on MLP AG (isin : DE0006569908)
MLP SE Presents Strong Q3 Performance, Receives 'Buy' Rating
MLP SE, evaluated by NuWays AG, displayed a significant boost in its Q3 performance, leading to a 'Buy' recommendation with a target price of €12. Sales surged by 19% year-over-year to €245 million, propelled by a €17 million effect from performance fees. The wealth segment particularly excelled with a 36% upsurge, reaching €140 million in sales.
The company's EBIT grew by 128% year-over-year, reaching €17.8 million, despite a 13% decline in underlying profitability due to increased operational expenses. The FY 2024 guidance remains intact with expectations for a Q4 EBIT between €19 and €29 million.
A potential dividend increase is anticipated, marking a 20% rise year-over-year, alongside a stable yield of 6%. MLP's diversified business model promises sustained growth, with mid-term targets for FY 2025 to be announced by March 2025.
R. H.
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