Slide 1: Financial results Q1 2014
Financial results Q1 2014 Reinhard Loose, CFO 15th May 2014
Slide 2: Agenda
Agenda • Highlights Q1 2014 • Key financial figures Q1 2014 • New business, consultants and clients • Outlook and summary • Questions and Answers MLP Q1 2014 Financial Results Page 2
Slide 3: Highlights Q1 2014
Highlights Q1 2014 • Total revenue increases by 3 percent to € 119.8 million, EBIT rises by 10 percent to € 4.4 million • Positive early indicators for future revenue development – despite the continuingly difficult market environment • 20 percent increase in new clients (Q1 2014: 6,000, Q1 2013: 5,
Slide 4: Agenda
Agenda • Highlights Q1 2014 • Key financial figures Q1 2014 • New business, consultants and clients • Outlook and summary • Questions and Answers MLP Q1 2014 Financial results Page 4
Slide 5: Total revenue: € 119.8 million
Total revenue: € 119.8 million Total revenue in Q1 [in € million] 150 116.4 119.8 100 106.4 107.1 112.3 112.8 50 Revenue Revenue: commissions and fees Interest income 5.9 5.8 Other revenue 4.1 7.0 0 Q1 2013 Q1 2014 MLP Q1 2014 Financial results Page 5
Slide 6: Old-age provision, wealth management and non-life insurance slightly above the previous year
Old-age provision, wealth management and non- life insurance slightly above the previous year Revenue [in € million] Q1 2013 Q1 2014 Δ in % Old-age provision 38.9 40.1 3 Wealth management 31.7 32.6 3 Health insurance 13.9 11.4 -18 Non-life insurance 18.2 18.8 3 Loans and mortgages* 2.9 2.9 0 Other c
Slide 7: MLP benefits from broad-based business model
MLP benefits from broad-based business model Revenue from commissions and fees Q1 2014: € 107.1 million (€ 106.4 million) 3% 1% (3%) (1%) 18% Old-age provision (17%) Wealth management 37% (37%) Health insurance Non-life insurance 11% (13%) Loans and mortgages Other commissions and fees 30% (30%) MLP
Slide 8: EBIT rises by 10 percent to € 4.4 million
EBIT rises by 10 percent to € 4.4 million Income Statement [in € million] Q1 2013 Q1 2014 Total revenue 116.4 119.8 Administration costs of € 63.5 million in EBIT 4.0 4.4 Q1 slightly above the previous year due Finance cost 0.1 0.0 to one-off exceptional costs. EBT 4.1 4.4 Around € 0.6 million o
Slide 9: Strong balance sheet
Strong balance sheet MLP Group [in € million] 31/12/2013 31/03/2014 Intangible assets 155.3 156.3 Financial investments 146.1 180.7 • Core capital ratio of Cash or cash equivalents 46.4 35.9 13.8% still at a high level – but decreased due to Other receivables and other assets 109.2 98.2 Basel III re
Slide 10: Agenda
Agenda • Highlights Q1 2014 • Key financial figures Q1 2014 • New business, consultants and clients • Outlook and summary • Questions and Answers MLP Q1 2014 Financial results Page 10
Slide 11: New business in old-age provision rises by 15 percent to € 630 million
New business in old-age provision rises by 15 percent to € 630 million Assets under Management Premium sum: old-age provision [in € billion] [in € million] 26 24.5 24.4 24 700 21.7 630 22 600 20 550 18 500 16 14 400 12 10 300 31/03/2013 31/12/2013 31/03/2014 Q1 2013 Q1 2014 MLP Q1 2014 Financial res
Slide 12: New client acquisition up 20 percent on previous year
New client acquisition up 20 percent on previous year Consultants New clients (gross) 2250 2,250 7.000 7,000 6,000 1,998 1,979 2000 2,000 5.500 5,500 5,000 1750 1,750 4.000 4,000 1500 1,500 2.500 2,500 1,250 1250 1,000 1000 1.000 1,000 31/12/2013 31/03/2014 Q1 2013 Q1 2014 MLP Q1 2014 Financial resu
Slide 13: Agenda
Agenda • Highlights Q1 2013 • Key financial figures Q1 2013 • New business, consultants and clients • Outlook and summary • Questions and Answers MLP Q1 2014 Financial results Page 13
Slide 14: Base scenario still sees rise in EBIT to € 65 million in 2014
Base scenario still sees rise in EBIT to € 65 million in 2014 Outlook Administration costs Revenue [in € million] *adjusted for one-off exceptional costs in comparison to the previous year 2014: includes € 6 million of temporary expenses for 2014 2015 investments in the future Revenue Old-age Provis
Slide 15: Significant increase in earnings expected in all scenarios
Significant increase in earnings expected in all scenarios Outlook Environment Assumptions EBIT Upper Significant • Hesitancy towards capital market-related provision products largely disappears Scenario improvement in • Health insurance develops very positively throughout the market the market ~ €
Slide 16: Summary
Summary • MLP continues to benefit from the new breadth of the business model • Framework conditions remain challenging – particularly in health insurance and old-age provision • First signs of pick-up in old-age provision as well as revenue growth in wealth management and in non-life insurance • Go
Slide 17: Agenda
Agenda • Highlights Q1 2014 • Key financial figures Q1 2014 • New business, consultants and clients • Outlook and summary • Questions and Answers MLP Q1 2014 Financial results Page 17
Slide 18: Contact
Contact MLP Corporate Communications Alte Heerstr. 40 69168 Wiesloch Germany Jan Berg, Head of Corporate Communications Andreas Herzog, Teamhead Investor Relations and Financial Communications Tel.: +49 (0) 6222 308 8310 Fax: +49 (0) 6222 308 1131 investorrelations@mlp.de www.mlp-ag.com MLP Q1 2