MPC Münchmeyer Petersen Capital AG

Earnings Release • Apr 29, 2003

News Details

Corporate | 29 April 2003 11:30

MPC AG english

MPC Capital AG – Annual Press Conference Corporate-news announcement sent by DGAP. The sender is solely responsible for the contents of this announcement. ——————————————————————————– MPC Capital AG reports positive start to fiscal 2003 Sales and Group profit for the year increased in 2002 Proposed dividend for 2002 up to EUR 1.25 Hamburg, April 29, 2003 – Financial service provider MPC Capital AG closed fiscal 2002 with sales of EUR 85.2 million (2001: EUR 77.6 million) and Group profit for the year of EUR 14.1 million (2001: EUR 14.0 million). At EUR 17.4 million, earnings before interest and taxes (EBIT) were up slightly on the previous year’s EUR 17.1 million, while earnings per share held steady at EUR 1.33. The Managing Board and the Supervisory Board will propose payment of a dividend of EUR 1.25 – up from the previous year’s EUR 1.00 – to the Annual General Meeting on June 2, 2003. “The combination of our modern business model and our company’s long tradition and experience has again helped us to operate successfully in 2002 despite the difficult political situation, with regard to both existing product lines such as real estate funds and innovations such as the life insurance fund. In 2002, we syndicated equity totalling EUR 383 million, thus consolidating our position as the largest non-bank issuing house,” said Dr. Axel Schroeder, Board Chairman of MPC Capital AG at the annual press conference. “Our shareholders will directly participate in this success. Our equity ratio of 70% and earnings per share of EUR 1.33 form an excellent financial foundation, which allows us to propose an increased dividend of EUR 1.25. Based on the current share price, this represents a dividend yield of approx. 10%,” Dr. Schroeder added. The Managing Board expects Q1 2003 Group net profit to be up 5% to 10% on the previous year’s EUR 2.1 million, mainly driven by continued demand for asset- backed investment such as the closed-end real estate funds. Syndicated capital is expected to rise from EUR 383,7 million to EUR 420 million in FY 2003, while sales are expected to grow from EUR 85.2 million to EUR 90 million. Net profit for the year should climb from EUR 14.1 million to EUR 15 million, with earnings per share at EUR 1.43, up from EUR 1.33 in 2002. “It is gratifying to see that over 70% of the planned syndication volume for 2003 has already been contracted on the product side. Moreover, we have been able to secure a significant equity volume in the area of ship investments for 2004 and 2005. We have gained a reputation as a reliable partner over many years and have now been able to realise excellent projects with long-term contracts with charterers with excellent credit standing and with experienced shipowners,” said Dr. Schroeder. The Annual Report for 2002 is available for downloading at http://www.mpc-capital.de under Investor Relations. The results for the first quarter of 2003 will be published on May 16, 2003. Inquiries: Andreas Schwarzwälder Investor Relations Phone: +49 (0)40 / 38022-347, Fax: +49 (0)40 / 38022-878, e-mail: ir@mpc-capital.com end of message, (c)DGAP 29.04.2003 ——————————————————————————– WKN: 518 760; ISIN: DE0005187603; Index: SDAX Listed: Amtlicher Markt in Frankfurt (Prime Standard) und Hamburg; Freiverkehr in Berlin-Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 291130 Apr 03