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Total Revenue: 763 million, a record high with an 11% growth.
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EBIT: 66.4 million for the first nine months, with a strong third quarter contributing 17.8 million.
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Net Profit: 48.1 million, significantly higher than the previous year.
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Assets Under Management: 61 billion as of September 30, 2024.
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Shareholders' Equity: Increased to 547 million from 532 million in 2023.
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Regulatory Core Capital Ratio: 19.5% as of September 30, 2024.
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Liquidity Coverage Ratio: 1712%, well above the regulatory requirement of 100%.
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Wealth Competence Field Revenue: 30% growth to 381 million.
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Real Estate Brokerage Revenue: 140% increase, recovering from a low base.
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Property and Casualty Revenue: 165 million.
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Life and Health Revenue: 192 million.
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Number of Family Clients: 585,600 as of September 30, 2024.
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Number of Consultants: 2,082 as of September 30, 2024.
Release Date: November 14, 2024
For the complete trani style="display:none;" of the earnings call, please refer to the full earnings call trani style="display:none;".
Positive Points
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MLP SE (WBO:MLP) achieved record high total revenue and EBIT for the first nine months of 2024.
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The company reaffirmed its EBIT forecast for 2024 and plans to increase EBIT to between EUR 101 and 110 million by the end of 2025.
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Strong performance in the wealth competence field, particularly in wealth management and interest rate business, contributed significantly to revenue growth.
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MLP SE's digital strategy has successfully enhanced client services and operational efficiency.
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The company has a stable revenue structure with a high share of recurring revenue, providing a strong foundation for future growth.
Negative Points
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MLP SE operates in a challenging macroeconomic environment in Germany, which could impact future performance.
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Revenue from the real estate development business declined significantly due to market turbulences.
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The company faces risks related to the ongoing recovery of the real estate markets.
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Loan loss provisioning increased in Q3 due to provisions on individual loans, indicating potential credit risk.
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There is uncertainty regarding the impact of government policies and potential non-passed budget measures on the company's operations.
Q & A Highlights
Q: Do you see any potential impact from a potentially non-passed renting package or other budget issues for 2025? A: Reinhard Loose, CFO, stated that there were no impacts included in their planning from the renting package due to existing uncertainties. He emphasized that changes in government policy are not expected to negatively impact MLP SE. Instead, they hope for reduced bureaucracy and more supportive initiatives for the industry.