Mapfre Sa · BME:MAP
Mapfre Sa — Investor Presentation (March 2021)
15 slides from Mapfre Sa's investor presentation, Mar 12, 2021
Slide 1: Fernando Mata, Member of the Board - CFO
Fernando Mata Member of the Board - Chief Financial Officer (CFO) #WeAreMAPFRE March 12, 2021
Slide 2: Financial Strengths
FINANCIAL STRENGTHS Insurance Combined Capital Quality Debt level Technical (86% Tier 1) Ratio 23% Result Ratio 92.9% Financial Solvency Strength Ratings Cash position Fitch A+ €2,419M 180% S&P A+ #WeAreMAPFRE 2
Slide 3: Total Premiums and Consolidated Revenue
TOTAL PREMIUMS 23,044 20,482 € 20,482M -11.1% -2.2%* +1.1% -1.9% -3.3% -7% PREMIUMS UNDERLYING PEMEX FALL IN IBERIA EXCHANGE PREMIUMS ISSUED 2019 PREMIUM EFFECT LIFE SAVINGS RATES ISSUED 2020 16,110 GROWTH +0.6%* CONSOLIDATED REVENUE 4,372 €25,419M 2,437 2,500 -8.3% -20.3% -11.1%* -25.9% +16.8% -10.
Slide 4: Net Earnings and Earnings Breakdown
EARNINGS BREAKDOWN ADJUSTED GROUP EARNINGS 2019 2020 NET EARNINGS NET EARNINGS 609 527 € 527M -13.6% CATASTROPHIC EVENTS GOODWILL IMPAIRMENT 130 66 148 132 ADJUSTED EARNINGS 805 807 +0.2% 873 464 527 -218 -298 -294 -5% -25% -14% -8% -15% -13.6% NON-LIFE LIFE OTHER TAX NON-CONTROLLING NET ITEMS* INTE
Slide 5: Premiums/Earnings by Business Unit
PREMIUMS/EARNINGS BY BUSINESS UNIT PREMIUMS NET EARNINGS INSURANCE RE 790 107 16,691 5,687 INTERNATIONAL -13% INTERNATIONAL +2% 3,581 230 LATAM LATAM REASEGURO 6,110 4,431 GLOBAL 453 RISKS IBERIA 1,256 IBERIA 7,000 2 15 -21 INSURANCE REINSURANCE GLOBAL ASISTENCIA ASISTENCIA RISKS 619 -28% Million eu
Slide 6: Technical Profitability by Region and Unit
TECHNICAL PROFITABILITY BY REGION AND UNIT * ROE 7.6% -0.4 p.p. 15.8% 11.3% 10.6% 10.3% 5.6% 4.4% 1% LATAM NORTH BRAZIL IBERIA LATAM NORTH EURASIA RE SOUTH AMERICA +0.6 p.p. +1.7 p.p. -2 p.p. +0.5 p.p. -0.4 p.p. +2.2 p.p. -2.4 p.p. *Excluding goodwill writtedown. #WeAreMAPFRE 6
Slide 7: All Insurance Combined Ratios Below 100%
ALL INSURANCE COMBINED RATIOS BELOW 100% GROUP COMBINED RATIO 94.8% ( -2.9 p.p.) GROUP INSURANCE COMPANIES 101.2% 92.9% ( -3.6 p.p.) 98.9% 97.7% 93.3% 93.9% 92% 90.5% 87.6% GLOBAL LATAM NORTH BRAZIL LATAM NORTH IBERIA EURASIA REINSURANCE RISKS SOUTH AMERICA -4.6 p.p. -4.2 p.p. -2.4 p.p. -30.3 p.p. -
Slide 8: Group Overview: Total Assets and Shareholders' Equity
GROUP OVERVIEW 72,510 69,153 TOTAL ASSETS -4.6% DEC. 2019 DEC. 2020 SHAREHOLDERS' SHAREHOLDERS' EQUITY AS ON EQUITY -3.6% March 31, 2020 €7,860M + 9% 8,854 8,536 527 -416 275 -675 -29 CURRENCY BALANCE FISCAL YEAR UNREALIZED BALANCE DIVIDENDS CONVERSION OTHER 12/31/19 RESULT GAINS 12/31/20 DIFFERENCE
Slide 9: Investments and Cash
INVESTMENTS AND CASH FIXED INCOME INVESTMENT PORTFOLIO €31,532M € 44,893M -16.1% FIXED INCOME AND OTHER PUBLIC DEBT 23,396 81% Spain 12,761 Rest of Europe 4,401 United States 1,524 Brazil 2,245 Latin America – Other 1,697 CASH Other countries 768 VARIABLE INCOME 5% AND FUNDS 9% CORPORATE DEBT 8,136
Slide 10: Capital Structure and Solvency
CAPITAL STRUCTURE SOLVENCY €12,832 M Tier 1 Tier 2 €7,373M €1,196M SUBORDINATED DEBT (86%) (14%) 9% BANK Ratio DEBT 7% Debt 23% 2020 SENIOR DEBT EQUITY 8% Ratio 180% * 76% Solvency II *3rd Quarter #WeAreMAPFRE 10
Slide 11: The MAPFRE Share in 2020
THE MAPFRE SHARE IN 2020 219,341 3,079.6 17 58% 9.3% NUMBER OF NUMBER EARNINGS PRICE / PER SHAREHOLDERS OF SHARES PER SHARE BOOK VALUE (MILLIONS) (EURO CENTS) #WeAreMAPFRE 11
Slide 12: Shareholder Composition and Free Float
SHAREHOLDER Composition FREE FLOAT Fundación 3.9% SPANISH MAPFRE INSTITUTIONAL 69.8% 15.1% FOREIGN INSTITUTIONAL 10.2% Other shareholders PRIVATE INDIVIDUALS 30.2% Includes 0.98% in treasury stock #WeAreMAPFRE 12
Slide 13: Commitment to Our Shareholders
COMMITMENT TO OUR SHAREHOLDERS Paid in €447M €447M dividends DIVIDEND 2016 2017 2018 2019 2020 €400M €447M €416M 12.5 13.5 8% 73% cents per share cents per share Dividend Dividend Dividend Payout charged to paid in 2020 yield 2020 result #WeAreMAPFRE 13
Slide 14: Share Price and Market Capitalization
SHARE PRICE -13.5% -15.5% 2020 -32.5% -27.3% Data in base 100 -32.5% MAPFRE SPANISH BANKS -27.3% 31 Dec 31 Jan 28 Feb 31 Mar 30 Apr 31 May 30 Jun 31 Jul 31 Aug 30 Sep 31 Oct 30 Nov 31 Dec Share price movement: December 31, 2019 - December 31, 2020 Source: Bloomberg and internal calculations. Spanish
Slide 15: Thank You
THANK YOU Fernando Mata #WeAreMAPFRE CFO and Member of the Board