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*Q1: MLP repeats previous year's high earnings - further increase in total
revenue *
*- Total revenue increases to EUR 167.9 million (Q1 2017: EUR 163.0 million)
*
*- Broad-based growth: further gains in non-life insurance, wealth
management and real estate brokerage*
*- EBIT amounts to EUR 13.0 million (EUR 12.5 million); Group net profit for
the period rises by 8 percent to EUR 9.3 million *
*- Outlook confirmed: Despite further increasing investments in the future,
EBIT is set to remain at the 2017 operating EBIT level of EUR 46.7 million*
*Wiesloch, May 15, 2018 *- The MLP Group also made a successful start to the
2018 financial year. In the first quarter, total revenue increased by 3
percent to EUR 167.9 million. MLP primarily recorded gains in those
consulting areas that have been strategically established and expanded in
the last few years: the non-life insurance area, the wealth management area
and the real estate brokerage area. At EUR 13.0 million, earnings before
interest and tax (EBIT) is 4 % above the previous year. This actually
represented a slight reduction in comparison with the operating EBIT
(excluding one-off expenses) of EUR 13.3 million that was generated in the
first quarter of 2017, yet over the medium term there was a significant
increase. Net profit increased by 8 percent to EUR 9.3 million.
"We made a good start to the year and were able to repeat the excellent
earnings recorded at the beginning of 2017. After the first three months, we
are therefore on schedule to achieve our targets for the year. The trend
looks good and is stabilising further," comments Chief Executive Officer,
Dr. Uwe Schroeder-Wildberg. "We are increasingly benefiting from the
strategic diversification of our revenue streams that we have performed over
the last few years. We are keen to continue along this path."
*Total revenue increased to EUR 167.9 million*
Total revenue rose to EUR 167.9 million in the first quarter (Q1 2017: EUR
158.9 million). At EUR 160.4 million, commission income made the greatest
contribution to this (EUR 153.8 million). Interest income was EUR 4.4
million and was thus slightly below the previous year's figure (EUR 5.1
million).
The breakdown by consulting fields shows a growth of 6 percent in the
non-life insurance business, in which revenue increased from EUR 52.8
million to EUR 56.2 million. This reflects positive development both at the
subsidiary DOMCURA and in MLP's private client business. In the wealth
management area, revenue increased from EUR 45.7 million to EUR 47.5 million
despite significantly lower performance-based remuneration (performance
fees) than in the same period of the previous year. This rise can primarily
be attributed to extremely positive development of new business both at the
subsidiary FERI and in MLP's private client business. At EUR 33.9 billion,
assets under management remained stable as of March 31, 2018 (December 31,
2017: EUR 33.9 billion). Successful development was also once again enjoyed
by the real estate brokerage area, which saw revenue rise to EUR 4.9 million
(EUR 3.4 million), as well as the loans and mortgages area with sales
revenue of EUR 5.2 million (EUR 3.8 million). At EUR 11.7 million, revenue
in the health insurance area is slightly below the previous year's figure
(EUR 11.9 million). In the old-age provision area, MLP was able to increase
the brokered premium sum of new business by around 13 percent to EUR 638.2
million (EUR 566.7 million), although revenue declined by 4 percent to EUR
33.7 million (EUR 35.2 million). Initial adoption of the new IFRS 15
accounting standard is the primary reason for the weaker revenue
development. Furthermore, new business is not yet fully reflected in
revenue.
*EBIT increases to EUR 13.0 million*
EBIT rose to EUR 13.0 million in the first quarter (EUR 12.5 million). In
the same period of the previous year, one-off costs of EUR 0.8 million were
accrued for further optimisation of the Group structure, meaning that
operating EBIT in Q1 2017 was EUR 13.3 million. MLP is not anticipating any
one-off expenses in 2018. The mid-term EBIT comparison (Q1 2016: EUR 8.8
million, Q1 2015: EUR 7.0 million, Q1 2014: EUR 3.4 million) underlines the
successful development recorded at the start of 2018. The net profit for the
period rose to EUR 9.3 million (EUR 8.6 million).
*MLP Group supports 532,100 family clients and 20,200 corporate clients *
As of March 31, 2018, the MLP Group served 532,100 family clients (December
31, 2017: 529,100). The gross number of newly acquired family clients was
4,000 in the first quarter (Q1 2017: 4,900). The Group also serves 20,200
corporate and institutional clients (December 31, 2017: 19,800). As of March
31, some 1,890 client consultants were working for MLP (December 31, 2017:
1,909). Due to the accelerated efforts to recruit new consultants in the
university segment, the typical seasonal dip at the start of the year was
less pronounced than in previous years. Alongside the recruitment figures,
the number of leads and applicants also displayed positive development.
*Outlook confirmed *
As announced with the figures for the financial year 2017, MLP is investing
around EUR 7 million of additional funds in the further development of the
university segment in 2018. Despite these investments in the future, MLP is
anticipating stable EBIT for 2018 at around the 2017 level of operating EBIT
(2017: EUR 46.7 million). Since no one-off expenses are to be accrued in
2018, this means a significant increase over the EBIT of EUR 37.6 million
recorded in 2017. "We are on the right track and are happy to confirm our
annual target. However, our market environment still harbours risks and we
must fight hard for our success," comments Chief Financial Officer, Reinhard
Loose.
*An overview of key figures *
*MLP Group* *Q1/2018* *Q1/2017* *Change in %*
(in EUR million)
Revenue 164.7 158.9 4
Commission income 160.4 153.8 4
Interest income 4.4 5.1 -14
Other revenue 3.2 4.0 -20
*Total revenue* 167.9 163.0 3
*Operating EBIT * 13.0 13.3 -2
*Earnings before interest and 13.0 12.5 4
taxes (EBIT)*
*Earnings before taxes (EBT)* 12.6 12.0 5
*Net profit for the period * 9.3 8.1 8
*Earnings per share 0.09 0.08 13
(diluted/basic) in euros *
*Family clients* 532,100 529,100* 1
*Corporate, institutional 20,200 19,800* 2
clients*
*Client consultants* 1,890 1,909* -1
*) As at December 31, 2017
*About MLP:*
The MLP Group is the partner for all financial matters - for private
clients, as well as companies and institutional investors. With our four
brands, each of which enjoys a leading position in their respective markets,
we offer a broad range of services:
- 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
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. Just under 1,900 self-employed client consultants and more than
1,700 employees work at MLP.
End of Media Release
Issuer: MLP SE
Key word(s): Finance
2018-05-15 Dissemination of a Press Release, transmitted by DGAP - a service
of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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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: investorrelations@mlp.de
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
End of News DGAP Media
685767 2018-05-15
(END) Dow Jones Newswires
May 15, 2018 01:32 ET (05:32 GMT)
