MPC Capital has significantly expanded its assets under management in the maritime sector through acquisitions.
Assets under management increased by € 1 billion to € 5.1 billion in the past year. The acquisition of Zeaborn Ship Management (€ 0.7 billion) accounted for the majority of this increase. This also increased turnover by 13% to € 43 million (2023: € 37.9 million). Earnings before taxes (EBT) reached € 24.5 million.
Constantin Baack, CEO of MPC Capital AG, comments: “With solid revenue growth and strong co-investment income, 2024 was another excellent year for MPC Capital.”
Management fees increased by 14% to € 34.8 million (2023: € 30.5 million), mainly due to the acquisition of Zeaborn Ship Management, which was completed in the second quarter of 2024. Transaction fees amounted to € 6.2 million in 2024 and were therefore slightly below the previous year’s level (2023: € 7 million). Recurring management fees account for 81% of total revenue.
In 2024, MPC Capital also benefited from ongoing dividends from its long-term investments, including MPC Container Ships ASA, as well as from proceeds from the exit of co-investments. MPC Capital reports an equity ratio of 81% (2023: 85%) and a cash position of € 33.2 million (€ 61.1 million).
The market value of MPC Capital’s co-investment portfolio amounted to around € 155 million as of December 31, 2024, significantly exceeding the carrying amount of € 96 million. In view of the strong financial performance in 2024, the Management Board, in consultation with the Supervisory Board of MPC Capital AG, intends to propose a dividend of € 0.27 per share to the Annual General Meeting on June 13. The proposal corresponds to a payout ratio of 57% of net profit.
In addition to various new business initiatives in the established Maritime and Energy Infrastructure platforms, the Hamburg-based group had launched a special investment platform for the offshore sector and ordered a number of specialized offshore vessels. The equity of € 70 million was raised from infrastructure investor Eurazeo and a European family office.
The Executive Board expects consolidated revenue of between € 43 million and € 47 million for the 2025 financial year. Consolidated earnings before taxes (EBT) are expected to be between € 25 million and € 30 million.
