Brief: MLP sees increase in free own funds by changing group structure
21/02/2017 12:29
Feb 21 (Reuters) - MLP AG MLPG.DE :
* Decided on change in group structure. Through legal
corporate separation, regulated banking and financial services
business will be concentrated in one company and other brokerage
and consulting services in other
* Says on basis of current capital adequacy requirements,
Mlp expects free own funds to increase gradually by probably
around 75 million euros ($79.01 million) by the end of 2021
* Expects that these measures will generate one-off
exceptional costs of 9 million euros in 2017
* Taking into account these one-off exceptional costs, MLP
is anticipating IFRS EBIT of at least 36 million euros for 2017,
which corresponds to an increase of 17 percent over 2015 (30.7
million euros)
* Intends to base its dividend proposal for financial year
2017 on operating net profit (net profit before one-off
exceptional costs) and will maintain a distribution rate of 50
to 70 percent
* It is anticipated that measures will be implemented in
spring 2018
Source text for Eikon: ID:nEQ1zrbwm
Further company coverage: MLPG.DE
($1 = 0.9492 euros)
(Gdynia Newsroom)
((gdynia.newsroom@thomsonreuters.com; +48 58 772 0920;))