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 Property & Casualty (+12%) and Wealth (+11%) segments.

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

• Strategic expansion included new digital offerings for medical professionals and preparation for regulatory changes in pension products.

• EBIT forecast for 2026 confirmed at €100–110 million; midterm EBIT target for 2028 reaffirmed at €140–155 million.

• Guidance for 2028 includes total revenue of €1.3–1.4 billion, EPS of €0.90–0.99, and assets under management of €75–81 billion.

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, up 41.4% year-over-year; net profit rose 45% to €42 million; EPS up 47% to €0.39.

• Assets under management rose to a record €68.8 billion (+4.5% from Dec 2025) despite temporary capital market declines.

• Non-life insurance premium volume reached a record €865 million (+13% CAGR since 2020).

• Recurring revenue accounted for about 70% at the end of 2025, supporting business stability.

Outlook and guidance

• EBIT forecast for full-year 2026 confirmed at €100–110 million; midterm EBIT target for 2028 reaffirmed at €140–155 million.

• 2028 planning targets total revenue of €1.3–1.4 billion, EPS of €0.90–0.99, assets under management of €75–81 billion, and non-life insurance premium volume of €1.0–1.1 billion.

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

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