msg life publishes its report for the first half-year
With consideration for factors such as tax expenditure of 1.8 million euros, as at 30 June 2016 msg life generated net income of 0.1 million euros for the period (30 June 2015: 1.2 million euros) and therefore break-even earnings per share (30 June 2015: 0.03 euros). The positive cash flows from operating activities totalled 0.8 million euros (30 June 2015: 1.5 million euros).
Equity as at 30 June 2016 totalled 46.2 million euros, remaining at almost the same level as at 31 December 2015. The equity ratio was 54.3 per cent as at 30 June 2016 (31 December 2015: 56.8 per cent). At the end of the first half of 2016, msg life employed a total of 882 members of staff (30 June 2015: 859 employees).
In addition to several new contracts, msg life registered further stable business with existing customers in the reporting period, a fact which attests to their level of confidence in the company. In light of the generally promising sales pipeline, the company expects further sales successes in the second half of the year.
In the 2016 financial year, msg life expects earnings before interest, taxes, depreciation of property, plant and equipment and amortisation of intangible assets (EBITDA) of between 10.0 and 12.0 million euros and aggregate turnover of between 110.0 and 112.0 million euros.
About msg life ag
As part of the independent, internationally active msg Group, msg life ag and its Group companies are among the leading software and consulting companies for the European insurance sector and concentrate primarily on life insurance companies and pension fund institutions. Their products and services range from standard software through consulting services to the assumption of responsibility for IT operations (cloud solutions).
The msg life Group has its head office in Leinfelden-Echterdingen and offices in Munich, Aachen, Düsseldorf, Hamburg and Cologne, plus subsidiaries in the Netherlands, Austria, Switzerland, Slovakia, Slovenia, Poland, Portugal and the USA. It currently employs a workforce of around 900.