MLP AG

MLP starts 2017 with a jump in earnings

DGAP-Media / 11.05.2017 / 07:30 MLP starts 2017 with a jump in earnings

• Q1: Operating EBIT up more than 50 percent to EUR 13.3 million
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• Total revenue up 7 percent to EUR 163.0 million - wealth management and real estate brokerage significantly above previous year
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• Net profit increases from EUR 6.2 million to EUR 8.6 million
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• New client acquisition plus 9 percent - around 15 percent of new clients acquired online
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• Outlook confirmed: As announced, operating EBIT to increase to at least EUR 45 million
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Wiesloch, May 11, 2017 - MLP started 2017 with a significant increase in earnings. In the first quarter, operating earnings before interest and taxes (operating EBIT) rose by 51.1 percent to EUR 13.3 million. Above all, MLP benefited from significant revenue increases in the wealth management (plus 17 percent) and real estate ("Other commission and fees" plus 83 percent) consulting areas. Total revenue increased by 7 percent to EUR 163.0 million. As a key early indicator of further business development, new client acquisition also displayed positive development. Between January and the end of March, MLP acquired 4,900 new family clients, which represents an increase of 9 percent. Around 15 percent of these clients were acquired online.

"We started the year with the objective of significantly increasing our earnings. After the first three months, we are right on target and satisfied with the start to the year. This also underlines the fact that our strategic initiatives are increasingly taking effect," explains Chief Executive Officer, Dr. Uwe Schroeder-Wildberg. "However, there are still risks, particularly in the market for old-age provision, yet also in the health insurance segment due to political uncertainties."