EQS-News
Q1 2024: MLP sets new record for revenue – successful start to the year
- MLP sets new revenue record
- EBIT up to EUR 37.0 million
- Key figures for future revenue raised
EQS-News: MLP SE / Key word(s): Quarter Results Q1 2024: MLP sets new record for revenue – successful start to the year |
- Total revenue rises to a new high of EUR 284 million (Q1 2023: EUR 263 million) – broad and strategically interlinked revenue structure of the MLP Group takes full effect
- Earnings before interest and taxes (EBIT) up significantly to EUR 37.0 million (Q1 2023: EUR 32.4 million)
- Very strong revenue growth in the Wealth competence field, primarily due to wealth management and the interest rate business. Solid growth in the Property & Casualty competence field, which comprises the non-life insurance business with both corporate and private clients. Stable revenue in the Life & Health competence field, which includes old-age provision and health insurance
- Key figures for future revenue development raised to new record highs as of March 31, 2024: assets under management at EUR 59.3 billion (December 31, 2023: EUR 57.0 billion), managed premium volume in non-life insurance at EUR 719 million (December 31, 2023: EUR 687 million)
- MLP confirms EBIT forecast of EUR 75 to 85 million for 2024
- Planning for EBIT of between EUR 100 to 110 million for the end of 2025 reaffirmed – success factors: further increase in assets under management and the non-life insurance portfolio volume, sustainable growth across all competence fields
Wiesloch – The MLP Group achieved record total revenue in the first quarter of 2024. MLP was once again able to fully leverage the Group's broad and strategically interlinked revenue structure, thereby continuing to successfully withstand the unfavourable economic climate. Accordingly, MLP significantly increased earnings before interest and taxes (EBIT) to EUR 37.0 million (Q1 2023: EUR 32.4 million). The extremely strong revenue growth in the Wealth competence field was the main contributor to this increase. MLP benefited from increased revenues in wealth management and the interest rate business compared to the same quarter of the previous year. In addition, the MLP Group was able to achieve new record levels for key figures related to future revenue development, specifically assets under management and managed premium volume in non-life insurance. MLP confirms the current forecast, according to which MLP still expects EBIT at EUR 75 to 85 million for 2024. At the same time, the MLP Group reaffirms its plan to record EBIT of EUR 100 to 110 million by the end of 2025.