Sales up in third quarter with balanced EBT
Nine-month figures down on previous year
Hamburg, November 16, 2018 - MPC Capital AG (Deutsche Börse Scale, ISIN DE000A1TNWJ4), an international asset and investment manager of real assets, has developed unevenly in the third quarter of 2018. While revenues in the third quarter increased by 18 percent from EUR 8.9 million in the previous year to EUR 10.5 million, earnings before taxes (EBT) of EUR 0.1 million were significantly lower than in the third quarter of 2017 (EUR 1.3 million), which was affected by high other operating income.
Quarterly revenues from management services up 17 percent
Revenues from recurring management services developed positively, rising by 17 percent from EUR 8.0 million in the previous year to EUR 9.4 million in the third quarter of 2018. At EUR 1.1 million, revenues from transaction services were slightly higher than in the third quarter of 2017 (EUR 0.9 million), mainly resulting from transactions in the real estate and shipping sectors.
Revenue and EBT down year-on-year after nine months
Despite the growth in the third quarter, revenues after the first nine months 2018 of EUR 30.2 million were still slightly below the same period of 2017 (EUR 31.6 million) due to high one-off effects in the first half of the previous year. Revenues from management services amounted to EUR 26.1 million (9M 2017: EUR 26.7 million), revenues from transaction services to EUR 3.9 million (9M 2017: EUR 4.7 million). EBT after nine months was EUR 3.9 million (9M 2017: EUR 4.8 million). The equity ratio increased to 82% as of September 30, 2018 (December 31, 2017: 75%).
No noticeable increase of transaction activity expected in fourth quarter
In contrast to previous years, no significant revival in transaction activity is expected in the final quarter of 2018. Investors are acting more cautiously - both on the buy and sell side. Nevertheless, MPC Capital AG is sticking to its medium to long-term growth targets on the basis of a well-filled project pipeline.
Adjustment of forecast
As communicated ad hoc on November 9, 2018, the Management Board has adjusted its forecast for the full year 2018 due to delays in project completion. For the current financial year, MPC Capital expects consolidated sales of between EUR 40 and EUR 42 million and a slightly positive EBT.
Note: The figures for the third quarter and the first nine month of 2018 were not audited and were not subject to an audit review.