Media | 11 May 2017 07:30
MLP AG: MLP starts 2017 with a jump in earnings
|
MLP starts 2017 with a jump in earnings
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.”
Total revenue increases to EUR 163.0 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
MLP supports 519,800 family clients and 19,300 corporate clients
MLP acquired 15 percent of the new family clients via online policy sales mainly for travel health insurance. To further strengthen its online acquisition activities, MLP acquired a 25.1 percent stake in Uniwunder GmbH in March. The start-up has a great deal of expertise in the field of performance marketing, among others via Facebook. Among other things, in the university segment the acquisition of prospective clients is taking place with partners such as “Hochschulinitiative e.V.” or the “Spitzenstudent” platform. As at March 31, some 1,913 client consultants were working for MLP (December 31, 2016: 1,940). This decline can be attributed to the usual seasonal effects.
Splitting of the bank and brokerage business progressing on schedule.
Outlook confirmed: Increase in operating EBIT to at least EUR 45 million
*) As at December 31, 2016
About MLP:
The views and expectations of our clients always represent the starting point in all 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. Over 1,900 self-employed client consultants and just under 1,700 employees work at MLP. End of Media Release Issuer: MLP AG Key word(s): Finance
11.05.2017 Dissemination of a Press Release, transmitted by DGAP – a service of EQS Group AG.
|
| Language: | English |
| Company: | MLP AG |
| Alte Heerstraße 40 | |
| 69168 Wiesloch | |
| Germany | |
| Phone: | +49 (0)6222-308-8320 |
| Fax: | +49 (0)6222-308-1131 |
| E-mail: | investorrelations@mlp.de |
| Internet: | www.mlp-ag.de |
| ISIN: | DE0006569908 |
| WKN: | 656990 |
| Indices: | SDAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Tradegate Exchange |
| End of News | DGAP Media |