A strong year for container ship earnings is leading German investment house MPC Capital to start up dividends for shareholders.
Profit before tax for 2021 came in at the upper end of expectations at €10.4m ($11.6m), up from €1.3m in 2020, the company said.
Operations gained further momentum in a successful fourth quarter.
“In particular, the continued strong market environment in container shipping, as well as successful transactions in the real estate sector, provided additional momentum in the final phase,” it said.
Consolidated revenue came in at €42.3m, down from €50.5m in 2020, due to adjustments in the group structure to ensure proportionate accounting of joint venture companies.
“Against the backdrop of a significantly increased mid-term earnings visibility, the management board intends to start paying dividends,” MPC said.
This will be proposed at the annual general meeting on 27 April, but no final figure has yet been decided.
MPC Capital has stakes in a mixed fleet worth just over $1bn, according to VesselsValue.
The company has a 15% holding in feeder specialist MPC Container Ships, with 67 ships, and controls 96 more boxships in a joint venture with Zeaborn, Harper Petersen.
A further four boxships are listed with 50:50 joint venture Wilhelmsen Ahrenkiel Ship Management.
Then there are six bulkers owned through AVB Ahrenkiel Vogemann Bolten and five product tankers at Barber Ship Management, in which MPC has a 20% stake.
Significant improvement in the profit margin is expected for 2022, MPC said, and pre-tax earnings are predicted to come in between €8m and €12m.
