05.11.2007 – 07:29
MPC Capital AG reports steady placement in first nine months
Hamburg (euro adhoc) -
. Continued demand for ship investments . Comparison affected by previous year's non-recurrent income . Placement volume expected to increase in fourth quarter
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Hamburg, November 5, 2007 - MPC Münchmeyer Petersen Capital AG, the SDAX-listed asset manager, generated sales of EUR 144.9 million in the first nine months of 2007. The 10% decline from the previous year's EUR 160.3 million is attributable to the fact that equity placed was 8% lower than in the previous year (EUR 662 million vs. EUR 722 million) as well as to the previous year's income from the sale of fund properties in an amount of approx. EUR 13 million. At 37.5 million, earnings before interest and taxes (EBIT) were down 17% on the previous year's EUR 44.9 million. Consolidated net income after minority interests declined by 13% from EUR 32.4 million to EUR 28.1 million. Accordingly, earnings per share changed from EUR 3.06 to EUR 2.65. As of September 30, 2007, the MPC Capital Group on average employed 305 people (2006: 256).
In view of the diverse product portfolio of established and new investment concepts, the Managing Board expects the placement volume to increase significantly in the fourth quarter. Accordingly, the equity capital placed and the consolidated net income for the full year 2007 will be in line with expectations, amounting up to EUR 1.1 billion and up to EUR 45 million, respectively.
"The first nine months of fiscal 2006 were characterised by a steady development of the placement volumes. Continued high demand for ship investments and the product portfolio of established and new investment concepts that is available for the fourth quarter suggest that the placement volumes will increase. MPC Capital continues to evolve and to develop new asset classes and products for institutional investors and has strengthened the MPC Capital brand by restructuring its sales organisation. All this will create an excellent position and growth perspective for the coming years," said Dr. Axel Schroeder, CEO of MPC Capital AG.
Key figures of the first nine months
|In TEUR |1.1.-30.09.07|1.1.-30.09.06|+/- | |Sales |144,901 |160,277 |- 10% | |EBIT |37,483 |43,712 |- 17% | |Consolidated net income after |28,130 |32,404 |- 13% | |minority interests | | | | |Earnings per share in EUR |2.65 |3.06 |- 13% | |Employees |305 |256 |+ 19% |
Equity placed in the first nine months |Business segment in EUR million|1.1.-30.09.07|1.1.-30.09.06|+/- | |Real estate funds |180 |178 |+ 1% | | thereof real estate |145 |88 |+ 65% | |opportunity funds | | | | |Corporate investments |309 |302 |+ 2% | | thereof ship investments |291 |293 |- 1% | |Life insurance funds |83 |113 |- 27% | |Structured products |48 |87 |- 58% | |Private equity funds |16 |34 |- 53% | |Investment funds |25 |9 |+ 178% | |TOTAL |662 |722 |- 8% |
*Differences due to rounding.
Since 1994, over 157,000 customers (YE 2006: 141,000) have invested EUR 6.43 billion in 277 funds with a total investment volume of EUR 16.17 billion.
The interim report on the nine-month period ended September 30, 2007 is available in the Investor Relations section at www.mpc-capital.com.
end of announcement euro adhoc 05.11.2007 07:28:00
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