MPC Capital AG improves product availability and placement in Q2
. At-equity consolidation of HCI Capital AG for the first time burdens result . Sales and earnings below previous year at half-year stage . Projections for 2008 confirmed
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companies/Interim Report 2008
Hamburg (euro adhoc) - Hamburg, August 26, 2008 - As had been announced, MPC Münchmeyer Petersen Capital AG, the SDAX-listed wealth and asset manager, improved the availability of its products and the placement volume in the second quarter as compared to the first three months of the year. Between April and June, the company raised EUR 172 million in equity (Q1: EUR 123 million). At EUR 295 million, equity raised in the first six months of the year was 35% below the previous year's EUR 453 million in spite of the improvement in the second quarter. This is primarily attributable to the fact that a large number of high-volume products were made available to the sales partners only in June 2008. At EUR 76,0 million, first-half sales were down 19% on the previous year's EUR 93.5 million. In accordance with the increased investment in HCI Capital AG of 40.8%, the latter's result was consolidated at-equity for the first time. Given that the earnings for the first six month of 2008 of HCI Capital AG were negativ, MPC Capital accounts were burdened. Accordingly, the Earnings before interest and taxes (EBIT) declined by 75% from EUR 20.2 million to EUR 5.1 million. Consolidated net income after other shareholders was down 94% on the previous year's 20.3 million to EUR 1.2 million. This is equivalent to diluted earnings per share of EUR 0.11 (EUR 1.92 in the previous year). In the first half of 2008, the MPC Capital Group employed 327 people on average (2007: 298).
The Management Board has confirmed the on August 11, 2008 adjusted projections for the current fiscal year. The broad product range and the continued strong demand for attractive capital investments suggest that it will be possible to achieve a placement volume of EUR 1.1 billion. The projections for consolidated net income remains at EUR 38 million to EUR 40 million.
"Following a difficult first half-year, MPC Capital has set itself very ambitious objectives for the second half of 2008. As expected, we were able to start distribution of a number of important products towards the end of the second quarter. We are therefore confident that the product portfolio that is
available for the second half of the year will generate the projected equity result and profits as well as stable margins," said Dr. Axel Schroeder, CEO of MPC Capital AG. Key figures of the first six months |In TEUR |01.01.-30.06.08|01.01.-30.06.07|+/- | | | | | | |Sales |75,963 |93,481 |- 19% | |EBIT |5,136 |20,201 |- 75% | |Consolidated net income after other|1,240 |20,300 |- 94% | |shareholders | | | | |Earnings per share in EUR (diluted)|0,11 |1,92 |- 94% | |Employees (average) |327 |298 |+ 10% | Equity placed in the first six months* |Business segment in EUR millions |1.1.-30.06.08 |1.1.-30.06.07|+/- | |Real estate funds |68 |125 |- 46% | | thereof real estate opportunity |34 |92 |- 63% | |funds | | | | |Ship investments |150 |197 |- 24% | |Life insurance funds |38 |49 |- 22% | |Energy and commodity funds |23 |- |- | |Structured products |18 |39 |- 54% | |Private equity funds |- |12 |- | |Real estate funds |- |25 |- | |TOTAL |295 |453 |- 35% | *Differences due to rounding. Since 1994, some 168,000 customers (YE 2007: 161,000) have invested EUR 7.13 billion in 288 capital investment products with a total investment volume of
EUR 17.48 billion
The interim report on the six-month period ended June 30, 2008 is available in the Investor Relations section at www.mpc-capital.com.
end of announcement euro adhoc --------------------------------------------------------------------------------
Further inquiry note:
Andreas Schwarzwälder
Tel: ++49 (0) 40380224347
ir@mpc-capital.com
Branche: Financial & Business Services
ISIN: DE0005187603
WKN: 518760
Index: SDAX, CDAX, Classic All Share, Prime All Share
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