In the first half of the year 2014, MCI Group generated a consolidated net profit of PLN 214.1 million. The value of net assets amounted to PLN 979.7 million, i.e. PLN 15.70 per share. In the first half of the year, the Company already executed 95% of the annual forecast, which envisaged an increase in the NAV per share to PLN 16.50. In the first half of\u00a0the year, two parts of the pre-IPO of Private Equity Managers were successfully completed – the company is still planning to go public in Q4 2014.<\/p>\n
\u201cDuring the first six months of the year, we generated PLN 123 million more in terms of net profit than in the corresponding period in 2013.<\/em> The high growth dynamics also applies to NAV per share, which rose from PLN 12.20 to 15.70 in the first half of the year.<\/em> Considering that 95% of annual plan has already been executed in this respect, we see a good chance to exceed the assumptions for the year<\/em>,\u201d said Cezary Smorszczewski, President of the Board of MCI Management SA.<\/p>\n Key milestones in the second quarter and the first half of 2014<\/strong><\/p>\n MCI and PEManagers financial results<\/strong><\/p>\n The value of assets under management at the end of the first half of 2014 amounted to PLN 1.5 billion, i.e. 57.6% more than in the same period in 2013. Net assets equalled PLN 979.7 million, as compared to PLN 844 million at the end of the first half of 2013 (an increase by 16.1%). Net assets per share rose to PLN 15.70 as opposed to PLN 14.00 at the end of the first quarter of 2014 and PLN 12.20 at the end of 2013. The consolidated net result was PLN 214.1 million, as compared to PLN\u00a091.2 million in the same period in the preceding year (a 134.8% increase). The fund\u2019s financial results were due to an increased valuation of Invia, Frisco, Windeln, ABC Data, Netia and Private Equity Managers. The profit on asset management generated by Private Equity Managers Group until 30 June 2014 amounted to PLN 22.4 million.<\/p>\n Investments\/exits\/fundraising<\/strong><\/p>\n In the first half of the year, MCI Group executed ca. 50% of the investment plan for the year, which envisaged at least PLN\u00a0305 million for new investments until the closing of the business year. The individual investment potential of MCI after fundraising and after completing the planned investment exits in the second half of the year may amount to PLN\u00a0400\u00a0million.<\/p>\n In the first half of 2014, MCI Group acquired PLN 39 million in terms of investment revenue. This amount included dividend payments from ABC Data, Netia and Indeks. MCI\u2019s Management Board assumes that in all of 2014, funds acquired from exits will amount to between PLN 100 and 200 million, depending on the success of five exit projects which are currently underway.<\/p>\n \u201cOur ambitious plans envisage an increased scale of investment and involvement in projects with a value exceeding the initially assumed PLN 305 million.<\/em> I am delighted that our strategy is increasingly better received by investors, especially institutional ones, which is attested to by the fact that BZ WBK Asset Management now holds more than 5% of MCI\u2019s shares,\u201d said <\/em>Cezary Smorszczewski, President of the Management Board of MCI Management SA.<\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" In the first half of the year 2014, MCI Group generated a consolidated net profit of PLN 214.1 million.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"protect_children":false,"inline_featured_image":false,"footnotes":""},"categories":[56,57],"tags":[],"class_list":["post-8746","post","type-post","status-publish","format-standard","hentry","category-news","category-press-releases"],"acf":[],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n
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