Wiesloch, October 1, 2021 – In the third quarter of 2021, MLP SE recorded significantly higher performance-based compensation than previously projected. With positive overall performance in its consulting fields, the MLP Group therefore anticipates to significantly exceed its current EBIT forecast for 2021 (upper end of the corridor from EUR 55 to 61 million), as well as to record significantly higher EBIT for Q3 2021 than in the same period of the previous year (Q3 2020: EUR 8.1 million).
Performance-based compensation is accrued for the positive performance of investment concepts in wealth management and is largely recognised in income. The sales revenue effect of the performance-based compensation in the third quarter of 2021 is around EUR 17 million. In the same period of the previous year (Q3 2020), MLP recorded a sales revenue effect from performance-based compensation of EUR 8.0 million.
Based on the successful business development recorded in the first half of 2021, MLP has already specified its EBIT forecast for the financial year 2021 on August 12, 2021, stating that it would probably reach the upper end of the announced corridor of EUR 55 to 61 million.
"We will increase our EBIT for the fifth year in succession – despite operating in often highly challenging framework conditions. This demonstrates the strength we have built up in the last few years and the growth potential we have at our disposal. The year 2022 remains our focus in terms of earnings performance for which we are still planning EBIT of between EUR 75 and 85 million," comments Dr. Uwe Schroeder-Wildberg, Chief Executive Officer at MLP.
MLP will report the full financial figures for the third quarter of 2021 on November 11 as scheduled.