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MLP SE

Investor Presentation • Feb 24, 2010

289_ip_2010-02-24_90be93e4-111d-43c4-90d4-16cadea7758b.pdf

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Preliminary results 2009

Frankfurt - February 24, 2010

Agenda

•Highlights 2009

Dr. Uwe Schroeder-Wildberg, CEO

  • • Preliminary results 2009 Andreas Dittmar, Head of Finance
  • • Strategy, market developments, outlook and summary Dr. Uwe Schroeder-Wildberg, CEO
  • •Questions & Answers

Preliminary results 2009

Highlights

Dr. Uwe Schroeder-Wildberg, CEO

Frankfurt - February 24, 2010

Highlights

Financial year 2009

  • • Extremely difficult framework conditions due to the economic and financial crisis
  • •Significant pick-up in the fourth quarter – EBIT rose by 74 percent
  • • Full year: MLP benefited from consistent cost management – Group net profit remained at the level of the previous year
  • • Assets under Management at a new record high – increased market share in wealth management

Reduced willingness towards old-age pension provision – despite large pension gaps

Client behaviour during the economic and financial crisis

Provision commitment - young employees (16 - 29 years old)

Assessment of own provision efforts

Source: Allensbach Institute for Public Opinion Research/Postbank: Old-age pension provision in Germany 2009/2010

Risk-aversion of investors has risen sharply

Client behaviour during the economic and financial crisis

Top 5 product preferences for longer-term investments

ÆFour of the top 5 preferences are heavily risk-averse

Source: BBDO Consulting; Study (February 2010)

Group net profit at the previous year's level

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Preliminary results 2009

Andreas Dittmar, Head of Finance

Frankfurt - February 24, 2010

Q4: Total revenues at previous year's level

Total revenues Q4 2009

[in € million]

Positive revenue development during the course of the year

Development of total revenues

[in € million]

FY 2009: Total revenues influenced by capital markets and economic crisis

Total revenues 2009

Q4: Old-age pension provision business stabilized

Revenues - commissions and fees

[in € million]

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Clear advantage through holistic consulting approach

Revenues – commissions and fees, 2009: € 472.4 million

Cost cutting target of € 24m clearly exceeded

Development of fixed costs*

Group profit only slightly below previous year

Income statement

[in € million]

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  • •EBIT Q4 rose by 74%
  • • EBIT FY 2009 burdenedby one-offs and restructuring costs of € 5m
  • • Group net profit at € 24.2m

MLP is financially strong

MLP Group – selected balance sheet items

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More than 34,000 new clients gained in 2009

Clients Consultants

* incl. clients from the acquired broker ZSH

Top cross-selling rate

Development - contracts per client

Cross-selling rate

Market share of recurring premiums fell only slightly

Market share – old-age pension provision

Market share - recurring premiums*

Source: GDV (German Insurance Association), own calculations / * preliminary market figures

New record high for Assets under Management

Assets under Management

Further increase in market share

Market share - wealth management

Assets under Management in accordance with the BVI methodology

Source: German Association of Investment and Asset Management (BVI), own calculations

Growth of market share in private health insurance

Market share – private health insurance

MLP share of fully insured individuals

Source: German Association of Private Health Insurers, own calculations / * market figures for H2 2009 are not available yet

Preliminary results 2009

Strategy and market developments

Dr. Uwe Schroeder-Wildberg, CEO

Frankfurt - February 24, 2010

Stable shareholder structure

Aktionärsstruktur 23.02.2010Overview of shareholders

MLP – a broad-based consulting house

Client orientation as a success factor

Ministry of Consumer Protection calls for higher quality

Ministry requirements:

  • yTailored client consulting
  • yStructured consulting process
  • y Coverage of existential risks as a basis for wealth accumulation
  • y Recommendations must correspond to the investment purpose and risk propensity
  • y Clearly designed product information sheets
  • yClear positioning of the consultant
  • yDevelopment of a job description
  • yAppropriate qualification
  • yAssumption of liability

Set-up at MLP:

  • y Client-oriented consulting forms the core of the business model
  • yHolistic consulting, service and support
  • y Risk propensity of the client as the starting base for consulting and advisory activities
  • y High level of transparency through comprehensive documentation and new product information sheet
  • yRegistration as an independent broker
  • y Support for a legally-anchored job description
  • y Training standards far exceed the legal requirements

Top ratings in consulting tests

1st place in the old-age pension provision assessment by WirtschaftsWoche(05/2009)

2nd place and top rating in the client assessment of MLP consulting by WhoFinance(01/2010)

3rd place in the mortgage test carried out by the magazine Euro (07/2009)

Macroeconomic framework conditions remain difficult

Outlook 2010

Sources: Annual Economic Report 2010

Source: Survey among German brokers / Magazine "Kurs"

Wide range of potential and opportunities

Outlook 2010

  • x Consistent full exploitation of the revenue potential
  • x Additional client liquidity through the Citizens Relief Act
  • xHigh new client potential
  • x Increasing level of quality awareness by clients
  • x Active participation in the market consolidation –also for wealth managers

Private clients Institutional clients Rating

  • x FIA: External growth and further internationalisation of the business
  • x FIA: Increased demand for ALM, Asset Allocation and Risk Overlay systems
  • x Occupational pensions: Great need for consulting due to e.g. Accounting Modernisation Act and to increased contributions into the Pensions Assurance Association

x Positioning as a European rating agency

ResearchIndependent product and investment research

Extensive new client potential at the universities

Private clients

Annual new client potential - MLP

Sources: Institut für Wirtschaft in Cologne, Federal Statistics Agency, BCG

Wide range of potential and opportunities

Outlook 2010

  • x Consistent full exploitation of the revenue potential
  • x Additional client liquidity through the Citizens Relief Act
  • xHigh new client potential
  • x Increasing level of quality awareness by clients
  • x Active participation in the market consolidation –also for wealth managers

Private clients Institutional clients Rating

  • x FIA: External growth and further internationalisation of the business
  • x FIA: Increased demand for ALM, Asset Allocation and Risk Overlay systems
  • x Occupational pensions: Great need for consulting due to e.g. Accounting Modernisation Act and to increased contributions into the Pensions Assurance Association

x Positioning as a European rating agency

ResearchIndependent product and investment research

A further € 10m of cost reductions in 2010

Fixed costs*

* before acquisitions and one-offs

Significantly improved market environment from 2011

Medium-term outlook

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–
  • •Further reduction of fixed costs amounting to € 10m in 2010
  • • Business prospects (particularly in the first half-year 2010) will continue to be affected by the difficult market environment
  • • Old-age pension provision and health insurance: stable revenues in 2010, return to growth from 2011
  • •Moderate increase in revenues expected in wealth management

Outlook 2012: Increase in EBIT margin to 15%

MLP Group

EBIT margin*

* before acquisitions and one-offs

Page 34 MLP Analyst Conference, Frankfurt - February 24, 2010

  • •In 2009, MLP operated under very difficult market conditions
  • • Cost reduction targets surpassed – resilient development in earnings
  • • MLP has a strong foundation and a future-oriented strategic alignment
  • • Further strengthening of the institutional client business during the coming years
  • •Significantly improved market environment expected from 2011
  • •Outlook 2012: Increase in EBIT margin to 15%

Preliminary results 2009

Questions & Answers

Frankfurt - February 24, 2010

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