MLP AG Reports Mixed Earnings with Record Revenue

MLP AG ((DE:MLP)) has held its Q3 earnings call. Read on for the main highlights of the call.

MLP AG’s recent earnings call revealed a mixed sentiment, showcasing the company’s robust performance in several areas while also highlighting some challenges. The company achieved record highs in total revenue and assets under management, demonstrating resilience in a challenging macroeconomic environment. However, there were notable declines in EBIT, reduced performance fees, and weaker-than-expected results in certain business segments such as real estate and old-age provision.

Record High in Total Revenue

MLP AG reported a significant milestone by achieving new highs in total revenue, reaching approximately EUR 773 million for the first nine months of 2025. This achievement is particularly impressive given the challenging macroeconomic conditions, underscoring the company’s ability to navigate through economic uncertainties.

Growth in Assets Under Management

The company also marked a new high in assets under management, which rose to EUR 64.2 billion. This growth positions MLP as the second-largest bank-independent asset manager in Germany, reflecting its strong market presence and effective asset management strategies.

Increase in Non-Life Insurance Premium Volume

MLP’s managed non-life insurance premium volume reached a record high of EUR 794 million. This increase highlights the company’s successful expansion in the insurance sector, contributing to its overall revenue growth.

Positive Development in Property & Casualty Field

The Property & Casualty competence field experienced a 7% growth in the first nine months of 2025. This positive development indicates MLP’s strength in this area, contributing to its diversified revenue streams.

Strong Liquidity Coverage Ratio

MLP’s liquidity coverage ratio was reported at an impressive 1,124%, significantly exceeding the regulatory requirement of 100%. This strong liquidity position enhances the company’s financial stability and ability to meet its obligations.

Successful Trainee Program

The company’s successful trainee program led to an increase in the number of consultants, rising to 2,121. This growth in human resources is expected to support MLP’s future expansion and service delivery.

Decline in EBIT

Despite the positive revenue growth, MLP experienced a decline in EBIT, which stood at EUR 61.1 million for the first nine months of 2025, down from the previous year’s record high of EUR 66.4 million. This decline is attributed to various factors, including lower performance-based compensation.

Weakness in Wealth Competence Field

The Wealth competence field recorded a slight decline in revenue by 2%, primarily due to lower performance-based compensation. This weakness indicates challenges in maintaining revenue growth in this segment.

Real Estate Business Challenges

MLP faced challenges in its real estate development business, leading to an adjustment in its EBIT forecast. The weaker-than-expected performance in this segment has prompted the company to reassess its strategies.

Lower Performance Fees

Performance fees for the first nine months were significantly lower at EUR 4.8 million compared to the previous year’s EUR 26.8 million. This decline has impacted the company’s overall profitability.

Weaker Old-Age Provision Business

The old-age provision business also faced challenges, with MLP adjusting its expectations to anticipate stable rather than increased revenue. This adjustment reflects the difficulties in this segment amid changing market dynamics.

Forward-Looking Guidance

Looking ahead, MLP has revised its EBIT forecast for 2025 to EUR 90-100 million, considering the lower performance-based compensation and weaker old-age provision business. The company remains focused on digitalization, particularly AI, and its robust multi-pillar business model to support its ambitious midterm EBIT target of EUR 140-155 million by 2028.

In summary, MLP AG’s earnings call highlighted a strong performance in revenue and asset management, despite facing challenges in EBIT and certain business segments. The company’s strategic initiatives and focus on digitalization are expected to drive future growth, aligning with its long-term financial goals.