Virtual Roadshow Bankhaus Metzler Reinhard Loose, CFO
September 29, 2021
Agenda
- MLP at a glance
- Strategy
- Appendix: Business Performance H1 2021
MLP SE: Strong foundation for future growth
MLP SE: Attractive dividend policy & valuation
Sustainable Investment Opportunity – ESG Prime Rating
- In 2020, MLP achieves "Prime" status for the firsttime
- The MLP share is therefore suitable for sustainable funds
- The MLP Group is supporting all United Nations Sustainable Development Goals (SDGs)
- Additional information can be viewed under:https://mlp-se.com/sustainability/
Consideration of ecological and social aspects as well as the principles of good corporate governance
*The MLP Group is supporting all of the 17 Sustainable Development Goals (SDG) of the United Nations for sustainable development. Our focus at the moment is on the aforementioned goals.
Agenda
- MLP at a glance
- Strategy
- Appendix: Business Performance H1 2021
Targeted diversification of the business model
Occupational pension provision Wealth management
2004
Foundation of the Occupational Pension Provision division, incl. acquisition of BERAG
2008
Acquisition of TPC
2006 MLP acquires shares in FERI AG 2011 MLP acquires all shares in FERI AG
Start of real
2011 Start of real estate portfolio
2014 Expansion of real estate portfolio
estate business Non-life insurance
2015 MLP takes over DOMCURA Massive expansion of real estate operations
2019 MLP acquires majority shareholding in DEUTSCHLAND.Immobilien
Industrial insurance
2021
MLP acquires industrial insurance broker RVM
RVM: Establishing the broker group at eye level with the top ten
* Market assessment by MLP
Strategic value creation within the MLP Group accelerating
brokers Further added value for MLP's private client business:
- Indirect support through brand and know-how transfer
- Direct support for consulting processes by specialists
- Processing benefits for consultants and clients
Further added value for Group companies:
- Increased client base
- Increased volume
- Economies of scale
Tangible added value based on shared and deeper value creation
Significant further development within the MLP Group
*Including positive one-off contribution of € 4.0 million through sale of Feri Fund Market Information Ltd and subsidiary FI Datenservice GmbH
- Each Group company has its own strong business model and there is also potential in the interaction
- Revenue synergies successfully realized by leveraging value creation at MLP
An overview of growth areas for 2022
Growth in sales revenue across various fields of consulting 2 4
- Renewed increase in occupational pension provision following negative impacts, above all in the previous year (COVID-19)
- Continuous organic growth in the non-life insurance business
Project business DEUTSCHLAND.Immobilien
Significant increase in project volume planned: At least 10 projects p.a. in the pipeline from 2021 onwards
Still EBIT of € 75 to 85 million for 2022 planned
EBIT performance
0 10 20 30 40 50 60 70 80 90 EBIT 2020 Young segment Revenue growth incl. real estate Industrial broker EBIT target 2022 75-85 9-11 4-6 7-9 59.4 Strict cost management – administration costs rise only slightly
In € million
Digitalisation of the Group further progressing
Agenda
- MLP at a glance
- Strategy
- Appendix: Business Performance H1 2021
Highlights of H1/Q2 2021
- At € 31.4 million after the first six months of the year, EBIT is significantly above the previous year's level, increase also recorded in Q2
- Total revenue rises significantly in H1 (+17 %) reaching a new all-time high of € 421.8 million, record gains in Q2 (+21 %)
- H1: Revenue increases in all consulting fields, above all in the fields of real estate brokerage (+39 %) and wealth management (+33 %)
- At € 51.4 billion, assets under management surpass the € 50 billion mark for the first time
- Forecast for 2021: Upper end of the communicated EBIT corridor of € 55 to 61 million expected – Planning for 2022 confirmed
Rise in total revenue by 17 % (H1) and 21 % (Q2)
H1 total revenue
Each as at June 30
Growth in all consulting fields
Revenue H1 and Q2
Previous year's values in brackets * Excluding MLP Hyp
Positive development of key figures
Assets under management Non-life insurance portfolio volume
As of December 31, Q2 as of June 30
*incl. first-time consolidation of RVM Group
H1: EBIT at € 31.4 million
Income statement
in € million
|
Q2 2020 |
Q2 2021 |
H1 2020 |
H1 2021 |
| Total revenue |
165.3 |
200.4 |
359.0 |
421.8 |
| EBIT |
8.1 |
9.6 |
18.8 |
31.4 |
| Finance cost |
0 |
-0.8 |
-1.0 |
-1.7 |
| EBT |
8.1 |
8.8 |
17.8 |
29.7 |
| Taxes |
-2.5 |
-3.4 |
-4.7 |
-8.5 |
| Net profit |
5.6 |
5.4 |
13.1 |
21.2 |
EPS in €
(diluted/basic) |
0.05 |
0.05 |
0.12 |
0.19 |
Significant EBIT effects in Q2:
- Q2/2020: One-off earnings contribution of € 3.4 million for a VAT refund
- First-time consolidation of RVM with an EBIT effect of € -1.1 million
- Increased consulting expenses
Strong balance sheet
in €
million |
Assets |
Dec 31, 2020 |
June 30, 2021 |
| Excerpt |
Intangible assets |
178.9 |
222.7 |
|
Financial assets |
197.6 |
207.4 |
|
Receivables from clients in the banking business |
880.6 |
913.2 |
|
Receivables from banks in the banking business |
751.5 |
588.5 |
|
Other receivables and assets |
199.8 |
198.1 |
|
Cash and cash equivalents |
859.0 |
1,209.1 |
|
Liabilities and shareholders' equity
Shareholders' equity |
454.0 |
450.1 |
|
Provisions |
115.8 |
103.9 |
|
Liabilities due to clients in the banking business |
2,271.9 |
2,507.4 |
|
Liabilities due to banks in the banking business |
107.5 |
120.5 |
|
Other liabilities |
265.7 |
302.4 |
|
Total |
3,235.0 |
3,513.5 |
Equity ratio: 12.8%
Return on equity: 4.7%
Core capital ratio: 18.5%
Net liquidity: € 149 million
Number of consultants above previous year
Number of client consultants
Year-on-year trend in consultant numbers
Number of family clients increases to 557,100
Family clients Corporate and institutional clients
*incl. first-time consolidation of RVM Group
Qualitative assessment of revenue development Earnings performance (EBIT)
EBIT 2021 at the upper end of the corridor expected
- Further increase in revenue and profit in the first half year providing a positive impetus for the rest of the year
- MLP benefits from a broad base and networking of diverse perspectives and areas of expertise within the Group
- Optimistic outlook for the second half of the year the Group also remains on course in terms of its 2022 planning
Thanks for your attention!
If you have any questions, please do not hesitate to contact us.