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Dow Jones News
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MLP SE: H1: MLP increases total revenue by 3 -2-

DJ MLP SE: H1: MLP increases total revenue by 3 percent, EBIT amounts to EUR 12.1 million

Dow Jones received a payment from EQS/DGAP to publish this press release.

DGAP-Media / 2018-08-09 / 07:32 
 
*H1: MLP increases total revenue by 3 percent, EBIT amounts to EUR 12.1 
million* 
 
  · *Total revenue rose to EUR 310.6 million in the first six months of the 
  year (H1 2017: EUR 300.6 million), net profit of EUR 9.8 million at the 
  high level of the previous year (EUR 10.5 million) * 
 
  · *Broad-based growth across virtually all consulting fields * 
 
  · *Wealth management: Revenue increases by 6 percent to EUR 97.5 million; 
  at EUR 35.4 billion, assets under management reach new record level * 
 
  · *Q2: Slight growth in the old-age provision area, total revenue up 4 
  percent to EUR 142.7 million; EBIT: EUR -1.0 million; Net profit: EUR 0.5 
  million * 
 
  · *Outlook confirmed: Despite increasing investments in the future, EBIT 
  is set to remain at the 2017 operating EBIT level of EUR 46.7 million* 
 
*Wiesloch, August 9, 2018 *- The MLP Group was able to further increase 
total revenue to the new record level of EUR 310.6 million in the first six 
months of the year and confirm the high level of earnings in the mid-term 
comparison. MLP recorded gains in virtually all fields of consulting. The 
areas displaying particularly strong growth were real estate brokerage (up 
37 percent), non-life insurance (up 7 percent) and wealth management (up 6 
percent) - i.e. those segments that MLP strategically established only a few 
years ago and has been expanding ever since as a way of securing further 
diversification. At EUR 12.1 million after the first six months of the year, 
earnings before interest and tax (EBIT) are slightly below the previous 
year's high figure of EUR 14.5 million, although still well up in the 
mid-term comparison - and thereby confirm that earnings are also on the 
right track. 
 
In the traditionally rather quiet second quarter, total revenue increased by 
4 percent to EUR 142.7 million. At EUR -1.0 million, EBIT was behind the 
previous year's figure. The reasons for this include cost postponements and 
a one-off positive effect in the same quarter of the previous year. At the 
end of the first half of the year, MLP can now confirm its outlook for the 
financial year: Despite substantial investments in the future, the aim is 
still to record EBIT at the level of the previous year's operating EBIT (EUR 
46.7 million). 
 
"We are satisfied with the first half of the year overall and the trend is 
for further growth. Our strategy of diversifying revenue streams is taking 
effect with increasing dynamism and we are seeing continuous growth across 
virtually all consulting fields," comments Chief Executive Officer, Dr. Uwe 
Schroeder-Wildberg. "We accepted reduced earnings in the second quarter 
based on various effects. However, we remain confident for the year." 
 
*Total revenue increases to EUR 310.6 million* 
In the period from January to June, total revenue increased by 3 percent to 
EUR 310.6 million (H1 2017: EUR 300.6 million), the highest level since the 
sale of MLP's own insurance companies in 2005. At the same time, commission 
income increased from EUR 281.3 million to EUR 295.2 million. At EUR 8.8 
million, interest income was slightly below that of the previous year (EUR 
10.3 million) due to market trends. 
 
The breakdown by consulting fields shows that the real estate brokerage area 
recorded the strongest growth. It rose by 37 percent to EUR 10.1 million 
(EUR 7.4 million). With revenue of EUR 8.9 million, loans and mortgages is 
16 percent above the previous year (EUR 7.7 million). The non-life insurance 
area is displaying continuous growth thanks to the positive development both 
in MLP's private client business and at the subsidiary DOMCURA. With revenue 
of EUR 77.3 million after the first six months of the year, it was 7 percent 
above the previous year (EUR 72.3 million). The wealth management area too, 
continued to display very pleasing development. Assets under management rose 
to EUR 35.4 billion (March 31, 2018: EUR 33.9 billion) and a new peak. At 
EUR 97.5 million, revenue is up on the previous year by 6 percent (H1 2017: 
EUR 92.1 million). Here too, the Group is benefiting both from a successful 
MLP private client business and continuous growth at its subsidiary FERI. In 
the health insurance area, MLP recorded revenue of EUR 23.2 million in the 
first half of the year (EUR 22.7 million). 
 
In the old-age provision area, the brokered premium sum of new business 
increased by 9 percent to EUR 1,351 million in the first six months of the 
year (EUR 1,237 million). At EUR 76.2 million, however, revenue remained 
below the previous year's level of EUR 77.2 million. This weaker revenue 
development can primarily be attributed to effects resulting from adoption 
of the new IFRS 15 accounting standard, which has been in force since 
January. The effects were mainly felt in the first quarter, but also in the 
second quarter. Yet despite this, sales revenue rose by 1 percent between 
April and June to EUR 42.5 million (Q2 2017: EUR 42.0 million). 
 
*EBIT at EUR 12.1 million * 
Earnings before interest and taxes were EUR 12.1 million in the first half 
of the year. In the same period of the previous year, operating EBIT (before 
one-off expenses) was EUR 15.9 million, while EBIT was EUR 14.5 million. The 
mid-term comparison (H1 2016: EUR 7.7 million, H1 2015: EUR 8.1 million, H1 
2014: EUR 4.5 million) underlines the overall successful earnings trend. 
Group net profit was EUR 9.8 million as at June 30, 2018 (H1 2017: EUR 10.5 
million). 
 
*Q2: Total revenue up 4 percent* 
In the traditionally rather quiet period from April to June, total revenue 
rose by 4 percent to EUR 142.7 million (Q2 2017: EUR 137.6 million). At EUR 
-1.0 million, EBIT was below the previous year (operating EBIT: EUR 2.7 
million, EBIT: EUR 2.1 million). There are various reasons for this, 
including a one-off positive effect at the subsidiary DOMCURA in the same 
quarter of the previous year, cost postponements and the fact that the 
brokered premium sum in the high-margin old-age provision area is not yet 
fully reflected under revenue or earnings due to the new accounting 
standards. In addition to this, MLP is making increased investments in the 
university segment - as announced at the start of the year - which are 
reflected in various items, including personnel expenses. Net profit was EUR 
0.5 million following EUR 2.0 million in the previous year's quarter. 
 
*MLP supports 535,100 family clients and 20,400 corporate clients * 
As of June 30, 2018, the MLP Group looked after 535,100 family clients 
(March 31, 2018: 532,100) and 20,400 corporate and institutional clients 
(March 31, 2018: 20,200). At this time, 1,880 client consultants (March 31, 
2018: 1,890) were working for MLP. 
 
*Strategic initiatives are on track and on schedule * 
The strategic initiatives communicated in February are still running 
according to schedule. The further diversification of the revenue basis 
continued successfully in the first half of the year. At the same time, MLP 
is still working actively on potential further acquisitions. In terms of 
digitalisation, MLP made significant progress in supporting the consulting 
process in the first six months with extended usage of electronic signatures 
for contract conclusions and a new web application for simplified portfolio 
transfers. At the same time, the share of new clients initiated online stood 
at 27 percent in the first half of the year. Another focus is on 
strengthening the university segment. Some 64 university teams have been 
established over the last few months, focusing on acquiring young 
consultants and clients and then supporting them. Within the scope of these 
activities, the number of applications received for MLP consultant positions 
almost quadrupled, and MLP is anticipating even greater dynamism in terms of 
recruitment in the second half of the year. 
 
*Outlook confirmed * 
As announced during the annual press conference, MLP is investing in the 
strengthening of the university segment - around EUR 7 million in the 
current year. Despite these increased expenses, 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. 
"The second half of the year, and the fourth quarter in particular, continue 
to play a key part in terms of earnings for the year. In the first six 
months, we established a solid basis and are now anticipating positive 
development up to the end of the year," comments Chief Financial Officer, 
Reinhard Loose. 
 
*An overview of key figures * 
 
*MLP Group* *Q2/2018* *Q2/2017* *Change     *6     *6   *Change 
(in EUR                          in %*    months months  in %* 
million)                                  2018*  2017* 
 
Revenue       139.3     132.7      5      304.0  291.6     4 
Commission    134.8     127.5      6      295.2  281.3     5 
income 
Interest       4.5       5.2      -14      8.8    10.3    -15 
income 
Other          3.4       5.0      -32      6.6    9.0     -27 
revenue 
*Total        142.7     137.6      4      310.6  300.6     3 
revenue* 
*Operating    -1.0       2.7       -       12.1   15.9    -24 
EBIT * 
*Earnings     -1.0       2.1       -       12.1   14.5    -17 
before 
interest 
and taxes 
(EBIT)* 
*Earnings     -1.0       1.9       -       11.7   13.9    -16 
before tax 
(EBT)* 
*Net profit    0.5       2.0      -75      9.8    10.5     -7 
for the 
period * 
*Earnings      0.0      0.02      -100     0.09   0.10    -10 
per share 
(diluted/ba 
sic) in 
EUR* 
 
*Family                                   535,10 532,10    1 
clients*                                    0      0* 
*Corporate,                               20,400 20,200    1 
institution                                        * 
al clients* 
*Client                                   1,880  1,890*    -1 
consultants 
* 
 
*) As at March 31, 2018 
 

(MORE TO FOLLOW) Dow Jones Newswires

August 09, 2018 01:32 ET (05:32 GMT)

*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 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. 
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 
 
2018-08-09 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. 
 
The DGAP Distribution Services include Regulatory Announcements, 
Financial/Corporate News and Press Releases. 
Archive at www.dgap.de 
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 
 
712443 2018-08-09 
 
 

(END) Dow Jones Newswires

August 09, 2018 01:32 ET (05:32 GMT)

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