MLP SE

Earnings Release • Jul 27, 1999

News Details

Ad-hoc | 27 July 1999 08:02

Ad hoc-Service: MLP AG MLP AG englisch

Ad-hoc Mitteilung übermittelt durch die DGAP. Für den Inhalt der Mitteilung ist allein der Emittent verantwortlich. —————————————————————————— Ad hoc announcement MLP: First-half results for 1999 exceed previous preliminary figures. Revenue and income growth of over 30 % MLP-Group and MLP AG With its now final first-half figures, the financial services pro-vider MLP AG, Heidelberg, exceeds the preliminary figures announced by the company just a few weeks ago. This was underlined by MLP Chief Executive Officer Dr Bernhard Termühlen. The total group revenue increased by 31 percent from DM 273.1 million to DM 357.9 million. The net income before tax at MLP AG grew by 33 percent to DM 51.9 million in comparison with DM 39 million in the previous year. “These results illustrate that we will achieve our objective of growing at an annual rate of some 30 percent in the 1999 business year as well”, explained MLP-CEO Termühlen. MLP re-ports growth figures in all divisions of between 20 and 80 per-cent. The dynamic growth announced by the young banking and the asset management divisions is particularly pleasing. MLP Finanzdienstleistungen AG MLP Finanzdienstleistungen AG, Europe’s largest broker for academics and sophisticated private clients, increased its sales revenues by 20 percent to DM 179 million in comparison with DM 149 million in 1998. New business in the occupational disability insurance, pension cover and life assurance segments rose from DM 2.6 billion to DM 3.3 billion total premiums, an increase of 25 percent. The additional dynamics amounted to DM 295 million (1998: DM 289 million). New business in the health insurance division grew by 24 percent (excluding private nursing insurance premiums) to DM 37.4 million in the first half of 1999 in comparison with DM 30.1 million in the same period for the previous year. The net average capital inflow into mutual funds grew by 40.2 percent from DM 445 million to DM 624 million. In the first six months of the year MLP handled a financing volume of DM 582 million and hence 98 percent more than in the preceding year (DM 294 million). One reason for this extraordi-nary increase is the now completed implementation of the electronic mortgage-financing platform MLP Hyp. The financing risks are scored here electronically, and the mortgages from different lenders made available and processed. New business in the property insurance, third-party liability and legal protection insurance fields recorded an increase of 21 percent with DM 17.9 million annual premiums in comparison with DM 14.8 million in the previous year. MLP Lebensversicherung AG MLP Lebensversicherungs AG, the most important company in the group following MLP Finanzdienstleistungen AG, focuses upon the production of unit-linked life assurance policies, occupational disability coverage and term insurance for the MLP target groups. The company is now one of the fastest growing companies in the industry and increased its premium income by 50 percent from DM 74 million to DM 111.5 million. The total new business applications increased by 51 percent to DM 1.904 million total premiums in comparison with DM 1,261 million in the previous year. The upholder of this growth is the MLP-fund policy in particular, with an increase in total business applications by 60 percent from DM 1.006 million to DM 1.610 million. MLP Vermögensverwaltung AG MLP Vermögensverwaltung AG increased its sales revenues by 58 percent from DM 6.38 million to DM 10.06 million. The net average capital income was, with DM 596 million, some 70 percent higher than the previous year’s figure. This represents an increase in managed volume to DM 1.6 billion, making MLP one of the leading independent asset management companies in Germany. The net income before tax is 89 percent higher than in 1998 with DM 2.21 million in comparison to DM 1.12 million. MLP Bank AG With 53,000 bank customers and a business volume in the meantime of DM 212.4 million, the MLP Bank AG has announced extraordinarily high growth in its second year of business operations and has almost reached the break-even point with a remaining deficit of just DM 0.5 million in comparison to DM 1.1 million in the previous year. “We are convinced”, explained MLP CEO Dr Termühlen”, that these growth rates will continue to dominate our figures when we announce our total results for the year 1999. We are growing with undiminished strength, more dynamic than ever before.” He is very composed about the planned new legislation for taxing the profits from life assurance policies. If the changes currently under discussion were to be implemented today, then just 5% of the current MLP policies in-force would actually be affected. The reason being because MLP focuses upon the long-term pension provi-sions and upon occupational disability coverage. And with the electronic broker plat forms developed over the course of the last two years, MLP is also able – like no other financial services provider – to react flexibly to changing market conditions. These cross-divisional financial service platforms also form the backbone of MLP’s future activities on the Internet. Contact:Investor Relations Jutta Funck Tel:+49 (6221) 308 330 Fax:+49 (6221) 308 356 E-mail:jutta.funck@mlp-ag.com Ende der Mitteilung