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MLP SE, DE0006569908

MLP SE, DE0006569908

23.07.2020 - 14:59:06

MLP SE: Q2 2020: Preliminary EBIT recorded by MLP SE significantly above the previous year's level

On the basis of preliminary business figures for the second quarter of 2020, MLP recorded preliminary earnings before interest and tax (EBIT) of around EUR 8 million (Q2 2020). This is significantly higher than the comparative figure from the same period in the previous year (Q2 2019: EUR -0.3 million).

Alongside overall positive development in terms of operations, this increase is in particular due to gains recorded in wealth management. It can essentially be attributed to a significant rise in performance-linked compensation, which was well above the same period of the previous year and also above expectations for this field of consulting. Performance-linked compensation is accrued for the positive performance of investment concepts in wealth management and is largely recognised in earnings.

In addition to this, claims for VAT refunds from previous years were settled by the tax authorities and also recognised as revenue in the second quarter of 2020. An EBIT contribution of EUR 3.4 million was recorded as a special effect resulting from this. MLP had already recognised a portion of the VAT refund as revenue in the third quarter of 2018 and communicated this accordingly. There are now no further open parts of these VAT refund claims.

Market conditions are likely to remain challenging over the remainder of the year due to the coronavirus pandemic. This in particular affects occupational pension provision, as very few companies are currently reaching decisions regarding new provision concepts. The markets for wealth management could potentially see great volatility due to the situation with the coronavirus crisis and to political uncertainties such as in the US.

Set against this background, MLP SE is sticking to its forecast from April 27, 2020 for the year 2020 (EBIT of EUR 34 to 42 million). MLP now expects to reach the upper end of this range following the successful development in the second quarter.

As announced, the full range of figures on business performance for the second quarter and first half of 2020 will be made available on August 13, 2020.

Performance-linked compensation and EBIT represent alternative KPIs, which are described in further detail at:

https://mlp-se.com/investors/mlp-share/key-figures/

Contact/notifying person: Jan Berg Head of Corporate Communications Tel: +49 (0)6222 308 4595 E-mail: jan.berg@mlp.de

23-Jul-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

Language: English Company: MLP SE Alte Heerstraße 40 69168 Wiesloch

Germany Phone: +49 (0)6222-308-8320 Fax: +49 (0)6222-308-1131 E-mail: investorrelations@mlp.de Internet: www.mlp-se.de ISIN: DE0006569908 WKN: 656990 Listed: Regulated Market in Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Tradegate Exchange EQS News ID: 1100581   End of Announcement DGAP News Service

1100581  23-Jul-2020 CET/CEST

@ dgap.de