MLP SE: H1: MLP increases total revenue by 6 percent - EBIT also up on previous year
H1: MLP increases total revenue by 6 percent - EBIT also up on previous year
- Total revenue rose by 6 percent to EUR 329.2 million in the first six months (H1 2018: EUR 310.6 million); at EUR 12.2 million, EBIT is slightly above the previous year's level (EUR 12.1 million)
- Growth recorded in all parts of the Group and across virtually all consulting areas
- Strongest growth recorded in the old-age provision area (up 10 percent), the wealth management area (up 7 percent) and the non-life insurance area (up 6 percent)
- Outlook confirmed: Despite strong investments in the future to develop the university segment, MLP still anticipates modest EBIT growth
Wiesloch, August 8, 2019 - The MLP Group is continuing the growth trend it has enjoyed over the past quarters and was able to increase total revenue by 6 percent in the first half of 2019 to its highest ever level of EUR 329.2 million. MLP recorded gains in all parts of the Group and across virtually all consulting areas. In particular, the old-age provision area (up 10 percent), the wealth management area (up 7 percent) and the non-life insurance area (up 6 percent) recorded the most significant increases. Alongside new business, existing business also continued to display positive development. Indeed, assets under management rose to EUR 37.0 billion, while the premium volume in the non-life insurance area throughout the Group rose to EUR 396.4 million. At EUR 12.2 million (H1 2018: EUR 12.1 million), earnings before interest and taxes (EBIT) after the first six months were slightly above the previous year, after having fallen slightly below the previous year's figure in the first quarter. At the end of the first half of the year, MLP confirms its outlook for the year.
"We were able to continue the positive trend of previous quarters and also display visible growth in the first half of the year. The quality of our revenue is continuing to rise. We are benefiting from the strategic further development of the last few years, namely the significant diversification of our revenue basis. Thanks to rising volumes, particularly in the wealth management and non-life insurance areas, as well as successful consultant acquisition, we are continuing to expand sustainable revenue sources for the future," comments Chief Executive Officer, Dr. Uwe Schroeder-Wildberg.
H1: Total revenue increases to EUR 329.2 million
The breakdown by consulting areas shows the strongest growth rates in the first half of the year in the old-age provision area, in which revenue rose by 10 percent to EUR 84.0 million (EUR 76.2 million). MLP benefited from strong new business in the occupational pension provision, in which the premium sum of new business rose by 27 percent. In addition to this, the expansion of the university business had a positive effect, as initial provision modules for example in the field of occupational disability insurance are extremely important, particularly for young clients. The wealth management area rose by 7 percent. Revenue in this area was EUR 104.7 million (EUR 97.5 million). At EUR 37.0 billion, assets under management recorded a new all-time high (March 31, 2019: EUR 36.3 billion). Revenue in the non-life insurance area increased by 6 percent to EUR 81.7 million (H1 2018: EUR 77.3 million). This was based on successful development both at DOMCURA and in MLP's private client business. As an indicator of current levels, the premium volume rose to EUR 396.4 million in the first half of the year (H1 2018: EUR 374.3 million). The MLP Group is therefore operating at the level of a medium-sized non-life insurer. Bucking the overall market trend, the health insurance area was also able to record a slight gain with a 3 percent increase in revenue to EUR 23.8 million (EUR 23.2 million). With revenue of EUR 9.0 million (EUR 8.9 million), the loans and mortgages business was also slightly above the same period in the previous year. Following an extremely dynamic closing quarter in the previous year, the real estate brokerage, in which revenue decreased from EUR 10.1 million to EUR 8.1 million, was still in decline after the first six months of 2019. However, the second quarter already shows stimulation in this area and this is likely to accelerate in the second half of the year.
EBIT slightly above the previous year
Q2: Revenue up 6 percent
MLP serves 545,800 private clients and 20,950 corporate and institutional clients
Strong balance sheet
An overview of key figures
*) As at March 31, 2019
- MLP: The dialogue partner for all financial matters
- FERI: The investment expert for institutional investors and high net-worth individuals
- DOMCURA: The underwriting agency focusing on private and commercial non-life insurance products
- TPC: 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. In advising and supporting our clients, 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. More than 1,900 self-employed client consultants and around 1,700 employees work at MLP.
End of Media Release
Issuer: MLP SE
Key word(s): Finance
08.08.2019 Dissemination of a Press Release, transmitted by DGAP - a service of EQS Group AG.
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