Wiesloch, 29th January 2021, 16:03 CET - On the basis of preliminary figures for the financial year 2020, MLP SE achieved earnings before interest and tax (EBIT) of around EUR 59 million (FY 2019: EUR 47.1 million) and thus significantly exceeded its own expectations (exceeding the upper end of the range of EUR 34 to 42 million), which had been adjusted upwards in an ad hoc announcement on January 4, 2021.
Background for this development is a very strong fourth quarter in 2020 with EBIT of around EUR 32 million (Q4 2019: EUR 28.2 million). Alongside overall positive development of operation, this was due in particular to the high level of performance fees collected in wealth management. In addition to this, there was a very positive development in wealth management overall. Furthermore, the corona-related burdens on old-age provision and real estate brokerage were less severe than expected.
MLP will publish the full set of results for business development of the fourth quarter of 2020 and the financial year 2020 as planned on February 25, 2021.
Performance fees and EBIT represent alternative KPIs, which are described in further detail at: