Q2 2024: Preliminary EBIT of the MLP Group significantly above previous year's level

Wiesloch, July 29, 2024, 14:19 CEST – On the basis of preliminary business figures for the second quarter of 2024, the MLP Group recorded preliminary earnings before interest and taxes (EBIT) of around EUR 12 million (Q2 2024). This is significantly higher than the comparative figure from the same period in the previous year (Q2 2023: EUR 5.0 million).

With positive overall operational development, this rise can in particular be attributed to the increase in the Wealth competence field. Alongside a strong interest rate business, this is also attributable to a significant increase in assets under management and a rise in performance-based compensation. Performance-based compensation is accrued for the positive performance of investment concepts in wealth management and is largely recognised in the results. In the previous year, the EBIT recorded in the second quarter was also being negatively impacted by an effect of EUR -2.8 million resulting from mergers of individual companies in the Industrial Broker segment.

The preliminary EBIT for the first half year of 2024 is thus around EUR 49 million (H1 2023: EUR 37.4 million). Following successful development in the first half year of 2024, MLP now expects to reach the upper half of the full year forecast EBIT range of EUR 75 to 85 million.

MLP will report the final figures on business performance for the second quarter and the first half year of 2024 on August 14.

EBIT, assets under management 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/