Moltiply Group S.p.a. · MIL:MOL
Moltiply — Gruppo MutuiOnline — Q1 2010 Earnings Presentation
16 slides from Moltiply's earnings presentation, May 12, 2010
Slide 1: Gruppo MutuiOnline First Quarter 2010 Results
Gruppo MutuiOnline First Quarter 2010 Results 12th May 2010
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 6 June 2007 (IPO date) - 7 May 2010
gi u/ 0 100 200 300 400 500 600 700 800 900 1.000 07 lu g/ 0 ag 7 o/ 07 ot t/ 07 no v/ 07 ge n/ 08 fe b/ 08 m ar /0 m 8 ag /0 8 gi u/ 08 lu g/ 08 se t/ 08 ot t/ 08 di c/ 08 ge Volumes ('000 shares) n/ 09 fe b/ 09 ap r/ 09 m Price ag /0 9 lu g/ 0 ag 9 o/ 09 se t/ 09 no v/ 09 di c/ 09 fe b/ 10 m ar /1
Slide 5: Current shareholding structure
Current shareholding structure Shareholding structure as of 7th May 2010* Free float; 24,20% Alma Ventures**; 32,50% Treasury shares; 4,14% 360 Capital One; 2,60% Algebris Investments (UK) Stefano Rossini***; 4,32% LLP; 5,16% Parvus Asset Management (UK) LLP; Capital Research & Index Venture Growth;
Slide 6: Business portfolio
Business portfolio Broking Broking BPO BPO DIVISION DIVISION 2009: 2009: Rev. €31.7m EBIT Rev. €31.7m EBIT €20.0m €20.0m 2009: 2009: Rev. €16.2m EBIT Rev. €16.2m EBIT €1.5m €1.5m Multi-brand Multi-brand Multi-brand Multi-brand Multi-brand Multi-brand Employee Employee broking broking of of broking b
Slide 7: Q1 highlights
Q1 highlights Revenues EBIT (€m) (€m) 6 5.0 4.8 Y-o-Y +4.3% 14 3 12 11.4 Y-o-Y 11.4 0.2% 10 0 Q1 09 Q1 10 (a) 8 EBIT EBIT margin margin 43% 43% 44% 44% 6 Net Income* 4 (€m) 2 4 3.5 3.2 Y-o-Y +8.4% 0 Q1 09 Q1 10 2 0 Q1 09 Q1 10 NI NI margin margin 28% 28% 31% 31% Note: (a) EBIT at Group level, Includ
Slide 8: Segment reporting
Segment reporting Revenues EBIT (€m) (€m) 6 Y-o-Y 5.3 4.8 +10% 14 4 5.0 Y-o-Y 11.4 Y-o-Y 11.4 4.1 +21% 12 0.2% 2 Y-o-Y 0.7 0.3 -54% 10 0 Q1 09 Q1 10 8 7.5 Y-o-Y 7.3 +3% Broking Division BPO Division 6 4 EBIT margin 3.8 Y-o-Y 4.1 -6% 2 Q1 Q1 2009 2009 2009 2009 Q1 Q1 2010 2010 0 Broking Broking Divis
Slide 9: Broking Division business update
Broking Division business update •During •During Q1 Q1 2010, 2010, revenues revenues of of the the Broking Broking Division Division remained remained substantially substantially stable stable vs vs Q1 Q1 2009, 2009, while while the the operating margin increased. This situation is due to the growth
Slide 10: BPO Division business update
BPO Division business update •During •During Q1 Q1 2010 2010 the the recovery recovery of of the the BPOBPO Divisions Divisions continues, continues, even even ifif the the results results remain remain significantly significantly below below thosethose of of Q1Q1 2009. 2009. ItIt isis worth worth h
Slide 11: Evolution of the Italian Residential Mortgage Market
Evolution of the Italian Residential Mortgage Market Residential mortgage flows Euro billion Y-o-Y -10% 70 •Assofin - an industry association that 62,9 62,8 gathers and publishes detailed data 60 56,5 56,2 relative to the main lenders - reported 50,9 a mortgage flows contraction of 6.9% 50 for FY200
Slide 12: Evolution of the Italian Real Estate Market
Evolution of the Italian Real Estate Market Number of residential real-estate transactions Thousands of transactions Y-o-Y -11.3% 900 845 833 815 800 687 700 609 600 500 •According to Land Agency, average prices in 2009 slightly 400 decreased in real terms vs. 2008. 300 200 100 0 2005A 2006A 2007A 2
Slide 13: Back-ups
Back-ups arr
Slide 14: Evolution of regulatory framework
Evolution of regulatory framework •On •On MayMay 4,4, 2010 2010 thethe Ministry Ministry of of Economy Economy and and Finance Finance on on its its website website published published a a consultation consultation document document containing containing the the text text of of the the implementatio
Slide 15: Quarterly Profit & Loss
Quarterly Profit & Loss (€000) (€000) Q1 Q1 2010 2010 Q4 Q4 2009 2009 Q3 Q3 2009 2009 Q2 Q2 2009 2009 Revenues 11,386 13,590 10,618 12,304 Other income 159 145 110 65 Capitalization of internal costs 77 101 76 96 Services costs (2,738) (3,000) (2,800) (3,080) Personnel costs (3,173) (3,812) (2,768)
Slide 16: 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