Mlp Se · XETR:MLP
Mlp — Berenberg Goldman Sachs German Corporate Conference 2018
34 slides from Mlp's conference presentation, September 2018
Slide 1: The MLP Group – The partner for all financial matters
The MLP Group – The partner for all financial matters , Company presentation
Slide 2: The MLP Group agenda
The MLP Group 1. MLP at a glance 2. Strategy 3. Key Financials & Outlook 4. Appendix Page 2 Management Roadshow
Slide 3: The MLP Group at a glance
The MLP Group at a glance The MLP Group The Partner for all financial matters | Private Clients – Corporate Clients – Institutional Investors DOMCURA AG MLP Finanzberatung SE MLP Banking AG FERI AG TPC GmbH The underwriting agency, The investment expert for The specialist in focusing on private and
Slide 4: MLP Group – An overview
MLP Group – An overview Main business areas MLP Share Clients % of Rev. Old-age provision Shares outstanding: 109,334,686 35% ~ 535,100 private clients (families - i.e. physicians, solicitors, engineers Wealth FY 2017 32% Free Float: 49.81% (Definition on HY 2018 and economists) Management the Germa
Slide 5: Attractive dividend policy & stable shareholder structure
Attractive dividend policy & stable shareholder structure 11.8% Pay-out Pay-out ratio: Return on ratio: 64% 50% - 70% of net profit dividend: 6.4% Dividend policy Profit retention required for: * influenced by one- 4.0% 3.1% 4.6% 3.6% 3.3% - Acquisitions off expenses 1.9%* - Capital expenditure - Ca
Slide 6: Market environment – Fundamental changes taking place
Market environment – Fundamental changes taking place Demographics Client behaviour • Rising life expectancy and low birth rate - • Still fundamental scepticism towards the ageing society financial industry • Increasing pressure on state social • Quick and inexpensive information welfare systems pos
Slide 7: Regulation – significant increase in consolidation within the market
Regulation – significant increase in consolidation within the market due to Life Insurance Reform Act (LVRG) Shrinking Number of insurance Effects of the Life Insurance Reform Act / intermediaries in Germany Evaluation 2018 (LVRG) 280.000 , • Quality of consultancy and portfolio is even more importa
Slide 8: The MLP Group agenda: Strategy
The MLP Group 1. MLP at a glance 2. Strategy 3. Key Financials & Outlook 4. Appendix Page 8 Management Roadshow
Slide 9: Successful strategic diversification over the last years
Successful strategic diversification over the last years Occupational pension provision Clear business model Wealth management Real estate Expansion of non-life insurance 2004 2005 2006 2011 2015 Foundation of Occupational Sale of own MLP buys shares in FERI AG Start of real estate portfolio Acquisi
Slide 10: Strategic agenda 2018
Strategic agenda 2018 1 2 3 Continued cost Strategic focus Organic growth Inorganic growth management • Strengthening of the university segment The MLP group continues to • Structural reduction of the cost base in the private client business: target acquisitions and is open for continued in 2017 – o
Slide 11: Private client business – strengthening the university segment
Private client business – strengthening the university segment Number of academics in active employment million • Increasing potential for MLP in the university segment 10.8 10.2 8.6 • Measures of the last few years are having an impact, 7.1 particularly the introduction of a training allowance for
Slide 12: Strengthening of the university segment displaying initial successes
Strengthening of the university segment displaying initial successes Number of university teams 25 + 63 % 20 + 2.3 % Number of 15 Consultants: 520,000 consultants 10 net growth 5 480,000 0 Client base: Number of Q4 2016 Q4 2017 new clients family clients 440,000 40 20 New consultants 0 400,000 Numbe
Slide 13: Further broadening of revenue basis in 2018
Further broadening of revenue basis in 2018 DOMCURA: Positioning as a 3% (2%) 3% (1%) premium provider for brokers, new target group concepts MLP private client business: 19% (4%) Central market topic of retirement planning – pronounced age- MLP private client business: related increase in demand in
Slide 14: Accelerated implementation of digitalisation strategy
Accelerated implementation of digitalisation strategy Scan app for Digital Digital contracts policy budget portfolio issuing book Contract transferrals overview MLP Online Performance Chatbot Electronic Further policy financify Marketing „Finn-Bot“ signature consulting sales applications Core activi
Slide 15: MLP cooperates with start-ups and fintechs
MLP cooperates with start-ups and fintechs Client portal Performance marketing Motor vehicle Online policy sales online calculator Leadmanagement Joint venture MLP Hyp Contract overview e-signature Page 15 Management Roadshow
Slide 16: Digital solutions supporting clients and client consultants
Digital solutions supporting clients and client consultants Consulting application Smart client application Page 16 Management Roadshow
Slide 17: Broader leeway for the Group
Broader leeway for the Group Realigned Group structure/banking services Increased free equity capital In € million MLP SE 450 400 MLP MLP Banking FERI AG Finanzberatung DOMCURA AG nordias GmbH AG SE 350 300 Banking services for MLP clients Internal 250 200 Offer of mortgage loans through brokers at
Slide 18: The MLP Group agenda: Key Financials & Outlook
The MLP Group 1. MLP at a glance 2. Strategy 3. Key Financials & Outlook 4. Appendix Page 18 Management Roadshow
Slide 19: H1 2018: Total revenue up 3 percent over previous year
H1 2018: Total revenue up 3 percent over previous year Revenue In € million 300.6 310.6 H1 2017 H1 2018 in % Old-age provision 77.2 76.2 -1.3 295.2 281.3 Wealth management 92.1 97.5 5.9 Non-life insurance 72.3 77.3 6.9 304.0 291.6 Health insurance 22.7 23.2 2.2 Loans and mortgages* 7.7 8.9 15.6 Re
Slide 20: H1 2018: Total revenue constantly expanded
H1 2018: Total revenue constantly expanded Total revenue Q2 and H1 In € million 350 310.6 300.6 300 287.3 283.6 273.2 246.6 240.1 244.9 250 231.4 232.8 233.7 226.9 219.6 224.3 200 137.6 142.7 150 127.5 129.1 131.3 111.2 116.8 111.6 109.3 112.2 115.0 105.9 107.9 108.1 100 50 Q2 H1 0 2005 2006 2007 20
Slide 21: H1 2018: Broadening of the revenue base successfully continued
H1 2018: Broadening of the revenue base successfully continued Commission income in the first half-year (all fields, excluding old-age provision) In € million 300 250 219.0 204.2 183.8 200 143.3 150 121.1 121.2 110.8 111.0 90.2 80.6 100 50 0 H1/2009 H1/2010 H1/2011 H1/2012 H1/2013 H1/2014 H1/2015 H1
Slide 22: H1 2018: Assets under Management reach record level
H1 2018: Assets under Management reach record level AuM MLP Group In € billion 35.4 35 33.9 31.5 30 29.0 27.5 24.5 25 21.2 19.8 20.2 20 17.0 15 14.0 10 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 H1 2018 In each case as of December, 31, except H1 2018 Page 22 Management Roadshow
Slide 23: H1 2018: EBIT at € 12.1 Mio.
H1 2018: EBIT at € 12.1 Mio. Income Statement In € million Q2 2017 Q2 2018 H1 2017 H1 2018 Total revenue 137.6 142.7 300.6 310.6 H1 2018 12.1 Operating EBIT* 2.7 -1.0 15.9 12.1 H1 2017 14.5 EBIT 2.1 -1.0 14.5 12.1 H1 2016 7.7 Finance cost -0.1 0.0 -0.6 -0.4 H1 2015 8.1 EBT 1.9 -0.9 13.9 11.7 H1 2014
Slide 24: H1 2018: Stable balance sheet
H1 2018: Stable balance sheet In € million Assets Dec 31, 2017 June 30, 2018 Equity ratio: 17.7 % Intangible assets 161.8 158.7 Financial assets 158.5 149.9 Core capital ratio: 17.4 % Receivables from clients in the banking business 702.0 722.4 Receivables from banks in the banking business 634.2 67
Slide 25: H1 2018: Net liquidity of around € 209 million
H1 2018: Net liquidity of around € 209 million In € million 2.500 2.000 138 1.500 1.548 1.399 1.399 1.000 500 83 83 83 195 332 332 332 332 404 209 209 0 Cash and cash Financial investments <1 Receivables from banking Other receivables Liabilities due to the Short-term liabilities and Net liquidity e
Slide 26: H1 2018: Number of family clients increases to 535,100
H1 2018: Number of family clients increases to 535,100 Family clients Client consultants 535.100 2.000 1.940 529.100 1.909 530.000 1.895 1.883 1.890 1.880 517.400 510.200 510.000 1.750 490.000 1.500 470.000 FY 2016 Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 2015 2016 2017 H1 2018 Gross Strengthening th
Slide 27: Outlook for the financial year 2018
Outlook for the financial year 2018 Qualitative assessment of revenue development Earnings trend In € million Revenue 2018 50 46.7* Old-age provision + 9.1 40 35.1* Wealth management 0 30.7 Health insurance 0 30 15.4 Non-life insurance + 20 37.6 Loans and mortgages 0 10 19.7 Real estate brokerage ++
Slide 28: Summary
Summary Targets achieved in 2017 – MLP is benefiting from the strategic further development of the last few years. Transformation of MLP continues in 2018. In focus: further digitalisation, further diversification of the revenue basis, as well as strengthening the university segment. MLP laid
Slide 29: The MLP Group agenda: Appendix
The MLP Group 1. MLP at a glance 2. Strategy 3. Key Financials & Outlook 4. Appendix Page 29 Management Roadshow
Slide 30: Realigned Group structure: new segments
Realigned Group structure: new segments Previous structure (segments*) Current structure (segments*) Financial Finanzdienst- FERI DOMCURA Banking FERI DOMCURA Consulting leistungen Old-age provision x x Wealth management x x x x Non-life insurance x x x x Health insurance x x Loans and mortgages x x
Slide 31: Sharper focus on university segment
Sharper focus on university segment MLP sales organisation Previous model: Since July 1, 2017: Consultant Consultant <6 years with MLP >6 years with MLP 4 divisional board 1 divisional board 4 divisional board members member members Regional manager Office managers Office managers (employed) Head of
Slide 32: DOMCURA: Underwriting agency selects the appropriate insurer
DOMCURA: Underwriting agency selects the appropriate insurer from the marketplace Consultancy Underwriting agency Insurers (Sales commission) (Administration and additional (Risk margin) sales commission) disbursement Product sales Risk carrying Application Collection/ Contract Claim Claim Consultin
Slide 33: FY 2017: dividend of 20 cents per share
FY 2017: dividend of 20 cents per share Dividend per share In € cents 20 20 Compensation for 17 4 one-off expenses MLP participation programme 16 associated with further optimisation 15 of the Group • Implementation on a share basis for 12 structure MLP branch managers and consultants 10 8 16 • Furt
Slide 34: FY 2017: Significant increase in equity
FY 2017: Significant increase in equity In € million Approx. 400 Adjustment of the supervisory focus 1 € 27 million DOMCURA, ZSH and TPC are no longer included in the supervisory scope of consolidation 350 Spinning off brokerage activities Approx. 2 300 Within the scope of spinning off the brokerage
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