Moltiply Group S.p.a. · MIL:MOL
Moltiply — Gruppo MutuiOnline — Q1 2012 Earnings Presentation
14 slides from Moltiply's earnings presentation, May 14, 2012
Slide 1: Gruppo MutuiOnline First Quarter 2012 Results
Gruppo MutuiOnline First Quarter 2012 Results 14th May 2012
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 Chairman and Head of Broking Division •Founder and key shareholder (16.25% indirectly through Alma Ventures SA) •Background in consulting (McKinsey) and banking (Morgan Stanley) •Degrees in Electrical Engineering and Computer Science, MBA from MIT Marco Pescarmona •Group CEO
Slide 4: Share performance 6th June 2007 (IPO date) – 10th May 2012
Share performance 6th June 2007 (IPO date) – 10th May 2012 MOL Total Return vs. MOL vs.FTSE ITALIA STAR 15% 10% 5% 0% -5% -10% -15% -20% -25% -30% -35% -40% -45% -50% -55% -60% -65% -70% 06/07 09/07 12/07 03/08 06/08 09/08 12/08 03/09 06/09 09/09 12/09 03/10 06/10 09/10 12/10 03/11 06/11 09/11 12/11
Slide 5: Current shareholding structure
Current shareholding structure Shareholding structure as of 14th May 2012* Treasury shares, 5.60% Alma Ventures**, 32.50% Free float, 23.28% Frankfurter Aktienfonds für Stiftungen, 2.09% 360 Capital One, 2.60% Investoren TGV, 11.19% Stefano Rossini, 4.11% Parvus Asset Index Ventures Management (UK)
Slide 6: Business portfolio
Business portfolio Broking BPO DIVISION 2011: Rev. €41.9m EBIT €23.7m 2011: Rev. €29.9m EBIT €7.2m Multi-brand Multi-brand Multi-brand Mortgage Employee Multi-brand Remote broking of broking of broking of underwriting loan insurance mortgage and BUSINESS mortgages consumer mortgages and closing unde
Slide 7: Q1 highlights
Q1 highlights Revenues EBIT (€m) (€m) 6 5.4 18 Y-o-Y 4 -80.0% 15.8 Y-o-Y 2 1.1 -38.7% 0 12 Q1 11 Q1 12 9.7 EBIT margin 34% 11% 6 Net Income* (€m) 6 3.8 0 4 Q1 11 Q1 12 Y-o-Y -82.5% 2 0.7 0 Q1 11 Q1 12 NI margin 24% 7% * Attributable to the shareholders of the Issuer 7
Slide 8: Q1 Segment reporting
Q1 Segment reporting Revenues EBIT (€m) (€m) 6 5.4 18 Y-o-Y 15.8 4 -80.0% 4.2 Y-o-Y -65.7% Y-o-Y 2 1.1 -38.7% 1.2 1.4 9,1 0 Y-o-Y 12 9.0 -0.3 -129.1% 9.7 -2 Q1 11 Q1 12 Broking Division BPO Division 4.5 Y-o-Y 6 -49.7% EBIT margin 6.8 5.2 Y-o-Y -24.1% Q1 2011 2011 Q1 2012 0 Q1 11 Q1 12 Broking Divisi
Slide 9: Broking Division business update
Broking Division business update • As regards mortgage broking, during the first four months of 2012, the contraction in the number of received applications is in line with the trends of the market. Conversion rates and average commissions are also subject to slight decreases, linked to the lower cr
Slide 10: BPO Division business update
BPO Division business update • As expected, revenues of the BPO Division decreased sharply in Q1 2012 (-24.1% relative to Q1 2011), driving an operating loss, because of the partial short term rigidity of the cost base. • To fully understand the key economic parameters of the Division, one should co
Slide 11: Appendix
ine “o> ere) MutuiOnl oa Grup Appendix
Slide 12: Q1 Profit & loss
Q1 Profit & loss (€000) Q1 2012 Q1 2011 % Var. Rev enues 9,685 15,793 -38.7% Other income 255 109 133.9% Capitalization of internal costs 130 68 91.2% Serv ice costs (3,355) (5,247) -36.1% Personnel costs (4,795) (4,259) 12.6% Other operating costs (485) (782) -38.0% Depreciation and amortization (3
Slide 13: Quarterly Profit & loss
Quarterly Profit & loss (€000) Q1 2012 Q4 2011 Q3 2011 Q2 2011 Q1 2011 Rev enues 9,685 19,514 16,083 20,445 15,793 Other income 255 175 122 217 109 Capitalization of internal costs 130 142 90 158 68 Serv ice costs (3,355) (4,377) (4,485) (5,021) (5,247) Personnel costs (4,795) (5,263) (4,050) (5,562
Slide 14: 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