MLP – Company Presentation
Dr. Uwe Schroeder-Wildberg, CEO Roadshow Rotterdam
July 11, 2012
• MLP at a glance
- Outlook
- Top line development
- Bottom line development
- Earnings situation
- Summary
Corporate data at a glance
The MLP Group
- Independent financial services and wealth management consulting company
- Founded in 1971
- 799,100 private clients
- More than 5,000 corporate clients
- 20.5 billion € assets under management
- Around 1,500 employees and 2,120 financial consultants
MLP – a broad-based consulting house
The MLP Group
• MLP at a glance
• Outlook
- Top line development
- Bottom line development
- Earnings situation
- Summary
Goal 2012: Operating EBIT margin 15 percent
MLP Group
EBIT margin
* After adjustment for one-offs ** Before acquisitions and special effects
• Top line development
- Bottom line development
- Earnings situation
- Summary
Clear advantages through holistic consulting approach
FY 2005 (Revenue from commissions and fees: € 467.9 million)
FY 2011 (Revenue from commissions and fees: € 498.5 million)
Growth anticipated in all three core areas
|
2012 |
Revenues –
old-age provision |
|
Revenues –
wealth management |
|
Revenues –
health insurance |
|
- Qualitative forecast made a year ago fundamentally confirmed:
- Old-age provision: slight increase in revenues in 2012
- Health insurance: slight increase in revenues in 2012
- Wealth management: stronger growth in 2012
- Due to the challenging market environment, future development in all three consulting areas remains somewhat uncertain
Pressure on social security systems is imminent
Old-age pension provision
Growth driver – Occupational pensions
Old-age pension provision
- This business area has been successfully built up since 2004
- Occupational pension business now accounts for 13 percent of the premium sum (FY 2010: 9 percent)
- Provision of consulting and services to more than 5,000 companies and employers
- Largest German occupational pensions broker
- Established in the market for independent consulters behind international firms such as Mercer, Watson Wyatt and Aon Jauch & Hübener
High potential for 2012 and beyond
MLP and Feri cover the whole market
Wealth management
New structure at Feri enables even better coverage of changing investor needs
Wealth management
Successful development of Assets under Management
Wealth management
Assets under Management in the MLP group
[in € billion]
Increasing sceptical perception of the statutory healthcare system
Health insurance
Revenue health insurance
[in € million]
Reduction in fixed costs to around € 249 million
Development of fixed costs
[in € million]
- 2011: Adjusted fixed costs reduced by € 6.3 million
- Investment and efficiency programme remains on track
* After adjustment for one-offs
- MLP at a glance
- Outlook
- Top line development
- Bottom line development
- Earnings situation
- Summary
Q1: Total revenue of € 121.5 million
Total revenue in Q1
[in € million]
Expected decrease in health insurance in Q1
Revenue: commissions and fees
[in € million]
|
Q1 2011 |
Q1 2012 |
Δ
in % |
| Old-age provision |
50.5 |
48.9 |
-3 |
| Wealth management |
19.3 |
19.2 |
-1 |
| Health insurance |
28.0 |
19.1 |
-32 |
| Non-life insurance |
16.8 |
17.9 |
7 |
| Loans and mortgages* |
3.1 |
2.9 |
-6 |
| Other commissions and fees |
0.8 |
0.9 |
13 |
|
|
|
|
Expected decrease in health insurance due to strong Q1 2011 caused by the catch-up effect resulting from simplified switch to private health insurance
*excluding MLP Hyp
Earnings situation further improved
Continuing operations
Income statement
[in € million]
|
Q1 2011 |
Q1 2012 |
| Total revenue |
130.8 |
121.5 |
| EBIT |
8.6 |
12.4 |
| Finance cost |
-1.0 |
0.2 |
| EBT |
7.6 |
12.6 |
| Taxes |
-2.9 |
-3.2 |
| Net profit |
4.6 |
9.4 |
EPS in €
(diluted) |
0.04 |
0.09 |
|
|
|
- No one-offs in Q1 2012 (Q1 2011: € 3.2 million)
- Efficiency programme continues to bear fruit
- EBIT margin up to 10.2 % (6.6 %)
- Finance cost improved due to abolition of Feri dividend
Development of fixed costs*
- MLP at a glance
- Outlook
- Top line development
- Bottom line development
- Earnings situation
- Summary
Summary
- Through its investment and efficiency programme, in 2011 MLP has initiated important measures for the future.
- MLP benefits from the new breadth in its business model.
- In 2012 the market conditions remain challenging, but growth anticipated in all three core areas.
- Q1: Revenue development in line with expectations, efficiency programme fully on track
- Goal 2012: Increase the operating EBIT margin to 15 %.
Contact
MLP Investor Relations Alte Heerstr. 40 69168 Wiesloch Germany
Jan Berg, Head of Corporate Communications
Tel.: +49 (0) 6222 308 4595 Fax: +49 (0) 6222 308 1131
[email protected] www.mlp-ag.com