MLP (MLP) investor relations material

Executive summary

• Achieved record highs in total revenue (€583.4 million, +10.3%), EBIT (€64 million, +41.4%), assets under management (€68.8 billion), and non-life insurance premium volume (€865 million) for H1 2026, with strong growth in Wealth (+11–15%) and Property & Casualty (+12%) segments.

• Business model resilience and growth were supported by strategic integration, digitization, AI, and innovation, enabling the company to withstand external challenges.

• Strategic expansion in digital platforms and targeted offerings, especially for medical professionals, is creating new revenue streams and client touchpoints.

• EBIT forecast for full-year 2026 confirmed at €100–110 million; midterm planning for 2028 targets EBIT of €140–155 million and total revenue of €1.3–1.4 billion.

• Digitalisation and AI are key growth drivers, with continued focus on cost efficiency and innovation.

Financial highlights

• Total revenue for H1 2026 increased by 10.3% year-over-year to €583.4 million, a new record.

• EBIT for H1 2026 reached €64 million (+41.4%), net profit rose 45.4% to €42 million, and EPS grew 47% to €0.39.

• Assets under management rose to €68.8 billion (+4.5%), and non-life insurance premium volume hit €865 million (+6.8%), both record levels.

• Performance fees in H1 2026 totaled €8.5 million, with an additional €3.6 million from carries in Q2.

• Cash flow from operating activities increased 64.5% to €75.8 million; capital expenditure fell 37.8% to €9.2 million.

Outlook and guidance

• EBIT forecast for 2026 confirmed at €100–110 million; 2028 planning targets EBIT of €140–155 million and total revenue of €1.3–1.4 billion.

• Expansion planned in non-life insurance premium volume to €1.0–1.1 billion and assets under management to €75–81 billion by 2028.

• Revenue growth expected across all competence fields, with conservative assumptions for performance-based compensation.

• Guidance remains unchanged due to capital market uncertainties; no further performance fees assumed for H2 2026.

• Administration costs expected to remain stable; continued investment in digitalization and efficiency.