Quarterly Report • May 12, 2016
Quarterly Report
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| All figures in € million | 1st quarter 2016 |
1st quarter 20152 |
Change in % |
|---|---|---|---|
| MLP Group | |||
| Total revenue | 152.4 | 130.0 | 17.2% |
| Revenue | 148.8 | 125.9 | 18.2% |
| Other revenue | 3.6 | 4.1 | –12.2% |
| Earnings before interest an tax (EBIT) (before one-off exceptional costs – operating EBIT) |
8.8 | 7.0 | 25.7% |
| Earnings before interest and tax (EBIT) | 8.7 | 7.0 | 24.3% |
| EBIT margin (%) | 5.7% | 5.4% | – |
| Net profit | 6.2 | 5.2 | 19.2% |
| Earnings per share (diluted/undiluted) in € | 0.06 | 0.05 | 20.0% |
| Cashflow from operating activities | 70.0 | 35.4 | 97.7% |
| Capital expenditure | 1.9 | 2.9 | –34.5% |
| Shareholders' equity | 387.9 | 385.81 | 0.5% |
| Equity ratio (%) | 21.6% | 22.0%1 | – |
| Balance sheet total | 1,799.2 | 1,752.71 | 2.7% |
| Private clients (Family) | 511,000 | 510,2001 | 0.2% |
| Corporate and institutional clients | 18,300 | 18,2001 | 0.1% |
| Consultants | 1,931 | 1,942 1 | –0.6% |
| Branch offices | 154 | 156 1 | –1.3% |
| Employees | 1,795 | 1,545 | –0.4% |
| Arranged new business | |||
| Old-age provisions (premium sum) | 582.0 | 570.0 | 2.1% |
| Loans mortgages | 455.3 | 427.3 | 6.6% |
| Assets under management in € billion | 29.3 | 29.0 1 | 1.0% |
As of December 31, 2015.
2 As of 2016, loan loss provisions are disclosed as a seperate item. For this reason, the previous year's disclosure was adjusted.
This quarterly Group statement presents significant events and business transactions of the first quarter 2016 and updates forecast-oriented information contained in the last joint management report. The Annual Report is available on our website at www.mlp-ag.com and www.mlp-annualreport.com/.
In the description of the MLP Group's financial position, net assets and results of operations pursuant to International Financial Reporting Standards (IFRS), the previous year's figures are given in brackets.
The information contained in this quarterly Group statement has neither been audited by an auditor nor subjected to an audit review.
The MLP Group (MLP) is the partner for all financial matters – for private clients as well as for companies and institutional investors. With our four brands, each of which enjoys a leading position in their respective markets, we offer a broad range of services:
The views and expectations of our clients always represent the starting point in each of these fields. Building on this, we then present our clients with suitable options in a comprehensible way so that they can make the right financial decisions themselves. For the implementation, we examine the offers of all relevant product providers in the market. Our product ratings are based on scientifically substantiated market and product analyses.
Manfred Lautenschläger and Eicke Marschollek founded MLP in 1971. Just under 2,000 client consultants and around 1,800 employees work at MLP.
The values disclosed in the following quarterly statement have been rounded to one decimal place. As a result, differences to reported total amounts may arise when adding up the individual values.
There were no changes in the period under review compared to the corporate profile of the MLP Group described in the Annual Report for the financial year 2015. The overall economic climate, industry situation and competitive environment have also not encountered any significant change since the Annual Report 2015.
Comparisons between the figures from the same quarter in the previous year and the current results from Q1 2016 are only comparable to a limited extent, particularly in terms of revenues in the field of non-life insurance, as the DOMCURA Group was not yet part of the MLP Group in the same period of the previous year.
The MLP AG share exited the SDAX with effect from March 21, 2016. Due to IPOs and changes to the stock exchange segments of certain major companies last year, these occupied places ahead of MLP in the ranking list. The decline in share price of the MLP share also contributed to this development. Our objective is to once again increase market capitalisation and stock market liquidity by improving our operative development in order to return to the index.
The MLP Group made a positive start to the new year. In the first three months, total revenue increased by 17.2% over the same period in the previous year. Gains were in particular recorded in the field of non-life insurance as a result of DOMCURA, the subsidiary acquired in June 2015 which was not yet part of the MLP Group in the first quarter of the previous year. The difficult market conditions, particularly in the fields of old-age provision and health insurance, also continued into 2016. Nevertheless, multiple indicators for future revenue performance developed positively in the first quarter. For example, the number of new family clients increased by 13.5% compared to the same period of the previous year. New business in the field of oldage provision also reported a slight increase.
With the acquisition of the DOMCURA Group at the end of July 2015, the Q1 results now hold more significance than in the last few years. This is because the new subsidiary typically generates most of its earnings in the first three months of each year. It then records a loss from Q2 to Q4, as the non-life insurance premiums are largely collected at the start of the year. However, the fourth quarter still remains the most important overall for the MLP Group, as a significant portion of total revenue and earnings in the financial services segment are accrued during this period.
As announced within the scope of the annual press conference, the MLP Group is adapting the way it counts clients to the revised Group structure. As of this quarter, we will firstly report family clients that we support at MLP Finanzdienstleistungen AG and in the FERI Group. Secondly, we will also report corporate and institutional clients. These include clients in the field of occupational pension provision, as well as institutional clients at FERI and sales partners at DOMCURA. On the basis of this definition, the Group served 511,000 family clients as at March 31 (December 31, 2015: 510,200), as well as 18,300 corporate and institutional clients (18,200).
In the time period from January to March 2016, the total revenue of the MLP Group increased by 17.2% to € 152.4 million (€ 130.0 million). At 143.6 million, commission income made the greatest contribution to this (€ 120.3 million). At € 5.2 million, revenue from the interest rate business was slightly below the previous year's figure (€ 5.6 million). Other revenue was € 3.6 million (€ 4.1 million).
The breakdown by consulting field reveals significant growth in the field of non-life insurance, in which revenues increased from € 20.1 million to € 50.7 million. Around € 30.5 million thereof can be attributed to the new subsidiary DOMCURA. The field of loans and mortgages also recorded gains with revenue of € 3.6 million (€ 3.2 million). At € 11.8 million (€ 11.8 million), revenue in the field of health insurance remained at the same level as the previous year. At € 2.4 million, other commission and fees also remained at around the previous year's level (€ 2.5 million). Other commission and fees primarily reflect the brokerage of real estate objects.
At € 582 million, brokered new business in the field of old-age provision was 2.1% above the previous year in Q1 (€ 570 million). Yet despite this, revenue in this field of consulting declined from € 42.0 million to € 36.2 million. This can largely be attributed to a one-time positive effect in the same period of the previous year. As communicated in the report on Q1 2015, this is due to rectification of an incorrect account settlement by a product partner. In the field of wealth management, the funds under management increased to € 29.3 billion as at March 31, 2016 (December 31, 2015: € 29.0 billion). At € 38.9 million (€ 40.7 million), revenues displayed a slight downward trend. This was due to the very strong capital market development recorded in the previous year.
The strengthening of the non-life insurance segment through the acquisition of DOMCURA last year has also further diversifi ed the distribution of sales. Due to the seasonality of the DOMCURA business, its 35 % share is extremely high and will then decline again over the course of the year in relation to the other fi elds of consulting.
Commission expenses primarily comprise performance-linked commission payments to our consultants, which also includes the commissions paid in the DOMCURA segment. These variable expenses occur due to the remuneration of brokerage services in the non-life insurance business. Added to these are the commissions paid in the FERI segment, which in particular result from the activities in the fi eld of fund administration. Variable expenses are, for example, accrued in this business segment due to remuneration of the depository bank and fund sales.
Largely infl uenced by higher commission income, commission expenses increased to € 75.1 million in the fi rst three months (€ 58.4 million). As is the case with commission income, the increase can essentially be attributed to the new subsidiary DOMCURA. At € 0.5 million, interest expenses remained at the same level as the previous year (€ 0.4 million). The total cost of sales increased to € 75.6 million (€ 58.8 million).
Administrative expenses (defi ned as the sum of personnel expenses, depreciation/amortisation and impairment, as well as other operating expenses) increased to € 67.2 million (€ 63.8 million). The administrative expenses at DOMCURA amounted to € 5.3 million. Personnel expenses were € 30.0 million (€ 27.3 million). Depreciation/amortisation and impairments declined to € 3.1 million (€ 4.9 million). The previous year's higher fi gure was due to an impairment on software. Other operating expenses increased to € 34.1 million (€ 31.5 million), which can essentially also be attributed to the consolidation of the new subsidiaries.
EBIT in the first quarter of the financial year increased to EUR 8.7 million (EUR 7.0 million). This rise is attributable to higher commission income. Operating EBIT reached € 8.8 million, since the one-off expenses announced within the scope of the efficiency measures will mostly be accrued from Q2 onwards. Adjusted for the EBIT contribution of DOMCURA of € 6.4 million, this results in pro forma EBIT of € 2.7 million. When comparing with the previous year, it is important to note that the EBIT recorded in the first quarter of 2015 received stimulus from the described effect in the field of old-age provision.
At € –0.1 million, the finance cost remained at the previous year's level. The tax rate was 28.0 %. Net profit for the period increased from € 6.2 million following € 5.2 million in the previous year. The diluted and basic earnings per share were € 0.06 (€ 0.05).
| All figures in € million | Q1 2016 | Q1 2015 | Change in % |
|---|---|---|---|
| Total revenue | 152.4 | 130.0 | 17.2% |
| Gross profit1 | 76.8 | 71.2 | 7.9% |
| Gross profit margin (%) | 50.4% | 54.8% | |
| Operating EBIT | 8.8 | 7.0 | 25.7% |
| Operating EBIT margin (%) | 5.8 % | 5.4% | |
| EBIT | 8.7 | 7.0 | 24.3% |
| EBIT margin (%) | 5.7 % | 5.4 % | |
| Finance cost | –0.1 | –0.2 | –50.0 % |
| EBT | 8.6 | 6.9 | 24.6% |
| EBT margin (%) | 5.6 % | 5.3% | |
| Income taxes | –2.4 | –1.6 | 50.0 % |
| Net profit | 6.2 | 5.2 | 19.2 % |
| Net margin (%) | 4.1% | 4.0% |
1 Definition: Gross profit is the result of total revenue less commission expenses and interest expenses.
You can find detailed information on the aims of financial management in the MLP Group's Annual Report under "Financial position"/"Aims of financial management" at www.mlp-annualreport.com
The MLP business model is comparatively low in capital intensity and generates high cash flows. However, increased capital requirements have been budgeted for in order to meet the revised definition of equity and stricter requirements of Basel III.
At present, we are not using any borrowed funds in the form of securities or promissory note bond issues to finance the Group long-term. Our non-current assets are financed in part by noncurrent liabilities. Current liabilities due to clients and banks in the banking business represent further refinancing funds that are generally available to us in the long term.
As at March 31, 2016, total liabilities due to clients and financial institutions from the banking business of € 1,138.7 million (December 31, 2015: € 1,125.7 million) were offset on the assets side of the balance sheet by receivables due from clients and financial institutions in the banking business of € 1,134.1 million (December 31, 2015: € 1,143.0 million).
We did not perform any capital increases in the reporting period.
Cash flow from operating activities increased to € 70.0 million, compared to € 35.4 million in the same period of the previous year. Here, significant cash flows result from the deposit business with our clients and from the investment of these funds.
Cash flow from investing activities changed from € –12.0 million to € –31.2 million. In the reporting period, more term deposits were made than in the same period of the previous year.
At the end of the third quarter 2016, the MLP Group had cash and cash equivalents of around € 196 million. The liquidity situation therefore remains good. There are sufficient liquidity reserves available to the MLP Group. In addition to the liquid funds, free lines of credit are also in place.
The investment volume of the MLP Group reached € 1.9 million at the end of March, following € 2.9 million in the previous year. The vast majority of capital expenditure was channelled to the financial services segment, focusing in particular on investments in software and IT. We financed all capital expenditure from cash flow.
On the reporting date, March 31, 2016, the balance sheet total of the MLP Group was € 1,799.2 million (December 31, 2015: € 1,752.7 million). On the assets side of the balance sheet, changes essentially affected the following items: Financial investments increased to € 158.8 million (December 31, 2015: € 147.9 million), largely due to a greater investment volume in fixed income securities. Deferred tax assets increased to € 8.9 million (€ 7.0 million). This rise was due to a scheduled adjustment to pension provisions. Other accounts receivable and other assets fell to € 94.1 million (December 31, 2015: € 112.5 million). This item primarily comprises receivables due from insurers for which we have brokered insurance policies. Due to the typically strong year-end business, these increase considerably at the end of the year and then decline again during the course of the following financial year. Receivables from clients in the banking business increased slightly to € 556.4 million (December 31, 2015: € 542.7 million). Due to lower investments in daily deposits due on demand, receivables due from banks in the banking business fell slightly to € 577.7 million (December 31, 2015: € 600.3 million).
At € 387.9 million, the shareholders' equity of the MLP Group remained virtually unchanged as at the reporting date, March 31, 2016 (December 31, 2015: € 385.8 million). The balance sheet equity ratio as at the reporting date was 21.6% (December 31, 2015: 22.0%).
Provisions increased slightly to € 90.9 million (December 31, 2015: € 86.5 million) within the scope of the standard allocation to the provision for client support commissions and due to higher pension provisions. Liabilities due to clients in the banking business remained stable at € 1,111.0 million (December 31, 2015: € 1,102.6 million). Liabilities due to banks in the banking business increased to € 27.7 million (December 31, 2015: € 23.1 million). This was essentially due to increased refinancing investments. Other liabilities increased to € 163.0 million (December 31, 2015: € 140.2 million) in particular due to higher liabilities from DOMCURA's underwriting business. This was offset by lower commission claims by our consultants. Due to our typically strong year-end business, these claims increase markedly on the balance sheet date, December 31, and then decline again in the subsequent quarters.
The financial services segment reflects revenue from all fields of consulting – i.e. old-age provision, health and non-life insurance, wealth management and loans & mortgages. The FERI segment primarily generates revenue from the wealth management field of consulting, while the DOMCURA segment generates most of its revenue from the non-life insurance business. You can find a detailed description of the individual segments in the sections of the 2015 MLP Group Annual Report entitled "Economic report"/"Segment report" at www.mlp-annual-report.com.
Set against the background of the described special effect in the previous year, total revenue in the financial services segment decreased to € 93.8 million in the first quarter of 2016 (€ 99.6 million). Sales revenues declined to € 91.0 million (€ 96.3 million). After reaching € 3.2 million in the previous year, other revenue fell to € 2.7 million.
Commission expenses declined to € 40.3 million (€ 41.5 million). Interest expenses were € 0.5 million (€ 0.4 million). At € 19.1 million, personnel expenses remained stable (€ 19.3 million). Depreciation and amortisation declined to € 1.9 million (€ 3.9 million). The previous year's higher figure was primarily due to a one-off write-down. At € 30.0 million, other operating expenses were slightly above the previous year (€ 29.1 million).
Earnings before interest and taxes (EBIT) were € 1.7 million, following € 4.8 million in the previous year. The higher earnings recorded in the previous year can be attributed to the described one-time effect. With an unchanged finance cost of € –0.1 million (€ –0.1 million), earnings before tax (EBT) reached € 1.7 million (€ 4.8 million).
The FERI segment represents the activities of the FERI Group. Revenue is primarily generated in this segment from the wealth management field of consulting.
Set against the background of the strong development observed on the capital markets in the previous year, total revenue in the FERI segment declined to € 29.4 million (€ 31.4 million). In this context, commission expenses reduced to € 16.9 million (€ 17.6 million). At € 6.6 million, personnel expenses were also slightly below the previous year's figure (€ 7.0 million). Lower revenues meant that EBIT declined to € 2.0 million, following € 3.6 million in the previous year.
The DOMCURA segment primarily generates revenue from the brokering of non-life insurance.
DOMCURA's business model is characterised by a high degree of seasonality. Accordingly, the subsidiary records high sales revenue and comparably high earnings in the first quarter of each year. This is then followed by a loss in Q2 to Q4. Since DOMCURA was only included in Group consolidation at the end of the Q3, no comparative figures from 2015 are available for Q1.
However, sales revenues in the first three months of the year were € 30.5 million. This primarily reflects the premium volume received. Other revenue amounted to € 0.2 million. Total revenue therefore reached € 30.7 million. Commission expenses were € 19.0 million. These are essentially accrued as variable remuneration for brokerage services.
Administrative expenses of DOMCURA were € 5.3 million. Of these expenses, € 3.3 million were attributable to personnel expenses. Other operating expenses amounted to € 1.7 million. EBIT reached € 6.4 million. With a finance cost of € 0.0 million, EBT was also € 6.4 million.
The Holding segment does not have active operations. Total revenue in the Holding segment declined slightly to € 2.5 million in the first three months of the year (€ 2.7 million) and essentially results from the letting of buildings to affiliated companies. Personnel expenses fell slightly to € 0.9 million (€ 1.0 million). At € 2.5 million, other operating expenses were also slightly below the previous year's level (€ 2.7 million). EBIT reached € –1.4 million, following € –1.5 million in the previous year. At € –1.5 million, EBT remained at the previous year's level (€ –1.5 million).
As MLP is a knowledge-based service provider, qualified and motivated employees and consultants represent the most important foundation for sustainable company success. The focus is therefore on continuous further development of personnel work, qualifications and further training, as well as recruiting new consultants.
In the reporting period the number of employees increased by around 16.2% to 1,795 (1,545), in particular due to the acquisition of the DOMCURA Group. Adjusted for the acquisition of DOMCURA, the figure remained virtually constant at 1,539.
| Segment | March 31, 2016 | March 31, 2015 |
|---|---|---|
| Financial services | 1,295 | 1,304 |
| FERI | 237 | 234 |
| Holding | 7 | 7 |
| Total (excluding DOMCURA) | 1,539 | 1,545 |
| DOMCURA | 256 | – |
| Total (incl. DOMCURA) | 1,795 | – |
Despite the typical seasonal drop in the first three months, the number of client consultants remained virtually constant at 1,931 (December 31, 2015: 1,942). At 8.5%, the consultant turnover rate remained below our maximum threshold of 12% (+/–2%). Having observed a significant increase in applications in the field of financial consulting in Q1 2015, the figure remained stable at the increased level in the first quarter of this year.
As at March 31, 2016 MLP operated 154 branch offices (December 31, 2015: 156).
Examining the development of total revenue and costs together, we are in line with our expectations in the first three months of the financial year. Following on from the first quarter, we are adhering to the statements made in the forecast of the Annual Report 2015. You can find details on our forecast in the Annual Report of the MLP Group at www.mlp-annual-report.com.
| 1st quarter | 1st quarter | |
|---|---|---|
| All figures in €'000 | 2016 | 2015* |
| Revenue | 148,815 | 125,868 |
| Other Revenue | 3,569 | 4,098 |
| Total revenue | 152,384 | 129,966 |
| Commission expenses | –75,118 | –58,371 |
| Interest expenses | –482 | –404 |
| Loan loss provisions | –1,243 | –751 |
| Personnel expenses | –29,968 | –27,340 |
| Depreciation and impairments | –3,143 | –4,891 |
| Other operating expenses | –34,069 | –31,537 |
| Earnings from investments accounted for using the equity method | 340 | 362 |
| Earnings before interest and tax (EBIT) | 8,700 | 7,034 |
| Other interest and similar income | 126 | 121 |
| Other interest and similar expenses | –270 | –297 |
| Finance cost | –144 | –177 |
| Earnings before tax (EBT) | 8,556 | 6,857 |
| Income taxes | –2,397 | –1,628 |
| Net profit | 6,159 | 5,229 |
| Of which attributible to | ||
| owners of the parent company | 6,159 | 5,229 |
| Earnings per share in €** | ||
| basic/diluted | 0.06 | 0.05 |
* As of 2016, loan loss provisions are disclosed as a separate item. For this reason, the previous year´s disclosure was adjusted.
**Basis of calculation: average number of ordinary shares outstanding at March 31, 2016: 108,849,037.
| 1st quarter | 1st quarter | |
|---|---|---|
| All figures in €'000 | 2016 | 2015 |
| Net profit | 6,159 | 5,229 |
| Gains/losses due to the revaluation of defined benefit obligations | –5,165 | –5,490 |
| Deferred taxes on non-reclassifiable gains/losses | 1,513 | 1,603 |
| Non reclassifiable gains/losses | –3,652 | –3,888 |
| Gains/losses from changes in the fair value of | ||
| available-for-sale securities | –485 | 635 |
| Deferred taxes on non-reclassifiable gains/losses | 120 | –184 |
| Reclassifiable gains/losses | –365 | 452 |
| Othe comprehensive income | –4,018 | –3,436 |
| Total comprehensive income | 2,141 | 1,794 |
| Of which attributible to | ||
| owners of the parent company | 2,141 | 1,794 |
| All figures in €'000 | March 31, 2016 | March 31, 2015 |
|---|---|---|
| Intangible assets | 173,896 | 174,504 |
| Property, plant and equipment | 65,059 | 65,745 |
| Investments accounted for using the equity method | 3,821 | 3,481 |
| Deferred tax assets | 8,936 | 7,033 |
| Receivables from clients in the banking business | 556,390 | 542,696 |
| Receivables from banks in the banking business | 577,688 | 600,339 |
| Financial assets | 158,806 | 147,916 |
| Tax refund claims | 21,022 | 14,893 |
| Other receivables and assets | 94,131 | 112,531 |
| Cash and cash equivalents | 133,396 | 77,540 |
| Non-current assets held for sale | 6,040 | 6,040 |
| Total | 1,799,186 | 1,752,719 |
| All figures in €'000 | March 31, 016 | March 31, 2015 |
|---|---|---|
| Shareholders' equity | 387,895 | 385,753 |
| Provisions | 90,900 | 86,536 |
| Deferred tax liabilities | 10,503 | 10,549 |
| Liabilities due to clients in the banking business | 1,111,009 | 1,102,569 |
| Liabilities due to banks in the banking business | 27,746 | 23,095 |
| Tax liabilities | 8,093 | 4,006 |
| Other liabilities | 163,039 | 140,211 |
| Total | 1,799,186 | 1,752,719 |
| All figures in €'000 | 1st quarter 2016 |
1st quarter 2015 |
|---|---|---|
| Cash and cash equivalents at the beginning of the period | 94,540 | 72,119 |
| Cashflow from operating activities | 70,032 | 35,384 |
| Cashflow from investing activities | –31,176 | –11,987 |
| Cashflow from financing activities | – | – |
| Change in cash and cash equivalents | 38,856 | 23,397 |
| Cash and cash equivalents at the end of the period | 133,396 | 95,516 |
| Gains/losses | Revaluation gains/ | |||||
|---|---|---|---|---|---|---|
| from changes in | losses related | |||||
| the fair value of | to defined benefit | Total | ||||
| available-for-sale | obligations after | Retained | shareholders | |||
| All figures in €'000 | Share capital | Capital reserves | securities* | taxes | earnings | equity |
| As of Jan. 1, 2015 | 107,878 | 142,184 | 1,460 | –10,730 | 136,004 | 376,795 |
| Net profit | – | – | – | – | 5,229 | 5,229 |
| Other comprehensive income | – | – | 452 | –3,888 | – | –3,436 |
| Total comprehensive income | – | – | 452 | –3,888 | 5,229 | 1,794 |
| As of March 31, 2015 | 107,878 | 142,184 | 1,912 | –14,618 | 141,233 | 378,589 |
| As of Jan 1, 2016 | 109,335 | 146,727 | 1,212 | –8,968 | 137,448 | 385,753 |
| Net profit | – | – | – | – | 6,159 | 6,159 |
| Other comprehensive income | – | – | –365 | –3,652 | – | –4,018 |
| Total comprehensive income | – | – | –365 | –3,652 | 6,159 | 2,141 |
| As of March 31, 2016 | 109,335 | 146,727 | 847 | –12,620 | 143,607 | 387,895 |
*Reclassifiable gains/losses.
| Financial services | |||
|---|---|---|---|
| All figures in €'000 | 1st quarter 2016 |
1st quarter 2015* |
|
| Revenue | 91,034 | 96,333 | |
| Other revenue | 2,715 | 3,235 | |
| Total revenue | 93,750 | 99,568 | |
| Commission expenses | –40,277 | –41,544 | |
| Interest expenses | –486 | –404 | |
| Loan loss provisions | –572 | –751 | |
| Personnel expenses | –19,143 | –19,311 | |
| Depreciation and impairments | –1,904 | –3,946 | |
| Other operating expenses | –29,960 | –29,136 | |
| Earnings from investments accounted for using the equity method | 340 | 362 | |
| Segment earnings before interest and tax (EBIT) | 1,748 | 4,838 | |
| Other interests and similar income | 107 | 98 | |
| Other interest and similar expenses | –164 | –196 | |
| Finance cost | –57 | –98 | |
| Earnings before tax (EBT) | 1,691 | 4,740 | |
| Income Taxes | – | – | |
| Net profit | – | – |
*As of 2016, loan loss provisions are disclosed as a separate item. For this reason, the previous year´s disclosure was adjusted.
| Total | Consolidation | Holding | DOMCURA | FERI | |||||
|---|---|---|---|---|---|---|---|---|---|
| 1st quarter 2015* |
1st quarter 2016 |
1st quarter 2015 |
1st quarter 2016 |
1st quarter 2015 |
1st quarter 2016 |
1st quarter 2015 |
1st quarter 2016 |
1st quarter 2015 |
1st quarter 2016 |
| 125,868 | 148,815 | –890 | –1,217 | – | – | – | 30,501 | 30,425 | 28,497 |
| 4,098 | 3,569 | –2,824 | –2,805 | 2,745 | 2,507 | – | 246 | 942 | 905 |
| 129,966 | 152,384 | –3,713 | –4,022 | 2,745 | 2,507 | – | 30,747 | 31,367 | 29,402 |
| –58,371 | –75,118 | 751 | 1,085 | – | – | – | –19,023 | –17,578 | –16,903 |
| –404 | –482 | 1 | 4 | – | – | – | – | – | – |
| –751 | –1,243 | – | – | – | – | – | 5 | – | –677 |
| –27,340 | –29,968 | – | – | –1,009 | –921 | – | –3,282 | –7,020 | –6,623 |
| –4,891 | –3,143 | – | – | –508 | –486 | – | –317 | –437 | –435 |
| –31,537 | –34,069 | 2,993 | 2,960 | –2,690 | –2,533 | – | –1,737 | –2,705 | –2,799 |
| 362 | 340 | – | – | – | – | – | – | – | – |
| 7,034 | 8,700 | 31 | 26 | –1,461 | –1,432 | – | 6,394 | 3,626 | 1,964 |
| 121 | 126 | –25 | –29 | 39 | 19 | – | 19 | 8 | 11 |
| –297 | –270 | 61 | 49 | –121 | –129 | – | –2 | –41 | –25 |
| –177 | –144 | 36 | 20 | –81 | –110 | – | 17 | –33 | –14 |
| 6,857 | 8,556 | 67 | 46 | –1,542 | –1,542 | – | 6,411 | 3,593 | 1,950 |
| –1,628 | –2,397 | – | – | – | – | – | – | – | – |
| 5,229 | 6,159 | – | – | – | – | – | – | – | – |
MLP AG Alte Heerstraße 40 69168 Wiesloch Tel +49 (0) 6222 • 308 • 8320 Fax +49 (0) 6222 • 308 • 1131 www.mlp-ag.com
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