Mlp Se · XETR:MLP
Mlp — Non-Deal Roadshow (November 2012)
26 slides from Mlp's roadshow presentation, Nov 19, 2012
Slide 1: MLP – Company Presentation
MLP – Company Presentation Reinhard Loose, CFO Roadshow London November 19, 2012
Slide 2: Agenda
Agenda • MLP at a glance • Transformation of business model • Earnings situation / Financial details 9M 2012 • Outlook & Summary Page 2 MLP – Company Presentation
Slide 3: Corporate data at a glance
Corporate data at a glance The MLP Group y Independent financial services and wealth management consulting company y Founded in 1971 y € 545.5 million total revenue in 2011 y More than 805,000 private clients y More than 5,000 corporate clients y € 20.9 billion assets under management y 1,517 employ
Slide 4: MLP – a broad-based consulting house
MLP – a broad-based consulting house The MLP Group Private clients Institutional investors Rating and corporate clients Independent product and investment research Page 4 MLP – Company Presentation
Slide 5: Agenda
Agenda • MLP at a glance • Transformation of business model • Earnings situation / Financial details 9M 2012 • Outlook & Summary Page 5 MLP – Company Presentation
Slide 6: Independent business model and one-stop provision of lifetime financial solutions
Independent business model and one-stop provision of lifetime financial solutions Independent business model is unique in the German Market Target group focus + Quality of advice + Independence Objectives Advice Solution 25 28 31 34 35 37 40 45 52 65 Planning Old-age provision management Insurance c
Slide 7: Low average age of clients offers potential…
Low average age of clients offers potential… MLP clients by age group [in %] 30% 20% Average age of a MLP client: 41 years 10% 0% <=24 25-29 30-34 35-39 40-44 45-49 >=50 / ≤ 24 25-29 30-34 35-39 40-44 45-49 ≥n.z. 50 Page 7 MLP – Company Presentation
Slide 8: …especially in wealth management
…especially in wealth management Potential revenue per year and client Significant steps towards strengthening wealth management business [in €] 2007 2012 3,000 Registration as an New asset independent broker; depository Full banking license + pricing for MLP FDL AG 1,500 2011 0 MLP acquires remaini
Slide 9: MLP and Feri cover the whole market
MLP and Feri cover the whole market Wealth management Private banks “Very High street HNWI High street banks Clients” banks “HNWI Clients” Direct banks “Affluent Clients” Universal Product offering Niche player Page 9 MLP – Company Presentation offering
Slide 10: MLP clients benefit from Feri’s expertise
MLP clients benefit from Feri’s expertise Feri MLP - Wealth Management Private and corporate clients as well as institutional Product independent investors market assessments • Asset management • Know-how transfer • Risk overlay • Wealth consulting and advisory services • Quality control • Asset str
Slide 11: Significant revenue growth in wealth management
Significant revenue growth in wealth management FY 2005 FY 2011 (Revenue from commissions and fees: (Revenue from commissions and fees: € 467.9 million) € 498.5 million) 4% 2% 1% Old-age provision 6% 3% 1% 10% Wealth management 16% 3% Health insurance Non-life insurance Loans and mortgages 16% Other
Slide 12: Early recognition of potential in occupational pensions
Early recognition of potential in occupational pensions Studies confirm high level of interest – 2004 and now 2004: Low coverage of occupational pensions 2012: Occupational pensions remain interesting Number of Spread of Do employees* actively request information employees per occupational company p
Slide 13: Consistent expansion of the occupational pensions division
Consistent expansion of the occupational pensions division 2006 Foundation of the competence centre tax advisors /auditors 2008 2004 Further strengthening of the Foundation of occupational occupational pensions business – pensions division acquisition of TPC 2012 2004 More than 1,200 licensed Expans
Slide 14: Significant increase in the proportion of occupational pension business
Significant increase in the proportion of occupational pension business Occupation pension business as a percentage of the premium sum in the old-age provision area at MLP 13% 10% 7% 3% 2005 2007 2009 2011 Page 14 MLP – Company Presentation
Slide 15: Agenda
Agenda • MLP at a glance • Transformation of business model • Earnings situation / Financial details 9M 2012 • Outlook & Summary Page 15 MLP – Company Presentation
Slide 16: 9M: Total revenue of € 355.3 million
9M: Total revenue of € 355.3 million Total revenue in 9M [in € million] 345.3 348.8 356.5 355.3 300 305.5 208.8 313.4 322.8 319.6 221.3 330.2 332.3 343.7 340.2 200 100 24.8 18.8 20.9 20.6 15.1 16.6 12.8 15.1 0 9M 2009 9M 2010 9M 2011 9M 2012 Revenue Revenue: commissions and fees Interest income Othe
Slide 17: Considerable increase in wealth management
Considerable increase in wealth management Revenue: commissions and fees [in € million] Q3 2011 Q3 2012 Δ in % 9M 2011 9M 2012 Δ in % Old-age provision 62.7 54.9 -12 169.6 152.3 -10 Wealth management 19.0 34.5 82 59.2 83.7 41 Health insurance 15.1 13.7 -9 56.8 45.5 -20 Non-life insurance 4.2 4.1 -2
Slide 18: Difficult environment in old-age provision
Difficult environment in old-age provision Average of target/actual expenses for old-age provision per months 300 287 € 269 € 269 € 253 € 257 € Estimated requirements 248 € of old-age provision 242 € 250 226 € 209 € 204 € 198 € 202 € 200 € 188 € 188 € 200 185 € Actual expenses in old- age provision
Slide 19: MLP benefits from its holistic approach
MLP benefits from its holistic approach Revenue from commissions and fees: 9M 2012: € 319.6 million (€ 322.8 million) [in %] 3% 1% (3%) (1%) 8% Old age pension provision (8%) 48% Wealth Old-agemanagement provision 14% (53%) (18%) Wealth management Health insurance Health insurance 3,336 Non-life Non
Slide 20: Efficiency program still on track
Efficiency program still on track Development of fixed costs* [in € million] 12.4 207.2 210.9 -14.1 -3.2 -0.7 184.4 -8.5 9M 2010 9M 2011 One-offs in Personnel D&A Other 9M 2012 (reported) 9M 2011 operating (reported) expenses *Personnel, D&A, other operating expenses MLP – Company Presentation
Slide 21: Earnings situation further improved
Earnings situation further improved Income statement [in € million] Q3 2011 Q3 2012 9M 2011 9M 2012 Total revenue 116.3 121.5 356.5 355.3 y No one-offs in 9M 2012 EBIT 2.9 11.1 4.6 26.7 (9M 2011: € 14.1 million) Finance cost 0.2 -0.1 -0.5 0.2 y Efficiency program EBT 3.0 11.0 4.2 26.9 continues to b
Slide 22: Agenda
Agenda • MLP at a glance • Transformation of business model • Earnings situation / Financial details 9M 2012 • Outlook & Summary Page 22 MLP – Company Presentation
Slide 23: Reduction in fixed costs to around € 249 million
Reduction in fixed costs to around € 249 million Outlook 2012 Development of fixed costs* Development of revenue [in € million] MLP expects the weighting of the full- year revenue development to differ slightly from its expectations at the 280 279 start of the year: 273** 270 • Stronger growth in we
Slide 24: Goal 2012: Operating EBIT margin of 15 %
Goal 2012: Operating EBIT margin of 15 % MLP Group EBIT margin [in %] [%] 20 18.1 15.0 15 9.4 9.0 9.6 10 7.9 5 0 2007 2008 2009 2010 2011* 2012e** *After adjustment for one-offs **Before acquisitions and special effects MLP – Company Presentation
Slide 25: Summary
Summary • MLP benefits from its holistic approach y Targeted strengthening of the wealth management and occupational pensions business areas y Greater diversification in consulting leads to more recurring revenues • Efficiency program fully on track, realization of outstanding savings in Q4 • Contin
Slide 26: Contact
Contact MLP Investor Relations Alte Heerstr. 40 69168 Wiesloch Germany Jan Berg, Head of Corporate Communications Tel.: +49 (0) 6222 308 4595 Andreas Herzog, Senior Manager Investor Relations and Financial Communications Tel.: +49 (0) 6222 308 2272 investorrelations@mlp.de www.mlp-ag.com Page 26