msg life publishes financial data for 2016

The msg life Group recently published its financial data for the 2016 financial year. The report reveals that the Group generated aggregate turnover of 121.3 million euros (2015: 108.1 million euros) and earnings before interest, taxes, depreciation and amortisation (EBITDA) amounting to 11.5 million euros (2015: 8.5 million euros); EBITDA comprises expenses of 0.8 million euros from the reported settlement in connection with the former stake in B+S Banksysteme Aktiengesellschaft.

Net Group income for the 2016 financial year amounted to 6.5 million euros (previous year: 4.7 million euros). Earnings per share came to 0.16 euros (previous year: 0.12 euros) and the operating cash flow totalled 1.0 million euros (previous year: 2.5 million euros). The Group's equity ratio as at 31 December 2016 has increased to 58.8 per cent (previous year: 55.7 per cent) and equity amounts to 52.2 million euros (previous year: 45.5 million euros). At the end of December 2016, the msg life Group employed a total of 925 members of staff (previous year: 863 employees).

These positive figures for 2016 were the result of, among other things, the stable business with existing customers, which was characterised by successful projects and continuously generated new orders. Along with this successful business with existing customers, 2016 saw the addition of many new international customers, including UNIQA Asigurari de viata, APRIL Portugal, Tranquilidade, Línea Directa and Helvetia Österreich.

Furthermore, msg life recorded two extraordinary sales successes with regard to msg.Insurance Suite (msg.I-Suite): Canada Life Europe contracted the company to introduce the entire msg.I-Suite for the German Life segment of Canada Life, and Austrian insurer UNIQA opted for the implementation of msg.Life Factory as well as other significant components of msg.I-Suite for its Life segment.

In the current 2017 financial year, msg life is anticipating aggregate turnover of between 118.0 million and 123.0 million euros and earnings before interest, taxes, depreciation and amortisation (EBITDA) of between 11.0 million and 13.0 million euros.