MPC Capital Reports Substantial Growth in Q1 2024

MPC Capital AG, the Hamburg-based asset and investment manager, showcased significant growth in its first quarter of 2024. The company reported an 11% increase in revenue, totaling EUR 9.6 million. Notably, recurring management fees rose by 4% to EUR 7.7 million, primarily boosted by expanded maritime activities and the acquisition of the ship manager Zeaborn.

The transaction business surged by 64%, yielding EUR 1.8 million, propelled by robust sales and purchases of office properties and vessels. Additionally, the completed construction of innovative container vessels contributed to the decarbonization of maritime infrastructure. The financial results were impressively strong, with earnings before taxes climbing by 69% to EUR 7.0 million.

MPC Capital also confirmed its 2024 full-year forecast, expecting revenues to at least match the previous year's EUR 37.9 million, with a probable increase in pre-tax earnings beyond the 2023 figure of EUR 19.3 million. The firm plans to keep expanding investment platforms amid favourable conditions for energy transition investments and decarbonization initiatives in shipping.

Leadership changes were also announced, with Constantin Baack set to become CEO following the upcoming annual general meeting. The current CEO, Ulf Holländer, will transition to the Supervisory Board, marking a key leadership reshuffle aimed at maintaining strategic focus and operational continuity.