MPC Capital - Improved results under refined business model
MPC Capital reported a significant operational improvement in FY21, highlighted by a rise in PBT to €10.4m from €1.3m recorded in FY20. As the company operated under an optimised business model, moving operating management services in the shipping segment into joint venture (JV) structures, the revenue recognition method changed to proportionate consolidation. This led to an apparent decline in total sales despite a 28.3% y-o-y increase in fees from transaction services to €13.8m. We note that assets under management (AUM) expanded during the period (to €4.9bn from €4.4bn in FY20), which supported management fees.MPC - Muenchmeyer Petersen Capital AG. MPC Muenchmeyer Petersen Capital AG (MPC Capital) is a German-based holding company engaged in wealth and asset management. The Company develops and markets yield-oriented, tax-optimized investments for private and institutional investors. The Company operates in the following business segments: ship investments, real estate, energy, and other investments (insurance products, umbrella funds, investment funds and private equity). It has such subsidiaries as Ahrenkiel Steamship and DSC Deutsche SachCapital GmbH, among others. The Company has a number of subsidiaries in Germany, Austria, Spain, Liechtenstein, Switzerland and the Netherlands, among others.
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