NuWays AG Recommends MLP SE as a Buy

MLP SE has been classified with a "Buy" recommendation by NuWays AG, citing stable Q4 results and promising forecasts. The Q4 results showed total sales of €303m, aligning with expectations and reflecting a 5% year-on-year growth. EBIT increased by 12% to €29m, reaching the high end of the guidance at €95m for FY'24. A significant factor was the absence of goodwill impairment. The banking and performance fees contributed positively, despite a drag from the real estate segment.

Notably, MLP announced a 20% dividend increase to €0.36 per share, yielding 5.1%. The guidance for FY'25 anticipates an EBIT range of €100-110m and a break-even in the real estate segment. For FY'28, MLP expects sales between €1,300-1,400m, with an EBIT of €140-150m, backed by persistent demographic trends and a diversified business model.

NuWays AG maintains a target price of €13.00, acknowledging MLP's solid growth prospects.