MLP (MLP) investor relations material

Executive summary

• Achieved record total revenue of €529–529.1 million in H1 2025, with growth across all core business segments and competence fields despite a challenging environment.

• Assets under management reached €63.9 billion and non-life insurance premium volume hit €785–785.4 million, both at record levels.

• Strategic investments in AI, digitalization, and corporate client expansion are driving operational improvements and future growth.

• Annual EBIT forecast of €100–110 million for 2025 reaffirmed, with midterm 2028 targets for EBIT of €140–150 million and total revenue of €1.3–1.4 billion.

• Share price increased 37.5% in H1 2025, outperforming major indices, with a dividend of €0.36 per share approved.

Financial highlights

• Total revenue for H1 2025 increased by 3% year-over-year to €529–529.1 million, with recurring revenue at nearly 68–70%.

• EBIT for H1 2025 was €42.7 million, down 12–12.3% from the prior year but above the five-year average.

• Net profit for H1 2025 was €28.9 million, down 23–23.5% year-over-year; EPS at €0.26, down from €0.35.

• EBIT margin declined to 8.1% from 9.5%; net margin at 5.5% versus 7.3% last year.

• Shareholders' equity at €560.6–561 million as of June 30, 2025; equity ratio at 13.4%; return on equity at 5.0–5.1%.

Outlook and guidance

• EBIT guidance for 2025 remains at €100–110 million, with expectations of strong Q4 contributions from Life & Health and Property & Casualty.

• Midterm 2028 targets: EBIT of €140–150 million, total revenue of €1.3–1.4 billion, and assets under management of €75–81 billion.

• Non-life insurance premium volume expected to grow to €1.0–1.1 billion by 2028.

• Anticipates continued revenue growth in Life & Health and Property & Casualty; Wealth expected to remain stable barring capital market volatility.

• Dividend payout policy remains at 50–70% of net earnings; 2025 payout ratio was 57%.