Mlp Se · XETR:MLP
Mlp — Non-Deal Roadshow (April 2012)
28 slides from Mlp's roadshow presentation, Apr 18, 2012
Slide 1: MLP – Company Presentation
MLP – Company Presentation Reinhard Loose, CFO Roadshow Copenhagen April 18, 2012
Slide 2: Agenda
Agenda • MLP at a glance • Outlook • Top line development • Bottom line development • Earnings situation • 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 795,500 private clients y More than 5,000 corporate clients y 20.2 billion € assets under management y Around 1,600 employees and 2,130 financial consultants Page 3
Slide 4: MLP – a broad-based consulting house
MLP – a broad-based consulting house The MLP Group Private clients Institutional Rating investors and corporate clients Independent product and investment research Page 4 MLP – Company Presentation
Slide 5: FY 2011: Increased revenues and operating result
FY 2011: Increased revenues and operating result Total revenues € 545.5 million + 4% Operating EBIT € 52.3 million + 11% EBIT € 18.9 million - 60% Group net profit € 12.5 million - 63% Earnings per share € 0.12 - 61% Dividend per share € 0.60 + 100% Page 5 MLP – Company Presentation
Slide 6: Agenda
Agenda • MLP at a glance • Outlook • Top line development • Bottom line development • Earnings situation • Summary Page 6 MLP – Company Presentation
Slide 7: Goal 2012: Operating EBIT margin 15 percent
Goal 2012: Operating EBIT margin 15 percent MLP Group EBIT margin [%] 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 Page 7 MLP – Company Presentation
Slide 8: Agenda
Agenda • MLP at a glance • Outlook • Top line development • Bottom line development • Earnings situation • Summary Page 8 MLP – Company Presentation
Slide 9: Independent business model and one-stop for lifetime financial solutions
Independent business model and one-stop for 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 coverage N
Slide 10: Growth anticipated in all three core areas
Growth anticipated in all three core areas 2012 Revenues – old-age provision Revenues – wealth management Revenues – health insurance • Qualitative forecast made a year ago fundamentally confirmed: y Old-age provision: slight increase in revenues in 2012 y Health insurance: slight increase in revenu
Slide 11: Pressure on social security systems is imminent
Pressure on social security systems is imminent Old-age pension provision Page 11 MLP – Company Presentation
Slide 12: Growth driver – Occupational pensions
Growth driver – Occupational pensions Old-age pension provision y This business area has been successfully built up since 2004 y Occupational pension business now accounts for 13 percent of the premium sum (FY 2010: 9 percent) y Provision of consulting and services to more than 5,000 companies and e
Slide 13: 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 13 MLP – Company Presentation offering
Slide 14: New structure at Feri enables even better coverage of changing investor needs
New structure at Feri enables even better coverage of changing investor needs Wealth management MLP AG (100 %) Feri AG 100 % 100 % 100 % 100 % 100 % Institutional Feri Feri Feri Trust Institutional Management Feri Trust EuroRating Investment & Family Company GmbH Office Services Services S.à.r.l., G
Slide 15: Successful development of Assets under Management
Successful development of Assets under Management Wealth management Assets under Management in the MLP group [in € billion] 20.2 19.8 20 18 17.0 16 14.0 14 12 10 8 2008 2009 2010 2011 Page 15 MLP – Company Presentation
Slide 16: Increasing sceptical perception of the statutory healthcare system
Increasing sceptical perception of the statutory healthcare system Health insurance Revenue health insurance [in € million] • Shortening of the waiting period to 79.9 change to private health insurance at 70 61.3 the beginning of 2011 50 • Increasing sceptical perception of the 30 statutory healthca
Slide 17: Clear advantages through holistic consulting approach
Clear advantages through holistic consulting approach 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%
Slide 18: Agenda
Agenda • MLP at a glance • Outlook • Top line development • Bottom line development • Earnings situation • Summary Page 18
Slide 19: Reduction in fixed costs to around € 249 million
Reduction in fixed costs to around € 249 million Development of fixed costs [in € million] y 2011: Adjusted fixed costs 279 reduced by € 6.3 million 280 273* y Investment and efficiency 270 260 programme remains on track 250 249 y No one-off exceptional costs 240 expected in 2012 230 2010 2011 2012e
Slide 20: Agenda
Agenda • MLP at a glance • Outlook • Top line development • Bottom line development • Earnings situation • Summary Page 20
Slide 21: Q4: Total revenues increased by 9 percent
Q4: Total revenues increased by 9 percent Continuing operations Total revenues [in € million] + 4% 545.5 600 + 9% 522.6 189.0 200 173.7 400 150 497.3 526.7 472.2 498.5 183.0 165.1 158.8 175.6 100 200 50 6.3 7.3 25.2 28.2 8.7 6.0 25.3 18.8 0 Q4 2010 Q4 2011 2010 2011 Revenue Revenue from commissions
Slide 22: MLP achieved growth in all consulting areas
MLP achieved growth in all consulting areas Continuing operations Revenue from commissions and fees [in € million] Q4 2010 Q4 2011 Δ in % 2010 2011 Δ in % Old-age provision 105.6 123.3 17 288.3 292.9 2 Wealth management 21.5 22.0 2 78.5 78.8 0 Health insurance 21.8 20.7 -5 61.3 79.9 30 Non-life insu
Slide 23: Significant increase in operating EBIT
Significant increase in operating EBIT EBIT development [in € million] 60 + 11% + 11% 40 52.3 33.4 47.0 42.2 20 18.9 0 2009 2010 2011 2011 Adjusted One-offs Reported Page 23
Slide 24: Reduction in adjusted fixed costs by € 6.3 million
Reduction in adjusted fixed costs by € 6.3 million Fixed costs* – after adjustment for one-offs [in € million] 310 2011 300 306.2 2010 290 33.4 280 279.1 270 272.8 260 250 Reported One-offs Adjusted * Personnel, D&A, other operating expenses Page 24
Slide 25: Dividend increases to 60 cents per share
Dividend increases to 60 cents per share Dividend per share [cents] 60 60 y Constant regular 50 30 dividend despite 40 28 30 one-off exceptional 30 25 cost 20 30 y In addition, return of 10 surplus liquidity 0 2008 2009 2010 2011 Page 25 MLP – Company Presentation
Slide 26: Agenda
Agenda • MLP at a glance • Outlook • Top line development • Bottom line development • Earnings situation • Summary Page 26
Slide 27: Summary
Summary • Despite the continuingly difficult market environment, in 2011 MLP developed successfully from an operating perspective. • Through its investment and efficiency programme, MLP has initiated important measures for the future. • MLP benefits from the new breadth in its business model. • In 2
Slide 28: Contact
Contact MLP Investor Relations Alte Heerstr. 40 69168 Wiesloch Germany Jan Berg, Head of Corporate Communications Tel.: +49 (0) 6222 308 4595 Fax: +49 (0) 6222 308 1131 investorrelations@mlp.de www.mlp-ag.com Page 28 MLP – Company Presentation