Mastercard Incorporated · NYSE:MA
Mastercard — Q1 2015 Earnings Presentation
10 slides from Mastercard's earnings presentation, Apr 29, 2015
Slide 1: First-Quarter 2015 Financial Results Conference Call
MasterCard Incorporated First-Quarter 2015 Financial Results Conference Call April 29, 2015 ©2015 MasterCard. Proprietary
Slide 2: Business Update
Business Update Page 2 Financial & Operational Overview Economic Update Business Highlights ©2015 MasterCard. Proprietary
Slide 3: 1st Quarter Selected Financial Performance
1st Quarter Selected Financial Performance ($ in millions, except per share data) Page 3 YOY Growth As FX 1Q 15 1Q 14 Reported Adjusted Net revenue $ 2,230 $ 2,172 3% 8% Total operating expenses 879 887 (1)% 3% Operating income 1,351 1,285 5% 12% Operating margin 60.6% 59.2% 1.4 ppts 2.0 ppts Net in
Slide 4: 1st Quarter Gross Dollar Volume (GDV)
1st Quarter Gross Dollar Volume (GDV) ($ in billions) Page 4 Worldwide United States Rest of World 12% Growth 7% Growth 15% Growth $1,200 $1,044 $1,063 $1,000 $489 $800 $471 $726 $724 $600 $298 $302 $400 $318 $339 $573 $574 $174 $187 $429 $200 $422 $144 $152 $0 1Q 14 1Q 15 1Q 14 1Q 15 1Q 14 1Q 15 Cr
Slide 5: Processed Transactions and Cards
1st Quarter Processed Transactions and Cards Page 5 Processed Transactions Cards 12% Growth 8% Growth 12,000 2,150 11,035 1,994 2,000 9,849 10,000 698 699 Transactions (in millions) 8,000 1,500 Cards (in millions) 6,000 1,000 4,000 1,452 1,295 500 2,000 0 0 1Q 14 1Q 15 1Q 14 1Q 15 MasterCard Cards M
Slide 6: 1st Quarter Revenue
1st Quarter Revenue ($ in millions) Page 6 1Q 14 1Q 15 $3,000 $2,500 $2,172 $2,230 $2,000 $1,500 $938 $963 $936 $1,006 $1,000 $695 $724 $341 $418 $500 $0 -$500 -$1,000 ($738) ($881) -$1,500 Domestic Cross-Border Transaction Other Rebates and Total Net Revenue Assessments Volume Fees Processing Fees
Slide 7: 1st Quarter Operating Expenses
1st Quarter Operating Expenses ($ in millions) Page 7 $1,200 1Q 14 1Q 15 $887 $879 $800 $665 $650 $400 $149 $142 $87 $73 $0 General Advertising Depreciation Total & & & Operating Administrative Marketing Amortization Expenses As-reported (2)% (4)% 18% (1)% FX-adjusted 1% 3% 19% 3% Note: 1. Figures m
Slide 8: Looking Ahead
Looking Ahead Page 8 Business update through April 21st Thoughts for 2015 • Discussion on FX • Revenue • Expenses • Tax Rate Long-Term Performance Objectives ©2015 MasterCard. Proprietary
Slide 9: ©2015 MasterCard. Proprietary
©2015 MasterCard. Proprietary
Slide 10: P&L Impact of Revision of Prepaid Program Mgmt Fees
Appendix A P&L Impact of Revision of Prepaid Program Mgmt Fees Page 10 2013 2014 (in $ millions) Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Gross revenues 2,563 2,750 2,924 3,051 11,288 2,910 3,145 3,339 3,350 12,744 Rebates and incentives (contra-revenues) (662) (664) (716) (934) (2,976) (738) (777) (849) (939)