26.10.2015
MLP AG DE0006569908
DGAP-Adhoc: MLP AG: Volatile capital markets and special tax effect burden earnings in the third quarter
MLP AG / Key word(s): Profit Warning/9-month figures
26.10.2015 18:01
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Ad hoc press release:
Volatile capital markets and special tax effect burden earnings in the
third quarter
The business development of MLP AG in the third quarter was largely
characterised by the severe volatility on the capital markets. Revenues
from performance fees in the wealth management segment was therefore
significantly below the budgeted level. In comparison with the third
quarter of the previous year, this effect alone led to a reduction in
earnings before interest and taxes (EBIT) of EUR -2.4 million. In addition,
the field of old-age provision continues to be characterised by discernible
reservations due to the ongoing discussions regarding life insurers and
their products. Overall, MLP anticipates a pro forma EBIT (adjusted for the
acquisition of DOMCURA) in the third quarter of EUR 0.2 million (Q3 2014:
EUR 4.9 million).
Furthermore, MLP will also record one-off expenses of EUR -2.0 million
under finance costs and a retrospective tax payment of EUR -1.1 million in
the third quarter. This is due to an additional tax expense that originates
primarily from MLP's international business activities, which were already
terminated by 2007. As a result of this one-off effect, a Group net profit
of EUR -2.9 million is anticipated (Q3 2014: EUR 3.4 million).
After the first nine months the pro forma EBIT (prior to acquisitions) is
EUR 8.3 million (9M 2014: EUR 9.4 million). MLP is anticipating a
significant acceleration in terms of business development at the end of the
year. In light of the effects mentioned, a strong fourth quarter in the
previous year and the fact that the markets for old-age provision remain
very difficult, the slight increase in EBIT over the previous year that had
previously been targeted will probably not be achieved.
All reported figures are provisional.
26.10.2015 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: MLP AG
Alte Heerstraße 40
69168 Wiesloch
Germany
Phone: +49 (0)6222-308-8320
Fax: +49 (0)6222-308-1131
E-mail: [email protected]
Internet: www.mlp-ag.de
ISIN: DE0006569908
WKN: 656990
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard), Stuttgart;
Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg,
Hanover, Munich; Terminbörse EUREX
End of Announcement DGAP News-Service
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