MPC Capital confirms revenue and profit targets for 2017
31 Aug 2017
Development according to plan in first half of 2017
Revenue at level of previous year
Dynamic second half expected
Hamburg, 31 August 2017 - MPC Capital AG (Deutsche Börse Scale, ISIN DE000A1TNWJ4), an international investment manager with focus on real assets, today publishes its 2017 Interim Financial Report. The development in revenue and earnings is in line with the management's expectations.
Revenue for the MPC Capital Group came to EUR 22.7 million in the first half of 2017 (1st half of 2016: EUR 22.9 million). Management fees were increased slightly to EUR 18.7 million (1st half of 2016: EUR 18.2 million). Transaction fees of EUR 3.8 million for the first half of 2017 still lagged behind the prior-year figure (EUR 4.8 million).
Consolidated earnings for H1 2017 of EUR 3.9 million was down slightly on the previous year (EUR 4.8 million). As a result of higher other operating income and a higher result of associates carried at equity in the prior-year period, earnings before tax (EBT) of EUR 3.5 million for the first half of 2017 were well down on the six-month EBT for 2016 of EUR 7.3 million. With net assets declining from EUR 134 million to EUR 125 million, the equity ratio rose from 70 % to 78 %.
MPC Capital significantly increased its investing activity across all three asset areas Real Estate, Shipping and Infrastructure in the first half of 2017. MPC Capital invested around EUR 20.0 million in real estate and infrastructure projects in the Netherlands, Portugal and the Caribbean, and also in the new listed shipping company MPC Container Ships AS.
The assets under management (AUM) as at 30 June 2017 totalled EUR 5.0 billion, a slight decrease on the level as at 31 December 2016 (EUR 5.1 billion). The asset additions of EUR 0.4 billion resulting from new business were offset by asset sales and also, to a minor extent, currency effects.
For the second half, MPC Capital expects to see a marked upturn in highly profitable transaction business as experienced in the previous year, based on a well-filled project pipeline. On both the acquisitions and sales sides, a number of projects are nearing completion in all three asset areas.
Transactions already contracted and initiated are likely to lead to a substantial rise in revenue and profit in the second half of 2017 compared with the first half of the year. For 2017 overall, MPC Capital therefore confirms its expectation of consolidated revenue growth of at least 10 % and a disproportional rise in EBT.
Key Group figures for 1st half of 2017
About MPC Capital AG MPC Capital AG is an international 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 the 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.