MPC Münchmeyer Petersen Capital AG

Earnings Release • Feb 27, 2004

News Details

Ad-hoc | 27 February 2004 08:01

MPC Capital AG – Results Full Year 2003

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– MPC Capital AG doubles sales and earnings Dividend to be raised to EUR 3.00 Hamburg, February 27, 2004 – In FY 2003, MPC Münchmeyer Petersen Capital AG, the SDAX-listed financial service provider, placed EUR 748 million (2002: EUR 383 million) in equity, which made the company the market leader for closed-end investment funds in Germany. Sales almost doubled from the previous year’s EUR 85.2 million to EUR 159.2 million. Earnings before interest and taxes (EBIT) were up 163% on the previous year’s EUR 17.4 million to EUR 46.4 million. Consolidated net profit for the year more than doubled from EUR 14.1 million in 2002 to EUR 33.3 million. Earnings per share climbed from EUR 1.33 to EUR 3.14. The result will again enable the dividend to be raised from EUR 1.25 Euro to EUR 3.00. The respective decision will be taken by the Managing Board and the Supervisory Board on April 5, 2004. Balance sheet total amount to EUR 152 million (2002: EUR 135 million). As of the balance sheet date, the Hamburg-based issuing house had equity capital of EUR 115 million; the equity ratio rose from 70% to 75%. The Managing Board expects a placement volume of EUR 700 to 750 million for 2004. Net profit for the year is expected to reach EUR 28 to 30 million, which would be equivalent to earnings per share of EUR 2.64 to 2.83. The company intends to stick to its shareholder-friendly dividend policy. end of ad-hoc-announcement (c)DGAP 27.02.2004 Issuer’s information/explanatory remarks concerning this ad-hoc-announcement: “2003 was an excellent year for MPC Capital. After a bit less than ten years in the business, we have managed to become the overall market leader in closed-end funds. We have been able to establish structures that allow us to implement projects of a dimension that is new to MPC Capital such as the Austria real estate fund or the 8,000 TEU container ship funds while working to consistently high standards of quality and speed. We almost doubled our placement volume in the past year, and the outlook for 2004 is excellent, as attractive capital investments are in high demand and our pipeline already has an excellent product volume of EUR 550 million,” said Dr. Axel Schroeder, Board Chairman of MPC Capital AG. Close-end real estate funds comprising properties in the Netherlands, Canada, Germany and Austria were the company’s most successful product group in fiscal 2003. Of the EUR 748 million in total equity placed, EUR 430 million, were accounted for by real estate funds, which contributed 53% to total sales. At EUR 191 million in equity, ship investments were the second best business segment, followed by life insurance funds (EUR 107 million). Corporate investments including ship investments contributed 31% to total 2003 sales, while the life insurance funds accounted for 13%. Some 7% of total 2003 sales were generated outside Germany. In particular, the sales contribution made by the Austrian subsidiary more than doubled over the previous year. The MPC Capital Group employed 147 people on an annual average basis (2002: 137 people). Since 1994, more than 68,000 customers have invested over EUR 2.7 billion in 171 funds with a total investment volume of EUR 7.6 billion. Inquiries: Andreas Schwarzwälder Investor Relations MPC Münchmeyer Petersen Capital AG, Palmaille 67, D-22767 Hamburg, 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 270801 Feb 04