24 slides from Mpc Munchmeyer Petersen Capital's earnings presentation, Aug 22, 2024
Slide 1: H1 2024 Results Presentation
22 August 2024 H1 2024 RESULTS PRESENTATION Constantin Baack (CEO), Dr. Philipp Lauenstein (CFO)
Slide 2: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS MPC Capital AG Certain information and statements shared in this document, including financial estimates and comments about our plans, expectations, beliefs, or business prospects, and other information and statements that are not historical in nature, may constitute forwa
Slide 3: Agenda
AGENDA 1. Introduction & Strategy Update 2. Operational Highlights 3. Financial Highlights 4. Outlook & Summary 5. Q&A | H1 2024 Results Presentation | 3
Slide 4: Strategy Update: More Focused & More Profitable
STRATEGY UPDATE: MORE FOCUSED & MORE PROFITABLE Transitioning from a multi-asset approach to a focused investment and asset manager of maritime and energy infrastructure » Focused and integrated business model From a … to an » Strong market positions in maritime (established) and energy infrastructu
Slide 5: MPC Capital at a glance
INVESTMENT MANAGER AND OPERATOR OF MARITIME AND ENERGY INFRASTRUCTURE MPC Capital at a glance € 4.8bn Assets under Management (H1 2024) € 20+ bn invested across asset classes 30 years of track record in real asset investments Listed at Frankfurt stock exchange since 2000 | Company Presentation Intro
Slide 6: H1 2024 in a Nutshell
H1 2024 IN A NUTSHELL » Total Income Investment Income EBT Transaction Fees (in EUR million) (in EUR million) Dynamic execution momentum Management Fees Both new business initiatives and existing platforms have performed strongly 37.6 16.5 25.8 » 9.2 Strong set of H1 2024 results Across all income s
Slide 7: Operational Highlights
MPC CAPITAL Operational Highlights AS Floriana 1,300 TEU container vessel Investment Vehicle: MPC Container Ships | |
Slide 8: Busy First Half of 2024
BUSY FIRST HALF OF 2024 » Growth of Existing Platform Acquisition of Zeaborn Ship management » New Business Initiatives Maritime Infrastructure » Co-Investment Portfolio Increase of stake in MPC Container Ships » Significant growth of fleet under technical » Several transactions in maritime infrastr
Slide 9: AuM Growth Drives Recurring Management Fees
AUM GROWTH DRIVES RECURRING MANAGEMENT FEES AUM DEVELOPMENT (IN EUR BN) AUM SPLIT BY FOOTPRINT (30 JUN 2024) 0.9 0.2 0.3 4.8 0.2 Zeaborn acquisition 0.7 effect EUR 68% 32% 4.1 4.8bn Traditional Assets Energy Transition-Related Assets* 31 Dec 2023 Additions Revaluations Exits 30 Jun 2024 * Energy Tra
Slide 10: Financial Highlights
Tilawind farm, Tilarán, Costa Rica Investment Vehicle: MPC Caribbean Clean Energy Fund MPC CAPITAL Financial Highlights | |
Slide 11: Strong H1 2024 Result
STRONG H1 2024 RESULT SIMPLIFIED P&L (IN EUR M) P&L HIGHLIGHTS H1 2024 H1 2023 H1 2024 Management fees Transaction fees 13.9 3.1 17.1 3.3 +23% +80% Other revenues 0.2 0.8 Increase in Management Fees (yoy) Increase in EBT (yoy) Total revenues 17.2 21.2 Other operating income 2.5 16.5 Personnel expens
Slide 12: Rock-Solid Balance Sheet Facilitates Growth Ambitions
ROCK-SOLID BALANCE SHEET FACILITATES GROWTH AMBITIONS SIMPLIFIED BALANCE SHEET STRUCTURE (IN EUR M) BALANCE SHEET HIGHLIGHTS H1 2024 31 Dec 2023 30 Jun 2024 Co-investment portfolio Cash position 67.1 61.1 87.6 31.4 EUR 123m Debt-free Other assets 23.9 28.4 Book equity Balance sheet Total assets 152.
Slide 13: Co-Investment Activities Have Reached Mature Level
CO-INVESTMENT ACTIVITIES HAVE REACHED MATURE LEVEL, WITH FURTHER SCALABILITY POTENTIAL CO-INVESTMENT PORTFOLIO (30 JUN 2024, IN EUR M) CO-INVESTMENT TRACK RECORD** 13 Investments 23 Exits ~28% +77% No. of exited investments IRR on exits (weighted) ~155 Accounting at Nominal Investment (German GAAP)
Slide 14: Upgraded Guidance FY 2024, Building on a Profitable Growth Path
UPGRADED GUIDANCE FY 2024, BUILDING ON A PROFITABLE GROWTH PATH REVENUE (IN EUR M) EBT (IN EUR M) Transaction Fees Management Fees +5% +15-25% guidance lift guidance lift ~40 23-25 37.9 36.5 19.3 7.0 7.0 14.8 29.5 30.9 2022 2023 2024e 2022* 2023 2024e - updated guidance - - updated guidance - *Adjus
Slide 15: Outlook
MPC CAPITAL Outlook Santa Rosa & Villa Sol solar photovoltaic (PV), El Salvador Investment Vehicle: MPC Energy Solutions | |
Slide 16: Decarbonization Provides Significant Tailwinds
DECARBONIZATION PROVIDES SIGNIFICANT TAILWINDS TO CONTINUE AND ACCELERATE PROFITABLE GROWTH PATH Track record Outlook » AuM growth*: 10% p.a. » AuM growth to accelerate due to sharpened focus Growth » Energy transition-related growth at 40% p.a. » Co-investment portfolio to grow in-line with AuM » E
Slide 17: Selection of New Business Initiatives
SELECTION OF NEW BUSINESS INITIATIVES Expand activities in the European energy market » First asset acquired (11 MW onshore wind farm), asset pipeline ready to be deployed » Fundraising activities ongoing, market sentiment is gradually improving Enter maritime offshore wind support vessel sector » S
Slide 18: Summary
MPC CAPITAL Summary AS Floriana 1,300 TEU container vessel Investment Vehicle: MPC Container Ships | |
Slide 19: Key Takeaways
KEY TAKEAWAYS Refined strategy, operating in structural growth markets Transitioning from a multi-asset approach to a focused investment manager and operator of maritime and energy infrastructure Proven track record & strong platform momentum Successful AuM ramp-up continues 2024 Highly profitable a
Slide 20: Q&A
Monte Plata 76 MWp PV plant, Dominican Rebublic Investment Vehicle: MPC Caribbean Clean Energy Fund MPC CAPITAL Q&A | |
Slide 21: H1 2024 Results Presentation
22 August 2024 H1 2024 RESULTS PRESENTATION Constantin Baack (CEO), Dr. Philipp Lauenstein (CFO)
Slide 22: Publicly Listed Since 2000, With Long-Term Commitment From Founding Shareholder
PUBLICLY LISTED SINCE 2000, WITH LONG-TERM COMMITMENT FROM FOUNDING SHAREHOLDER SHAREHOLDER STRUCTURE SHARE PRICE (IN EUR) 27% 5,00 MPC Münchmeyer Petersen & Co. GmbH (Family Office) MPC Capital 35.2m Other family holdings 51% 4,50 SDAX shares Freefloat 22% 4,00 3,50 LISTING INFORMATION (ISIN DE000A
Slide 23: Investor Relations Contact & Financial Calendar
INVESTOR RELATIONS CONTACT & FINANCIAL CALENDAR Stefan Zenker FINANCIAL CALENDAR 2024 Head of Investor Relations MPC Münchmeyer Petersen Capital AG + 22 August 2024 Palmaille 67 Publication of H1 2024 Results & Conference Call 22767 Hamburg + 22 August 2024 D +49 40 380 22 - 43 47 Hamburger Investor
Slide 24: Disclaimer
DISCLAIMER This presentation and the information contained herein (“the Presentation”) have been compiled with meticulous care and to the best of our knowledge. The Presentation is for information purposes only and does not constitute an offer to sell or a solicitation to buy any interest, shares or