in continuing the positive trend of previous quarters and also achieved significant growth in the first half of the year. In this vein, we are benefiting more than ever from our successfully diversified revenue basis, which is enabling us to more than compensate for coronavirus-based declines in individual consulting fields with gains in others. At the same time, we have made good progress in acquiring new consultants. This provides us with positive impetus for future development," comments Chief Executive Officer Dr. Uwe Schroeder-Wildberg. H1: Total revenue increases to EUR 359.0 million The breakdown by consulting areas shows that the strongest growth rates were recorded in real estate brokerage, in which revenue virtually doubled to EUR 16.1 million in the time period from January to July 2020 (H1 2019: EUR 8.1 million) following the first-time consolidation of DEUTSCHLAND.Immobilien in third quarter 2019. With an increase of 15 percent to EUR 120.2 million in wealth management (EUR 104.7 million) and an increase of 8 percent to EUR 88.2 million in non-life insurance (EUR 81.7 million), gains were primarily recorded in the consulting fields that MLP has strategically developed further in recent years. In addition to successful development of new business, the growth recorded in wealth management can also be attributed to a significant rise in performance fees. These are accrued for the performance of investment concepts and are largely recognised in the income statement. In terms of assets under management, MLP was already able to make up for the interim decline during the coronavirus crisis and recorded a new high of EUR 39.6 billion as of June 30, 2020 (March 31, 2020: EUR 37.2 billion). The stock value of non-life insurance contracts rose to EUR 419.4 million (March 31, 2020: EUR 415.0 million). MLP increased revenue from the health insurance business by 6 percent to EUR 25.2 million (H1 2019: EUR 23.8 million). In the loans and mortgages field of consulting, the Group was able to virtually compensate all of the decline in revenue suffered in the opening quarter with a pronounced increase in the second quarter of 13 percent to EUR 4.4 million (Q2 2019: EUR 3.9 million). After the first half of 2020, revenue was therefore EUR 8.8 million (H1 2019: EUR 9.0 million). The consequences of the coronavirus pandemic were particularly apparent in the field of old-age provision. This in particular affected the occupational pension provision business, as very few companies are currently reaching decisions regarding new provision concepts. The situation is also compounded by the fact that new client acquisition declined in the second quarter due to the coronavirus pandemic, which will have a negative impact on revenue in the field of private old-age provision over the remainder of the year. Total old-age provision revenue in the first half of the year was EUR 78.9 million (EUR 84.0 million). H1: Significant increase in EBIT despite initial coronavirus strains More than 2,000 MLP consultants for the first time in 13 years As of June 30, 2020, the MLP Group served 552,400 family clients (March 31, 2020: 550,200). At 8,400, the gross number of newly acquired family clients in the first half of the year was below the previous year (June 30, 2019: 8,800). At 4,500, new client acquisition at MLP was still above the previous year after three months, but the effects of the coronavirus pandemic became more apparent in the second quarter. The Group also served 21,900 corporate and institutional clients (March 31, 2020: 21,600). Set against this background, MLP SE is sticking to its forecast from April 27, 2020 for the year 2020 (EBIT of EUR 34 to 42 million). MLP now expects to reach the upper end of this range following the successful development in the first half year. At the same time, MLP confirms its mid-term planning, based on which EBIT is likely to rise to around EUR 75 to 85 million by the end of 2022. "MLP is currently doing well despite the coronavirus pandemic. We will also remain resolute in the second half of the year and take the opportunities that the markets presents to us. At the same time, we are establishing a basis for reaching the targets in our mid-term planning," comments Reinhard Loose, Chief Financial Officer. An overview of key figures
*) As at March 31, 2020 About MLP: - MLP: The dialogue partner for all financial matters - FERI: The investment expert for institutional investors and high net-worth individuals - DOMCURA: The underwriting agency focusing on private and commercial non-life insurance products - TPC: The specialist in occupational pension provision management for companies - DEUTSCHLAND.Immobilien: Market place for investment properties The views and expectations of our clients always represent the starting point in each of these 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. More than 2,000 self-employed client consultants and around 1,800 employees work at MLP. End of Media Release Issuer: MLP SE Key word(s): Finance
13.08.2020 Dissemination of a Press Release, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | MLP SE |
Alte Heerstraße 40 | |
69168 Wiesloch | |
Germany | |
Phone: | +49 (0)6222-308-8320 |
Fax: | +49 (0)6222-308-1131 |
E-mail: | [email protected] |
Internet: | www.mlp-se.de |
ISIN: | DE0006569908 |
WKN: | 656990 |
Listed: | Regulated Market in Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Tradegate Exchange |
EQS News ID: | 1116993 |
End of News | DGAP Media |
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1116993 13.08.2020
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