10.11.2016
MLP AG DE0006569908
MLP AG: 9 months 2016: MLP significantly increases total revenue and earnings
DGAP-Media / 10.11.2016 / 07:31
9 months 2016: MLP significantly increases total revenue and earnings
- 9M: Total revenue up 14 percent to EUR 418.7 million, operating EBIT
more than doubled over the previous year to EUR 16.1 million
- Q3: Total revenue rose to EUR 135.0 million (Q3 2015: EUR 122.9
million), operating EBIT increased to EUR 6.6 million (EUR -0.7
million)
- Old-age provision: MLP records slight gains two quarters in succession
- around 76 percent of the new business is based on new guarantee
products
- Wealth management: Significant growth (up 12 percent) in the third
quarter, assets under management reached the EUR 30 billion mark for
the first time
- Outlook: As announced, EBIT level to rise again significantly from 2017
Wiesloch, 10th November 2016 - The MLP Group was able to continue the
positive development of the first six months in the third quarter of 2016.
Some significant gains were made over the previous year in the relevant
KPIs. On this basis, total revenue increased 14 percent to EUR 418.7
million in the first nine months, while operating earnings before interest
and taxes (operating EBIT) more than doubled to EUR 16.1 million. EBIT
including the announced one-off expenses as part of the efficiency
programme was EUR 11.5 million.
In terms of business performance, MLP benefited from significant gains in
the wealth management area (up 12 percent) and non-life insurance area (up
47 percent) in the third quarter. MLP also recorded a slight increase in
the old-age provision area for the second quarter in succession. The fact
that clients are increasingly opting for new guarantee concepts underlines
this consulting segment's return to more positive development. Indeed,
these concepts represented around 76 percent of all contracts concluded in
the first nine months.
"The results demonstrate that we are on the right track. Our efficiency
programme is running to schedule and we are making good progress in terms
of both revenues and operating result. Also we see the old-age provision
area is bottoming out," commented Chief Executive Officer, Dr. Uwe
Schroeder-Wildberg.
9M: Commission income increases 14 percent to EUR 388.9 million
In the period from January to September 2016, total revenue was EUR 418.7
million (9M 2015: EUR 367.8 million) - an increase of 14 percent. At the
same time, commission income rose from EUR 341.1 million to EUR 388.9
million. Due to the low interest rate, interest income of EUR 15.5 million
(EUR 16.1 million) was below the previous year. Other revenue was EUR 14.2
million (EUR 10.6 million).
The breakdown by consulting fields shows significant growth in the non-life
insurance business, in which revenue increased from EUR 36.7 million to EUR
85.6 million. Around EUR 54.3 million of this can be attributed to the
ongoing positive development of the DOMCURA subsidiary acquired mid 2015.
Examining just the third quarter, in which DOMCURA was included in the
previous year's figures from the end of July, the increase in commission
income is 47 percent (from EUR 11.5 million to EUR 16.9 million). At EUR
34.0 million after nine months (9M 2015: EUR 33.6 million), revenue in the
health insurance field is also slightly above the previous year. The same
is also true of the wealth management segment (increase from EUR 121.3
million to EUR 122.9 million). In this field of consulting, the MLP Group
benefited from a very strong third quarter, in which revenues - also
affected by the overall positive capital market development - increased by
12 percent to EUR 43.5 million (Q3 2015: EUR 38.7 million). As of 30th
September, the assets under management at the subsidiary FERI and at MLP
Finanzdienstleistungen AG reached the EUR 30 billion mark for the first
time (30th June, 2016: EUR 29.2 billion). "In the last few years, we have
established the wealth management segment as a key revenue pillar. With
assets under management of EUR 30 billion, we now take an increasingly
strong market position among both institutional and private clients. The
MLP Group today enjoys a significantly more stable position than just a few
years ago," comments Uwe Schroeder-Wildberg.
In the old-age provision field, the brokered premium sum of new business
increased by 3 percent to EUR 2,076 million in the first nine months of the
year (9M 2015: EUR 2,014 million). Despite the growth in new business, the
revenues generated are slightly lower than in the previous year at EUR
127.2 million (EUR 128.0 million). The main reason for this was a one-off
positive effect in the first quarter of the previous year, caused by the
correction of a settlement by a product partner. 2016 has now seen positive
development for two quarters in succession. In the period between July and
September, revenue increased by 2 percent to EUR 45.7 million (Q3 2015: EUR
44.8 million). MLP also benefited from a very fast adjustment to the new
product portfolio in comparison with the market at large. Indeed, only 11
percent of clients opted for classic products with guaranteed interest
rates in the first nine months - while 76 percent went for new guarantee
models and 13 percent preferred purely unit-linked solutions. At EUR 10.4
million, revenue from loans and mortgages in the first nine months of the
year was only slightly below the record level set the previous year (9M
2015: EUR 11.1 million). Other commission and fees, an item that primarily
reflects brokerage of real estate, were EUR 8.8 million (EUR 10.4 million).
9M: Operating EBIT for the period increases to EUR 16.1 million
Operating EBIT (before one-off expenses) increased from EUR 7.4 million to
EUR 16.1 million in the first nine months of the year. As announced, around
EUR 15 million in one-off expenses will be accrued this year within the
scope of the ongoing efficiency programme. Of these, approximately EUR 4.6
million are attributable to the first nine months, which means that the
EBIT is EUR 11.5 million (EUR 7.4 million). The one-off expenses still
outstanding of around EUR 10 million will be accrued in the final quarter.
The one-off expenses also affect the net profit for the period, which is
EUR 9.6 million as at 30th September, 2016 (EUR 3.7 million).
Q3: Total revenue up 10 percent
Taking the third quarter on its own, total revenue increased by 10 percent
to EUR 135.0 million (Q3 2015: EUR 122.9 million). At EUR 6.6 million, the
operating EBIT is above the previous year's level (EUR -0.7 million).
Including one-off expenses of EUR 2.8 million, EBIT amounted to EUR 3.8
million (EUR -0.7 million). The net profit for the period was EUR 4.0
million (EUR -2.9 million).
MLP serves 514,600 family clients and 18,600 corporate clients
As of September 30, 2016, the MLP Group served 514,600 family clients (30th
June, 2016: 512,800). In the first nine months of the year, the gross
number of newly acquired family clients increased by 9 percent to 14,300.
In addition MLP serves 18,600 corporate and institutional clients (30th
June, 2016: 18,600). As of 30th September, 1,924 client consultants worked
for MLP (June 30, 2016: 1,925), on 30th September, 2015 this figure was
1,922.
Outlook: Considerable increase in EBIT still expected for 2017
In February, MLP introduced measures to significantly reduce costs once
again in the financial year 2017 and the following years and to achieve a
positive EBIT effect of EUR 15 million compared to the financial year 2015.
This will incur one-off expenses of around EUR 15 million in the financial
year 2016, some EUR 4.6 million of which were recorded in the first nine
months. On this basis, the objective remains to considerably increase EBIT
again from the financial year 2017 onwards.
"We are doing well in 2016. As is typical for our business model, the
fourth quarter is particularly important. We remain confident that we will
record slightly positive operating development for the financial year,"
explains Chief Financial Officer Reinhard Loose.
An overview of key figures
MLP Group Q3/2016 Q3/2015 Change 9 months 9 months Change (in EUR million) in % 2016 2015 in % Revenue 128.8 119.9 7 404.5 357.2 13 Commission 123.6 114.6 8 388.9 341.1 14 income Interest income 5.2 5.3 -2 15.5 16.1 -4 Other revenue 6.2 3.0 >100 14.2 10.6 34 Total revenue 135.0 122.9 10 418.7 367.8 14 Operating EBIT 6.6 -0.7 >100 16.1 7.4 >100 Earnings before 3.8 -0.7 >100 11.5 7.4 55 interest and tax (EBIT) Earnings before 3.7 -2.8 >100 11.0 5.0 >100 tax (EBT) Net profit 4.0 -2.9 >100 9.6 3.7 >100 Earnings per 0.04 -0.03 >100 0.09 0.03 >100 share (diluted/ basic) in euros Family clients 514,600 512,800* 0 Corporate, 18,600 18,600* 0 institutional clients Client 1,924 1,925* 0 consultants*) June 30, 2016 About MLP: The MLP Group is the partner for all financial matters - for private clients as well as for 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 Finanzdienstleistungen AG: The dialogue partner for all financial matters - FERI AG: The investment expert for institutional investors and high net-worth individuals - DOMCURA AG: The underwriting agency focusing on private and commercial non-life insurance products - TPC GmbH: 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. For the implementation, 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 2,000 self-employed client consultants and just under 1,800 employees work at MLP. End of Media Release --------------------------------------------------------------------------- Issuer: MLP AG Key word(s): Finance 10.11.2016 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 AG 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-ag.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 --------------------------------------------------------------------------- 519245 10.11.2016
|
Weitere Ad-hoc und Unternehmensrelevante Mitteilungen zu
MLP AG ISIN: DE0006569908 können Sie bei EQS abrufen
Finanzdienstleistungen , 656990 , MLP , XETR:MLP