Stop parsing PDFs. Get the API. Request Access

AI Terminal

MODULE: AI_ANALYST
Interactive Q&A, Risk Assessment, Summarization
MODULE: DATA_EXTRACT
Excel Export, XBRL Parsing, Table Digitization
MODULE: PEER_COMP
Sector Benchmarking, Sentiment Analysis
SYSTEM ACCESS LOCKED
Authenticate / Register Log In

MLP SE

Earnings Release • Aug 13, 2008

289_ip_2008-08-13_283405a6-3572-4b24-94f3-870b46a1c55b.pdf

Earnings Release

Open in Viewer

Opens in native device viewer

H1 and Q2 2008 Results

Andreas Dittmar, Head of Finance

13th August 2008

Overview

  • yHighlights H1 and Q2 2008
  • yFinancial details H1 and Q2 2008
  • yClients and consultants
  • yOutlook and summary

Overview

  • yHighlights H1 and Q2 2008
  • yFinancial details H1 and Q2 2008
  • yClients and consultants
  • yOutlook and summary

Highlights H1 and Q2 2008

  • yMLP achieved further top line growth
  • yAssets under Management increased from € 10.9 bn to € 11.7 bn in Q2
  • yChallenging market environment
  • y Particularly the amendments to the German Insurance Contract Law forced market participants to adjust their structures, processes and technology
  • y Retail clients are uncertain and tend to postpone investment decisions due to:
  • yTurmoil in the financial industry
  • yWeak development in the capital markets
  • yRising inflation
  • yUncertainty about future economic development

General market developments in Germany in H1 2008

Old-age pension provisions

  • yNew business has been flat in recent years
  • yLong-term growth market
  • yCurrently a "crowding out" market

Wealth management

yInflows into funds fell by almost 40% in H1 2008

Private health insurance

y Number of insured people has stagnated due to health insurance reform in 2007

yHighlights H1 and Q2 2008

  • yFinancial details H1 and Q2 2008
  • yClients and consultants
  • yOutlook and summary

H1: Total revenues increased by 5%

Total revenues

Q2: Total revenues at previous year's level

Total revenues

Revenues from old-age pension provisions increased by 17%

Revenues – commissions and fees

Q
2
2
0
0
7		 Q
2
2
0
0
8		 i
%
n		 H
1
2
0
0
7		 H
1
2
0
0
8		 i
%
n
O
l
d
i
i
i
a
g
e
p
e
n
s
o
n
p
r
o
v
s
o
n		 7
0.
5		 6
5.
1		 -8 1
3
2.
4		 1
5
4.
3		 1
7
+
H
l
h
i
t
e
a
n
s
r
a
n
c
e
u		 9.
1		 1
1.
5		 2
6
+		 3
4.
7		 2
2.
9		 -3
4
N
l
i
f
i
o
n-
e
n
s
u
r
a
n
c
e		 3.
6		 3.
3		 -8 1
6.
6		 1
9.
1		 1
5
+
W
l
h
t
t
e
a
m
a
n
a
g
e
m
e
n		 2
3.
8		 2
1.
3		 -1
1		 4
8.
3		 4
2.
0		 -1
3
L
d
t
o
a
n
s
a
n
m
o
r
g
a
g
e
s		 3.
7		 2.
9		 -2
0		 7.
6		 6.
1		 -1
9
O
h
i
i
d
f
t
e
r
c
o
m
m
s
s
o
n
s
a
n
e
e
s		 0.
6		 1.
0		 4
9
+		 1.
3		 1.
7		 3
8
+

Wealth management generates a significant revenue stream

Revenues – commissions and fees, H1 2008: € 246.2 million

Regulatory changes lead to cost increase

Continuing operations

Income statement

Q
2
2
0
0
7		 Q
2
2
0
0
8		 H
1
2
0
0
7		 H
1
2
0
0
8
T
l
t
o
a
r
e
v
e
n
u
e
s		 1
2
7
5		 1
2
9.
1		 2
3
2
7		 2
8
3
7
E
B
I
T		 1
8
5		 9.
5		 3
8
2		 3
2
7
F
i
t
n
a
n
c
e
c
o
s		 0
3
-		 0
8
-		 2
4
-		 8
9
-
E
B
T		 1
8
1		 8
7		 3
5
8		 2
3
8
T
a
x
e
s		 6
3
-		 1.
2
-		 1
3
8
-		 9.
5
-
N
f
i
t
t
e
p
r
o		 1
1.
8		 7
5		 2
2
0		 1
4
3
S
E
P
i
€
n
(
)
d
i
l
d
t
u
e		 0
1
2		 0
0
7		 0
2
2		 0
1
4

Positive development of AuM

New Business and Assets under Management

Strong balance sheet

MLP Group – selected balance sheet items

/
/
3
1
1
2
2
0
0
7		 3
0
/
0
6
/
2
0
0
8
I
i
b
l
t
t
n
a
n
g
e
a
s
s
e
s		 1
8
4.
7		 1
9
8.
7
i
i
i
F
l
t
t
n
a
n
c
a
n
v
e
s
m
e
n
s		 5
2.
4		 6
3.
1
C
h
d
h
i
l
t
a
s
a
n
c
a
s
e
q
a
e
n
s
u
v		 3
7.
3		 3
4.
4
i
O
h
b
l
d
h
t
t
t
e
r
r
e
c
e
v
a
e
s
a
n
o
e
r
a
s
s
e
s		 1
6
2.
1		 1
0
5.
0
S
i
h
h
l
d
'
t
a
r
e
o
e
r
s
e
q
u
y		 3
3
9.
7		 2
9
3.
2
E
i
i
t
t
q
r
a
o
u
y		 2
4
%		 2
2
%
O
h
l
i
b
i
l
i
i
t
t
e
r
a
e
s		 2
8.
5
7		 5
2
2
0.

Dividend increased by 25%

Dividends

Dividend payment

  • y Dividend increased by 25 percent to € 0.50 (€ 0.40) per share
  • y Dividends will be tax- free up to € 400 m
  • y FY 2007: Pay-out of € 60 m (dividends and share buy-backs)

Overview

  • yHighlights H1 and Q2 2008
  • yFinancial details H1 and Q2 2008
  • yClients and consultants
  • yOutlook and summary

Number of clients growing steadily

Most productive sales force in the German financial services industry

Overview

  • yHighlights Q2 2008
  • yFinancial details H1 and Q2 2008
  • yClients
  • yConsultants
  • yOutlook and summary

Guidance 2008 reiterated

Outlook

2
0
0
8		 M
d
i
t
e
u
m
e
r
m
-
R
l
d-
i
e
v
e
n
u
e
s
o
a
g
e
p
e
n
s
o
n
s
-
R
l
h
t
t
e
v
e
n
u
e
s
w
e
a
m
a
n
a
g
e
m
e
n
-
R
h
l
h
i
t
e
e
n
e
s
e
a
c
a
r
e
n
s
r
a
n
c
e
v
u
u
-

2008:

  • •Rapid adjustment to the new regulatory environment
  • •Gaining additional market share in old-age pension provision
  • • Despite changed framework conditions, increase total revenues beyond the record figure achieved in 2007
  • • Slight and one-off fall in the operating margin due to adjustment to the German Insurance Contract Law

Summary

  • •Difficult market environment due to regulatory changes
  • • Sluggish overall development in MLP's core market segments of old-age pensions, private health provision and wealth management
  • • Earnings were burdened by additional costs resulting from adjustments to the new regulatory environment
  • • MLP was able to increase total revenues and AuM against the overall market trends
  • •Guidance for FY 2008 reiterated

Contact

MLP Investor RelationsAlte Heerstraße 4069168 WieslochGermany

  • Helmut Achatz, Head of Investor Relations
  • Ines Kittlitz, Manager Investor Relations

Tel.: +49 (0) 6222 308 1135 Fax: +49 (0) 6222 308 1131

[email protected] www.mlp.de

More from MLP SE

Transaction in Own Shares 2025
Dec 22
Share Issue/Capital Change 2025
Dec 15
Legal Proceedings Report 2025
Dec 8
Transaction in Own Shares 2025
Nov 20
Earnings Release 2025
Nov 13
Regulatory Filings 2025
Nov 13
Regulatory Filings 2025
Nov 13
Earnings Release 2025
Nov 7
Report Publication Announcement 2025
Nov 6
Earnings Release 2025
Aug 14
View all filings →

Talk to a Data Expert

Have a question? We'll get back to you promptly.