- Further improvement in profitability
- Strong environment in container shipping leads to high earnings contributions
- Focus on expanding sustainable investment strategies
- Forecast for full year 2021 confirmed
Hamburg, November 18, 2021 - Hamburg-based investment manager and co-investor MPC Capital AG (Deutsche Börse Scale, ISIN DE000A1TNWJ4) has further significantly improved its profitability in the third quarter of 2021.
A solid market environment in the asset segments addressed by MPC Capital - real estate, shipping and renewable energies - led to a further stabilization of the earnings base. The sustained momentum in container shipping in particular provided a strong tailwind. In the Real Estate segment, MPC Capital benefited from high demand for sustainable residential projects in Germany. In the renewable energy sector, the investment vehicle MPC Energy Solutions, listed in Oslo since January, further expanded its development portfolio.
Ulf Holländer, CEO of MPC Capital AG: "Real assets are en vogue. And they play an important role in accompanying a successful energy transition. At the same time, we have successfully positioned MPC Capital in our asset segments, and we expect sustained, stable earnings from our shipping activities in particular over the next few years. This provides us with high visibility on our short to medium-term business development. We believe MPC Capital is ideally positioned to take advantage of additional opportunities arising from the energy transition for our investment strategies. The recently announced sale of our real estate activities in the Netherlands provides us with additional headroom to accelerate our growth in sustainable investments."
EBT margin above 30% in the third quarter
MPC Capital Group's revenues in Q3 2021 were EUR 8.7 million (Q3 2020: EUR 14.7 million). Of this, EUR 6.6 million (Q3 2020: EUR 8.8 million) was attributable to recurring management services. The expected decline in revenues from management services is due to a change in the Group structure. Since the end of 2020, the service business in the shipping segment has increasingly been handled jointly with partners in joint ventures, to establish a broader market presence. As a result, revenues and expenses are now only consolidated proportionately.
Revenues from Transaction Services amounted to EUR 2.0 million in the third quarter of 2021. The previous year's figure of EUR 5.7 million was characterized by high proceeds from the sale of a solar park portfolio.
Other operating income of EUR 4.8 million (Q3 2020: EUR 0.4 million) mainly includes performance-based income from Shipping. Above all, the positive development of container shipping contributed to this.
Based on a further improvement in the cost structure, earnings before taxes (EBT) improved to EUR 2.8 million in the third quarter of 2021 (Q3 2020: EUR 0.3 million). The EBT margin in the third quarter was 32% (Q3 2020: 2%).
EBT after nine months at EUR 5.1 million, full-year forecast confirmed
On a cumulative basis, the MPC Capital Group's revenues in the first nine months of 2021 were EUR 24.6 million (9M 2020: EUR 39.5 million). Management fees amounted to EUR 20.3 million (9M 2020: EUR 28.8 million), transaction fees to EUR 4.1 million (9M 2020: EUR 8.1 million).
Earnings before taxes (EBT) amounted to EUR 5.1 million after the first nine months of 2021 (9M 2020: EUR 1.5 million). Cash and cash equivalents amounted to approximately EUR 37.8 million as of September 30, 2021 (December 31, 2020: EUR 24.8 million). The equity ratio was 78% (December 31, 2020: 76%).
The forecast for the financial year 2021, which foresees a lower level of sales and a significant improvement in EBT compared to the previous year, is confirmed.
Note: The figures for the third quarter and the first nine months of 2021 have not been audited and have not been subject to an auditor's review.
About MPC Capital AG (www.mpc-capital.com)
MPC Capital AG is an internationally active asset and investment manager specialising in real asset investments. Together with its subsidiaries, the company develops and manages 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 200 employees group-wide.
MPC Capital AG
Head of Investor Relations & Public Relations
Tel. +49 40 38022-4347
This communication contains future-related statements that are to some degree subject to risks and uncertainties. Future results may deviate considerably from those currently expected due to various risk factors and uncertainties such as changes in the business, economic and competitive situation, exchange rate fluctuations, uncertainties arising from legal disputes or investigative proceedings, and access to financial resources. MPC Capital AG assumes no responsibility whatsoever for updating the future-related statements contained in this communication.
Head of Investor & Public Relations
+49 (40) 380 22 - 4347