MLP AG

MLP starts 2017 with a jump in earnings - Seite 2

Total revenue increases to EUR 163.0 million

Total revenue rose to EUR 163.0 million in the first quarter (Q1 2016: EUR 152.4 million). At EUR 153.8 million, commission income made the greatest contribution to this (EUR 143.6 million). Interest income of EUR 5.1 million was slightly below the previous year's figure (EUR 5.2 million).

The breakdown by consulting areas shows significant growth in the wealth management area, in which revenue increased by 17 percent to EUR 45.7 million (EUR 38.9 million). The MLP Group benefited from an increase in new business both at its subsidiary FERI and in its own private client business. Performance-based remuneration at FERI also increased significantly due to the positive performance of client portfolios. Real estate consultancy services for clients also enjoyed extremely dynamic development. These are recorded under "Other commission and fees", which rose to EUR 4.4 million (EUR 2.4 million), representing an increase of 83 percent. At EUR 52.8 million, revenue in the non-life insurance area is also up on the previous year (EUR 50.7 million). This primarily reflects the ongoing positive development at DOMCURA, the subsidiary acquired in 2015.

With revenue of EUR 11.9 million, the health insurance area remained at the same level as the previous year (EUR 11.8 million). In the old-age provision area, there was a decline in both new business (from EUR 582 million to EUR 567 million) and commission income (from EUR 36.2 million to EUR 35.2 million). With regard to the contracts newly brokered by MLP, the proportion of business without classic guarantees increased further to 91 percent (84 percent).

Operating EBIT increases to EUR 13.3 million

EBIT rose to EUR 12.5 million in the first quarter (EUR 8.7 million). Operating EBIT (before one-off exceptional costs) was EUR 13.3 million (EUR 8.8 million), following one-off exceptional costs of EUR 0.8 million (EUR 0.1 million) in the first quarter for the announced further development of the Group structure. In February, MLP had communicated that it would be significantly increasing its free regulatory equity capital by splitting the brokerage business and regulated banking business. Net profit increased from EUR 6.2 million to EUR 8.6 million in the first quarter.