MLP Group raises EBIT forecast 2024 to EUR 85 to 95 million and expects to record significantly higher Q3 EBIT for 2024 than in the previous year

Wiesloch, October 2, 2024, 13:02 CEST – In the third quarter of 2024, MLP Group recorded significantly higher performance-based compensation than previously expected. With positive overall performance, MLP therefore anticipates to exceed its current EBIT forecast for 2024 (upper half of the range of EUR 75 to 85 million), as well as to record significantly higher EBIT for the third quarter of 2024 than in the same period of the previous year (Q3 2023: EUR 7.8 million). Against this background the Executive Board today has decided to raise EBIT forecast for the financial year 2024. Hence, now an EBIT in 2024 between EUR 85 to 95 million is expected.

Performance-based compensation is accrued for the positive performance of investment concepts in wealth management and is largely recognised in the results. The sales revenue effect of the performance-based compensation in the third quarter of 2024 is around EUR 17 million. In the same period of the previous year (Q3 2023), MLP recorded a sales revenue effect from performance-based compensation of EUR 0.1 million.

Based on the successful business development recorded in the first half of 2024, MLP has already specified its EBIT forecast for the financial year 2024 on July 29, 2024, stating that it would probably reach the upper half of the announced range of EUR 75 to 85 million.

MLP will report the full financial figures for the third quarter and the first nine months of 2024 on November 14 as scheduled.

EBIT and performance-based compensation represent alternative key performance indicators and are explained in greater detail at:

https://mlp-se.com/investors/mlp-share/key-figures/