sur MLP AG (isin : DE0006569908)
MLP SE Posts Strong Q2 Results Driven by Wealth Management and Banking
MLP SE recorded solid growth in Q2, with an 8.5% year-over-year increase in total revenues, reaching €230 million. This performance was driven by gains in Wealth Management (up 18% yoy), Interest Income (up 48% yoy), and Real Estate Brokerage (up 128% yoy). These gains offset declines in Non-Life Insurance (down 7% yoy), while Old-Age Provision and Health Insurance remained stable.
Despite a temporary dip in Non-Life Insurance and Old-Age Provision, MLP's management expects a rebound in the coming quarters. The company saw substantial EBIT growth in H1, up 30% to €48.7 million, primarily due to strong performances in banking, brokerage, and wealth management.
Looking ahead, MLP expects a continued rise in Real Estate sales, potentially turning a negative EBIT into a positive by FY'25. The company also posted record figures in assets under management and non-life insurance volume, with a strong net liquidity of €220 million.
Analysts at NuWays AG reiterated their BUY recommendation for MLP shares, highlighting the attractive valuation metrics and robust business diversification. They maintained the price target at €11.50.
R. P.
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