Moltiply Group S.p.a. · MIL:MOL
Moltiply — Gruppo MutuiOnline — Q4 2012 Earnings Presentation
19 slides from Moltiply's earnings presentation, Mar 14, 2013
Slide 1: Gruppo MutuiOnline Fourth Quarter 2012 Results
Gruppo MutuiOnline Fourth Quarter 2012 Results 14th March 2013
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) – 12th March 2013
Share performance 6 June 2007 (IPO date) – 12th March 2013 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% 4
Slide 5: Current shareholding structure
Current shareholding structure Shareholding structure as of 14th March 2013* * 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 Guderia
Slide 6: Business portfolio
Business portfolio Broking BPO DIVISION 2012: Rev. €17.3m* EBIT €2.9m 2012: Rev. €21.2m EBIT €0.7m Multi-brand Multi-brand Multi-brand Multi-brand Employee broking of broking of broking of Remote Mortgage insurance loan BUSINESS mortgages consumer mortgages broking mortgage underwriting underwriting
Slide 7: Full-year Highlights
Full-year Highlights Revenues EBIT (€m) (€m) 30.9 71.8 Y-o-Y -88.3% Y-o-Y -46.5% 3.6 38.5 EBIT margin 43% 9% Net Income* (€m) 21.0 Y-o-Y -84.0% 3.4 NI margin 29% 9% * Attributable to the shareholders of the Issuer 7
Slide 8: Performance by Division
Performance by Division Revenues EBIT (€m) (€m) 30.9 71.8 Y-o-Y 23.7 -88.3% Y-o-Y Y-o-Y -46.5% 3.6 -87.7% 7.2 2.9 41.9 0.7 Y-o-Y -90.2% 38.5 Broking Division BPO Division Y-o-Y 17.3 -58.8% EBIT margin 29.9 Y-o-Y 21.2 -29.1% 2011 2012 Broking Division 57% 17% BPO Division 24% 3% Total 43% 9% Broking
Slide 9: Historical Revenue Trends
Historical Revenue Trends Broking Division Revenues (€m) 41.9 7% 32.8 5% Group Revenues 2% 31.7 (€m) 11% 5% 24% 27.8 22.7 12% 32% 32% 11% 17.3* 71.8 18% 31% 64% 22% 12.7 6% 2% 61% 61% 18% 71% 30% 57% 76% 45% 53.4 58% 46.3 47.9 37.7 38.5 61% 45% BPO Division Revenues 21.8 (€m) 42% 29.9 39% 55% 14% 20
Slide 10: Historical Profitability
Historical Profitability EBIT (€m) EBIT margin (%) 30.9 70% 59% 61% 63% 60% 57% 57% 21.9 20.9 22.0 50% 45% 17.6 77% 47% 43% 40% 47% 44% 39% 41% 30% 8.5 84% 31% 24% 17% 3.6 20% 28% 26% 23% 9% 80% 10% 17% 23% 9% 16% 20% 3% 0% 2006A 2007A (a) 2008A 2009A 2010A 2011A 2012A Broking Division BPO Division
Slide 11: Evolution of the Italian residential mortgage market
Evolution of the Italian residential mortgage market • The Italian residential mortgage market has recorded a continuous deterioration starting from September 2011, which has led in 2012 to a deep contraction of new flows compared to the previous year. Data from Assofin, an industry association whic
Slide 12: Broking Division business update
Broking Division business update • The financial year ended December 31, 2012 has been marked by a deep drop of the revenues and profitability of the Broking Division, mainly attributable to the collapse of the Italian retail credit market. The insurance broking business, which mostly refers to mand
Slide 13: BPO Division business update
BPO Division business update • Overall, 2012 has been a very difficult year for the BPO Division: with a reduction of revenues of 29.1% compared to 2011 and an operating margin dropping to 3.3% (compared to 24.1% in 2011%). As already discussed and analyzed in the past, this sharp drop has been caus
Slide 14: Dividend Distribution
Dividend Distribution Earnings per share, consolidated Dividends per share (€) (€) * Proposed dividend 14
Slide 15: Appendix
ine po MutuiOn! Grup Appendix
Slide 16: Q4 Profit & loss
Q4 Profit & loss (€000) Q4 2012 Q4 2011 % Var. Rev enues 10,434 19,514 -46.5% Other income 456 175 160.6% Capitalization of internal costs 113 142 -20.4% Serv ice costs (4,459) (4,377) 1.9% Personnel costs (4,983) (5,263) -5.3% Other operating costs (436) 84 -619.0% Depreciation and amortization (42
Slide 17: Quarterly Profit & Loss
Quarterly Profit & Loss (€000) Q4 2012 Q3 2012 Q2 2012 Q1 2012 Q4 2011 Rev enues 10,434 8,356 9,987 9,685 19,514 Other income 456 331 369 255 175 Capitalization of internal costs 113 125 162 130 142 Serv ice costs (4,459) (4,011) (3,183) (3,355) (4,377) Personnel costs (4,983) (3,964) (4,783) (4,795
Slide 18: Q4 Segment reporting
Q4 Segment reporting Revenues EBIT (€m) (€m) 9.7 19.5 Y-o-Y 7.9 -92.8% Y-o-Y -46.5% 0.7 1.8 0.8 12.0 -0.1 10.4 Broking Division BPO Division 4.2 Y-o-Y -65.0% 7.5 EBIT margin 6.2 Y-o-Y -17.1% Q4 2011 2011 Q4 2012 Broking Division 66% 57% -3% BPO Division 24% 24% 13% Broking Division BPO Division Tota
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