msg life ag: msg life publishes nine-month report
msg life publishes nine-month report
(Leinfelden-Echterdingen, 17 November 2016) - msg life ag (ISIN DE0005130108) published its financial data for the first nine months of 2016 today. The data show that the financial year so far has been successful: with aggregate turnover of 87.5 million euros (30 September 2015: 78.7 million euros) and earnings before interest, taxes, depreciation of property, plant and equipment and amortisation of intangible assets (EBITDA) of 6.2 million euros (30 September 2015: 4.9 million euros), both turnover and earnings are in line with annual forecasts.
With consideration for factors including tax expenditure of 2.5 million euros (30 September 2015: 0.7 million euros), as at 30 September 2016, msg life had generated net income of 2.4 million euros for the period (30 September 2015: 3.0 million euros) and therefore earnings per share of 0.06 euros (30 September 2015: 0.07 euros). The positive cash flows from operating activities totalled 2.0 million euros (30 September 2015: 2.3 million euros).
Equity as at 30 September 2016 totalled 48.4 million euros, which represents an increase of 2.2 million euros in comparison with 31 December 2015. The equity ratio was therefore 54.8 per cent as at 30 September 2016 (31 December 2015: 56.8 per cent). At the end of September 2016, msg life employed a total of 907 members of staff (30 September 2015: 866 employees).
These positive economic indicators are the result of exceptionally stable business with existing customers characterised by successful projects that continually resulted in new contracts. msg life also attracted several new customers such as UNIQA Asigurari de viata, APRIL Portugal, Tranquilidade and Helvetia Österreich.
In the third quarter, msg life signed a partnership agreement with Barclays Bank in London with the objective of providing an efficient platform for innovative new life insurance, pension and long-term savings products. This shared solution is based on the life version of msg.Insurance Suite, thus including the core application msg.Life Factory and the products from Barclays known on the market as FlexProtect. msg life expects the partnership in connection with this technically highly innovative overall solution to generate a significant volume of business in the medium and long term.
In the 2016 financial year, msg life expects earnings before interest, taxes, depreciation of property, plant and equipment and amortisation of intangible assets (EBITDA) of between 10.0 and 12.0 million euros and aggregate turnover of between 110.0 and 112.0 million euros.
About msg life
As part of the independent, internationally active msg Group, msg life ag and its Group companies are among the leading software and consulting companies for the European insurance sector and concentrate primarily on life insurance companies and pension fund institutions. Their products and services range from standard software through consulting services to the assumption of responsibility for IT operations (cloud solutions).
The msg life Group has its head office in Leinfelden-Echterdingen and offices in Munich, Düsseldorf, Hamburg and Cologne, plus subsidiaries in the Netherlands, Austria, Switzerland, Slovakia, Slovenia, Poland, Portugal and the USA. It currently employs a workforce of around 900.
msg life ag Corporate Communications Frank Fahrner Humboldtstrasse 35 70771 Leinfelden-Echterdingen Tel.: +49 (0)711 949 580 Email: email@example.com Internet: www.msg-life.com
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Language: English Company: msg life ag Humboldtstraße 35 70771 Leinfelden-Echterdingen Germany Phone: +49 (0)711 94958-0 Fax: +49 (0)711 94958-49 E-mail: firstname.lastname@example.org Internet: www.msg-life.com ISIN: DE0005130108 WKN: 513010 Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange End of News DGAP News Service