Moltiply Group S.p.a. · MIL:MOL
Moltiply — Gruppo MutuiOnline — Q3 2011 Earnings Presentation
18 slides from Moltiply's earnings presentation, Nov 14, 2011
Slide 1: Gruppo MutuiOnline Third Quarter 2011 Results
Gruppo MutuiOnline Third Quarter 2011 Results 14th November 2011
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) - 10th November 2011
Share performance 6th June 2007 (IPO date) - 10th November 2011 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 3,5 700 600 3,0 500 400 2,5 300 MOL Total Return vs. MOL vs.FTSE ITALIA STAR 200 2,0 15% 100 10% 0 1,5 5% 06/07 09/07 12/07 04/08 07/08 10
Slide 5: Current shareholding structure
Current shareholding structure Shareholding structure as of 14th November 2011* Treasury shares; 5,59% Free float; 23,30% Alma Ventures**; 32,50% 360 Capital One; 2,60% Algebris Investments (UK) LLP; 2,62% Parvus Asset Management (UK) LLP; St efano Rossini; 4,32% 10,34% Capital Research & Management
Slide 6: Business portfolio
Business portfolio DIVISION Broking BPO Multi-brand Multi-brand Multi-brand Multi-brand Employee broking of broking of broking of Remote Mortgage insurance loan BUSINESS mortgages consumer mortgages broking mortgage underwriting underwriting LINE through loans through packaging and closing through a
Slide 7: Q3 highlights
Q3 highlights Revenues EBIT (€m) (€m) 8 6,9 Y-o-Y 20 6 +73.3% 4,0 4 16,1 16 2 Y-o-Y +45.8% 0 12 11,0 Q3 10 Q3 11 EBIT margin 36% 43% 8 Net Income* (€m) 4 6 4,6 0 4 Y-o-Y 2,7 +69.2% Q3 10 Q3 11 2 0 Q3 10 Q3 11 NI margin 25% 29% * Attributable to the shareholders of the Issuer 7
Slide 8: Q3 Segment reporting
Q3 Segment reporting Revenues EBIT (€m) (€m) 8 20 6,9 6 Y-o-Y +73.3% Y-o-Y 16,1 4,0 5,0 +53.4% 4 16 Y-o-Y 3,3 2 +45.8% 9,1 Y-o-Y Y-o-Y +41.6% 0,7 1,9 +163.0% 0 12 11,0 Q3 10 Q3 11 Broking Division BPO Division 8 6,4 7,0 Y-o-Y EBIT margin 4 +51.6% 4,6 Q3 2010 2010 Q3 2011 0 Q3 10 Q3 11 Broking Divisi
Slide 9: 9M highlights
9M highlights Revenues EBIT (€m) (€m) 24 21,2 20 Y-o-Y 56 +47.6% 52,3 16 14,4 12 48 Y-o-Y 8 +49.6% 4 40 0 35,0 9M 10 9M 11 32 EBIT margin 41% 41% 24 Net Income* 16 (€m) 8 16 14,3 Y-o-Y 12 10,1 +42.2% 0 9M 10 9M 11 8 4 0 9M 10 9M 11 NI margin 29% 27% * Attributable to the shareholders of the Issuer 9
Slide 10: 9M Segment reporting
9M Segment reporting Revenues EBIT (€m) (€m) 24 21,2 56 52,3 20 Y-o-Y 16 14,4 +47.6% Y-o-Y 15,8 +25.9% 48 Y-o-Y 12 +49.6% Y-o-Y 12,6 8 29,9 +37.6 Y-o-Y 40 4 +198.2% 35,0 5,4 0 1,8 32 9M 10 9M 11 24 21,8 Broking Division BPO Division Y-o-Y 16 22,4 +69.3% EBIT margin 8 13,2 9M 2010 2010 9M 2011 0 9M 1
Slide 11: Evolution of the Italian retail credit market 1/2
Evolution of the Italian retail credit market 1/2 • In the past months, we often highlighted the growing risks for the development of the Italian retail credit market, which represents the reference context for the Group’s main businesses. Now, mainly as a consequence of the well-known tensions affe
Slide 12: Evolution of the Italian retail credit market 2/2
Rate of change Rate of change -40% -30% -20% -10% 0% 10% 20% 30% -16% -12% -8% -4% 0% 4% Jan-09 Jan-09 Feb-09 Feb-09 Mar-09 Mar-09 Apr-09 Apr-09 May-09 May-09 Jun-09 Jun-09 Jul-09 Jul-09 Aug-09 Aug-09 Sep-09 Sep-09 Oct-09 Oct-09 Nov-09 Nov-09 Dec-09 Dec-09 Jan-10 Jan-10 Feb-10 Feb-10 Mar-10 Mar-10 A
Slide 13: Broking Division business update
Broking Division business update • In 9M 2011, the revenues of the Broking Division displayed a significant increase compared to 9M 2010, thanks to the expansion of all the traditional Business Lines and to a strong acceleration of online insurance broking. This growth confirms the effectiveness of
Slide 14: BPO Division business update
BPO Division business update • In Q3 2011 the expected positive drag effect of a strong processing pipeline was confirmed: the BPO Division maintained its growth trend compared with 2010, both in terms of revenues, up to 52% compared to Q3 2010, and operating margin, up 163%. This increase was mainl
Slide 15: Appendix
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Slide 16: Q3 Profit & loss
Q3 Profit & loss (€000) Q3 2011 Q3 2010 % Var. Revenues 16.083 11.031 45,8% Other income 122 121 0,8% Capitalization of internal costs 90 78 15,4% Service costs (4.485) (3.488) 28,6% Personnel costs (4.050) (3.077) 31,6% Other operating costs (552) (387) 42,6% Depreciation and amortization (329) (30
Slide 17: Quarterly Profit & loss
Quarterly Profit & loss (€000) Q3 2011 Q2 2011 Q1 2011 Q4 2010 Q3 2010 Revenues 16.083 20.445 15.793 18.451 11.031 Other income 122 217 109 137 121 Capitalization of internal costs 90 158 68 91 78 Service costs (4.485) (5.021) (5.247) (5.629) (3.488) Personnel costs (4.050) (5.562) (4.259) (3.555) (
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