EQS-News

MPC Capital with strong first quarter: Key financial figures underline highly profitable business model - Seite 2

Stable income from co-investments - profitability remains at a high level

The financial result amounted to EUR 6.8 million in the first quarter of 2024 (Q1 2023: EUR 4.0 million) and resulted from returns from MPC Capital's co-investment portfolio. Based on a stable cost structure, earnings before taxes (EBT) increased disproportionately by 69% to EUR 7.0 million after the first three months of 2024 (Q1 2023: EUR 4.1 million).

In mid-March, MPC Capital announced that it will increase its stake in MPC Container Ships from 7% to around 14%. The purchase price of around EUR 34 million became due after the end of the first quarter at the beginning of April. Adjusted for this reporting date-related increase in liabilities, the equity ratio (adjusted) remained unchanged at 85% as at March 31, 2024 (December 31, 2023: 85%).

Forecast for 2024 confirmed

The Management Board confirms its forecast for the full year 2024, published in February and raised in mid-March. Accordingly, consolidated revenues are expected to at least match the previous year's level (EUR 37.9 million) and earnings before taxes are likely to be slightly higher than the already high level of EUR 19.3 million in the 2023 financial year.

Based on a strong balance sheet, MPC Capital will continue to focus on expanding its established investment platforms to generate additional growth. MPC Capital sees attractive investment opportunities due to the high demand for investments particularly in connection with the energy transition and the decarbonization of shipping, as well as opportunities arising from market uncertainties and lower valuation levels.

Changes to the Management Board

Constantin Baack will become the new CEO of MPC Capital AG at the end of the Annual General Meeting, which will take place on June 13, 2024. The current CEO Ulf Holländer will move to the Supervisory Board. Christian Schwenkenbecher joins the Management Board as Chief Client Officer. Chief Financial Officer Dr Philipp Lauenstein completes the new management trio.

“I am delighted to see that MPC Capital is in the best hands with my successor Constantin Baack and that this will ensure a seamless transition in the management of the company,” said Ulf Holländer, CEO and designated member of the Supervisory Board of MPC Capital AG. “The operational and economic successes of the first quarter show once again that MPC Capital, with its integrated investment and service offering, is ideally positioned even for volatile market phases.”