Wiesloch, January 04, 2021 – MLP SE expects to exceed its EBIT forecast for the financial year 2020 (upper end of the range of EUR 34 to 42 million). Alongside overall positive development of operations, the MLP Group recorded performance-linked compensation for the fourth quarter of 2020, which was also significantly higher than previously planned.
Performance-linked compensation is accrued for the positive performance of investment concepts in wealth management and is largely recognised in income. The revenue effect in the fourth quarter of 2020 amounted to around 15.6 million euros.
"We are anticipating even better performance than most recently forecast. This will help us deliver very good earnings, despite operating in the significantly more difficult framework conditions brought about by the coronavirus pandemic. It also underlines the strength that we have built up," comments Chief Executive Officer Dr. Uwe Schroeder-Wildberg. "We are now harvesting the fruits of our efforts over the last few years to diversify our revenue basis. This has enabled us to more than compensate for coronavirus-based declines in individual consulting fields with gains in others."
MLP published its EBIT forecast on April 27, 2020 and specified a range from EUR 34 to 42 million for the financial year 2020. The expectation of reaching the upper end of this range was then substantiated on July 23, 2020. In 2019, MLP recorded EBIT of EUR 47.1 million.
It is not possible to quantify the newly expected level of EBIT until more specific figures on business development are available for the fourth quarter of 2020. The online press and analyst conference will held as scheduled on February 25, 2021.