Mlp Se · XETR:MLP

Mlp — Berenberg & Goldman Sachs German Corporate Conference 2015

29 slides from Mlp's conference presentation, Sep 23, 2015

  1. Slide 1: The MLP Group – The partner for all financial matters

    The MLP Group – The partner for all financial matters Reinhard Loose, CFO Munich, September 23, 2015 Berenberg & Goldman Sachs German Corporate Conference

  2. Slide 2: Agenda

    Agenda  MLP at a glance 3  Benefits for shareholders 7  Key Financials 14  Impact of regulation 20  Outlook MLP 25 Page 2 September 23, 2015 Berenberg and Goldman Sachs German Corporate Conference

  3. Slide 3: The MLP Group at a glance

    The MLP Group at a glance MLP Group The MLP Group The Partner for all financial matters | Private Clients – Companies – Institutional Investors MLP Finanzdienstleistungen AG FERI AG DOMCURA AG TPC GmbH The investment expert The underwriting Dialog Partner The specialist in for institutional investor

  4. Slide 4: Consulting services throughout Germany for private, corporate and institutional clients

    Consulting services throughout Germany for private, corporate and institutional clients MLP Group MLP: • Approximately 1,950 client consultants • Approximately 160 offices – at least one at every university location • Approximately 1,300 employees at company HQ and at local offices FERI: • Approxima

  5. Slide 5: Main business areas

    MLP Group – An Overview • More than 845,000 private clients in the mass affluent segment of the market target groups: graduates (i.e. physicians, solicitors, engineers and economists) Clients • Over 200 private clients in the HNWI market & over 5,000 corporate clients, employers and institutional cl

  6. Slide 6: Agenda

    Agenda  MLP at a glance 3  Benefits for shareholders 7  Key Financials 14  Impact of regulation 20  Outlook MLP 25 Page 6 September 23, 2015 Berenberg and Goldman Sachs German Corporate Conference

  7. Slide 7: MLP – Benefits for shareholders

    MLP – Benefits for shareholders More diversified revenue mix and cost control 1 Stability Attractive dividend policy 2 Attractive ROI Stable shareholder structure 3 Consistency in strategy Page 7 September 23, 2015 Berenberg and Goldman Sachs German Corporate Conference

  8. Slide 8: Significant strengthening of the revenue base through strategic further development

    Significant strengthening of the revenue 1 base through strategic further development Company pensions Wealth Management Real estate Broadening Non-life 2004 2006 2011 2015 Formation MLP acquires Start of Acquisition of DOMCURA Group of business division stake in FERI AG real estate offerings • Unde

  9. Slide 9: Underwriting agency selects the appropriate insurer from the marketplace

    Underwriting agency selects the 1 appropriate insurer from the marketplace Consultancy Underwriting agency Insurers (Sales commission) (Administration and additional (Risk margin) sales commission) disbursement Product sales Risk carrying Application Collection/ Contract Claim Claim Consulting + con

  10. Slide 10: Administration costs reduced by more than €50 million – solid foundation for the future

    Administration costs reduced by more than 1 € 50 million – solid foundation for the future Administrative costs* in € million 311.6 295.5 279.1 274.3** 256.8 255*** 251.6 250.6 * Definition: Personnel expenses, depreciation and amortisation and other operating expenses ** Adjusted to include one-off

  11. Slide 11: Attractive dividend policy: pay-out ratio of 50% to 70%

    Attractive dividend policy: 2 pay-out ratio of 50% to 70% Return on dividend in % 12 10  In the future, pay-out ratio of 50% to 70% of Group net profit 8  At the same time capital is required for: 6 4 • Acquisitions 2 • Investments • Capital management (Basel III) 0 2009 2010 2011 * 2012 2013 2014

  12. Slide 12: Stable shareholder structure

    Stable shareholder structure 3 WKN: 656 990 Share details ISIN: DE0006569908 Börsen: XETRA, Frankfurt, other regional exchanges Dr. h. c. Manfred Lautenschläger 23.22% HDI 9.36% Dr. h. c. Manfred Barmenia 5.49% Lautenschläger Allianz SE 6.18% Angelika Shareholder Angelika Lautenschläger 5.94% Lauten

  13. Slide 13: Agenda

    Agenda  MLP at a glance 3  Benefits for shareholders 7  Key Financials 14  Impact of regulation 20  Outlook MLP 25 Page 13 September 23, 2015 Berenberg and Goldman Sachs German Corporate Conference

  14. Slide 14: FY 2014: Total revenue rises to € 531.1 million

    FY 2014: Total revenue rises to € 531.1 million Total revenue in Q4 Total revenue in FY [in € million] 200 186.4 600 531.1 162.3 499.0 150 172.0 400 149.8 457.7 486.9 509.7 177.8 480.5 155.3 100 200 50 5.5 5.8 22.8 22.9 7.0 8.6 18.5 21.4 0 0 Q4 2013* Q4 2014 2013* 2014 Revenue Revenue: commissions a

  15. Slide 15: H1 2015: Total revenue rises to € 246.5 million

    H1 2015: Total revenue rises to € 246.5 million Total revenue H1 [in € million] 246.5 250 226.9 224.3 200 226.5 205.4 204.5 237.3 216.0 216.8 150 100 50 10.8 11.4 11.5 0 9.2 10.2 8.3 H1 2015 H1 2014 H1 2013 Revenue Revenue: commissions and fees Interest income Other revenue Page 15 September 23, 201

  16. Slide 16: H1 2015: Strong growth in wealth management

    H1 2015: Strong growth in wealth management Revenue [in € million] Q2 2015 Q2 2014* Δ in % H1 2015 H1 2014* Δ in % Old-age provision 41.1 44.1 -7 83.1 84.3 -2 Wealth management 41.9 34.4 22 82.6 67.0 23 Health insurance 10.4 9.7 7 22.2 21.1 5 Non-life insurance 5.1 5.3 -4 25.2 24.1 5 Loans and mortg

  17. Slide 17: H1 2015: EBIT increases to € 8.1 million

    H1 2015: EBIT increases to € 8.1 million Income statement [in € million] Q2 2015 Q2 2014 H1 2015 H1 2014* • Q2: Depreciation Property Total revenue 115.7 108.1 246.5 226.9 (€ 1.1 million) EBIT 1.1 1.1 8.1 4.5 • Q2: Incidental acquisition -0.1 -0.1 costs DOMCURA Finance cost -0.3 -0.1 (around € 0.6 m

  18. Slide 18: H1 2015: Balance sheet details

    H1 2015: Balance sheet details MLP Group [in € million] 30/06/2015 31/12/2014 Intangible assets 154.1 156.2 Financial investments 137.0 145.3 • Equity ratio: 22.3% Cash and cash equivalents 73.1 49.1 • Core capital ratio: 14.3% Other receivables and other assets 91.5 117.7 Shareholders’ equity 364.9

  19. Slide 19: Agenda

    Agenda  MLP at a glance 3  Benefits for shareholders 7  Key financials 2014 14  Impact of regulation 20  Outlook MLP 25 Page 19 September 23, 2015 Berenberg and Goldman Sachs German Corporate Conference

  20. Slide 20: Fundamental changes in the market

    Fundamental changes in the market Trend Effects Client behaviour  Fundamental scepticism on the part of clients towards the • Intense competition financial industry since the outbreak of the financial crisis • Quality of consulting services and differentiation  Quick and inexpensive information po

  21. Slide 21: Regulation strongly increased since 2004

    Regulation strongly increased since 2004 EU Insurance Mediation Draft amending the EU Markets in Financial Implementation Directive (IMD) Instruments Directive (MiFID II) of MiFID II EU Markets in Financial Instruments Draft directive amending the EU Implementation Directive (MiFID) Insurance Mediat

  22. Slide 22: Significant increase in consolidation within the market due to LVRG

    Significant increase in consolidation within the market due to LVRG Number of insurance Effects of the Life Insurance intermediaries in Germany Reform Act (LVRG) 280.000 , • Quality of consultancy and 260.000 , portfolio will become even more 240.000 , important 220.000 , 200.000 , • Sale organisati

  23. Slide 23: MLP's business model is well aligned for the altered market conditions

    MLP’s business model is well aligned for the altered market conditions Success factors MLP • No own products – MLP selects from the ranges offered by relevant providers Client-centred • Leading training and further training, high quality consulting business model • Fulfilment of the highest regulato

  24. Slide 24: Agenda

    Agenda  MLP at a glance 3  Benefits for shareholders 7  Key financials 2014 14  Impact of regulation 20  Outlook MLP 25 Page 24 September 23, 2015 Berenberg and Goldman Sachs German Corporate Conference

  25. Slide 25: Implemented growth initiatives begin to bear fruit

    Implemented growth initiatives begin to bear fruit Focus Measures implemented in the first half-year 1. Online strategy • Expansion of the Internet presence in order to serve as a significant channel for attracting interested parties and new clients • Start of the new Internet presence “MLP financif

  26. Slide 26: Outlook: MLP anticipates EBIT above previous year's level

    Outlook: MLP anticipates EBIT above previous year’s level Administrative costs* (excl. DOMCURA) Sales revenue [in € million] In each case compared to the previous year 311.6 2015 295.5 279.1 Revenue from old-age ** 274.3** Slight decrease provision 256.8 251.9 250.6 255 Revenue from health Slight in

  27. Slide 27: Anticipated pro-forma EBIT for DOMCURA in 2015: around € 2 million

    Anticipated pro-forma EBIT for DOMCURA in 2015: around € 2 million As of 1st January, 2015, MLP is entitled to a share in profits for 100 percent of the shares. Transaction was closed on 29th July, 2015 EBIT: plus ~ € 5.0 million EBIT: minus ~ € 3.0 million 2015 Q1 Q2 Q3 Q4 • EBIT booked to equity c

  28. Slide 28: Summary

    Summary • MLP has targetedly further developed its business model in the past few years. • Despite operating in difficult markets, MLP ended 2014 on a high note and was able to increase its market shares. • Consolidation is now starting to gather momentum in Germany. • MLP is optimally positioned fo

  29. Slide 29: Contact

    Contact MLP Corporate Communications Alte Heerstr. 40 69168 Wiesloch Germany  Jan Berg, Head of Corporate Communications  Andreas Herzog, Head of Investor Relations and Financial Communications Tel.: +49 (0) 6222 308 8320 Fax: +49 (0) 6222 308 1131 investorrelations@mlp.de www.mlp-ag.com Page 29 S

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