MLP SE: Q1: Significant growth in sales revenue and solid earnings performance
Q1: Significant growth in sales revenue and solid earnings performance - Total revenue up 9 percent to EUR 193.7 million at the start of the year - Growth recorded in all parts of the MLP Group and across virtually all fields of consulting - Number of consultants now 1,995 - the first increase in an opening quarter for ten years - Solid earnings performance: EBIT at EUR 10.7 million (Q1 2019: EUR 12.5 million) despite initial effects of the coronavirus crisis in March - MLP anticipates an EBIT of EUR 34 to 42 million for 2020 - mid-term planning: EBIT rising to EUR 75 to 85 million by the end of 2022 Wiesloch, May 14, 2020 - The MLP Group was able to continue the successful development of previous months in the opening quarter of 2020. Total revenue increased by 9 percent to EUR 193.7 million. This development was bolstered by growth in all parts of the Group and across virtually all fields of consulting. Real estate brokerage, which was further expanded in the previous year with the acquisition of DEUTSCHLAND.Immobilien, displayed particularly dynamic development with revenue more than doubling. Gains were also recorded in the wealth management (up 10 percent) and health insurance business (up 8 percent). The same is true of the non-life insurance field, which recorded an 8 percent increase in revenue in the important first quarter. At the same time, new client acquisition - which is a key early indicator for future revenue performance - displayed positive development (up 10 percent over the previous year). Standing at 1,995 as of March 31, 2020, the number of consultants was not only significantly above the previous year's level (March 31, 2019: 1,910), but also higher than the figure of 1,981 recorded as at December 31, 2019. As already communicated, earnings before interest and taxes (EBIT) were slightly below the previous year at EUR 10.7 million (Q1 2019: EUR 12.5 million). MLP started to feel the initial effects of the coronavirus crisis in the second half of March, above all due to increased risk provisions, market value fluctuations and revaluations of, among other things, promissory note loans. "The revenue development observed in the opening quarter underlines the dynamism that MLP is displaying and demonstrates our success in continuing the positive trend of the last few years. Given the framework conditions resulting from the worldwide coronavirus crisis, our earnings performance was also solid. We have established a strong and broad basis over the last few years and are benefiting from this, particularly during this period. We will also remain resolute throughout 2020 in taking advantage of the opportunities that our markets currently offer," comments Chief Executive Officer Dr. Uwe Schroeder-Wildberg. MLP was quick to switch over business operations to work-from-home and video consulting solutions in the course of the coronavirus crisis. "We are on hand for our clients to answer their questions and continue offering them our full scope of services throughout this difficult time." The breakdown by consulting fields shows broad-based growth, in particular in the areas that MLP has strategically further developed in the last few years - above all in real estate brokerage. Following the first-time consolidation of DEUTSCHLAND.Immobilien in Q3 2019, revenue in the opening quarter more than doubled here to EUR 7.5 million (EUR 3.3 million). In the wealth management area, revenue increased by 10 percent to EUR 55.3 million. The Group benefited from inflows at both MLP Banking AG and FERI. Due to the coronavirus-based slumps on the markets, assets under management as of March 31, 2020 were EUR 37.2 billion (December 31, 2019: EUR 39.2 billion, March 31, 2019: EUR 36.3 billion). In the field of non-life insurance, MLP recorded growth of 8 percent in the traditionally important opening quarter. The increase in sales revenue from EUR 59.9 million to EUR 64.5 million reflects gains both at the subsidiary DOMCURA and in MLP's private client business. The portfolios managed by the MLP Group increased from EUR 405.5 million as at December 31, 2019 to EUR 415.0 million as at March 31, 2020. MLP recorded significant gains in health insurance, where revenue increased from EUR 12.1 million to EUR 13.1 million. MLP also recorded growth in the old-age provision field of consulting with an increase of 4 percent. Following a very strong closing quarter in 2019 (plus 47 percent), the loans and mortgages business displayed a decline at the start of the year. Revenue was EUR 4.3 million, following EUR 5.1 million in the same period of the previous year (minus 16 percent). Solid EBIT performance despite initial coronavirus effects First opening quarter increase in consultant numbers for ten years Forecast for 2020 and planning for 2022 An overview of key figures
*) As of December 31, 2019. About MLP: - MLP: The dialogue partner for all financial matters - FERI: The investment company 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 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. Nearly 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
14.05.2020 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: | 1044625 |
End of News | DGAP Media |
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1044625 14.05.2020
MLP SE Stock
Our community is currently high on MLP SE with 3 Buy predictions and 0 Sell predictions.
As a result the target price of 10 € shows a very positive potential of 76.06% compared to the current price of 5.68 € for MLP SE.