MLP SE — Interim / Quarterly Report 2013

Aug 14, 2013

H1 and Q2 2013 Results

Reinhard Loose, CFO

August 14, 2013

• •Financial details H1 and Q2 2013
• •New business, consultants and clients
• •Outlook and summary

• •Questions and answers

• • H1: Total revenue € 224.3 million – 4 percent below the previous year (H1 2012: € 233.7 million)

• • EBIT totals € 4.9 million – around € 3.5 million of the announced future investmentsalready booked in the first half-year
• • Q2: Revenue from commissions and fees of € 98.1 million, 1 percent below the previous year
• • Positive development in wealth management continues, significant pick-up expected in old-age provision and health insurance
• • Outlookfor 2013 to 2015 reiterated

•Financial details H1 and Q2 2013

• •New business, consultants and clients
• •Outlook and summary
• •Questions and answers

Q2: Total revenue of € 107.9 million

Development of total revenue Q1/Q2 2009 to 2013

[in € million]

H1: Total revenue of € 224.3 million

Total revenue in H1

[in € million]

Wealth management largely compensates for decrease in the insurance areas

Revenue

[in € million]

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

*excluding MLP Hyp

MLP benefits from broad-based business model

Revenue from commissions and fees H1 2013: € 204.5 million (€ 208.3 million)

EBIT decreased due to lower revenue and changed revenue mix

Income statement

[in € million]

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

Reduction of administration costs in the first half-year to € 122.2 million – despite one-off future investments of around € 3.5 million

Almost half of the announced future investments already undertaken

Development of temporary expenditures

[in € million]

Strong balance sheet

MLP Group

[ i € i l l i ] n m o n	3 1 / 1 2 / 2 0 1 2	3 0 / 0 6 / 2 0 1 3
I i b l t t n a n g e a s s e s	1 4 1. 7	1 4 7. 5
i i i F l t t n a n c a n v e s m e n s	1 3 7. 1	1 7 4. 1
C h d h i l t a s a n c a s e q a e n s u v	4 0. 7	5. 3 9
O h i 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 3 9. 7	9 6. 1

• Core capital ratio: 17.7%

S h h l d ' i t a r e o e r s e q u y	3 8 4. 2	3 5 2. 9
E i i t t q u y r a o	2 5. % 7	2 4. 0 %
O h l i b i l i i t t e r a e s	1 3 0. 7	8 5. 1
T l t o a	1, 4 9 3. 5	1, 4 7 2. 6

•Financial details H1 and Q2 2013

•New business, consultants and clients

• •Outlook and summary
• •Questions and answers

Assets under management rise to € 22.7 billion

MLP Group

Assets under management

[in € billion]

Significant increase in volume of brokered loans

Number of consultants New clients

• •Financial details H1 and Q2 2013
• •New business, consultants and clients
• •Outlook and summary
• •Questions and answers

The second half-year is traditionally the crucial period for full-year performance

^* Adjusted for one-off exeptional costs

MLP expects EBIT to range between € 65 and € 78 million

Outlook 2013 to 2015 – in each case compared to the previous year

	2 0 1 3	2 0 1 4	2 0 1 5
R l d- i i e v e n u e s o a g e p r o v s o n –	0	0	+
R h l h i t e v e n u e s e a n s u r a n c e –	0	+	+
R l t h t e e n e s e a m a n a g e m e n v u w –	+	+	+

very positive: ++, positive: +, neutral: 0, negative: -, very negative: --

• y If necessary, temporarily higher expenditure – either for important future investments or for one of-off initial costs in order to ease future expenditure requirements
• y Outlook: EBIT of between € 65 and € 78 million in the financial years 2013 to 2015 – depending on the respective market development
• y Due to our investments into future topics we expect EBIT to be at the lower end of the corridor in 2013

Summary

• • Business development in the first half-year affected by difficult market conditions in old-age provision and health insurance as well as by the changeover to new unisex tariffs
• • MLP benefits once again from the enhanced diversification of the business model – dynamic development in wealth management
• • As is usual with the MLP business model, the second half-year in particular is crucially important to our full year performance
• • Significant pick-up in old-age provision and in health insurance expected but uncertaintiesremain due to the demanding market environment

• •Year-end goal remains achievable: EBIT corridor confirmed

• •Financial details H1 and Q2 2012

• •New business, consultants and clients
• •Outlook and summary
• •Questions and answers

Contact

MLP Corporate Communications Alte Heerstr. 4069168 WieslochGermany

• Jan Berg, Head of Corporate Communications
• Andreas Herzog, Senior Manager Investor Relations and Financial Communications

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

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