Wiesloch, January 29, 2021 – Based on preliminary figures for the financial year 2020, MLP SE achieved earnings before interest and taxes (EBIT) of around EUR 59 million. The financial services provider thus significantly exceeded the expectations (exceeding the upper end of the range of EUR 34 to 42 million) that had been adjusted upwards on January 4, 2021. EBIT is significantly above the previous year's figure of EUR 47.1 million despite the Corona crisis.
The background to this development is a very strong fourth quarter of 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.
"We are very satisfied with the financial year 2020. Our team performed fantastically in all parts of the Group. We are very grateful for our customers trust in this special year," comments Chief Executive Officer Dr. Uwe Schroeder-Wildberg. "Due to the Corona crisis, the various parts of our business developed differently than expected at the beginning of the year. However, we were able to more than compensate for weaker developments in one field with gains in the other consulting fields. This demonstrates the resilience we have built up in recent years by significantly broadening our range of services and thereby our revenue base."
MLP had already reported in an ad hoc announcement on January 4, 2021 that it would surpass its own EBIT forecast for the financial year 2020 (upper end of the corridor from EUR 34 to 42 million). However, it was not yet possible to specify the level of the anticipated EBIT at that time.
MLP will publish the full set of results for business development of the fourth quarter of and the financial year 2020 as planned on February 25, 2021.