Moltiply Group S.p.a. · MIL:MOL
Moltiply — Gruppo MutuiOnline — Q1 2014 Earnings Presentation
19 slides from Moltiply's earnings presentation, May 13, 2014
Slide 1: Gruppo MutuiOnline First Quarter 2014 Results
Gruppo MutuiOnline First Quarter 2014 Results 13th May 2014
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 June 2007 (IPO date) – 9th May 2014
Share performance 6 June 2007 (IPO date) – 9th May 2014 25% 20% 15% 10% 5% 0% -5% -10% -15% -20% -25% -30% -35% -40% -45% -50% -55% -60% -65% -70% MOL Total Return vs. MOL vs.FTSE ITALIA STAR 4
Slide 5: Current shareholding structure
Current shareholding structure Shareholding structure as of 13th May 2014 * * Share ownership as communicated to the company by relevant investors according to CONSOB regulations; includes all investors above 2% ownership threshold. ** The share capital of Alma Ventures S.A. is owned 50% by Guderian
Slide 6: Business portfolio
Business portfolio 2013 Divisions 2013 Revenues € 20.5 M Revenues € 30.5 M EBIT €1.8 M Broking BPO EBIT €3.8 M Division Division Business Lines Multi-brand broking of Commercial, Underwriting and mortgages through remote € 8.3 M € 13.1 M Portfolio Services for Mortgages channels and agents MutuiOnli
Slide 7: Broking Division – Top Brands/Services 1/2
Broking Division – Top Brands/Services 1/2 BRAND DESCRIPTION MARKET POSITION OPERATIONS REVENUE MODEL Online Mortgage Leader in online Experienced telephone Commission from Broker (vertical mortgage consultants provide lenders on closed specialist), distribution since independent advice and mortgage
Slide 8: Broking Division – Top Brands/Services 2/2
Broking Division – Top Brands/Services 2/2 BRAND DESCRIPTION MARKET POSITION OPERATIONS REVENUE MODEL Online Insurance Legacy brand as Mostly technology based Fee on new policy sales Broker (vertical customer lead generation, provides plus (lower) renewal specialist), acquisition for customer suppor
Slide 9: BPO Division – Main Services
BPO Division – Main Services PRODUCT LIFE CYCLE DISTRIBUTION UNDERWRITING/CLOSING SERVICING • Commercial activities for online • Income Analysis • Current Account Servicing Mortgage lenders (in lenders’ name) • Technical-Legal Analysis • Collections BPO • Centralized packaging • Anti-fraud checks •
Slide 10: Q1 highlights
Q1 highlights Revenues EBIT (€m) (€m) 2.6 Y-o-Y +779.4% 15.1 0.3 Y-o-Y +42.5% 10.6 EBIT margin 3% 17% Net Income* (€m) 1.3 Y-o-Y +1119.1% 0.1 NI margin 1% 8% * Attributable to the shareholders of the Issuer 10
Slide 11: Q1 Segment reporting
Q1 Segment reporting Revenues EBIT (€m) (€m) 2.6 Y-o-Y Y-o-Y +779.4% 0.7 N/A% 15.1 0.3 2.9 1.9 Y-o-Y Y-o-Y 0.6 +213.0% +42.5% Y-o-Y -0.3 10.6 5.3 +15.7% 4.6 Broking Division BPO Division Y-o-Y 9.7 +63.3% 5.9 EBIT margin Q1 2013 2013 Q1 2014 Broking Division -7% 9% 13% Broking Division BPO Division B
Slide 12: Evolution of the Italian residential mortgage market
Evolution of the Italian residential mortgage market • The Italian residential mortgage market has finally stabilized, even if the outlook for recovery remains uncertain. • Data from Assofin, an industry association which represents the main lenders active in the sector, after recording a decrease o
Slide 13: Evolution of the Italian Motor TPL insurance market
Evolution of the Italian Motor TPL insurance market • The Group operates as an insurance broker, mainly in the branch of Motor TPL and in other risks related to vehicles. As this area of activity now contributes a significant portion of the revenues of the Broking Division, we consider it appropriat
Slide 14: Broking Division business update
Broking Division business update • Within the Broking Division, in Q1 2014, compared to Q1 2013, credit broking revenues show very slow growth while insurance broking revenues display more robust growth. • With respect to the Business Lines active in credit broking (Mortgage Broking and Consumer Loa
Slide 15: BPO Division business update
BPO Division business update • The BPO Division shows an increase of revenues and margins compared to Q1 2013. This trend, positive overall, is however the result of contrasting performances of the different business lines. • First of all, the revenues of the Mortgage BPO (former FEC+CEI) business l
Slide 16: Appendix
™ Grup ine PO MutuiOnl Appendix
Slide 17: Q1 Profit & loss
Q1 Profit & loss (€000) Q1 2014 Q1 2013 % Var. Rev enues 15,050 10,562 42.5% Other income 544 305 78.4% Capitalization of internal costs 161 98 64.3% Serv ice costs (5,644) (5,065) 11.4% Personnel costs (6,496) (4,863) 33.6% Other operating costs (588) (355) 65.6% Depreciation and amortization (424)
Slide 18: Quarterly Profit & Loss
Quarterly Profit & Loss (€000) Q1 2014 Q4 2013 Q3 2013 Q2 2013 Q1 2013 Rev enues 15,050 14,238 12,423 13,834 10,562 Other income 544 510 255 158 305 Capitalization of internal costs 161 478 107 139 98 Serv ice costs (5,644) (5,424) (4,566) (4,805) (5,065) Personnel costs (6,496) (7,201) (5,399) (6,1
Slide 19: 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