MPC Münchmeyer Petersen Capital AG

Earnings Release • Sep 18, 2003

News Details

Ad-hoc | 18 September 2003 20:04

MPC AG english

MPC Capital AG increases expectations for financial year 2003 Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– MPC Capital increases sales and earnings expectations for 2003 Exceptionally successful placement activity in the third quarter Hamburg, September 18, 2003 – SDAX-listed MPC Münchmeyer Petersen Capital AG has raised its forecast for the current fiscal year 2003. After very successful placements in the third quarter of the year, the Managing Board expects sales of EUR 112 million (previous forecast: EUR 90 million) for full fiscal 2003, up 31% on fiscal 2002 (EUR 85.2 million). Net profit for the year is now expected to amount to EUR 18 million (previous forecast: EUR 15 million), a 28% increase on fiscal 2002 (EUR 14.1 million). Earnings per share would hence increase from EUR 1.33 to EUR 1.70 (previous forecast: EUR 1.42). The largest non-bank provider of closed-end funds expects to place equity of EUR 520 million (previous forecast: EUR 420 million) in 2003, after EUR 384 million last year. This clearly improved result is expected due to successful placement activity in the area of life insurance funds and closed-end real estate funds as well as the product pipeline for ship investments and closed-end real estate funds. end of ad-hoc-announcement (c)DGAP 18.09.2003 Issuer’s information/explanatory remarks concerning this ad-hoc-announcement: “Overwhelmingly successful placements in the third quarter and the product pipeline for the year-end business enable us to raise the forecast for full fiscal 2003 clearly. Expected earnings of EUR 1.70 per share mean we are heading for another record year, which should allow another dividend increase for our shareholders. The existing product volume in the area of real estate funds and ship investments ensures we are well prepared to satisfy potential additional demand in the fourth quarter of 2003 and at the beginning of 2004,” said Board Chairman, Dr. Axel Schroeder. An equity volume of EUR 95 million was raised through the placement of the second and third life insurance fund, meaning that the planned equity volume of EUR 60 million for the full fiscal year has already been exceeded. Demand for closed-end real estate funds developed equally dynamically: The Germany Fund, placement of which was expected to be completed by the end of the year has, for example, already been fully placed and, in particular, demand for funds with properties in the Netherlands and Canada has remained high. The initially planned placement volume of property funds of EUR 245 million has already been initiated and has been raised to EUR 252 million. In the area of ship investments, MPC Capital now expects to place equity of EUR 159 million, after EUR 85 million. In addition to the gratifying placement success in the current year, the product pipeline provides a positive outlook for the year-end business and the next years until 2006. The report on the nine-month period ended September 30, 2003 will be published on November 14, 2003. Inquiries: Andreas Schwarzwälder Investor Relations Phone: +49 (0)40 / 38022-347, Fax: +49 (0)40 / 38022-878, e-mail: ir@mpc-capital.com ——————————————————————————– 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 182004 Sep 03