Annual Analyst and Investor Conference 2021
Wiesloch, February 25, 2021
Highlights FY 2020
- FY 2020: Total revenue up 8.3 percent, setting a new record at € 767.3 million growth for seventh year in succession
- Gains recorded in all key figures MLP is benefiting from its diversification strategy of the last few years
- Earnings before interest and taxes (EBIT) of € 59.4 million, up 26 percent on the previous year despite coronavirus effects and ongoing investments
- Executive Board proposes a dividend of 23 cents per share (2019: 21 cents)
- MLP records a net increase of more than 100 consultants the first time since 2006 important foundation for future growth
- Planning for 2022 confirmed: EBIT increase to € 75 to 85 million
MLP successfully mastered 2020, a year characterised by the coronavirus pandemic
FY 2020: Total revenue reaches new all-time high
Total revenue FY
* Previous year's values adjusted
FY 2020: Wealth management with the highest share of revenue
Revenue 2020
In € million
Previous year's values in brackets * Excluding MLP Hyp
Growth in family clients, as well as corporate and institutional clients
Family clients Corporate and institutional clients
Each as at December 31
FY 2020: EBIT increased significantly
Income statement
In € million
|
Q4 2019 |
Q4 2020 |
2019 |
2020 |
|
| Total revenue |
221.4 |
242.0 |
708.8 |
767.3 |
|
| EBIT |
28.2 |
32.6 |
47.1 |
59.4 |
|
| Finance cost |
-1.6 |
-1.2 |
-2.3 |
-3.0 |
|
| EBT |
26.6 |
31.4 |
44.8 |
56.3 |
|
| Taxes |
-4.9 |
-6.5 |
-7.8 |
-13.1 |
|
| Net profit |
21.7 |
24.9 |
36.9 |
43.2 |
|
EPS in €
(diluted/basic) |
0.20 |
0.23 |
0.34 |
0.40 |
|
- At revenue level, performance-linked compensation for 2020 amounted to € 34 million
- One-time sales tax refund of € 3.4 million received
- Gross investments of around € 11 million made in the young segment in 2020
Return on equity increased to 9.9 Percent
In €
million |
Assets |
Dec. 31, 2019 |
Dec. 31, 2020 |
|
Intangible assets |
183.1 |
178.9 |
|
Financial assets |
178.6 |
197.6 |
|
Receivables from clients in the banking business |
872.2 |
880.6 |
|
Receivables from banks in the banking business |
728.1 |
751.5 |
|
Other receivables and assets |
168.6 |
199.8 |
|
Cash and cash equivalents |
510.8 |
859.0 |
|
Liabilities and shareholders' equity
Shareholders' equity |
437.4 |
454.0 |
|
Provisions |
101.6 |
115.8 |
|
Liabilities due to clients in the banking business |
1,894.8 |
2,271.9 |
|
Liabilities due to banks in the banking business |
98.4 |
107.5 |
|
Other liabilities |
250.6 |
265.7 |
|
Total |
2,799.6 |
3,235.0 |
Equity ratio: 14.0 %
Return on equity: 9.9 %
Core capital ratio: 21.3 %
Net liquidity € 197 million
Executive Board proposes dividend of 23 cents per share
* Based on the operating net profit. ** Subject to approval by supervisory board and the Annual General Meeting.
Targeted diversification of the business model
Occupational pension provision Wealth management
2006
2011
FERI AG
in FERI AG
MLP acquires shares in
MLP acquires all shares
2004
Foundation of the Occupational Pension Provision division, incl. acquisition of BERAG
2008
Acquisition of TPC
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
MLP acquires majority shareholding in DEUTSCHLAND.Immobilien
Massive expansion of real estate operations
2019
Industrial insurance
2021
MLP acquires industrial insurance broker RVM
Positive development of key figures
Assets under management Non-life insurance premium volume
Each as at December 31
Significant further development within the MLP Group
• 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
*Including positive one-off contribution of € 4.0 million through sale of Feri Fund Market Information Ltd and subsidiary FI Datenservice GmbH
Targeted value creation in the MLP Group
Further value creation 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 value creation for Group companies:
- Increased client base
- Increased volume
- Economies of scale
Tangible added value through joint and deeper value creation
RVM: Establishing the broker group at eye level with the top ten
* Market assessment by MLP
Offer planned for back office services
Digital administration
MLP scales infrastructure to be even more proactive as an interface between market members and insurers
2021 forecast – EBIT anticipated in the high range as the previous year
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
In € million
- Planning for 2021 and 2022 anticipates significantly lower performance-linked compensation compared to 2020
- Decline to be more than compensated by growth in other consulting fields – above all real estate
Summary
- MLP builds on positive development of previous years: significant growth in both revenue and earnings in 2020 – despite challenges associated with the coronavirus pandemic
- Successful diversification and networking: Scope of services offered by MLP consultants significantly extended and further market segments developed through acquisitions
- We have laid the foundation to take MLP to the next level in terms of profit
- Mid-term planning confirmed: EBIT to rise to € 75 to 85 million by the end of 2022
Many thanks for your time!