MLP – Company Presentation
Reinhard Loose, CFO
Roadshow Zurich
November 17, 2011
Agenda
•Outlook
- •Growth drivers
- •Earnings situation
- Summary
- •Appendix
Target 2012: Operating EBIT margin 15%
MLP Group
EBIT margin
* Before acquisitions and one-offs
Growth in wealth management and health insurance expected
Outlook
|
2
0
1
1 |
2
0
1
2 |
R
O
l
d
i
i
e
v
e
n
u
e
s
:
-a
g
e
p
r
o
v
s
o
n |
|
|
R
W
l
h
M
t
t
e
v
e
n
u
e
s
e
a
a
n
a
g
e
m
e
n
: |
|
|
R
H
l
h
i
t
e
e
n
e
s
e
a
n
s
r
a
n
c
e
v
u
:
u |
|
|
- Further growth in wealth management and health insurance expected in 2011 and 2012
- From a current perspective, stable revenue in old-age provision in 2011 and a slight increase in the following year
- Nevertheless, overall outlook for old-age provision and wealth management remains uncertain due to challenging market environment
Agenda
- •Outlook
- •Growth drivers
- •Earnings situation
- Summary
- •Appendix
Extensive investments initiated
Growth driver: Investment and efficiency programme
- y Targeted strengthening of the MLP brand through an extensive marketing campaign
- y At 16 large locations, all local branches will move into one larger building by the end of 2014
- yStrengthening of new acquisition channels at universities
- yFurther optimisation of workplace processes (e.g. reduction of IT complexity)
- yImproved support through consulting programmes (e.g. in product selection)
- yGreater standardisation and automation of administrative tasks
- yFurther optimisation of processes
- y Even more effective back office support for the consultants (e.g. bundling of consultant services, strengthening of sales-related units)
ÆMore intensive client consulting through optimised consultant support
Significant acceleration of the efficiency programme
Growth driver: Investment and efficiency programme
Forecast: Development of fixed costs
[in € million]
- 2011: One-off exceptional costs of around € 30 million
- Sustainable reduction in the annual fixed costs by a total of at least € 30 million by the end of 2012
MLP and Feri cover the whole market
Growth driver: Wealth management
Page 8 MLP – Company Presentation offering
Successful development of Assets under Management
Growth driver: Wealth management
Assets under Management in the MLP group
[in € billion]
MLP – a broad-based consulting house
Growth driver: Further strengthening of corporate client business
9M: Strong growth in health insurance
Growth driver: Health insurance
Revenue health insurance
[in € million]
- Attractive market conditions through the shortening of the waiting period to change to private health insurance
- Increasing sceptical perception of the statutory healthcare system following
Pressure on social security systems is imminent
Medium term growth driver: Old-age pension provision
Old-age provision market is expected to grow
Medium term growth driver: Old-age pension provision
Money invested in old-age provision products in Germany
[in € trillion]
- •Includes single premium business
- Includes occupational pension business
Source: Allianz, Handelsblatt (September 1, 2010)
Agenda
- •Outlook
- •Growth drivers
- •Earnings situation
- Summary
- •Appendix
9M: Total revenue increased by 2%
EBIT affected by one-offs
Continuing operations
Income statement
[in € million]
|
Q
3
2
0
1
0 |
Q
3
2
0
1
1 |
M
9
2
0
1
0 |
9
M
2
0
1
1 |
|
T
l
t
o
a
r
e
v
e
n
u
e |
1
1
6
0 |
1
1
6
3 |
3
4
8
8 |
3
6
5
5 |
|
E
B
I
T |
8
7 |
2
9 |
1
0
7 |
4
6 |
|
F
i
t
n
a
n
c
e
c
o
s |
0
7 |
0
2 |
0
0 |
0
5
- |
|
E
B
T |
9
4 |
3
0 |
1
7
0 |
4
2 |
|
T
a
x
e
s |
2
5
- |
1
4
- |
4
6
- |
2
8
- |
|
E
i
a
r
n
n
g
s
(
)
t.
c
o
n
o
p
e
r. |
6
8 |
1
6 |
1
2
3 |
1
4 |
|
S
E
P
i
€
n
(
d
i
l
d
)
t
u
e |
0
0
6 |
0
0
2 |
0
1
1 |
0
0
1 |
|
|
|
|
|
|
|
Q3:
- One-offs: € 3.6 m
- Operating EBIT: € 6.5 m
- Net Profit: € 1.7 m
9M:
- One-offs: € 14.1 m
- Operating EBIT: € 18.7 m
- Net Profit: € 2.0 m
9M 2011: Operating EBIT of € 18.7 m
Further reduction of fixed costs in 9M
Fixed costs adjusted for one-offs
[in € million]
Agenda
- •Outlook
- •Growth drivers
- •Earnings situation
- Summary
- •Appendix
Summary
- 9M:
- yTotal revenue above previous year's level (+ 2 %)
- yStrong operating EBIT (+ 10 %)
- yReduction of fixed costs and restructuring measures well on track
- Q4:
- yFurther pick-up in business expected
- Guidance reiterated:
- yOne-offs in 2011 of around € 30m
- yReduction of the fixed cost base by at least € 30m by the end of 2012
- yOutlook 2012: Increase in operating EBIT margin to 15%
Contact
MLP Investor RelationsAlte Heerstr. 4069168 WieslochGermany
Jan Berg, Head of Corporate Communications
Tel.: +49 (0) 6222 308 4595
Fax: +49 (0) 6222 308 1131
[email protected] www.mlp-ag.com