27.08.2020 MPC Münchmeyer Petersen Capital AG  DE000A1TNWJ4

DGAP-News: MPC Capital AG publishes 2020 First Half Report


DGAP-News: MPC Münchmeyer Petersen Capital AG / Key word(s): Half Year Results
MPC Capital AG publishes 2020 First Half Report

27.08.2020 / 08:00
The issuer is solely responsible for the content of this announcement.

MPC Capital AG publishes 2020 First Half Report

- Revenue growth and improved operating profitability in challenging market environment
- Container shipping burdened by COVID-19 pandemic, positive momentum in third quarter emerging
- Other asset areas only affected selectively so far
- Forecast for full year remains suspended due to continuing market uncertainty

Hamburg, 27 August 2020 - MPC Capital AG (Deutsche Börse Scale, ISIN DE000A1TNWJ4), an international real asset and investment manager, today publishes its 2020 Interim Financial Report.

Diversification of asset base contributes to resilience of MPC Capital's business model

The course of the first half-year has shown that the multi-asset strategy of MPC Capital AG has so far proven to be comparatively resistant to the economic effects of the COVID-19 pandemic. With the asset base's high level of diversification and the steadily growing spread within the asset areas, the impact on the business of the MPC Capital Group has so far been modest.

At the same time, MPC Capital has broadened the basis of its shipping activities in recent years, so that in the first half of 2020 the weaker container business was largely compensated by a strong tanker market.

Solid growth in asset management and transaction business

Revenue for the MPC Capital Group rose to EUR 24.8 million in the first half of 2020 (H1 2019: EUR 20.0 million). The increase substantially reflects the integration of the equity investment in the tanker specialist Albis Shipping & Transport conducted in Q4 2019.

Management fees amounted to EUR 20.0 million, some 12 % up on the prior-year period (EUR 17.8 million). Transaction fees of EUR 2.4 million were around EUR 0.6 million higher than the weak first half of the previous year (EUR 1.8 million). They related primarily to transactions in the Real Estate unit.

Other revenue for the first half of the year came to EUR 2.4 million (H1 2019: EUR 0.4 million). This item is essentially made up of one-off, non-recurring income from the Shipping unit, for which there is a comparable amount in cost of purchased materials.

EBIT rises thanks to focusing and savings - COVID-19-related write-downs erode EBT

The operating result (EBIT) was improved substantially from EUR -4.2 million in the prior-year period to EUR 1.2 million in the first half of 2020 as a result of the focus on profitable, high-growth business areas and cost savings implemented.

In the previous year, high investment income led to positive earnings before taxes (EBT) in the amount of EUR 1.8 million. In the first half of 2020, impairment adjustments of EUR 2.5 million had to be made to MPC Capital's co-investment portfolio due to the impact of the pandemic on container shipping. EBIT for the first half of 2020 of EUR 1.2 million was consequently around EUR 0.6 million down on the prior-year period.

Overall, MPC Capital AG posted a consolidated profit after tax of EUR 0.1 million for the first half of 2020 (H1 2019: EUR 1.2 million).

EUR 4.3 billion assets under management

The assets under management of the MPC Capital Group as at 30 June 2020 totalled EUR 4.3 billion, around EUR 0.2 billion down on the level as at 31 December 2019 (EUR 4.5 billion). New business brought in asset additions of EUR 0.3 billion. On the other side of the equation there were asset disposals amounting to EUR 0.2 billion. The measurement and currency effects came to EUR -0.3 billion.

Financial assets, which primarily comprise co-investments by MPC Capital, fell from EUR 74.6 million as at 31 December 2019 to EUR 68.0 million as at 30 June 2020. The decline stems mainly from an impairment adjustment on the shares held indirectly in MPC Container Ships ASA as well as from the sale of shares in the BMG portfolio. The cash position declined to EUR 15.4 million (31 December 2019: EUR 20.6 million) substantially as a result of the scaling-back of liabilities as at 30 June 2020. The equity ratio improved from 70.9 % to 76.3 %.

Forecast for 2020 full year remains suspended

Given the economic impact of the COVID-19 pandemic, in May 2020 the Management Board of MPC Capital AG decided to suspend a forecast for the current financial year of 2020 in view of the uncertainty surrounding further business development.

In particular the risk of further waves of infection and the corresponding tightening of restrictions on economic and social activity continues to lead to delayed investment decisions. Furthermore, uncertainties remain with regard to the development of asset valuations in MPC Capital's core markets.

If the economic conditions become more predictable and visibility for the financial year in progress improves, the Management Board will resume forecasting for the 2020 financial year and communicate its view to the capital market.

Key Group figures for H1 2020

  01/01 - 30/06/2020 01/01 - 30/06/2019
Revenue 24,758 19,977
of which from management services 20,012 17,778
of which from transaction services 2,374 1,802
of which miscellaneous 2,372 396
Other operating income 4,442 3,929
Operating result (EBIT) 1,193 -4,180
Earnings before taxes (EBT) 1,218 1,814
Consolidated net profit 137 1,198
Employees (as at June 30) 278 292
  30/06/2020 31/12/2019
Assets under management (EUR billion) 4.3 4.5
Total assets 126,859 139,623
Financial assets 67,953 74,635
Liquid funds* 15,408 20,640
Equity 96,802 98,968
Equity ratio (%) 76.3% 70.9%

*Cash in hand and bank balances; unless otherwise stated, all figures in thousand euros

About MPC Capital AG (www.mpc-capital.de)
MPC Capital AG is an internationally active asset and investment manager specialising in real asset investments. Together with its subsidiaries, the company develops and manages investment products for international institutional investors, family offices and professional investors. Its focus is on the asset categories Real Estate, Shipping and Infrastructure. MPC Capital AG has been quoted on the stock exchange since 2000 and has around 280 employees group-wide.

MPC Capital AG
Stefan Zenker
Head of Investor Relations & Public Relations
Tel. +49 40 38022-4347
e-mail: [email protected]

This communication contains future-related statements that are to some degree subject to risks and uncertainties. Future results may deviate considerably from those currently expected due to various risk factors and uncertainties such as changes in the business, economic and competitive situation, exchange rate fluctuations, uncertainties arising from legal disputes or investigative proceedings, and access to financial resources. MPC Capital AG assumes no responsibility whatsoever for updating the future-related statements contained in this communication.

27.08.2020 Dissemination of a Corporate News, 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: MPC Münchmeyer Petersen Capital AG
Palmaille 75
22767 Hamburg
Phone: +49 (0)40 380 22-0
Fax: +49 (0)40 380 22-4878
E-mail: [email protected]
Internet: www.mpc-capital.de
Indices: Scale 30
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1123669

End of News DGAP News Service

1123669  27.08.2020 


Die wichtigsten Finanzdaten auf einen Blick
  2016 2017 2018 2019 2020 2021 2022e
Umsatzerlöse1 53,79 59,63 42,73 46,85 50,49 32,80 0,00
EBITDA1,2 11,67 15,57 -1,43 -1,58 3,86 3,20 0,00
EBITDA-Marge3 21,70 26,11 -3,35 -3,37 7,65 9,76 0,00
EBIT1,4 9,92 13,80 -3,21 -3,82 1,52 0,86 0,00
EBIT-Marge5 18,44 23,14 -7,51 -8,15 3,01 2,62 0,00
Jahresüberschuss1 10,22 13,16 -18,67 -0,32 -0,15 4,10 0,00
Netto-Marge6 19,00 22,07 -43,69 -0,68 -0,30 12,50 0,00
Cashflow1,7 1,41 -1,33 -8,02 3,04 3,26 5,90 0,00
Ergebnis je Aktie8 0,33 0,41 -0,57 -0,01 -0,01 0,12 0,19
Dividende8 0,00 0,00 0,00 0,00 0,00 0,00 0,04
Quelle: boersengefluester.de und Firmenangaben

  Geschäftsbericht 2020 - Kostenfrei herunterladen.  
1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de

Wirtschaftsprüfer: BDO

XETR:MPCK Charts by TradingView (c)

MPC Capital
WKN Kurs in € Einschätzung Börsenwert in Mio. €
A1TNWJ 3,400 Kaufen 119,84
KGV 2023e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
13,08 16,58 0,79 -55,74
1,32 36,74 2,37 21,92
Dividende '20 in € Dividende '21e in € Div.-Rendite '21e
in %
0,00 0,00 0,00 27.04.2022
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
12.05.2022 25.08.2022 18.11.2021 24.02.2022
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
0,29% 5,04% -0,58% 46,55%
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