Moltiply Group S.p.a. · MIL:MOL
Moltiply — Gruppo MutuiOnline — H1 2012 Earnings Presentation
16 slides from Moltiply's earnings presentation, Aug 10, 2012
Slide 1: Gruppo MutuiOnline First Half 2012 Results
Gruppo MutuiOnline First Half 2012 Results 10th August 2012
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) - 6th August 2012
Share performance 6th June 2007 (IPO date) - 6th August 2012 MOL Total Return vs. MOL vs.FTSE ITALIA STAR 15% 10% 5% 0% -5% -10% -15% -20% -25% -30% -35% -40% -45% -50% -55% -60% -65% -70% 06/07 09/07 12/07 03/08 06/08 09/08 12/08 03/09 06/09 09/09 12/09 03/10 06/10 09/10 12/10 03/11 06/11 09/11 12/
Slide 5: Current shareholding structure
Current shareholding structure Shareholding structure as of 10th August 2012* Treasury shares; 5,60% Alma Ventures**; 32,50% Free float; 24,14% Frankfurter Aktienfonds für Stiftungen; 2,09% 360 Capital One; 2,60% Stefano Rossini; 4,11% Investoren TGV; Index Ventures 20,20% Growth; 8,76% * Share owne
Slide 6: Business portfolio
Business portfolio Broking BPO DIVISION 2011: Rev. € 41.9m EBIT € 23.7m 2011: Rev. € 29.9m EBIT € 7.2m H1 2012: Rev. € 9.4m EBIT € 3.1m H1 2012: Rev. € 10.3m EBIT € -0.3m Multi-brand Multi-brand Multi-brand Mortgage Employee Multi-brand Remote broking of broking of broking of underwriting loan insur
Slide 7: H1 highlights
H1 highlights Revenues EBIT (€m) (€m) 16 14.4 12 Y-o-Y 40 -80.6% 36.2 36 8 Y-o-Y 4 2.8 32 -45.7% 28 0 H1 11 H1 12 24 19.7 20 EBIT margin 40% 14% 16 Net Income* 12 (€m) 8 12 4 9.7 Y-o-Y 0 8 -81.4% H1 11 H1 12 4 1.8 0 H1 11 H1 12 NI margin 27% 9% * Attributable to the shareholders of the Issuer 7
Slide 8: H1 Segment reporting
H1 Segment reporting Revenues EBIT (€m) (€m) 15 14.4 40 36.2 11 Y-o-Y 36 -80.6% Y-o-Y 10.9 -71.3% Y-o-Y 7 XX,X 32 -45.7% 2.8 28 20.8 3 3.5 3.1 Y-o-Y -109.1% 24 -1 -0.3 19.7 H1 11 H1 12 20 Broking Division BPO Division 16 Y-o-Y 9.4 -55.1% 12 15.4 EBIT margin 8 10.3 Y-o-Y 4 -33.0% H1 2011 2011 H1 2012
Slide 9: Revenue breakdown
Revenue breakdown Broking Division Revenues BPO Division Revenues (€m) (€m) 24 20,8 24 20 1.1 0.9 20 Y-o-Y 16 6.2 -55.1% 15.4 16 Y-o-Y 2.2 -33.0% 12 12 9.4 Y-o-Y 10.3 +42.5% 1.6 9.4 8 12.6 0.2 Y-o-Y 8 Y-o-Y -80.5% 5.4 +149.7% 3.0 Y-o-Y 4 -51.0% 4 3.4 Y-o-Y -63.9% 4.5 Y-o-Y 3.8 -64.3% Y-o-Y 1.5 -61.6
Slide 10: Broking Division business update
Broking Division business update • As regards mortgage broking, during the first seven months of 2012, the number of received applications is sharply down, with a contraction comparable to that of the reference market. Conversion rates and average commissions are also subject to slight decreases, li
Slide 11: BPO Division business update
BPO Division business update • In the first half 2012 the revenues of the BPO Division declined by 33% compared to the same period of the previous year. This negative trend, in line with management forecast, directly hit the operating margin of the Division, given the partial rigidity of the cost ba
Slide 12: Appendix
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Slide 13: H1 Profit & loss
H1 Profit & loss (€000) H1 2012 H1 2011 % Var. Rev enues 19,672 36,238 -45.7% Other income 624 326 91.4% Capitalization of internal costs 292 226 29.2% Serv ice costs (6,538) (10,268) -36.3% Personnel costs (9,578) (9,821) -2.5% Other operating costs (956) (1,682) -43.2% Depreciation and amortizatio
Slide 14: Quarterly Profit & loss
Quarterly Profit & loss (€000) Q2 2012 Q1 2012 Q4 2011 Q3 2011 Q2 2011 Rev enues 9,987 9,685 19,514 16,083 20,445 Other income 369 255 175 122 217 Capitalization of internal costs 162 130 142 90 158 Serv ice costs (3,183) (3,355) (4,377) (4,485) (5,021) Personnel costs (4,783) (4,795) (5,263) (4,050
Slide 15: Q2 highlights
Q2 highlights Revenues EBIT (€m) (€m) 10 9.0 8 24 Y-o-Y 6 6.7 -80.9% 20.5 4 20 1.7 Y-o-Y 2 -74.8% Y-o-Y 2.3 1.7 16 -51.2% 0 Y-o-Y Q2 11 Q2 12 11.9 -98.6% 12 10.0 Broking Division BPO Division 8 4.8 Y-o-Y -59.2% EBIT margin 8.6 4 5.2 Y-o-Y -40.0% Q2 2011 2011 Q2 2012 0 Q2 11 Q2 12 Broking Division 56
Slide 16: 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