MPC Capital shows a successful start to 2017
18 May 2017
Hamburg, 18 May 2017 - MPC Capital AG (Deutsche Börse Scale, ISIN DE000A1TNWJ4), an internationally focused investment manager of real assets, had a successful start to the 2017 financial year. Revenue for the first quarter of 2017 increased by 35 percent to EUR 12.0 million, compared to EUR 8.9 million in 2016. Around EUR 10.0 million came from ongoing asset management services (compared to EUR 7.9 million in 2016). A further EUR 2.0 million was generated by transaction services (compared to EUR 1.0 million in 2016), which mostly stemmed from the completed sale of Ancora, a Portuguese wind farm, as well as the sale of the La Guardia office complex in Amsterdam.
Earnings Before Tax (EBT) for the first three months came to EUR 2.3 million. In 2016, higher other operating income led to slightly better earnings of EUR 3.2 million. The equity ratio as of 31st March 2017 climbed to 75 percent (compared to 69.7 percent on 31 December 2016). The cash position declined to EUR 54.6 million (compared to EUR 65.6 million on 31 December 2016), principally as a result of MPC Capital entering into new equity investments through its co-investment strategy.
In the first quarter of 2017, MPC Capital was able to initiate a number of new projects in the infrastructure, real estate and shipping sectors:
- In the Netherlands, Cairn Real Estate, a subsidiary of MPC Capital, acquired an additional six office properties for EUR 60 million from the transit portfolio of an institutional investor.
- Portugal is the first country for the expansion of the STAYTOO platform into southern Europe: MPC Capital has acquired a site in a central Lisbon for the construction of student apartments.
- In the shipping sector, MPC Capital added additional bulk carrier vessels to its management portfolio by participating in a joint venture with Vogemann, a shipping company.
- MPC Capital has also established an investment company, MPC Container Ships AS, to develop and operate a portfolio of container ships in the feeder segment. In April 2017, the company raised around $100 million USD in equity from institutional investors through private placement. A large portion of this capital has already been invested in container ships which each have a capacity of between 1,000 and 3,000 Twenty-foot Equivalent Units (TEU).
- MPC Capital is preparing the next steps in its initiative to develop renewable energy infrastructure projects throughout the Caribbean.
For 2017 overall, MPC Capital reiterates its expectation of consolidated revenue growth of at least 10 % plus an disproportional rise in EBT.
Note: the figures for the first quarter of 2017 are unaudited and have not been subjected to any accounting review.
About MPC Capital AG
MPC Capital AG is an independent asset and investment manager for real asset investments. Together with its subsidiaries, the company develops and manages real asset investments and investment products for international institutional investors, family offices and professional investors. Its focus is on three asset categories: Real Estate, Shipping and Infrastructure. MPC Capital AG has been quoted on the stock exchange since 2000 and has around 250 employees group-wide.
MPC Capital AG
Head of Investor Relations & Public Relations
Tel. +49 40 38022-4347