Moltiply Group S.p.a. · MIL:MOL
Moltiply — Gruppo MutuiOnline — Q4 2011 Earnings Presentation
19 slides from Moltiply's earnings presentation, Mar 14, 2012
Slide 1: Gruppo MutuiOnline Fourth Quarter 2011 Results
Gruppo MutuiOnline Fourth Quarter 2011 Results 14th March 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 •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) – 13th March 2012
Share performance 6 June 2007 (IPO date) – 13th March 2012 2.000 6,5 1.900 1.800 6,0 1.700 1.600 5,5 1.500 1.400 5,0 1.300 1.200 4,5 1.100 1.000 4,0 900 800 3,5 MOL Total Return vs. MOL vs.FTSE ITALIA STAR 700 15% 600 3,0 10% 500 5% 400 2,5 0% 300 -5% 200 2,0 -10% 100 -15% 0 1,5 -20% 06/07 09/07 12/
Slide 5: Current shareholding structure
Current shareholding structure Shareholding structure as of 13th March 2012* Treasury shares; 5,60% Alma Vent ures**; Free float; 23,07% 32,50% Frankurt er Akt ienfonds für St ift ungen; 2,09% 360 Capit al One; 2,60% Invest oren TGV; 11,19% St efano Rossini; 4,32% Parvus Asset Index Ventures Managem
Slide 6: Business portfolio
Business portfolio Broking Broking BPO BPO DIVISION DIVISION 2011: 2011: Rev. €41,9m EBIT Rev. €41,9m EBIT €23,7m €23,7m 2011: 2011: Rev. €29,9m EBIT Rev. €29,9m EBIT €7,2m €7,2m Multi-brand Multi-brand Multi-brand Multi-brand Multi-brand Multi-brand Remote Remote Mortgage Mortgage Employee Employee
Slide 7: Full-year Highlights
Full-year Highlights Revenues EBIT (€m) (€m) 36 30,9 30 Y-o-Y 71,8 24 22,0 +40.2% 70 18 Y-o-Y +34.4% 12 60 6 53,4 0 50 2010 2011 40 EBIT EBIT margin margin 41% 41% 43% 43% 30 Net Income* 20 (€m) 25 10 21,0 Y-o-Y 20 15,5 +35.5% 0 15 2010 2011 10 5 0 2010 2011 EBIT EBIT margin margin 29% 29% 29% 29% *
Slide 8: Performance by Division
Performance by Division Revenues EBIT (€m) (€m) 36 30,9 30 Y-o-Y 71,8 24 22,0 +40.2% 70 23,7 Y-o-Y Y-o-Y 18 +27.3% +34.4% 18,6 60 12 53,4 6 Y-o-Y Y-o-Y +110.7% 3,4 7,2 50 41,9 +27.8% 0 2010 2011 40 32,8 Broking Division BPO Division 30 20 Y-o-Y EBIT margin 29,9 +45.1% 10 20,6 2010 2010 2011 2011 0 2
Slide 9: Historical Revenue Trends
Historical Revenue Trends Broking Division Revenues (€m) CAGR 41,9 Group Revenues 40 +27% 7% 32,8 5% (€m) 31,7 2% 5% 24% 30 27,8 11% 22,7 12% 32% 32% 11% 71,8 20 12,7 31% 18% 70 64% 6% 18% 61% 61% 10 71% 60 CAGR 57% +27% 76% 53,4 58% 0 50 46,3 47,9 2006A 2007A 2008A 2009A 2010A 2011A 40 37,7 MutuiOn
Slide 10: Historical Profitability
Historical Profitability EBIT (€m) EBIT margin (%) 36 CAGR 30,9 70% +29% 59% 61% 63% 30 60% 57% 57% 24 21,9 20,9 22,0 50% 45% 17,6 77% 40% 47% 43% 18 47% 44% 39% 41% 84% 30% 12 78% 24% 8,5 76% 93% 20% 31% 28% 26% 9% 6 67% 10% 17% 23% 33% 24% 22% 7% 16% 0% 0 2006A 2007A (a) 2008A 2009A (b) 2010A 2011
Slide 11: Evolution of the Italian residential mortgage market (1/2)
Evolution of the Italian residential mortgage market (1/2) •• The The Italian Italian residential residential mortgage mortgage market market has has progressively progressively deteriorated deteriorated since since September September 2011, 2011, leading leading to to a a deep deep contraction cont
Slide 12: Evolution of the Italian residential mortgage market (2/2)
Evolution of the Italian residential mortgage market (2/2) •• On On the the demand demand side, side, we we observe observe a a sharp sharp contraction, contraction, caused caused by by a a set set of of factors factors including: including: consumer consumer concerns concerns about about their thei
Slide 13: Broking Division business update
Broking Division business update •• The The financial financial year year ended ended December December 31,31, 2011 2011 witnessed witnessed aa strong strong improvement improvement of of the the results results of of the the Broking Broking Division, Division, mainly mainly thanks thanks to to the
Slide 14: BPO Division business update
BPO Division business update •• The The BPO BPO Division Division achieved achieved strong strong growth growth in in 2011, 2011, both both inin terms terms of of revenues revenues and and profitability, profitability, with the operating margin reaching 24.1% in 2011 (compared to 16.9% in with the o
Slide 15: Dividend Distribution
Dividend Distribution Earnings per share, consolidated Dividends per share (€) (€) 0,600 0,45 0,560 0,40 0,360 0,370 0,500 0,35 0,410 0,400 0,380 0,380 0,30 0,25 0,300 0,206 0,250 0,20 0,200 0,15 0,120 0,10 0,092 0,100 0,05 0,000 0,00 2007 2008 2009 2010 2011 may 2008 may 2009 may 2010 may 2011 may
Slide 16: Appendix
e INE MutuiOn Appendix
Slide 17: Q4 Profit & loss
Q4 Profit & loss (€000) Q4 2011 Q4 2010 % Var. Revenues 19.514 18.451 5,8% Other income 175 137 27,7% Capitalization of internal costs 142 91 56,0% Service costs (4.377) (5.629) -22,2% Personnel costs (5.263) (3.555) 48,0% Other operating costs 84 (1.465) -105,7% Depreciation and amortization (615)
Slide 18: Quarterly Profit & Loss
Quarterly Profit & Loss (€000) Q4 2011 Q3 2011 Q2 2011 Q1 2011 Q4 2010 Revenues 19.514 16.083 20.445 15.793 18.451 Other income 175 122 217 109 137 Capitalization of internal costs 142 90 158 68 91 Service costs (4.377) (4.485) (5.021) (5.247) (5.629) Personnel costs (5.263) (4.050) (5.562) (4.259)
Slide 19: 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