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MLP SE: Q1 2021: Preliminary EBIT recorded by MLP SE significantly above the previous year's level

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MLP SE / Key word(s): Preliminary Results/Quarter Results
MLP SE: Q1 2021: Preliminary EBIT recorded by MLP SE significantly above the previous year's level

27-Apr-2021 / 15:39 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

On the basis of preliminary business figures for the first quarter of 2021, MLP recorded preliminary earnings before interest and taxes (EBIT) of around EUR 22 million (Q1 2021). This is significantly higher than the comparative figure from the same period in the previous year (Q1 2020: EUR 10.7 million).

Alongside overall positive development in terms of operations, this increase is in particular due to gains recorded in wealth management. In addition to a significant rise in assets under management and further growth in new business, this is due to an increase in performance-based compensation significantly above expectations. Performance-based compensation is accrued for the positive performance of investment concepts in wealth management and is largely recognised in income. The effect this performance-based compensation had on revenue amounted to around EUR 11.5 million in the first quarter of 2021 (Q1 2020: EUR 0.5 million).

Moreover, the expense from valuation result and loan loss provisions in the first quarter of 2021 fell by EUR 2.7 million compared to the same period of the previous year (Q1 2021: EUR -0.9 million, Q1 2020: EUR -3.6 million). In the previous year, the EBIT for the first quarter was affected due increased loan loss provisions and corona-related revaluations of own investments.

For the financial year 2021, MLP is still expecting an EBIT in the range of EUR 55 million to EUR 61 million despite the significant rise in EBIT in the first quarter 2021. This takes into account the continuing uncertainties due to the impact of the corona pandemic on the further course of business.

MLP will report the full financial figures for the first quarter of 2021 on 12 May 2021 as scheduled.

Performance-based compensation, assets under management, and EBIT represent alternative KPIs, which are described in further detail at:

https://mlp-se.com/investors/mlp-share/key-figures/

Contact/notifying person:
Jan Berg
Head of Corporate Communications
Tel: +49 (0)6222 308 4595
E-mail: jan.berg@mlp.de

 

27-Apr-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:

English

Company:

MLP SE

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-se.de

ISIN:

DE0006569908

WKN:

656990

Listed:

Regulated Market in Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Tradegate Exchange

EQS News ID:

1188596


 

End of Announcement

DGAP News Service

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