EQS-News

MPC Capital Reports on Strong Financial Year 2023: Adjusted Pre-Tax Profit Up by 31%, Dividend Raised to 27 Cents per Share - Seite 3

Solid balance sheet as the basis for continued dynamic business development

MPC Capital sees itself well positioned to further develop its business at a high level in 2024 and build on the successful financial year 2023. Based on a balance sheet with a comfortable cash position and an equity ratio of 85.2%, MPC Capital will focus on expanding its established investment platforms and seize opportunities to generate additional growth. In particular, MPC Capital sees attractive investment opportunities due to the high demand for investments related to the energy transition, but also due to opportunities arising from market uncertainties and reduced valuation levels.

Additional growth impulses for the ship management platform and thus for recurring revenues from management fees are expected from the acquisition of Hamburg-based ship manager Zeaborn, which was announced at the end of 2023. Zeaborn manages a fleet of around 100 vessels, of which approximately 70 are expected to come under MPC Capital's management. The transaction is expected to be completed by the end of the first quarter of 2024.

Forecast for 2024: Revenue at least at previous year's level, EBT at high level of 2023

For the financial year 2024, MPC Capital expects a group revenue that is likely to be at least at the level of the previous year. The strength of the growth will depend, among other things, on the closing of the planned acquisition of Zeaborn, its timing, and the progress of the integration.

Earnings before taxes (EBT) is expected to remain at the high level of 2023. Due to integration costs, there will be no contribution to results from the planned acquisition of Zeaborn in 2024.

With a positive operating cash flow and further capital returns from co-investments, liquidity is expected to decrease against the background of investing activities during the year and an increased dividend payment. The Management Board continues to target an equity ratio above 70%.

Key Figures 2023

Income Statement	2023	2022	+/-
	EUR‘000	EUR‘000
Revenue	37,948	36,492	+4%
thereof Management Fees	30,532	29,223	+4%
thereof Transaction Fees	7,037	6,960	+1%
thereof other	379	309	+23%
Other operating income	8,005	26,496	-70%
Personnel expenses	-19,779	-19,751	+0%
Other operating expenses	-17,534	-23,590	-26%
Earnings before taxes (EBT)	19,301	31,222	-38%
EBT adj.1	19,301	14,761	+31%
Group profit	16,860	28,157	-40%
Earnings per share (€)	0.37	0.74	-50%
Dividend per share (€)	0.27	0.20	+35%
Balance Sheet	31 Dec 2023	31 Dec 2022
	EUR‘000	EUR‘000
Total assets	152,077	150,792	+1%
Fixed assets	61,500	57,829	+6%
thereof financial assets (mainly Co-Investments)	56,022	54,923	+2%
Current assets	90,276	92,767	-3%
thereof cash and cash balances	61,140	69,068	-11%
Equity	129,522	123,189	+5%
Equity ratio	85.2%	81.7%	+3.5pp
Employees (average for the year)2	169	154	+15 emp.