MLP – Company Presentation
Dr. Uwe Schroeder-Wildberg, CEO Reinhard Loose, CFO
Roadshow Frankfurt
June 30, 2011
Agenda
•Outlook
- •Growth drivers
- •Earnings situation
- •Summary
Target 2012: Operating EBIT margin 15%
MLP Group
EBIT margin
* Before acquisitions and one-offs
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
Agenda
•Outlook
•Growth drivers
- •Earnings situation
- •Summary
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
- • 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
Continuous increase of the Assets under Management
Growth driver: Wealth management
Assets under Management in the MLP group
MLP – a broad-based consulting house
Growth driver: Further strengthening of corporate client business
Q1: Very dynamic development in the healthcare area
Growth driver: Health insurance
Revenue health insurance
• 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
Growth driver: Old-age pension provision
Old-age provision market is expected to grow
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
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
Agenda
- •Outlook
- •Growth drivers
- •Earnings situation
- •Summary
Summary
- •Successful start to 2011 with a positive revenue development
- •Earnings situation improved significantly
- • Positive momentum in health insurance and wealth management will continue
- •Difficult market conditions in old-age provision will continue
- • 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