Moltiply Group S.p.a. · MIL:MOL
Moltiply — Gruppo MutuiOnline — Q3 2009 Earnings Presentation
17 slides from Moltiply's earnings presentation, Nov 10, 2009
Slide 1: Gruppo MutuiOnline Third Quarter 2009 Results
Gruppo MutuiOnline Third Quarter 2009 Results 10th November 2009
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) - November 2009
Share performance 6 June 2007 (IPO date) - 6 November 2009 1.000 6,5 900 6,0 800 5,5 MOL performance vs. FTSE ITALIA STAR 700 5,0 0,10 0,05 600 4,5 0,00 -0,05 -0,10 500 4,0 -0,15 -0,20 -0,25 400 3,5 -0,30 -0,35 -0,40 300 3,0 -0,45 -0,50 -0,55 -0,60 200 2,5 -0,65 7 07 07 07 07 08 8 8 8 8 08 08 08 8 0
Slide 5: Current shareholding structure
Current shareholding structure Shareholding structure as of 7th October 2009* Free float; 24,61% Alma Ventures**; 32,50% Treasury shares; 3,72% 360 Capital One; 2,60% Algebris Investments (UK) Stefano Rossini***; 4,32% LLP; 5,16% Parvus Asset Management (UK) LLP; Capital Research & Index Venture Gro
Slide 6: Business portfolio
Business portfolio Broking Broking BPO BPO DIVISION DIVISION 2008: 2008: Rev. €27.8m EBIT Rev. €27.8m EBIT €17.1m €17.1m 2008: 2008: Rev. €18.5m EBIT Rev. €18.5m EBIT €4.8m €4.8m H1 H1 2009: 2009: Rev. Rev. €15.5m €15.5m EBIT EBIT €9.2m €9.2m H1 H1 2009: 2009: Rev. Rev. €8.2m €8.2m EBIT EBIT €1.0m €
Slide 7: Q3 highlights
Q3 highlights Revenues EBIT (€m) (€m) 8 Y-o-Y 5.8 -20% 6 15 4.7 4 Y-o-Y 11.4 -7% 2 10.6 0 10 Q3 08 Q3 09 EBIT EBIT margin margin 51% 51% 44% 44% 5 Net Income (€m) 5 3.7 Y-o-Y 4 -16% 3.1 0 3 Q3 08 Q3 09 2 1 0 Q3 08 Q3 09 NI NI margin margin 33% 33% 29% 29% 7
Slide 8: 9m highlights
9m highlights Revenues EBIT (€m) (€m) 18 15.6 Y-o-Y -5% 14.9 15 40 12 Y-o-Y 34.3 9 35 +5% 32.6 6 3 30 0 25 9m 08 9m 09 EBIT EBIT margin margin 48% 48% 43% 43% 20 15 Net Income 10 (€m) 5 12 Y-o-Y 10.0 10.3 +3% 0 8 9m 08 9m 09 4 0 9m 08 9m 09 NI NI margin margin 31% 31% 30% 30% 8
Slide 9: Segment reporting
Segment reporting Revenues EBIT (€m) (€m) 20 Y-o-Y 15.6 -5% 14.9 16 40 Y-o-Y 12 Y-o-Y +5% 34.3 +20% 11.5 13.9 35 32.6 8 4 Y-o-Y 30 4.1 -75% 0 1.0 25 22.6 Y-o-Y 9m 08 9m 09 +21% 18.6 20 Broking Division BPO Division 15 10 EBIT margin 14.0 11.7 Y-o-Y -16% 5 9m 9m 2008 2008 2008 2008 9m 9m 2009 2009 0
Slide 10: Broking Division business update
Broking Division business update •During •During Q3 Q3 2009, 2009, thethe Division Division generated generated slightly slightly lower lower revenues revenues than than in in Q3 Q3 2008. 2008. Despite Despite the the growth (weaker than in the pervious quarters) of the volume growth (weaker than in
Slide 11: BPO Division business update
BPO Division business update •As •As previously previously announced, announced, the the results results ofof the the BPO BPO Division Division forfor Q3 Q3 2009 2009 suffered suffered heavily heavily from from the the volume reduction trends already recorded in the first six months of the year, lin
Slide 12: Evolution of the Italian residential mortgage market
Evolution of the Italian residential mortgage market Residential mortgage flows Euro billion 36 Y-o-Y 29,30 -17% 30 24,20 24 • New Bank of Italy data confirms a strong contraction 18 of the residential mortgage market in H1 2009 (-17% YoY); 12 market contraction for FY 2008 was -10% 6 0 H1 08 H1 09
Slide 13: Evolution of the Italian real estate market
Evolution of the Italian real estate market Number of residential real-estate transactions Thousands of transactions • Italian Land Agency data confirms a slowdown in terms of number of 400 Y-o-Y residential real estate transactions in 355 -16% H1 2009 (-16% YoY) 350 300 300 • Residential real-estat
Slide 14: Back-ups
Back-ups arr
Slide 15: Quarterly Profit & loss
Quarterly Profit & loss (€000) (€000) Q3 Q3 2009 2009 Q2 Q2 2009 2009 Q1 Q1 2009 2009 Q4 Q4 2008 2008 Q3 Q3 2008 2008 Revenues 10.618 12.304 11.365 13.781 11.385 Other income 110 65 84 84 55 Capitalization of internal costs 76 96 76 73 58 Services costs (2.800) (3.080) (2.995) (3.420) (2.394) Person
Slide 16: 2010 Financial calendar
2010 Financial calendar Event Event Date Date •Board •Board of of Directors Directors meeting meeting for for the the approval approval of of Q4 Q4 2009 2009 results results •12 •12 Feb Feb 2010 2010 •Board •Board of of Directors Directors meeting meeting for for the the approval approval of of fina
Slide 17: 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