Investor Presentation • Jun 29, 2007
Investor Presentation
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Uwe Schroeder-Wildberg
CEO
June 2007
ÆMLP has clear unique selling points
Market share of different sales channels for life insurance products in Germany
Source: Tillinghast Sales Channel Survey Germany
* Estimate, ** incl. IFAs and multi tied agents, *** Direct incl. Internet sales
| C i i l l t t o n s u n g q u a y |
T t a r g e g r o p u f o c u s |
|---|---|
| Q l i f i d l t t a e c o n s a n s u u |
|
| I l h t n e g r a a p p r o a c |
k h n o w o w - |
| C l i l f h f t t e n g o a s o r m e o c u s |
|
| O i t n g o n g s u p p o r |
f d d o a r e s s |
| L l i t t o n g e r m c e n - l i h i t r e a o n s p s |
|
| C h i o m p r e e n s e v i s e r v c e |
|
| I d d n e p e n e n c e |
|
| B d d t r o a p r o u c r a n |
g e |
| H i h d l t g p r o u c q u a |
i t y |
| P i h t t t a r n e r s w s r o |
f n g p e r o r m a n c e |
| i f i H h l l g e v e o n n o |
i t v a o n |
| i i T l d l t a o r e s o u o n s |
Target group-specific know-how
Target group-specific form of address
Attractive risk profiles
| i E d t t s m a e k h * t t m a r e g r o w |
M L P l i t c o n s u n g |
i M d t e r m - d l M L P t e v e o p m e n |
|
|---|---|---|---|
| O l d i i i -a g e p e n s o n p r o s o n v |
1 0 % 5 p a - |
C t o r e c o m p e e n c e |
|
| P i h l h i i t t r a e e a c a r e p r o s o n v v |
M i d- t e r m i i d d n c r e a s n g e m a n |
C t o r e c o m p e e n c e |
|
| W l h t t e a m a n a g e m e n |
% 5 7 p a - |
F t u u r e c o r e t c o m p e e n c e |
|
| N l i f i o n- e n s u r a n c e s |
S l l d m a e c r e a s e i p r e m u m s u m s |
P f h i d t t t t a r o e n e g r a e l i h t c o n s n g a p p r o a c u |
|
| F i i n a n c n g |
1 0 % p a |
P f h i d t t t t a r o e n e g r a e l i h t c o n s u n g a p p r o a c |
*Source: Roland Berger, zeb, Allianz Global Investors, Datamonitor, KPMG, MLP.
y Target: Mid-term increase in proportion of revenue from wealth management from around 6 % up to 20 %
Demographic trend is growth driver for pension and health provision markets
Number of employees who finance one retiree
Source: Stat. Bundesamt
Demographic trend is growth driver for pension and health provision markets
Growth perspectives for wealth management in Germany
Source: zeb/rolfes, schierenbeck associates, Datamonitor
Financial assets of private households in Germany
Source: Bundesbank, Stat. Bundesamt
Targeted expansion of MLP Wealth Management
Efficient and specialised service platform geared towards client needs
Core data and reasons for expanding wealth management segment
y
Wealth management segment expansion – a logical step
Feri – the ideal partner for MLP
Know how to develop tailor- made wealth management concepts
Exclusive investment concepts for private clients
Hardly any continuity in reviewing client objectives and actual performance
Individual and integrated consultancy based on client objectives
Individual concepts
Forecast 2007
Medium-term planning
| 2 0 0 7 |
i M d t e m e r m u - |
|
|---|---|---|
| O l d i i i i a g e p e n s o n p r o v s o n s n c o m e - |
||
| W l h i t t e a m a n a g e m e n n c o m e |
||
| H l h i i t e a n s u r a n c e n c o m e |
||
| f N b l t t u m e r o c o n s u a n s |
3 0 0 0 , |
S d h t t e a y g r o w |
Income from brokerage business, Q1 2007 (Q1 2006): € 107.1m (€ 106.0m)
Continuing operations
| [ i € ] n m |
Q 1 2 0 0 6 |
Q 1 2 0 0 7 |
|---|---|---|
| T l i t o a n c o m e |
1 2 9 8 |
1 4 4 7 |
| E B I T |
1 2 5 |
1 6 7 |
| F i t n a n c e c o s |
2 0 |
0 5 |
| E B T |
1 4 5 |
1 1 7 |
| T a e s x |
6 0 - |
7 2 - |
| N f i t t e p r o |
8 5 |
9 9 |
| S i E P € n |
0 0 8 |
0 1 0 |
| [ in € ] m |
Q 1 2 0 0 6 |
Q 1 2 0 0 7 |
|---|---|---|
| C l in d le t t o ns u g a n s a s s e g m e n |
||
| S in t e g m e n c o m e |
1 0 9. 9 |
1 1 1. 4 |
| E B I T |
1 3. 6 |
1 3. 4 |
| ( G ) E B I T in in % m a rg e rm a ny |
1 3. 5 |
1 4. 8 |
| E B I T fo ig io t re n o p e ra ns |
-0 7 |
-2 5 |
| Ne bu in w s e s s |
||
| O ( ) l d- is io in € b ln a g e p ro n v |
1. 6 |
0. 9 |
| He l h in t a su ra nc e |
1 6. 5 |
1 4. 6 |
| Lo d tg a ns a n m o r a g e s |
3 0 4 |
3 0 6 |
| Fu d d ( in € b ln ) t n s u n e r m a na g e m e n |
1 0. 8 * |
1 0. 8 |
| Ba k in t n g s e g m e n |
||
| S in t e g m e n c o m e |
1 6. 7 |
1 8. 9 |
| E B I T |
1. 5 |
1. 7 |
| W l t h t t e a m a na g e m e n s e g m e n |
||
| S in t e g m e n c o m e |
- | 9. 9 |
| E B I T |
- | 1. 4 |
* as at 31/12/06
| [ i € ] n m |
/ / 3 1 1 2 0 6 |
/ / 3 1 0 3 0 7 |
|---|---|---|
| I i b l t t n a n g e a s s e s |
1 8 6 8 |
1 8 0 5 |
| P l d i t t t r o p e r y p a n a n e q u p m e n , |
8 9 1 |
8 7 8 |
| I t t t n e s m e n p r o p e r v y |
1 1 5 |
1 0 5 |
| f D d t t e e r r e a a s s e s x |
0 2 |
0 6 |
| f R i b l e c e a e s r o m v |
||
| b k i b i a n n g u s n e s s |
6 0 6 4 |
6 3 8 5 |
| F i i l t n a n c a a s s e s |
4 9 9 |
8 4 7 |
| T f d l i a x r e u n c a m s |
2 1. 1 |
7 7 |
| R i b l d h t t e c e v a e s a n o e r a s s e s |
1 7 7 1 |
9 0 2 |
| C h d h i l t a s a n c a s e q u v a e n s |
1 2 0 5 |
1 1 0 2 |
| f N h l d l t t o n- c u r r e n a s s e s e o r s a e |
- | 7 5 |
| 1, 2 6 6 1 |
1, 2 4 0 7 |
| [ ] i € n m |
/ / 3 1 1 2 0 6 |
/ / 3 1 0 3 0 7 |
|---|---|---|
| E i i b b l t t t t t q u y a r u a e o |
||
| M L P A G h h l d s a r e o e r s |
3 2 3 4 |
3 3 1. 9 |
| M i i i t t t n o r y n e r e s |
0 1 |
0 1 |
| i T l h h l d ' t t o a s a r e o e r s e q u y |
3 2 3 4 |
3 3 2 0 |
| O h i i t e r p r o v s o n s |
3 3 9 |
3 0 3 |
| f D d l i b i l i i t t e e r r e a x a e s |
1 9 6 |
2 0 5 |
| L i b i l i i d t t a e s u e o b k i b i a n n g s n e s s u |
9 9 5 7 |
6 4 0 5 |
| T l i b i l i i t a a e s x |
6 7 |
9 4 |
| O h l i b i l i i t t e r a e s |
2 8 1. 9 |
2 0 6 7 |
| L i b i l i i h l d f l t a e s e o r s a e |
- | 1. 4 |
| 1, 2 6 6 1 |
1, 2 4 0 7 |
Revenue per client (€)
* Structural changes led to deferments of new appointments; by April 1st MLP had already surpassed the level of December 2006
Revenue per consultant (€)
Page 32
Overview
| S d t t u e n |
S f t t a r o c a r e e r |
C / a r e e r b l i h d t e s a s e |
R i t t e r e m e n |
|
|---|---|---|---|---|
| 5 2 3 0 A |
5 3 4 0 A / B B |
5 5 4 0 B / E |
5 6 0 6 … E |
|
| i i i L d t q u y t m a n a g e m e n |
D i b d t- y e p o s a s e C f A t t o m o r c c o n u C d i C d t y r e a r |
C f A i h t t t y o m o r c c o u n w d i l i i t t c r e m G l d C d y o a r |
P i A t r e m m c c o n y u u P l i C d t a n u m a r y |
P i A t r e m m c c o n y u u P l i C d t a n u m a r y |
| O i h t y v e r n g m o M k o n e m a r e y y N e a r m o n e y m y "Z i P l " n s s y u |
t n e y a c c o u n d f i d i f d t a n e n c o m e n s x u k f d t a r e u n s |
O i h t e r n g m o n e y v y M k t o n e m a r e a n y y N k y e a r m o n e y m a r S i l i t p e c a n e s m e n y v "Z i P l " n s u s y |
t a c c o n u f f d i d i d e n c o m e n s x u f d t e u n s t s |
|
| W l h t e a f i t o r m a o n ( S ) ing la av s p ns |
f l i t t o p p o r o o y f l h i f l i t y a g s p p o r o o f i l i t t t a n p o r o o y |
i l f t y c a p a o r m a f l i t t o p p o r o o y f l h i y a g s p p o r i f l i t t t y a n p o r o o |
i b f i f d t t o n e n e u n s f l i t o o |
|
| W l h t e a i i i t t o p m s a o n ( ) Lu inv t t m p su m e s m e n s |
b l f l i t t t y a s o u e r e u r n p o r o o H l d i & P i E i t t o n g s r a e q y v u "M d l l h t o u a r w e a m a n a g y I d i i d l l h t n a e a m a n a y v u w |
i f l i t y p r e m u m p o r o o i f l i t t t a n p o r o o y y " b l t t t e m e n e s s e e c y t g e m e n |
| C f i i t o n g u r a o n |
||
|---|---|---|
| C i i / h t t a r a c e r s c s i t t n v e s m e n b j i t o e c v e |
"p f H i h- i l d k i l i i d i " t g e a r n g o q y y u y O b j i i b k h i h t t t t t t t t e c e p. a. n e r e s a o e m o n e m a r e r a e o g e e r y v : v y w f l i l i h i i h i d t t e c s o n o o s s e s n a s m o n p e r o x u w x / M l i l i t t t t y u a s s e m u m a n a g e r c o n c e p |
R is ky ts as se ( it ies ) e.g . e q u 2 % Y ie l d P ic k Up ( ly nt cu rre Pro ) ty p er 4 8 % |
| V h i l e c e |
F d f f d u n o u n s y |
|
| I l i t t m p e m e n a o n |
P f l i i i f k i t t 5 0 % t t t y o r o o c o n s s n g o a p p r o x. m o n e y m a r e n v e s m e n s d 0 % h i h d d d i i l i l d l d 5 t t t t t t a n o e r n v e s m e n s a p r o u c e a o n a y e c o u p e i h l i k ( l f d ) t t t w o w r s e x p o s u r e c u r r e n y : p r o p e r y u n s A l l i b l l d i k ( i i ) t t t t t y s m a p r o p o r o n c a n e a o c a e o r s y a s s e s e. g. e q u e s i i t t t t o r p u n o a s w a p c o n s r u c o n |
|
| M i i n m u m i t t n v e s m e n |
S i l E U R 5 0 a v n g s p a n y : L i E U R 2, 5 0 0 t t m p s m n e s m e n y u u v : |
Money market 50%
| C f i i t o n g u r a o n |
|
|---|---|
| C h i i / t t a r a c e r s c s I t t n v e s m e n b j i t o e c e v |
"C f l i " f M L P l i t t t o m o r s o u o n o r c e n s y F f d i b h k t- t o c u s o n o u p e r o r m a n c e c o m p a r e o g v e n e n c m a r y M l i / l i t t t t y u a s s e m u m a n a g e r c o n c e p |
| V h i l e c e |
3 f l i d l h i h f d i t t 5 t t y p o r o o m o e s, e a c w u n n v e s m e n s |
| I l i t t m p e m e n a o n |
B i M L P i f d l i ( R i b d, l d f d t t t t t y a s s : a n u n s s a n g s- a s e p r e- s e e c e u n s i 9 k ) l h f d t t t n m a r e s e g m e n s p u s o e r u n s A d d i i f f h i h / i / l t t t t t t t t t t y o n o u r e r a r a c v e e m e s c o u n r e s s y e s e c. o h f l i i t t e p o r o o m x |
| M i i n m u m i t t n v e s m e n |
S i l E U R 7 5 a v n g s p a n : y L i E U R 2, 5 0 0 t t u m p s u m n v e s m e n y : |
| C f i i t o n g u r a o n |
||
|---|---|---|
| C h i i / t t a r a c e r s c s i t t n v e s m e n |
W l h i h l i i i d t t t t t e a m a n a g e m e n w o w m n m u m n v e s m e n a n y i i i h t t t n n o v a v e n v e s m e n a p p r o a c |
|
| b j i t o e c e v |
C f i d H N W I d i l b l M L P t t t t t y o n c e p s s o a r r e s r c e o m a e a v a a e o l i t c e n s |
|
| / M l i l i t t t t y u a s s e m u m a n a g e r c o n c e p |
||
| M d l i d h d l i t t o a r e n s r e s r a n s p a r e n c a n e a s a n n g y u y u y y |
||
| C S U f h d d i i b i l i i h h U I T I I I t t t t t t s e o e e e n e n e s m e n p o s s e s r o g y x v u |
||
| i V h l e c e |
f 2 d t t s e p a r a e a s s e n s y u : "S f " f / d l i h h i i b t t t t t a e m o e e a m o g e n e r a n g a a s e r e r n y y u w u A b l R t t t s o u e- e u r n c o n c e p "O i d l " d i i l i d t t t t t t p p o r u n y m o u e s n c y r e u r n- o r e n e y |
|
| I l i t t m p e m e n a o n |
P f l i l l i f b h "m d l " t t t y o r o o s g e n e r a y c o n s s o o o u e s B h h i l f l l b l f b i h t t t t y o v e c e s a r e r e e y s c a e a e, o r a e e r o v e r v e w e r e i i i h 1 2 l i t t t t s a m a r x w a e r n a v e s "M i i " f l h i k h h l d d i h i f t t t t t t y x r a o r e e c s e r s r e s o a n n v e s m e n o r z o n o h l i t t e c e n |
|
| M i i n m u m i t t n e s m e n v |
E U R 1 0, 0 0 0 y |
|
| Pa 3 7 g e |
| d l o h s e r h t k |
4 / 5 % Op 5 p. Sa fe 5 % |
0 % Op / 7 p. Sa fe 3 0 % |
9 0 % Op / p. Sa fe 1 0 % |
1 0 0 % Op tun ity p or |
|---|---|---|---|---|
| s i R |
2 0 % Op / p. Sa fe 8 0 % |
Op / 4 0 % p. Sa fe 6 0 % |
Op / 6 0 % p. Sa fe 4 0 % |
8 0 % Op / p. Sa fe 2 0 % |
| 1 0 0 % Sa fe |
Op / 1 5 % p. Sa fe 8 5 % |
Op / 3 5 % p. Sa fe 6 5 % |
5 0 % Op / p. Sa fe 5 0 % |
Time horizon
| C f i i t o n g r a o n u |
||
|---|---|---|
| C i i / h t t a r a c e r s c s i t t n v e s m e n b j i t o e c v e |
f I d i i d l l h M L P l i t t t n a e a m a n a g e m e n o r c e n s y v u w / M l i l i t t t t u a s s e m u m a n a g e r c o n c e p y f D i i h i d i i d l i k h h l d t t t t e e r m n a o n o e n a r s r e s o y v u K i k b k i l l b d i d l i t t t t c a c s w e c r e e o c e n a c c o u n s y |
|
| V h i l e c e |
A f i f d b d d t t t t y s s e m a n a g e m e n r o m n v e s m e n u n s, o n s a n i f i t t c e r c a e s |
|
| I l i t t m p e m e n a o n |
P f l i i d i d b h i h h l d i h t t t t t t t o r o o s r u c u r e s e e r m n e y e m a x m u m r e s o w y i b l l f i l t t t r e s p e c o a p o s s e o s s o c a p a P f l i k d i f h f d h t t t t t t t t y o r o o e y a a a r s e r o m e a r g e r a e o r e u r n a n e l i 's i k h h l d t t c e n r s r e s o |
|
| M i i n m m u i t t n v e s m e n |
E U R 0 0, 0 0 0 5 y |
Procedure for fund selection by Feri
MLP Investor RelationsAlte Heerstraße 4069168 WieslochGermany
Contact:Investor Relations:
Helmut Achatz, Head of Investor Relations Klaus Ringel, Manager Investor Relations
Tel. +49 (0) 6222 308 1135 Fax.+49 (0) 6222 308 1131 E-mail: [email protected]
MLP Investor Relations information on the internet: Financial reports, presentations and calendar etc. at http://www.mlp.de
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