MLP – Company Presentation
Reinhard Loose, CFO
JP Morgan Insurance Mini Conference
June 17, 2011
- •Business model
- •Highlights 2010
- •Q1 2011
- Outlook and summary
- •Appendix
MLP – a broad-based consulting house
Corporate data at a glance
The MLP Group
- y Independent financial services and wealth management consulting company
- yFounded in 1971
- y778,000 private clients
- yMore than 4,000 corporate clients
- y 19.9 billion Euros assets under management
- y Around 1,600 employees and more than 2,200 financial consultants
Unique business model
Private clients
One stop for lifetime financial solutions
Phases in life
FY 2010: Earnings situation improved significantly
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Dividend increases to 30 cents per share
Dividend per share
[in cents]
• Total dividend sum € 32.4m
Q1: Total revenue increased by 8%
Total revenue
[in € million]
Q1: Earnings situation further improved
Continuing operations
Income statement
[in € million]
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- •EBIT more than doubled
- Tax rate was influenced by dividend payment to the remaining Feri shareholders
- •Net profit increased to € 4.6m
Q1 2011: Operating EBIT of € 11.8m
EBIT adjusted for one-offs
Extensive investments initiated
Outlook
- 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
Outlook
Forecast: Development of fixed costs
- 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
Growth in wealth management and health insurance expected
Outlook
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- Further growth in wealth management and health insurance expected in 2011 and 2012
- Outlook for old-age provision remains uncertain from a current perspective, stable revenue in 2011 and a slight increase in the following year
Target 2012: Operating EBIT margin 15%
MLP Group
EBIT margin
* Before acquisitions and one-offs
Summary
- •MLP has a unique positioning in the German market
- MLP performed well in 2010 and concluded the year with a considerable increase in earnings
- •Successful start to 2011 with a positive revenue development
- Extensive investments initiated and efficiency programme accelerated
- • Guidance reiterated:
- yOne-offs in 2011 around € 30m
- yReduction of the fixed cost base by at least € 30m in FY 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