Moltiply Group S.p.a. · MIL:MOL
Moltiply — Gruppo MutuiOnline — Q3 2012 Earnings Presentation
18 slides from Moltiply's earnings presentation, Nov 14, 2012
Slide 1: Gruppo MutuiOnline Third Quarter 2012 Results
Gruppo MutuiOnline Third Quarter 2012 Results 14th November 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) - 12th November 2012
Share performance 6th June 2007 (IPO date) - 12th November 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% 4
Slide 5: Current shareholding structure
Current shareholding structure Shareholding structure as of 14th November 2012* * Share ownership as communicated to the company by relevant investors according to CONSOB regulations; includes all investors above 2% ownership threshold. ** The share capital of Alma Ventures S.A. is owned 50% by Gude
Slide 6: Business portfolio
Business portfolio Broking BPO DIVISION 2011: Rev. € 41.9m EBIT € 23.7m 2011: Rev. € 29.9m EBIT € 7.2m H1 2012: Rev. € 9.4m EBIT € 3.1m H1 2012: Rev. € 10.3m EBIT € -0.3m Multi-brand Multi-brand Multi-brand Multi-brand Employee broking of broking of broking of Remote Mortgage insurance loan BUSINESS
Slide 7: Q3 highlights
Q3 highlights Revenues EBIT (€m) (€m) 6.9 Y-o-Y -98.3% 16.1 0.1 Y-o-Y -48.0% EBIT margin 43% 1% 8.4 Net Income* (€m) 4.6 Y-o-Y -88.4% 0.5 NI margin 29% 6% * Attributable to the shareholders of the Issuer 7
Slide 8: Q3 Segment reporting
Q3 Segment reporting Revenues EBIT (€m) (€m) 6.9 Y-o-Y 5.0 -98.3% Y-o-Y 16.1 -101.4% 0.1 1.9 0.2 Y-o-Y 9.1 Y-o-Y -48.0% -0.1 -89.9% 8.4 Broking Division BPO Division 3.7 Y-o-Y -59.2% 7.0 EBIT margin 4.7 Y-o-Y -33.7% Q3 2011 2011 Q3 2012 Broking Division 55% 57% -2% BPO Division 27% 24% 4% Broking Di
Slide 9: 9M highlights
9M highlights Revenues EBIT (€m) (€m) 21.2 52.3 Y-o-Y -86.3% Y-o-Y 2.9 -46.4% 28.0 EBIT margin 41% 10% Net Income* (€m) 14.3 Y-o-Y -83.7% 2.3 NI margin 27% 8% * Attributable to the shareholders of the Issuer 9
Slide 10: 9M Segment reporting
9M Segment reporting Revenues EBIT (€m) (€m) 21.2 52.3 15.8 Y-o-Y -86.3% Y-o-Y 29.9 -46.4% 2.9 Y-o-Y 5.4 -80.8% 3.0 -0.1 Y-o-Y 28.0 -102.4% Broking Division BPO Division 13.0 Y-o-Y -56.4 22.4 EBIT margin 15.0 Y-o-Y -33.2% 9M 2011 2011 9M 2012 Broking Division 53% 57% 23% BPO Division 24% 24% -1% Bro
Slide 11: Evolution of the Italian residential mortgage market
Evolution of the Italian residential mortgage market • The residential mortgage market confirms the trend of strong contraction, as previously pointed out. Specifically, the number of mortgage-related credit bureau inquiries reported by CRIF, the main provider of credit bureau services in Italy, sho
Slide 12: Broking Division business update 1/2
Broking Division business update 1/2 •As regards mortgage broking, the contraction in the number of applications continues, linked to the collapse of demand affecting the whole market. The low credit appetite of some banks translates into a reduction of conversion rates and average commissions, with
Slide 13: Broking Division business update 2/2
Broking Division business update 2/2 •As regards insurance broking, despite the hard environment for the traditional activities of the Group, we decided to invest in boosting the growth of the business. In fact, during September 2012, we launched “Segugio.it – savings’ best friend” (translators’ not
Slide 14: BPO Division business update
BPO Division business update •In Q3 2012, BPO Division revenues declined in line with the trend shown in the first part of 2012, as a consequence of the macro-factors detailed earlier in the year. As already noted, the decline would have been sharper without the acquisition of Quinservizi S.p.A. and
Slide 15: Appendix
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Slide 16: Q3 Profit & loss
Q3 Profit & loss (€000) Q3 2012 Q3 2011 % Var. Rev enues 8,356 16,083 -48.0% Other income 331 122 171.3% Capitalization of internal costs 125 90 38.9% Serv ice costs (4,011) (4,485) -10.6% Personnel costs (3,964) (4,050) -2.1% Other operating costs (378) (552) -31.5% Depreciation and amortization (3
Slide 17: Quarterly Profit & loss
Quarterly Profit & loss (€000) Q3 2012 Q2 2012 Q1 2012 Q4 2011 Q3 2011 Rev enues 8,356 9,987 9,685 19,514 16,083 Other income 331 369 255 175 122 Capitalization of internal costs 125 162 130 142 90 Serv ice costs (4,011) (3,183) (3,355) (4,377) (4,485) Personnel costs (3,964) (4,783) (4,795) (5,263)
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