MLP SE — Earnings Release 2014

Nov 13, 2014

Financial results 9M/Q3 2014

Reinhard Loose, CFO

13th November 2014

Agenda

• Highlights 9M/Q3 2014
• Key financial figures 9M/Q3 2014
• Consultants and clients
• Outlook and summary
• Questions and answers

Highlights 9M/Q3 2014

• Total revenue in the first nine months increases by 2 percent to € 345.7 million (9M 2013: € 338.8 million)
• Growth in wealth management, Q3 was the strongest revenue quarter in wealth management so far in the history of MLP
• Market for old-age provision remains difficult however slight revenue increase and gain of market share
• Health insurance remains below expectations due to market conditions
• Q3 earnings burdened by several one-off effects cost forecast for the full year reiterated
• New business in old-age provision in the first few weeks of the fourth quarter significantly above the previous year
• Growth initiatives are having an increasingly positive effect

• Highlights 9M/Q3 2014

• Key financial figures 9M/Q3 2014

• Consultants and clients
• Outlook and summary
• Questions and answers

Total revenue rises in both Q3 as well as in the first nine months

Total revenue in Q3 and 9M

[in € million]

Slight increase in old-age provision, strong growth in wealth management

Revenue

[in € million]

	Q3 2014	Q3 2013	Δ in %	9M 2014	9M 2013	Δ in %
Old-age provision	48.9	48.1	2	133.1	131.6	1
Wealth management	38.8	35.1	11	105.7	100.4	5
Health insurance	10.7	10.7	0	31.8	36.2	-12
Non-life insurance	5.5	4.6	20	29.6	27.1	9
Loans and mortgages*	3.2	3.8	-16	9.1	9.8	-7
Other commissions and fees	2.4	1.2	100	5.4	2.9	86
Interest income	5.7	5.7	0	17.1	17.2	-1

*excluding MLP Hyp

Brokered new business in old-age provision increases by 7 percent

Positive development in non-life insurance – Health insurance below expectations

Revenue

[in € million]

	Q3 2014	Q3 2013	Δ in %	9M 2014	9M 2013	Δ in %
Old-age provision	48.9	48.1	2	133.1	131.6	1
Wealth management	38.8	35.1	11	105.7	100.4	5
Health insurance	10.7	10.7	0	31.8	36.2	-12
Non-life insurance	5.5	4.6	20	29.6	27.1	9
Loans and mortgages*	3.2	3.8	-16	9.1	9.8	-7
Other commissions and fees	2.4	1.2	100	5.4	2.9	86
Interest income	5.7	5.7	0	17.1	17.2	-1

*excluding MLP Hyp

MLP benefits from broadened revenue base – Wealth management provides stability

Revenue fom commissions and fees 9M 2014: € 314.8 million (€ 308.0 million)

EBIT falls due to several one-off effects in Q3

Income statement

[in € million]

Q3 2014	Q3 2013	9M 2014	9M 2013
117.8	114.5	345.7	338.8
4.9	7.3	10.4	12.3
0.0	0.1	-0.1	0.1	Ÿ Administration costs for FY 2014 still expected to be
4.9	7.4	10.3	12.4	around € 255 million
-1.5	-2.2	-2.4	-2.9	Ÿ Commission ratio for FY
3.4	5.3	7.9	9.5	2014 expected to remain at the same level as 2013
0.03	0.05	0.07	0.09

Strong balance sheet

MLP Group

[in € million]	30/09/2014	31/12/2013
Intangible assets	156.5	155.3
Financial investments	164.6	146.1
Cash or cash equivalents	39.3	46.4
Other receivables and other assets	95.2	109.2	• Core capital ratio:
			13.6%
Shareholders' equity	361.6	374.5
Equity ratio	23.3 %	24.4 %
Other liabilities	84.7	106.6
Total	1,550.2	1,536.9

MLP 9M/Q3 2014 Financial results Page 11

• Highlights 9M/Q3 2014
• Key financial figures 9M/Q3 2014
• Consultants and clients
• Outlook and summary
• Questions and answers

18,900 new clients

Consultants New clients (gross)

• Highlights 9M/Q3 2014
• Key financial figures 9M/Q3 2014
• Consultants and clients
• Outlook and summary
• Questions and answers

Strong influence of Q4 on full-year earnings

Outlook 2014

Contribution of Q4 to full-year EBIT* (2009-2013)

[in € million]

• Wide range shows the leverage on earnings in the final quarter
• Achievement of the lower forecast scenario (at least € 50 million EBIT) has become more ambitious
• Very high momentum needed in the remaining weeks of the financial year

Summary

• Business development in Q3 still characterised by the difficult market conditions in old-age provision and particularly in health insurance
• MLP benefits from the broadening of its business model in the past few years
• After nine months, MLP is below its own expectations but has registered a good start into the final quarter

• The last few weeks through to the end of this financial year are crucial very high momentum is needed in order to achieve the minimum EBIT target of € 50 million

• Highlights 9M/Q3 2014

• Key financial figures 9M/Q3 2014
• Consultants and clients
• Outlook and summary
• Questions and answers

Contact

MLP Corporate Communications Alte Heerstr. 40 69168 Wiesloch Germany

• § Jan Berg, Head of Corporate Communcations
• § Andreas Herzog, Teamhead Investor Relations and Financial Communications

Tel.: +49 (0) 6222 308 8320 Fax: +49 (0) 6222 308 1131

investorrelations@mlp.de www.mlp-ag.de