Germany's MLP preliminary Q2 EBIT jumps on higher AUM, net interest income
Germany's MLP preliminary Q2 EBIT jumps on higher AUM, net interest income
Overview
Germany financial services firm's preliminary Q2 EBIT rose sharply yr/yr to about EUR 19 mln
EBIT growth driven by higher assets under management, performance-based compensation, and net interest income
Company confirmed full-year EBIT forecast of EUR 100-110 mln
Outlook
MLP confirms full-year EBIT forecast of EUR 100-110 mln
Result Drivers
ASSETS UNDER MANAGEMENT - Co said higher assets under management contributed to improved Q2 EBIT
PERFORMANCE-BASED COMPENSATION - Co cited higher performance-based compensation, largely recognised in results, as a driver of Q2 EBIT
NET INTEREST INCOME - Improved net interest income supported Q2 EBIT, according to the company
Company press release: ID:nEQ4VWsbTa
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 EBIT |
| EUR 19 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the diversified investment services peer group is "buy"
Wall Street's median 12-month price target for MLP SE is €10.30, about 37.7% above its July 28 closing price of €7.48
The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 10 three months ago
Reuters Recommended Reads
July 29 - Germany's DWS Q2 revenue falls 6% sequentially, net income drops
July 29 - Italy's Azimut posts H1 profit of EUR 11.8 mln; acquires Turkey's Yapı Kredi Portföy
July 28 - UK's Man Group H1 AUM rises to record on investment performance
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)