MPC Munchmeyer Petersen Capital AG · XETR:MPCK
MPC Munchmeyer Petersen Capital — MPC Capital — Investor Presentation (September 2020)
25 slides from MPC Munchmeyer Petersen Capital's investor presentation, September 2020
Slide 1: MPC Capital AG
MANAGING REAL ASSETS |→ |→ 09 04 // 2020 2019 MPC CAPITAL AG
Slide 2: Agenda
MANAGING REAL ASSETS |→2 MPC CAPITAL AG AGENDA 1. INTRODUCTION 3 2. BUSINESS MODEL 6 3. STRATEGY AND GROWTH OBJECTIVES 13 4. FINANCIALS 17 5. APPENDIX 22 This presentation and the information contained herein (“the Presentation”) have been compiled with meticulous care and to the best of our knowled
Slide 3: MPC Capital AG at a Glance
ASSET LIGHT MANAGEMENT SERVICES COMBINED WITH FOCUSED INVESTMENT APPROACH |→3 MPC CAPITAL AG AT A GLANCE BUSINESS OVERVIEW COMPANY STRUCTURE + Asset Manager and Co-Investor focused on niche areas in selected real asset markets Total AuM1): €4.3bn > 360 assets + €4.3bn AuM 1), thereof €3.4bn in new i
Slide 4: Capital Market Profile
PUBLICLY LISTED SINCE 2000 WITH LONG-TERM COMMITMENT BY FOUNDING SHAREHOLDER MPC GROUP |→4 CAPITAL MARKET PROFILE SHAREHOLDER STRUCTURE SHARE PRICE AND MARKET CAP 8.0 8% 6.0 MPC Group 33.5m Freefloat 4.0 shares 48% 44% Thien & Heyenga Market cap (in €m) 2.0 Freefloat Market cap (in €m) 42 Share pric
Slide 5: Introduction
|→5 1. INTRODUCTION 3 2. BUSINESS MODEL 6 3. STRATEGY AND GROWTH OBJECTIVES 13 4. FINANCIALS 17 5. APPENDIX 22
Slide 6: Asset Light Business Model
INTEGRATED ASSET MANAGER AND CO-INVESTOR WITH FOCUS ON SELECTED NICHE AREAS IN REAL ASSET MARKETS |→6 ASSET LIGHT BUSINESS MODEL RECURRING FEES FROM DEAL-DRIVEN TRANSACTION ATTRACTIVE RETURNS FROM MANAGEMENT SERVICES BUSINESS CO-INVESTMENTS + Focus on demand and concept driven strategies + Scalable
Slide 7: Diversified Income Streams from Asset Management and Investments
DIVERSIFIED INCOME STREAMS FROM HANDS-ON ASSET MANAGEMENT SERVICES AND INVESTMENTS |→7 FEE AND INCOME GENERATION SOURCING/ MANAGEMENT EXIT STRUCTURING Unique access to Efficient and high-quality operational services Extensive experience in developing highly attractive assets Additional value creatio
Slide 8: Asset Management: Three Core Asset Segments
STRONG VALUE PROPOSITION ALONG THE VALUE CHAIN IN THREE CORE ASSET SEGMENTS |→8 1 ASSET MANAGEMENT CURRENT REAL ESTATE SHIPPING INFRASTRUCTURE + Residential + Container vessels + Renewable energy PLATFORMS + Commercial + Bulk carriers + Tankers OPERATIONS + Investment, asset and property + Fully int
Slide 9: Investments: Investment Portfolio Significantly Increased
INVESTMENT PORTFOLIO OF MPC CAPITAL AG HAS SIGNIFICANTLY INCREASED OVER THE LAST FOUR YEARS |→9 2 INVESTMENTS FINANCIAL ASSETS CO-INVESTMENT PORTFOLIO ALLOCATION As per 30 Jun 2020 (Book value in €m) Excl. minorities (in %) 3.0 Equity Investments 17% Real Estate 23.4 Other loans 41.0 Investment Secu
Slide 10: Projects Initiated for Institutional Clients
MPC CAPITAL INITIATED PROJECTS FOR INSTITUTIONAL CLIENTS | → 10 TRACK RECORD INSTITUTIONAL AUM BRIDGE SINCE 2016 (IN €BN) 3.5 +0.3 3.4 -0.2 +1.2 -0.2 +1.0 +0.8 2.6 2.4 2.3 +0.3 +0.1 -0.3 +0.8 -0.8 1.7 -0.2 -1.2 -0.1 2016 2017 2018 2019 HY 2020 Institutional AuM Additions Revaluation Disposals DEAL F
Slide 11: Project Pipeline
VISIBLE GROWTH THROUGH DETAILED PROJECT SHORT-LIST OF €1.3BN | → 11 PROJECT PIPELINE REAL ESTATE SHIPPING INFRASTRUCTURE Stage Volume (€m) Short List (%) Stage Volume (€m) Short List (%) Stage Volume (€m) Short List (%) SPA 40 6% SPA 8 0% SPA 7 2% Negotiations 403 58% Negotiations 231 70% Negotiatio
Slide 12: Strategy and Growth Objectives
| → 12 1. INTRODUCTION 3 2. BUSINESS MODEL 6 3. STRATEGY AND GROWTH OBJECTIVES 13 4. FINANCIALS 17 5. APPENDIX 22
Slide 13: Growth in AuM Leads to Profitable Growth in Recurring Fees
GROWTH IN AUM LEADS TO PROFITABLE GROWTH IN RECURRING MANAGEMENT FEES | → 13 STRATEGY AND GROWTH OBJECTIVES INCREASE ASSETS UNDER MANAGEMENT 1 Target new institutional assets p.a. €0.5-1.0bn AuM Retail vs. Institutional + Continuous net growth in institutional assets with regular disposals + Linear
Slide 14: Strong Cash Proceeds from Business and Investment Activities
STRONG CASH PROCEEDS FROM PROFITABLE BUSINESS AND INVESTMENT ACTIVITIES | → 14 STRATEGY AND GROWTH OBJECTIVES ADDITIONAL INCOME FROM INVESTMENT 3 Target blended IRR 15% ACTIVITIES MPC Capital investment portfolio + Proceeds from capital increases in 2016 and 2018 were used to ramp up co-investment s
Slide 15: Growth Objectives and Financial Targets
MPC’S MAIN OBJECTIVE IS TO BECOME A LEADING MANAGER FOR REAL ASSETS IN SELECTED MARKETS | → 15 STRATEGY AND GROWTH OBJECTIVES GROWTH OBJECTIVES FINANCIAL TARGETS 1 Increase assets under management +€0.5 - 1.0bn new AuM p.a. at improved margins 2 Leverage existing platform EBT margin > 30% > 3 Income
Slide 16: Financials
| → 16 1. INTRODUCTION 3 2. BUSINESS MODEL 6 3. STRATEGY AND GROWTH OBJECTIVES 13 4. FINANCIALS 17 5. APPENDIX 22
Slide 17: Assets Under Management: Institutional vs. Retail
CROSSOVER DECEMBER 2019 TO JUNE 2020: INSTITUTIONAL VS. RETAIL BUSINESS | → 17 ASSETS UNDER MANAGEMENT (IN €BN) 0.3 -0.1 4.5 0.3 -0.2 0.0 COMMENTS -0.3 -0.2 4.3 -0.2 1.0 + Institutional business accounts for 79% of (22%) 0.9 total AuM (21%) + Assets attributable to institutional business in the amou
Slide 18: H1 2020 Key Financials – P&L Highlights
INCREASE IN RECURRING MANAGEMENT FEES | → 18 H1 2020 KEY FINANCIALS – P&L HIGHLIGHTS REVENUE EBT COMMENTS in €m in €m + Revenue growth and improved operating profitability in challenging market environment 24.8 + Solid growth in asset management and 2.4 20.0 transaction business 2.4 1.8 0.2 + Operat
Slide 19: H1 2020 Key Financials – Earnings Before Tax
POSITIVE EBT H1 2020 REFLECTING IMPROVED OPERATING PROFITABILITY DESPITE COVID-19-RELATED WRITE-DOWNS | → 19 H1 2020 KEY FINANCIALS – EARNINGS BEFORE TAX EARNINGS BEFORE TAX - BRIDGE H1 2019 – H1 2020 COMMENTS + Management Services: Significant increase in revenues from ship management services refl
Slide 20: Balance Sheet & Guidance FY 2020
STRONG BALANCE SHEET TO SUPPORT FUTURE GROWTH | → 20 H1 2020 KEY FINANCIALS – BALANCE SHEET & GUIDANCE FY 2020 EQUITY BALANCE SHEET STRUCTURE COMMENTS in €m in €m 151.2 + Returns from equity investments and impairment adjustments lead to decline 139.6 in financial assets + High equity ratio of 76% p
Slide 21: Appendix
| → 21 1. INTRODUCTION 3 2. BUSINESS MODEL 6 3. STRATEGY AND GROWTH OBJECTIVES 13 4. FINANCIALS 17 5. APPENDIX 22
Slide 22: Financial Performance 2015 - 2020
P&L AND BALANCE SHEET | → 22 FINANCIAL PERFORMANCE 2015 - 2020 INCOME STATEMENT (in €m) FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 HY 2019 HY 2020 Revenue 47.8 53.8 47.3 42.7 46.8 20.0 24.8 Other operating income 8.6 11.9 22.7 12.5 9.7 3.9 4.4 Cost of materials / Cost of purchased services (in €m) Reve
Slide 23: Financial Assets as of 30 June 2020
BALANCE SHEET | → 23 FINANCIAL ASSETS AS OF 30 JUNE 2020 CO-INVESTMENT PORTFOLIO Financial Current MPC Description Minorities Assets Assets Investment Real Estate 27.7 0.4 (3.1) 25.0 Bajes Kwartier Residential development project in Amsterdam 5.5 - - 5.5 InTheCity Fund Dutch core office property fun
Slide 24: Management Team
| → 24 MANAGEMENT TEAM SUPERVISORY BOARD DR. AXEL SCHROEDER JOACHIM LUDWIG DR. OTTMAR GAST Chairman of the Supervisory Board Member of the Supervisory Board Member of the Supervisory Board since 2015 since 2015 since 2018 Previously 15 years as CEO Executive Board member Chairman of the Advisory Boa
Slide 25: Investor Relations
IR CONTACT, TRADING INFORMATION & FINANCIAL CALENDAR | → 25 INVESTOR RELATIONS CONTACT FINANCIAL CALENDAR 2020 STEFAN ZENKER + 20 FEBRUARY 2020 HEAD OF INVESTOR RELATIONS Publication of Annual Report 2019 MPC MÜNCHMEYER PETERSEN CAPITAL AG + 14 MAY 2020 Palmaille 67 Press release Q1 key figures 2276