MPC Münchmeyer Petersen Capital AG

Earnings Release • Aug 16, 2002

News Details

Corporate | 16 August 2002 08:00

MPC AG english

MPC Capital improves H1 net result by 20% Corporate-news announcement sent by DGAP. The sender is solely responsible for the contents of this announcement. ——————————————————————————– MPC Capital improves H1 net result by 20% Group net profit grows to Euro 6.7 million Sales up 43% to Euro 34.9 million Hamburg, August 16, 2002 – MPC Münchmeyer Petersen Capital AG, the SDAX-listed provider of financial services, recorded sales of Euro 34.9 million in the first half of 2002, up 43% on the previous year’s Euro 24.4 million. Earnings before interest and taxes (EBIT) increased by 28% from Euro 5.7 million in the same period of the previous year to Euro 7.2 million. H1 Group net profit grew by 20% from Euro 5.6 million to Euro 6.7 million. As a result, earnings per share improved from Euro 0.53 to Euro 0.63. As at June 30, 2002, the Hamburg-based company employed 137 people (2001: 97 people). Demand for alternative, asset-backed investment concepts continued to increase in the first half of 2002. Growth in the period under review was driven by MPC Capital AG’s foreign real estate funds, with Dutch, US and Canadian real estate funds accounting for some 68% of total sales. In addition to five additional closed-end real estate funds, the company launched three new investment products in the first six months of the year, including the MPC Best Select investment concept which allows MPC Capital AG’s clients to invest in a portfolio offering optimum diversification. “MPC Capital AG looks back on the most successful first half year since its foundation. We continued to strengthen our market position as a provider of high-yield, alternative investment concepts,” said CEO Dr. Axel Schroeder. “In view of the current trends of the world economy, the development of products which meet our high quality standards is becoming increasingly challenging. We nevertheless expect to be able to introduce further innovative products in the second half of the year,” explained Dr. Schroeder. The company’s Managing Board has confirmed the forecast for 2002 and expects sales to increase by 37% from Euro 77.5 million to Euro 106 million, while earnings after taxes are expected to grow by 18% to Euro 16.5 million. The quarterly report is available for download in the investor relations section at http://www.mpc-capital.com. Inquiries: Andreas Schwarzwälder Investor Relations MPC Münchmeyer Petersen Capital AG, Palmaille 67, D-22767 Hamburg, T: +49 (0)40 / 38022-347, F: +49 (0)40 / 38022-878, e-mail: a.schwarzwaelder@mpc-capital.com end of message, (c)DGAP 16.08.2002 ——————————————————————————– WKN: 518 760; ISIN: DE0005187603; Index: SDAX Listed: Amtlicher Markt in Frankfurt und Hamburg; Freiverkehr in Berlin, Düsseldorf, Hannover, München und Stuttgart 160800 Aug 02