Press release BoxID: 714432 (msg life ag)
  • msg life ag
  • Humboldtstraße 35
  • 70771 Leinfelden-Echterdingen
  • Contact person
  • Frank Fahrner
  • +49 (711) 94958-730

msg life ag publishes nine-month report 2014

(PresseBox) (Leinfelden-Echterdingen, ) msg life ag (ISIN DE0005130108) published its nine-month report for 2014 today. The report reveals that the company generated aggregate turnover of 75.4 million euros as at 30 September 2014 (prior-year period: 95.1 million euros) and earnings before interest, taxes, depreciation and amortisation (EBITDA) amounting to 10.0 million euros (prior-year period: -5.7 million euros).

This means that both turnover and EBITDA are entirely in line with the budget for the year - although the turnover and earnings figures cannot be compared to those of the corresponding period last year. This is because that reporting period in 2013 still included the now-discontinued Banking segment and the consolidation of the participating interest in plenum AG, which in the meantime has likewise been disposed of.

All in all, msg life generated consolidated earnings of 12.7 million euros as at 30 September 2014 (prior-year period: -10.7 million euros) and consequently earnings per share of 0.31 euros (prior-year period: 0.25 euros). A similarly positive trend was shown by cash flow from operating activity, which again improved year-on-year and totalled 16.3 million euros (30 September 2013: 10.3 million euros).

Equity as at 30 September 2014 totalled 53.4 million euros, 9.8 million euros higher than at the end of the 2013 financial year. The equity ratio as at 30 September 2014 was 59.1 per cent, representing an increase of 16.5 per cent in comparison with 31 December 2013. This, too, illustrates the positive course of business in 2014 so far and the Group's successful turnaround.

As at the end of the third quarter of 2014, the msg life Group's workforce consists of 871 employees (prior-year period: 1,118 employees). This reduction in employee numbers can likewise be attributed to the fact that the Banking subsidiary and plenum ag, together with the latter's subsidiaries, are no longer part of the msg life ag consolidation group.

Thanks to the company's corporate name change in October, the sale of the Banking subsidiary and the disposal of the former participating interests in plenum AG and B+S Banksysteme Aktiengesellschaft, msg life ag has completed the most important previously outstanding strategic measures for the msg life Group's realignment in the course of the 2014 financial year.

In view of the current market and sales situation, the company is still expecting to generate turnover of around 100.0 million euros and earnings before interest, taxes, depreciation and amortisation (EBITDA) of some 11.0 million euros in the current 2014 financial year. This EBITDA figure contains a non-recurring effect from the sale of the Banking segment.

msg life ag

As part of the independent, internationally active msg Group, msg life ag and its subsidiaries are among the leading software and consulting companies for the European insurance sector and concentrate primarily on life insurance companies and institutions providing private retirement pensions. Their product and service spectrum ranges from standard software through consulting services to the assumption of responsibility for IT operations (software as a service).

The msg life Group has its head office in Leinfelden-Echterdingen and offices in Munich, Aachen, Düsseldorf, Hamburg, Cologne and St. Georgen, as well as subsidiaries in the Netherlands, Austria, Switzerland, Slovakia, Slovenia, Poland, the Czech Republic, Portugal and the USA. It currently employs a workforce of nearly 900.