MPC Capital AG confirms forecast for 2008
Geschrieben am 06-05-2008 |
. Placement volume influenced by product availability
. Consolidated net income down 70% in the first quarter of 2008
. Outlook for 2008 confirmed
-------------------------------------------------------------------------------- ots.CorporateNews transmitted by euro adhoc. The issuer is responsible for the content of this announcement. --------------------------------------------------------------------------------
finances/First Quarter Results 2008
Hamburg (euro adhoc) - Hamburg, 6 May 2008 - MPC Münchmeyer Petersen Capital AG, the SDAX-listed wealth and asset manager, generated sales revenues of EUR 29.0 million in the first quarter of 2008 and started into fiscal 2008 with a 30% decline from the previous year's EUR 41.6 million. This development is largely attributable to the fact that the availability of products at the beginning of the year was lower than last year. At EUR 3.6 million, earnings before interest and taxes (EBIT) were down 60% on the previous year's EUR 9.1 million. Consolidated net income after shares of other shareholders declined by 70% from EUR 7.7 million to EUR 2.3 million, which represents earnings per share of EUR 0.22 (2007: EUR 0.72).
As of the balance sheet date, the Group's total assets amounted to EUR 303.0 million (31 Dec. 2007: EUR 306.4 million). The equity ratio stood at 35.3% (31
Dec. 2007: 39.1%). The balance sheet showed EUR 106.5 million in equity (31 Dec. 2007: EUR 119.7 million).
Key figures of the first quarter of 2008: |In TEUR |31 Mar 2008|31 Mar 2007|+/- | |Sales |29,003 |41,595 |- 30% | |EBIT |3,590 |9,079 |- 60% | |Consolidated net income after |2,261 |7,683 |- 70% | |other shareholders | | | | |Earnings per share in EUR |0.22 |0.72 |- 70% | |Employees |323 |293 |+ 10% |
The Management Board confirmed that it expects a placement volume of EUR 1,100 million (2007: EUR 1,062 million) and net income of EUR 50.0 million (2007: EUR 38.6 million) in the current fiscal year.
Dr. Axel Schroeder, Board Chairman of MPC Capital AG: "The start into fiscal 2008 illustrated once more that the availability of products has a decisive influence on MPC Capital's quarterly result. The delayed start of placement of new product developments as well as the limited availability of products, especially of ship investments, resulted in a lower placement volume than last year. The contracted and developed product portfolio in the established business segments as well as the start of placement of the new investment concepts suggest that the placement volume will increase significantly in the course of the year. We are therefore able to confirm our forecast for fiscal 2008 today."
At EUR 123 million, equity placed in the first three months of 2008 was down 46% on the previous year's EUR 228 million and was especially influenced by the large supply of ship investments.
|Business segment in EUR |31 Mar 2008 |31 Mar 2007 |+/- | |million* | | | | |Real estate funds |31 |51 |- 40% | | thereof real estate |14 |27 |- 48% | |opportunity funds | | | | |Corporate investments |68 |117 |- 42% | | thereof ship investments |61 |109 |- 44% | |Life insurance funds |15 |17 |- 9% | |Structured products |9 |33 |- 72% | |Private equity funds |-- |6 |-- | |Investment funds |-- |4 |-- | |TOTAL |123 |228 |- 46% |
*Differences due to rounding.
Since 1994, some 164,000 customers (YE 2007: 161,000) have invested EUR 6.96 billion in 283 funds with a total investment volume of EUR 16.85 billion.
The interim report on the three-month period ended 31 March 2008 is available in the Investor Relations section at www.mpc-capital.com.
end of announcement euro adhoc --------------------------------------------------------------------------------
ots Originaltext: MPC Münchmeyer Petersen Capital AG Im Internet recherchierbar: http://www.presseportal.de
Further inquiry note:
Andreas Schwarzwälder
Investor Relations
Phone: +49 40 38022-4347
Fax: +49 40 38022-4878
E-mail: ir@mpc-capital.com
Branche: Financial & Business Services ISIN: DE0005187603 WKN: 518760 Index: SDAX, CDAX, Classic All Share, Prime All Share Börsen: Börse Frankfurt / regulated dealing/prime standard Börse Berlin / free trade Börse Stuttgart / free trade Börse Düsseldorf / free trade Börse Hannover / free trade Börse München / free trade Börse Hamburg / regulated dealing
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