Moltiply Group S.p.a. · MIL:MOL
Moltiply — Gruppo MutuiOnline — Q4 2010 Earnings Presentation
17 slides from Moltiply's earnings presentation, Mar 11, 2011
Slide 1: Gruppo MutuiOnline Fourth Quarter 2010 Results
Gruppo MutuiOnline Fourth Quarter 2010 Results 11th March 2011
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 •Group Chairman Chairman and and Head Head of of Broking Broking Division Division •Founder •Founder and and key key shareholder shareholder (16.25% (16.25% indirectly indirectly through through Alma Alma Ventures Ventures SA) SA) •Background •Background in in consulting cons
Slide 4: Share performance 6 June 2007 (IPO date) – 10th March 2011
gi u/ 0 0 100 200 300 400 500 600 700 800 900 1.000 lu 7 g/ ag 7 0 o/ 0 ot 7 t/ no 0 7 v/ g e 07 n/ 0 fe 8 b/ m 08 ar m /08 ag /0 gi 8 u/ 0 lu 8 g/ 08 se t/ 0 ot 8 t/ no 0 8 v/ g e 08 n/ 0 fe 9 b/ ap 9 0 r m /09 ag /0 lu 9 Volumes ('000 shares) g/ ag 0 9 o/ 0 se 9 t/ 0 ot 9 t/ 09 di Price c/ g e 09
Slide 5: Current shareholding structure
Current shareholding structure Shareholding structure as of 10th March 2011* Treasury shares; 4,78% Free float ; 21,57% Alma Ventures**; 32,50% 360 Capital One; 2,60% Stefano Rossini; 4,32% Parvus Asset Capital Research & Management (UK) LLP; Management Company; 10,34% 4,97% Index Vent ure Growt h;
Slide 6: Business portfolio
Business portfolio Broking Broking BPO BPO DIVISION DIVISION 2010: 2010: Rev. €32,8m EBIT Rev. €32,8m EBIT €18,6m €18,6m 2010: 2010: Rev. €20,6m EBIT Rev. €20,6m EBIT €3,4m €3,4m Multi-brand Multi-brand Multi-brand Multi-brand Multi-brand Multi-brand Multi-brand Multi-brand Employee Employee broking
Slide 7: Full-year Highlights
Full-year Highlights Revenues EBIT (€m) (€m) 25 Y-o-Y 22,0 20,9 +5.2% 53,4 20 55 Y-o-Y 15 50 47,9 +11.6% 10 45 5 40 0 35 2009 2010 30 EBIT EBIT margin margin 44% 44% 41% 41% 25 20 Net Income 15 (€m) 10 15,5 Y-o-Y 15 14,4 +7.5% 5 0 10 2009 2010 5 0 2009 2010 NI NI margin margin 30% 30% 29% 29% 7
Slide 8: Performance by Division
Performance by Division Revenues EBIT (€m) (€m) 25 Y-o-Y 22,0 20,9 +5.2% 20 55 53,4 Y-o-Y 15 Y-o-Y +11.6% 19,4 18,6 -4.3% 50 47,9 10 45 5 Y-o-Y 40 3,4 +129.2% 0 1,5 32,8 Y-o-Y 35 +3.6% 2009 2010 30 31,7 Broking Division BPO Division 25 20 15 Y-o-Y EBIT margin 20,6 +27.3% 10 16,2 5 2009 2010 2009 201
Slide 9: Historical Revenue Trends
Historical Revenue Trends Broking Division Revenues (€m) CAGR 32,8 35,0 +27% 2% 31,7 Group Revenues 11% 5% 30,0 27,8 (€m) 12% 25,0 22,7 32% 32% CAGR +25% 11% 53,4 20,0 31% 12,7 18% 55 47,9 46,3 15,0 50 6% 18% 61% 10,0 57% 61% 45 37,7 71% 40 5,0 76% 35 61% 0,0 60% 66% 30 2006A 2007A 2008A 2009A 2010A
Slide 10: Historical Profitability
Historical Profitability EBIT (€m) EBIT margin CAGR +27% (%) 24 22,0 21,9 20,9 70% 61% 63% 20 59% 17,6 60% 57% 16 50% 47% 45% 47% 78% 84% 40% 39% 44% 41% 12 93% 76% 31% 8,5 30% 8 28% 67% 20% 26% 17% 4 10% 24% 22% 16% 33% 7% 9% 0 0% 2006A 2007A (a) 2008A 2009A 2010A 2006A 2007A (a) 2008A 2009A (b) 20
Slide 11: Broking Division business update (1/2)
Broking Division business update (1/2) •• In In 2010 2010 the the Broking Broking Division Division was was basically basically stable, stable, suffering suffering fromfrom a a steep steep decrease decrease in in demand demand from from April April toto July, July, which which was was followed follo
Slide 12: Broking Division business update (2/2)
Broking Division business update (2/2) •PrestitiOnline •PrestitiOnline Business Line: Revenues Business Line: Revenues of of the the PrestitiOnline PrestitiOnline Business Business Line Line rose rose from from Euro Euro 10.2 10.2 million million inin 2009 2009 to to Euro Euro 10.6 10.6 million mill
Slide 13: BPO Division business update (1/2)
BPO Division business update (1/2) •Year •Year 2010 2010 brought brought a a clear clear recovery recovery for for the the BPOBPO Division, Division, following following the the business business contraction contraction of of 2009. 2009. Revenues Revenues are are nownow back back up up toto higher h
Slide 14: BPO Division business update (2/2)
BPO Division business update (2/2) •• FEC FEC and and CEI CEI Business Business Lines:Lines: Revenues Revenues of of the the CEI CEI Business Business Line Line grew grew fromfrom EuroEuro 7.3 7.3 million million in in 2009 2009 to to Euro Euro 11.5 11.5 million million inin 2010 2010 (+57.6%), (+57
Slide 15: Q4 highlights
Q4 highlights Revenues EBIT (€m) (€m) 8 7,6 18,5 Y-o-Y 6,1 +26.1% 16 Y-o-Y 6 +35.8% 13,6 4 2 12 0 Q4 09 Q4 10 EBIT EBIT margin margin 45% 45% 35% 35% 8 Net Income 4 (€m) 5,4 5 Y-o-Y 4,1 +32.9% 4 0 3 Q4 09 Q4 10 2 1 0 Q4 09 Q4 10 NI NI margin margin 30% 30% 29% 29% 15
Slide 16: Quarterly Profit & Loss
Quarterly Profit & Loss (€000) Q4 2010 Q3 2010 Q2 2010 Q1 2010 Q4 2009 Revenues 18.451 11.031 12.562 11.386 13.590 Other income 137 121 171 159 145 Capitalization of internal costs 91 78 103 77 101 Service costs (5.629) (3.488) (3.263) (2.738) (3.000) Personnel costs (3.555) (3.077) (3.547) (3.173)
Slide 17: 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