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MLP SE

Investor Presentation • Feb 28, 2013

289_ip_2013-02-28_02dfa8f6-a686-4636-8386-74f7f71a8f5e.pdf

Investor Presentation

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Financial Results 2012

Frankfurt, 28th February 2013

Agenda

  • • Highlights 2012 Dr. Uwe Schroeder-Wildberg, CEO
  • • Business Development 2012 Reinhard Loose, CFO
  • • Strategy, Outlook and Summary Dr. Uwe Schroeder-Wildberg, CEO
  • •Questions & Answers

Financial Results 2012

Dr. Uwe Schroeder-Wildberg, CEO Highlights 2012

Overview 2012

  • • Operating EBIT margin increases by around 40% to 13.0% in 2012 despite difficult market conditions – EBIT margin in the financial services segment: 15.0%
  • • Q4: Total revenue rises by 13% – high growth in wealth management (+55%) and in old-age provision (+9%)
  • • 2012: Total revenue climbs by 4%, EBIT totals € 74.1 million – the highest figure since 2007
  • • Executive Board proposes a dividend of 32 cents per share and highlights the continuity and attractiveness of the dividend policy

Overview 2012

Continuingly difficult market environment

New business: Old-age provision in the market

Not planning to increase level of private old-age provision

Source: German Insurance Association (GDV), own calculations

42%Base: working people in Germany aged 16 and over

Source: Postbank Study "Altersvorsorge in Deutschland 2012/2013"

Foundations for stable future development

Broadening of the business model

  • yExpansion of wealth management
  • yDevelopment of occupational pensions business
  • yImprovement of revenue quality through recurring revenues

Comprehensive efficiency management

  • y Reduction of administration costs by a total of € 60 million
  • without limitation of strategic further development

Improved Profitability

yEBIT margin increased to 13% despite difficult markets

Significantly improved revenue quality

FY 2005 (Revenue from commissions and fees: € 467.9 million)

FY 2012 (Revenue from commissions and fees: € 518.0 million)

Significant increase in the proportion of recurring revenue from around a third in 2005 to more than a half in 2012 – management focus on further improvement

Page 8

Administration costs reduced by € 60 million since 2008

Administration costs*

Financial Results 2012

Reinhard Loose, CFO Business Development 2012

Q4: Total revenue above strong previous year's quarter

Total revenue

2012: Total revenue rises by 4 percent

Total revenue

Significant increase in wealth management

Revenue

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* excluding MLP Hyp

Assets under Management climb to € 21.2 billion

New business

32,600 new clients – high momentum in Q4

New clients Consultants

Administration costs reduced by € 27.4 million since 2010

Development of operating administration costs*

Significant rise in EBIT

* Adjusted for one-off exceptional costs

EBIT margin increases to 13%

MLP Group

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  • EBIT margin Group: 13.0%
  • EBIT margin financial services segment: 15.0%
  • EBIT margin segment Feri: 9.5%

* Previous year's figure adjusted

Strong balance sheet

MLP Group

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  • y Equity ratio: 26.0%
  • y Core capital ratio: 17.2%

*Previous year's figure adjusted

MLP maintains reliable dividend policy

Dividend per share

y 2011: Payment of 30 cents from the operating business and a further 30 cents from surplus liquidity not required for the operating business

Financial Results 2012

Dr. Uwe Schroeder-Wildberg, CEO Strategy, Outlook, Summary

Clearly distinguished competitive position

EFMD Seal of Approval

  • • as one of 17 accredited European Corporate Universities
  • • Seal of quality for innovations and "Best Practice" in training facilities

CFP-accreditation

  • • Corporate University accredited for providing the highest internationally recognised training for financial advisors
  • • Third German University alongside: Frankfurt School of Finance & Management and European Business School in Oestrich-Winkel

FIBAA certification

  • • First establishment to be awarded the "Certified Corporate University" seal of quality
  • • Enables combination of further education in cooperation with state universities
  • • Further enhances the appeal of a position as an MLP consultant

MLP is well equipped for the increasing market regulations

Requirements in the market – regulations for consulting

Increase in productivity through specific support for MLP consultants

Servicecenter MLPdialog

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ÆConsultants' stronger focus on core tasks increases productivity

Extensive potential in wealth management – at MLP and Feri

Outlook 2013

Private and corporate clients as well as institutional investors

  • •Wealth management/Investment management
  • •Risk overlay
  • •Financial advice
  • •Wealth structuring/controlling
  • •Asset protection
  • •Asset liability management

Rating

Feri MLP Wealth Management

Product-independent market assessments

  • •Know-how transfer
  • •Quality check
  • •Fund selection
  • •"Best of" selection
  • •Sustainability list
  • •Closed-end funds

Feri direct mandate

Potential in occupational and private provision

Outlook 2013

Occupational provision by international comparison (multiple responses possible)

Private Provision: Further subsidies planned with the Old-Age Provision Improvement Act

  • • "Rürup" pension: Raising of the maximum subsidy limits from € 20,000 (married couples: 40,000) to € 24,000 (€ 48,000)
  • • State subsidy for specific insurance against disability

Sources: Fidelity Worldwide Investment, May 2012

Nursing care as a future growth sector – positive response to "Pflege-Bahr"

Outlook 2013

Private provision for long-term nursing care is –

Introduction of a subsidised supplementary insurance is –

MLP Health Report 2012/13 – representative survey of 2,100 citizens

MLP expects EBIT to range between € 65 and € 78 million

Outlook 2013 to 2015 – in each case compared to the previous year

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  • •Continuation of the strict cost management
  • • If necessary, temporarily higher expenditure – either for important future investments or for one-off initial costs in order to ease future expenditure requirements
  • • Outlook: EBIT of between € 65 and € 78 million in the financial years 2013 to 2015 – depending on the respective market development

Summary

  • • MLP had avery successful financial year 2012 and further improved all key figures
  • • 2012 demonstrated the importance of the early implementation of the efficiency programme and the broadening of the business model
  • • MLP is benefitting from the strengthening of the wealth management and occupational pension businesses and will further increase the proportion of recurrent revenues
  • • For the financial years 2013 to 2015 MLP expects high stability and forecasts that EBIT will be in the € 65 to € 78 million range

Financial Results 2012

Questions & Answers

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