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MLP SE Annual Report 2003

Mar 9, 2004

289_ip_2004-03-09_7162c962-be02-4619-b51b-db6eda1f5618.pdf

Annual Report

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Preliminary results 2003

MLP Group

Successful business year 2003 Sustainable turnaround achieved

Dr. Uwe Schroeder-Wildberg Chairman and CEO

Highlights

  • Adjusted* total revenue increased by 14% to EUR 1,108.4 million
  • Group sales revenues increased by 18% to EUR 352 million
  • Pre-tax profit at EUR 62.9 million (EUR -36.6 million)
  • Restructuring costs EUR 7.9 million
  • Adjusted pre-tax profit more than doubled to EUR 70.8 million
  • Net profit at EUR 41.1 million (EUR -47.6 million)
  • EPS (DVFA) of EUR 0.43 (EUR -0.23)
  • Proposed dividend of EUR 0.15 per share

* Adjuste d for profit n eutral effects as well as for MLP-Lebensversicherung AG, Vienna by EUR 60.6 mil. and by EUR 83.7 mil. proceeds from disposal of the participation in M LP-Lebensversicherung AG, Vienna

Sustainable turnaround achieved

Continuous demand for provision products

  • Broker sales revenues* increased by 10 % to EUR 399 million
  • New business areas life insurance and loans above previous year
  • 561,500 Clients (+11%); New clients 56,500
  • Productivity increase

* Segment consultation and sales

Steady increase in number of clients

Number of clients in thousands

Productivity increases further

Quality initiativ e and restructuring show results – Segment C onsultation and Sales

Sales revenue per consultant

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New business shows turnaround

New business in euromillion

FY 2002

FY 2003

Private health insurance (ann ual premiums)

Adjusted* MLP Group total revenue

In EUR million

* Adjusted for profit neutral effects as well as for MLP-Lebensversicherung AG, Vienna by EUR 60.6 mil. and by EUR 83.7 mil. proceeds from disposal of the participation in MLP-Lebensversicherung AG, Vienna

High demand for provision products

MLP CC 09.03.2004

Q4 – revenues leverage profits

Seasonality of sales

MLP Group financial key figures

MLP Group in EUR million

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MLP Group financial key figures

Business segments in EUR million

2003 2002 % change
Segment Consultation and Sales
Sales revenue 399.2 363.6 10%
Segment result 66.1 $-96.2$ n.a.
Segment Life Insurance
Insurance premiums 488.5 443.9 * 10%
Segment result 9.7 $-30.5*$ n.a
Segment Non-life Insurance
Insurance premiums 34.8 30.3 15%
Segment result 1.9 1.7 12%
Segment Bank
Interest result 8.6 7.5 15%
Comission result 23.2 21.1 10%
Segment result 2.3 2.1 10%

* Excluding EUR 44.1 million insurance premi ums of MLP-Lebensversicherung AG, Vienna and b y EUR 83.7 mil. proceeds from disposal of the particip ation in MLP-Lebensversicherung AG, Vienna

MLP is well positioned in a long-lasting growth market

  • Future reforms of pension and health system increase demand for private pension and provision
  • Company pension schemes become increasingly important
  • Taxation of life insurance contracts could drive revenues in the short term
  • Double digit growth of revenues and profit in 2004

This presentation includes certain forward- looking statements. Actual results could differ materially from those included in the forwardlooking statements due to various risk factors and uncertainties, including changes in business, economic and competitive conditions, regulatory reforms, foreign exchangerate fluctuations, uncertainties in litigation or investigative proceedings, and the availability of financing. Past performance is no guarantee for future performance. MLP AG does not undertake any responsibility to update the forward- looking statements contained in this presentation.

Appendix

EPS (DVFA)

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* weighted average

Appendix

Key figures MLP Group

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* Including profit neutral umbrella-fund concept effect of EUR 81.7 million

** Including EUR 83.7 million proceeds from sale of participation in MLP-Lebensversicherung AG, Vienna

Appendix

Pre-tax profit and key figures business segments

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MLP Investor Relations

MLP AG

MLP Investor RelationsForum 769126 Heidelberg Germany

Contact:

Investor Relations:Michael Pfister, Head of Communications Andreas Dittmar, Head of Investor Relations Sebastian Slania, Manager Investor Relations Tel. +49 (0) 6221 308 8320 Fax. +49 (0) 6221 308 1131 E-mail: [email protected]

MLP Investor Relations information on the internet: financialreports, presentations and calendar etc.underwww.mlp.de

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