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| 26.03.2010 |
| MPC Capital AG secures stable funding base / Financial Year Result 2009 |
Hamburg, March 26, 2010 - MPC Capital successfully finalizes important and far-reaching commitments with its financial partners. The result is secure financing for MPC Capital AG as well as for funds currently placed and funds to be placed in future. Additionally the three main shareholders show their trust in MPC Capital by means of a capital increase. This will strengthen MPC Capital's position for a sustainable growth path. MPC Capital closes an economically difficult year 2009 with a net loss of EUR 78,2 million and from a stable funding base can focus on new growth prospects. MPC Capital expects equity placement for the first quarter of 2010 to reach between EUR 25 million and EUR 30 million (1Q/FY09: EUR 11.1 million). Bank agreement and capital increase solid foundation for future growth With the commitments by its financing partners MPC Capital secures long-term financing for the company as well as for funds currently placed and funds to be placed in future. The secure funding base is also a solid basis for the initiation of new projects. Additionally the three main shareholders Corsair Capital, MPC Holding and Oldehaver Beteiligungsgesellschaft show their trust in MPC Capital by means of a capital increase that will further strengthen the company. The capital increase will take place in April 2010. Depending on the final participation of the free float the equity of MPC Capital will be strengthened by at least EUR 20 million. Value adjustments and special effects weigh on FY09 result MPC Capital fiscal year 2009 result on an EBITDA-basis reached EUR -15.1 million. MPC Capital AG generated sales revenues of EUR 56.2 million (2008: EUR 122.4 million) on a placement volume of approx. EUR 147 million in the year 2009. The initiation and distribution of new products accounted for approx. 19% of the total revenues. Recurring revenues from fund management contributed approx. 53%, making them a stable factor in what is a difficult market environment at present. Other revenues such as the successful management of sales processes for funds of the MPC Capital Group accounted for 28%. Especially the decline in the international shipping markets led to non-cash special effects and value adjustments. These primarily relate to investments and assets in the maritime segment. The Group's net loss for the year 2009 amounted to EUR 78.2 million (2008: EUR 100 million). Total assets of the MPC Capital Group stood at EUR 216.4 million as of the balance sheet date(2008: EUR 242.8 million), while the headcount amounted to 267 people (2008: 381). Cost-cuttings implemented successfully The cost-cutting measures provided for in the strategy programme developed by MPC Capital AG at the beginning of 2009 were implemented successfully in the fiscal year. Expenses declined from EUR 76.25 million in the previous year to EUR 55.4 million in 2009. MPC Capital will continue the cost-cutting programme in 2010.  Inquiries: Till Gießmann Investor Relations Phone: +49 40/380 22-4347 Fax: +49 40/380 22-4878 E-mail: ir@mpc-capital.com |
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