Moltiply Group S.p.a. · MIL:MOL
Moltiply — Gruppo MutuiOnline — H1 2009 Earnings Presentation
18 slides from Moltiply's earnings presentation, Aug 7, 2009
Slide 1: Gruppo MutuiOnline First Half 2009 Results
Gruppo MutuiOnline First Half 2009 Results 7th August 2008
Slide 2: Disclaimer
Disclaimer Certain statements contained herein are statements of future expectations and other forward-looking statements. These expectations are based on management's current views and assumptions and involve known and unknown risks and uncertainties. The user of such information should recognize t
Slide 3: Presenters today
Presenters today •Group •Group Chairman Chairman and and Head Head of of Broking Broking Division Division •Founder •Founder and and key key shareholder shareholder (16.25% (16.25% indirectly indirectly through through Alma Alma Ventures Ventures SA) SA) •Background •Background in in consulting cons
Slide 4: Share performance June 2007 (IPO date) - August 2009
Share performance 6 June 2007 (IPO date) - 3 August 2009 1.000 6,5 900 6,0 800 5,5 MOL performance vs. FTSE ITALIA STAR 700 5,0 0,10 0,05 600 4,5 0,00 -0,05 -0,10 500 4,0 -0,15 -0,20 -0,25 -0,30 400 3,5 -0,35 -0,40 -0,45 300 3,0 -0,50 -0,55 -0,60 200 2,5 -0,65 7 07 07 7 07 8 8 8 8 8 08 8 8 8 9 9 09
Slide 5: Current shareholding structure
Current shareholding structure Shareholding structure as of 3 August 2009* Treasury Shares; 3,60% Free Float; 24,40% Alma Ventures**; 32,50% 360 Capital One; 2,60% Index Venture Growth; 2,89% Stefano Rossini***; 4,32% Capital Research & Nestor 2000****; 11,37% Management; 8,00% Parvus Asset Ventures
Slide 6: Business portfolio
Business portfolio Broking Broking BPO BPO DIVISION DIVISION 2008: 2008: Rev. €27.8m EBIT Rev. €27.8m EBIT €17.1m €17.1m 2008: 2008: Rev. €18.5m EBIT Rev. €18.5m EBIT €4.8m €4.8m H1 H1 2009: 2009: Rev. Rev. €15.5m €15.5m EBIT EBIT €9.2m €9.2m H1 H1 2009: 2009: Rev. Rev. €8.2m €8.2m EBIT EBIT €1.0m €
Slide 7: H1 highlights
H1 highlights Revenues EBIT (€m) (€m) 15 Y-o-Y 12 +4% 10.2 28 9.8 9 Y-o-Y 23.7 +12% 6 24 21.2 3 20 0 H1 08 H1 09 16 EBIT EBIT margin margin 46% 46% 43% 43% 12 Net Income 8 (€m) 4 9 Y-o-Y 7.2 6.3 +14% 0 6 H1 08 H1 09 3 0 H1 08 H1 09 NI NI margin margin 30% 30% 31% 31% 7
Slide 8: Segment reporting
Segment reporting Revenues EBIT (€m) (€m) 15 Y-o-Y 12 +4% 10.2 28 9.8 9 Y-o-Y Y-o-Y +12% 23.7 6 9.2 +34% 24 6.8 21.2 3 Y-o-Y 3.0 -66% 20 0 1.0 Y-o-Y H1 08 H1 09 15.5 16 +36% 11.4 Broking Division BPO Division 12 8 EBIT margin 9.8 Y-o-Y 4 8.2 -16% H1 H1 2008 2008 2008 2008 H1 H1 2009 2009 0 Broking B
Slide 9: Revenues breakdown
Revenues breakdown Broking Division Revenues BPO Division Revenues (€m) (€m) 20 Y-o-Y 15 +36% Y-o-Y 15.5 -16% 15 9% 11.4 9.8 10 34% 8.2 12% 10 33% 29% 33% 5 34% 5 58% 37% 58% 33% 30% 0 0 H1 08 H1 09 H1 08 H1 09 MutuiOnline PrestitiOnline CreditPanel FEC CEI CLC 9
Slide 10: Broking Division business update
Broking Division business update •As •As a a whole, whole, during during Q2 Q2 09 09 the the Broking Broking Division Division continued continued its its positive positive performance, performance, driven driven by the increase in the volume of loans brokered through by the increase in the volume o
Slide 11: BPO Division business update
BPO Division business update •As •As expected, expected, the the BPOBPO Division Division continues continues to to bebe affected affected by by a a reduction reduction of of business business activity activity volumes volumes with existing clients, mainly with respect to mortgages. This trend has i
Slide 12: Evolution of the Italian residential mortgage market
Evolution of the Italian residential mortgage market Residential mortgage flows Euro billion 16 Y-o-Y 14,22 -23% 12 10,96 • New Bank of Italy data confirms a strong contraction 8 of the residential mortgage market in Q1 2009 (-23% YoY); market contraction for FY 2008 was -10% 4 0 Q1 08 Q1 09 Source:
Slide 13: Evolution of the Italian real estate market
Evolution of the Italian real estate market Number of residential real-estate transactions Thousands of transactions 200 Y-o-Y -19% 167 150 136 • Italian Land Agency data confirms a slowdown in terms of number of residential real estate 100 transactions in Q1 2009 (-19% YoY); market contraction for
Slide 14: Appendix
INE MutuiOn Appendix
Slide 15: H1 Profit & loss
H1 Profit & loss (€000) (€000) H1 H1 2009 2009 H1 H1 2008 2008 % % Var. Var. Revenues 23.669 21.179 11,8% Other income 149 190 -21,6% Capitalization of internal costs 172 117 47,0% Services costs (6.075) (4.881) 24,5% Personnel costs (6.366) (5.659) 12,5% Other operating costs (823) (697) 18,1% Depr
Slide 16: Q2 Profit & loss
Q2 Profit & loss (€000) (€000) Q2 Q2 2009 2009 Q2 Q2 2008 2008 % % Var. Var. Revenues 12.304 11.977 2,7% Other income 65 100 -35,0% Capitalization of internal costs 96 63 52,4% Services costs (3.080) (2.655) 16,0% Personnel costs (3.247) (3.106) 4,5% Other operating costs (466) (351) 32,8% Depreciat
Slide 17: Q2 highlights
Q2 highlights Revenues EBIT (€m) (€m) 8 Y-o-Y 5.8 -8% 6 5.4 15 4 Y-o-Y Y-o-Y 4.1 5.0 12.3 +22% 12.0 +3% 12 2 Y-o-Y 1.7 0.3 -8u% 0 Q2 08 Q2 09 9 8.2 Y-o-Y 6.6 +25% Broking Division BPO Division 6 EBIT margin 3 5.4 4.1 Y-o-Y -24% Q2 Q2 2008 2008 2008 2008 Q2 Q2 2008 2008 0 Broking Broking Division Div
Slide 18: Declaration of the manager responsible for preparing the Company's financial reports
Declaration of the manager responsible for preparing the Company’s financial reports Declaration Pursuant to Art. 154/bis, Paragraph 2 – Part IV, Title III, Chapter II, Section V-bis, of Italian Legislative Decree No. 58 of 24 February 1998: “Consolidation Act on Financial Brokerage Pursuant to Arti